Real Estate - Asset Management, Associate

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $1.1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.

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Real Estate – Asset Management, Associate

Real Estate, Asset Management

Associate

New York, NY

Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $315 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire under managed, well-located assets across the world.

Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Job Description:

Associates focused on asset management will work on post-acquisition transactions including restructurings/recapitalizations, refinancing, dispositions (public IPOs and private market sales), as well as the strategy and execution of value enhancement projects, including lease and management negotiations, capital expenditure execution, and platform company strategy and direction.

Associates at Blackstone have the opportunity to participate in all aspects of projects and can expect to be staffed on a number of assignments at one time. Associates are expected to assume integral roles on deal teams with typical work including:

• Real estate and public company valuation analysis
• Performing analyses to drive investment, financing, capital and sale decisions
• Leading due diligence and execution of transactions
• Interfacing with market participants including deal counter parties, external advisors, and platform company leadership
• Attending site tours
• Assisting with legal negotiations and due diligence
• Developing investment budgets, strategic plans, and presenting asset valuations
• Excel financial modeling
• Drafting of memoranda and presentations for internal and external use
• Market research and data analysis

Qualifications:

Blackstone seeks to hire individuals who work well in a team-driven working group, are highly motivated, intelligent, have sound judgment and have demonstrated excellence in prior endeavors.

The successful candidate should have the following qualifications:

• 2+ years of prior investment banking or real estate investment experience
• Strong verbal and written communication skills
• A desire to work in a team environment with dynamic roles
• Strong understanding of accounting, finance, and economics
• Self-motivation to find solutions independently, and humility to acknowledge limits and uncertainties
• Sincere commitment to professional development
• Excellent attention to detail
• Intellectual curiosity
• Good judgment

The duties and responsibilities described here are not exhaustive and additional assignments, duties, or responsibilities may be required of this position. Assignments, duties, and responsibilities may be changed at any time, with or without notice, by Blackstone in its sole discretion.

Expected annual base salary range:

$125,000 - $160,000

Actual base salary within that range will be determined by several components including but not limited to the individual’s experience, skills,…