• Associate, Related Hospitality

    Job Locations US-NY-New York
    Job ID
    3407
    Function
    Accounting / Finance
    Location Name
    60 Columbus Circle
  • Overview

    Related Companies is the most prominent privately owned real estate firm in the United States. Formed over 40 years ago, Related is a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales.

     

    Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., London, and Shanghai and boasts a team of over 3,500 professionals. The Company’s portfolio of over $50 billion in real estate assets owned or under development is made up of best-in-class mixed-use, residential, retail, office and affordable properties in premier high-barrier-to-entry markets. Related has developed preeminent mixed-use projects such as Time Warner Center in New York and CityPlace in West Palm Beach and is currently developing the 28-acre Hudson Yards project on Manhattan’s West Side. Related also manages approximately $5 billion of equity capital on behalf of sovereign wealth funds, public pension plans, multi-managers, endowments, and family offices. Related was recently named to Fast Company Magazine’s list of the 50 Most Innovative Companies in the World.

     

    Related also owns Equinox® Fitness Clubs and SoulCycle further expanding the company's capabilities into the health and fitness arena and enhancing the value of its properties through an exclusive, branded amenity and lifestyle offering. Related is a partner in CORE, a boutique residential brokerage. For more information about Related Companies please visit www.related.com.

    Responsibilities

    Related Hospitality is the group within Related that is responsible for the development of Equinox Hotels.  Currently, there are Equinox Hotels underway in Hudson Yards, Chicago and Seattle, with several domestic locations in the pipeline. Related Hospitality is led by Ron Wackrow, to whom this position reports.  The group now consists of five professionals but is expected to approximately double in size in the near term. 

    The Associate will focus on all aspects of real estate acquisitions and development including financial analysis and modeling, site acquisition, due diligence, zoning, legal document review, budgeting, construction and design. The Associate will prepare detailed financial analyses and models including those for transaction underwriting and return on investment analysis, and will provide key takeaways to business units, corporate finance, and senior management. The Associate will also provide timely explanations of variances between actual results and forecasts/budgets.

     

    Other responsibilities include:

     

    • Assess investment opportunities for ground-up hotel development, to include: project feasibility, underwriting, structuring, due diligence, entitlements and financing. 
    • Underwrite opportunities, first and foremost, from a real estate perspective, and then, from a financial perspective.
      • Manage financial modeling process.
      • Lead detailed underwriting analysis.
      • Pro-actively update senior management on deals being pursued.
    • Conduct market assessments, site assessments, zoning assessments, and other due diligence related to site acquisition and development feasibility.
    • Underwrite new development deals. Prepare business plans, including annual operating plans, financial forecasts, strategic plans, and product introduction financial plans.
    • Author internal and external correspondence for transaction and property descriptions, offering memoranda for asset sales and capital raisings, and responses to RFP’s. Manage detailed municipal filings for various development related programs, such as real estate tax abatements and municipal financing applications.

    Qualifications

    • A minimum of 3-5 years of experience in underwriting hotel transactions, ideally for ground-up hotel development.
    • Strong quantitative, financial analysis and modeling, MS Excel skills are required.
    • Exceptional time management and prioritization skills are also required to succeed in a fast paced environment, managing multiple projects with significant responsibilities and competing priorities.
    • Coping skills, attention to detail, along with a strong desire to grow and succeed are critical.
    • Excellent communication and interpersonal skills at all levels are critical to success at Related.
    • Must be able to work well in groups but also independently to manage and own tasks.
    • Candidates that have a passion for real estate, a strong entrepreneurial mind, and strong work ethic will have the potential to become part of a growing company on the cutting edge of real estate development and an industry leader.
    • A minimum of a Bachelor’s degree, MBA preferred.

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