Goldman Sachs Bank USA seeks a Head of Asset Management in Dallas, TX to join the Urban Investment Group (UIG) Asset & Wealth Management team within Real Estate. Established in 2001, the Urban Investment Group (UIG) within Goldman Sachs Asset & Wealth Management makes domestic tax credit equity investments and loans and provides senior loan facilities in order to empower underserved communities and enable long-term equitable growth, with a primary focus on affordable housing. UIG manages the investing and lending strategies for GS Bank USA’s Community Reinvestment Act requirements and the firm’s investments in Opportunity Zones, and is a significant contributor to the firm’s One Million Black Women and 10,000 Small Businesses initiatives. Real estate investments range from opportunistic ground-up development to core plus acquisitions of affordable and workforce housing portfolios. UIG has committed over $25 billion to create access to affordable housing, healthcare, education, and capital for low-income people and small businesses.
Responsibilities:
- Manage, develop and lead a global team (including team members in India, Dallas and New York City) of Asset Managers across UIG investments
- Manage all or a portion of a portfolio of debt, equity and tax credit investments that finance real estate developments including mixed-income and affordable housing, retail, office, industrial and charter school facilities
- Oversee internal asset valuation modeling, business plan preparation and execution, developing monthly cash flow projections, supporting leasing strategy, collecting financials and reviewing budgets
- Oversee preparation of monthly and/or quarterly reporting, and working with third parties, including operating partners, brokers and property management companies
- Build and manage relationships with external operating partners and internal counterparts across GS’s real estate investing and asset management platform
- Develop and support execution of asset strategy, including financial and asset performance data, in conjunction with UIG leadership, investing personnel and operating partners
- Oversee asset disposition efforts including: contract negotiation, writing investment committee memorandums, presenting to investment committee, finalizing disposition models, calculating waterfall returns, transaction management and closing
- Drive exits and compliance/covenants monitoring on tax credit equity and debt transactions
- Research and evaluate market trends, rental rates and occupancy trends to update investment assumptions within models
- Engage and provide oversight of third parties which perform the day-to-day operations of the assets, including, but not limited to operating partners and property management companies
- Manage appropriate cadence for asset site visits
- Work closely with internal stakeholders such as Finance, Compliance and Legal
- Maintain performance reports for internal tracking and reporting
- Ensure technical training is available to junior team members, and support for their development and growth within the team and firm
Qualifications:
- Bachelor’s degree from a four-year college or university
- Minimum 7-10+ years of asset management and transaction experience, ideally with asset management experience across multiple real estate product types
- Solid real estate modeling skills with advanced Excel skills; experience with Argus, Yardi or RealInsight a plus
- Analytical / logical mindset and high attention to detail
- Strong written and verbal communication skills with the ability to present strategies and business decisions clearly and concisely
- Demonstrated ability to successfully manage internal and external relationships
- Ability to work in a fast-paced, challenging environment; ability to prioritize
- Self-motivated with ability to work both autonomously and in a team setting
- Passion for helping solve entrenched challenges facing underserved communities
- Desire to create positive change through double-bottom-line investments in real estate impact investing
- Interest in working collaboratively with the public sector, spanning municipal, state, and federal government, and navigating any resulting complexities