BlackRock Hiring for Associate, Real Estate Investments, Australia at Sydney, New South Wales, Australia Full Time

Description

About this role

About BlackRock Private Markets

BlackRock’s private markets platform serves investors seeking outperformance in infrastructure, private debt, private equity, real estate and multi-alternatives solutions. We strive to bring our investors the highest quality opportunities by drawing upon our global footprint, superior execution capabilities, proprietary technology and position as a preferred partner. As of June 30, 2023, BlackRock manages US$320 billion in liquid and illiquid alternative investments and commitments on behalf of clients worldwide

About BlackRock Real Estate In Australia

BlackRock Australia Real Estate is responsible for acquiring, financing, managing and disposing of primarily

closed-end value add real estate investments in Australia, for the APAC real estate business. We are a dynamic, private equity real estate team that is passionate about delivering above market performance and thinking differently to the broader market to achieve this. The team of 4 investment professionals in Australia currently manage approximately A$2.5bn of real estate across office, retail, last mile industrial and childcare. The team also provide real estate investment strategy recommendations for Australia to the APAC portfolio management group.

Role Description

ing to the Head of Australia, Real Estate, the role is an all-rounder role which will benefit from a dynamic scope including driving the evaluation, underwriting and due diligence of new investment opportunities along with being responsible for execution of investment management objectives throughout the hold period across a selection of assets within the portfolio. The role will require strong technical fundamentals of real estate investment management with an eagerness to develop these further over time and engagement with a variety of stakeholders both internal and external. The successful individual should be a team player eager to pro-actively contribute to a growing, dynamic platform with a strong track record. The role requires prior financial modelling skills (independence on modelling of new deals as a key responsibility), preferably some experience with asset management as well as strong communications skills. The individual must thrive in a dynamic team-based environment that demands perseverance and creativity in the investment life cycle of real estate assets, gathering and analysing information; and can balance multiple tasks and to work effectively in a global cross-border team.

Skills/Competencies

• Represent BlackRock in the market as a reputable player of the highest integrity consistent with the Firm’s values.
• Be a passionate student of the private equity real estate market, ensuring deep market understanding, knowledge, and participation.
• Maintain an up to date understanding of real estate market sectors, cycles, and key performance drivers.
• Strong modelling skills for new and ongoing reforecast investments without large oversight or supervision required.
• Lead in the preparation of investment proposals and investment committee memorandums.
• Ensure that all recorded investment data and written divestment/investment proposals are of the highest quality and consistent with the Firm’s set standards to facilitate comparison and analysis. Also be willing to question process and provide suggested improvements due to independent thinking.
• Source and provide research data supporting any update in key underwriting assumptions (markets rents, growth rates, vacancies, operating expenses, capital values, yields / cap rates, tax, financing, etc)
• Gain a full understanding of all the underwriting assumptions and testing these to optimise returns i.e., operating assumptions as well as capital structure and tax assumptions.
• Assist in due diligence for new deals including management of external stakeholders and synthesising large amounts of received data into a clear concise understanding of critical investment risks/drivers.
• Maintain effective working relationships with both BlackRock and external associates – e.g., joint venture partners, real estate consultants, valuers, bankers, financial & tax consultants, and legal counsels.
• Ability to deliver business plan for existing assets as required adopting a pro-active, energetic, and independent approach to owning results and ensuring all facets of the asset management phase are delivered to an above market standard. We are passionate, active real estate owners/investors.
• Preparation of accurate financial modelling for ongoing investments such as hold/sell analysis including sensitivity analyses to provide reliable, accurate actual/forecast investment returns.
• Interface with other functions within BlackRock (Funds Management, Corporate Finance, Finance, Risk & Quantitative Analysis, Legal, Risk & Compliance, Company Secretarial) to successfully close the transaction.

Experience, Skills & Knowledge Required

• Possesses tertiary academic qualifications, preferably in real estate/finance.
• 2-5 years experience in real estate, financial or other field of investment analysis preferred.
• Strong Microsoft Excel, Word & PowerPoint skills.
• Independent capacity to model real estate investments preferably from a value-add investment background. Complex modelling skills preferred.
• Proven experience in organizing and managing multiple priorities and tight deadlines.
• Flexible on working hours when needed, especially when investment or divestment is in progress and quarter end portfolio ing
• Excellent interpersonal and communication skills.
• Entrepreneurial spirit and a self-starter.

Our Benefits

To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Our hybrid work model

BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.

About BlackRock

At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.

This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.

For additional information on BlackRock, please visit @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

BlackRock is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to age, disability, family status, gender identity, race, religion, sex, sexual orientation and other protected attributes at law.