Pennybacker II, LP; Pennybacker III, LP;
Pennybacker V, LP; Pennybacker EIV, LP;
Pennybacker Credit I, LP;
Pennybacker Real Estate Credit II, LP:
Pennybacker Evergreen Partners, LP:
Pennybacker Critical Infrastructure Partners I, LP;
PCIP I CI Coinvest, LP;
Associate / Senior Associate, Real Estate
Company Overview:
Headquartered in Austin, TX with offices in Denver, CO, New York, NY, Dallas, TX, and Charlotte, NC, Pennybacker is a nimble, data-driven private equity firm that invests across two multi-strategy real asset platforms within the United States: Real Estate and Infrastructure.
Position Overview:
Pennybacker is seeking a highly motivated, intellectually curious, and collaborative individual to join our Real Estate team as an Associate or Senior Associate in our Austin, TX office. The candidate will play a key role supporting our open-end core-plus (Pennybacker Evergreen Partners, LP or “PEP”) and long-duration Real Estate investment strategies. The individual will have responsibilities across all operational aspects of the PEP and long-duration Real Estate business, including assisting in the evaluation of new investment opportunities, leading strategic portfolio analysis, leading select investment-level operational management, and assisting with ad-hoc fundraising efforts.
The ideal candidate will have a firm understanding of real estate investments, possess strong analytical skills, and have a passion for identifying and solving complex challenges, with a strong drive for continuous improvement and innovation. This role offers the opportunity to work closely with senior investment leaders and contribute to the growth and success of our Real Estate investment strategies.
Key Responsibilities
Investments & Portfolio Optimization
- Support senior team members to identify and evaluate new investments
- Assist in the development of investment strategies as it pertains to key business plan initiatives to maximize returns and mitigate risks
- Lead investment-level business plan execution
- Prepare and effectively present investment memos and supporting analysis for internal and external stakeholders and be able to respond to question in a clear and concise manner
- Conduct comprehensive financial analysis and modeling, market analysis, and property valuations to assess the impact of business plan decisions (leasing, capex, refinances, sale, etc.) on investment-level return projections to support investment decisions
- Analyze financial and operational performance utilizing Pennybacker αTM and manage ongoing budget review and approval process for assigned portfolio investments
- Responsible for reporting and compliance with loan documents
- Evaluate and assist in the execution of transactions, including due diligence processes for loan closings, refinances, partnership restructurings, and sale transactions
- Support the Real Estate team in various ad hoc projects as needed
- Estimated travel 20-40%
Portfolio Management
- Evaluate portfolio strategy and performance relative to various benchmarks (NCREIF, NFI-ODCE, MSCI, etc.)
- Aggregate data and share observations with senior management in a sophisticated, concise fashion. This includes maintaining fund models, updating returns, and tracking liquidity, distributions, fees, and promotes.
- Run fund-level financial analyses assessing the impact of all major property-level decisions (leasing, capex, refinancing, sale, etc.) on fund-level return projections; evaluate prospective investment opportunities in the context of overall fund composition and performance.
- Contribute to fund raising and client relations efforts
- Assist in the review and/or preparation of quarterly investor and fund reporting
Qualifications
- Experience: 4+ years’ experience in real estate investment management
- Technical: Highly proficient in financial modeling and analysis (including the use of Microsoft Excel and Argus)
- Research: Relevant experience or strong familiarity with research tools (including CoStar, RCA, Greenstreet, etc.) and project management / data analysis tools
- Teamwork: Contributes to building a positive team environment
- Initiative: Identifies what needs to be done and acts before the situation requires it
- Problem-solving: Thinks creatively and identifies innovative solutions to existing processes and methods
- Resiliency: Ability to adapt and thrive in the face of challenges while maintaining a positive mindset and composure under pressure
- Communications: Excellent communication and interpersonal skills, with a demonstrated ability to collaborate effectively with diverse stakeholders
- Adaptable: Welcomes change and seeks out disruptive innovations to improve processes and overall business
Application Details To be considered for this position, please take the following steps:
1. Email your resume to info@pennybackercap.com.
2. Take the behavioral assessment. The behavioral assessment should take less than 10 minutes to complete. It is not a test, and there are no right or wrong answers.
Pennybacker II, LP; Pennybacker III, LP;
Pennybacker V, LP; Pennybacker EIV, LP;
Pennybacker Credit I, LP;
Pennybacker Real Estate Credit II, LP:
Pennybacker Evergreen Partners, LP:
Pennybacker Critical Infrastructure Partners I, LP;
PCIP I CI Coinvest, LP;