Associate, Debt Strategies

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Full Time Staff WeWork - LA, Beverly Hills, CA, US

30+ days ago Requisition

Salary Range: $ To $ Annually

Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 27 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With nearly $12 billion in assets under management, Lightstone’s portfolio currently includes over 15 million square feet of industrial, logistics, life sciences, and commercial properties, over 25,000 residential units, and over 5,100 hotel keys.

Lightstone Capital (“LSC”) is an alternative commercial real estate lender primarily focused on direct origination of first mortgage bridge loans on transitional commercial real estate assets inclusive of all real estate sectors and domestic U.S. geographies. LSC is a fully integrated lender managing the origination, underwriting/execution, asset management, and loan servicing processes in house. LSC’s corporate headquarters is located in NYC with satellite offices in Miami and Los Angeles.

Though the primary focus of LSC is first mortgage bridge loans, LSC has also been active in mezzanine, note-on-note, and preferred equity investments and continually seeks unique investment opportunities to produce outsized returns. The Debt Strategies Associate will work in supporting the origination and deal execution teams on the screening, underwriting, and closing process for new investments and will remain involved in the deals through their life cycle.

The successful candidate will be responsible for supporting the West Coast Director of Originations & debt strategies group, supporting the origination and deal execution teams on the screening, underwriting, and closing process for new investments and will remain involved in the deals through their life cycle. The ideal candidate is a motivated self-starter with a strong work ethic and desire to work in a fast‑paced, team oriented and entrepreneurial environment.

Candidates must have significant underwriting and direct real estate debt investment experience.

This position is available for immediate hire and will report to the Director, Originations, West Coast based in LA.

• Responsible for supporting the debt strategies team in underwriting and executing new investments for a wide range of commercial real estate transactions. Investments include senior bridge loans, mezzanine loans, and preferred equity backed by virtually all property types throughout the US.
• Prepare financial and text analysis on a wide array of real estate debt transactions; organize and manage due diligence and offering materials during the marketing and closing processes; interface with lenders, developers, investors, attorneys, and 3rd parties.
• Build Excel models and prepare committee packages for the evaluation of new CRE loan originations and investments. Evaluate investment merits and risks, market dynamics, and projected investment returns.
• Create Excel models including cash flow projections, multi‑tier IRR waterfall models, sources and uses, project budgets, rent rolls, historical operating statements, rent comps, sales comps, lease expiration schedules, stacking plans, amortization schedules, etc.
• Assist in the structuring and closing of CRE debt transactions. Credit, legal, market and other diligence.
• Lead and manage the due diligence efforts through the closing process.
• Oversee transaction execution, including negotiation of loan documentation.
• Draft investment memorandums and assist in presenting opportunities to investment committee.
• Assist in asset management efforts including business plan and asset valuation updates, as well as property inspections.
• Assist in developing and maintaining the firm’s relationships with…