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SalaryAt Barings, we are as invested in our associates as we are in our clients. We recognize those who work diligently for us and reward them for personal and professional integrity, communication skills, distinct competencies and expertise in specific strategies, ability to collaborate as a team member and true dedication to the interests of our clients.
We thank you for your interest in joining the Barings team, and invite you to explore our current employment opportunities.
Title: Senior Associate or Associate, US Real Estate Equity (Hotel Group)
Department: Hotel Group
Location: Chicago
Barings is a global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, Real Estate and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. Learn more at
www.barings.com
. Primary Responsibilities
- Asset Management:
- Maintain critical monthly, quarterly and annual portfolio, asset management and acquisition information, reports and analytics.
- Interface with on-site and regional hotel management personnel and clients, as necessary, to provide timely asset level and portfolio reporting and accurate database tracking
- Provide financial/ statistical analysis on for monthly and quarterly reports as well as coordination with asset managers to complete monthly, quarterly and annual loan reporting requirements.
- Monitor loan covenants and tests to ensure compliance for hotel/portfolio debt to remain in good standing.
- Work with asset managers to produce quarterly valuations of all hotel properties in portfolio.
- Assist Portfolio Managers and Director / Managing Director, Hotel Group with completing the quarterly report process, including coordination and collection of data and writing/reviewing text.
- Support Hotel Asset Management team with analysis of market economics, regional economy, operational feasibility, and flag/manager capabilities.
- Assist Asset Managers by reviewing key property P&L/STR information on a monthly basis.
- Participate in monthly/quarterly hotel operating reviews, virtually or in-person, as directed. Assist in coordinating and setting up “war room” for all hotel dispositions; work with Asset Managers, administrators and brokers.
- Perform return on investment” /payback analysis on potential capital investment programs
- Acquisitions / Development:
- Assist in underwriting and analyzing potential hotel acquisitions with Director and Managing Director Hotel Acquisitions/Development
- Gather and evaluate economic, demographic, and Real Estate market data generally and for markets targeted for investment opportunities.
- Prepare acquisition investment briefs and related support material.
- Provide support for acquisition financing, including detailed financial projections required by brokers and/or potential lenders.
- Review legal and other materials as part of the due diligence process; abstract key documents.
- Maintain up to date hotel sales transaction database and complete and up to date pipeline of investment opportunities.
- Develop and maintain a strong professional industry network for sourcing critical industry information and sourcing potential investments
Market/Research Information Collection
- Responsible for coordination of Smith Travel Research (CoStar) information in AssetEye (monthly, weekly & quarterly) as well as Salesforce data input and integrity for pipeline
- Maintain file of key industry reports and articles to ensure Hotel Group is consistently up to date with most recent industry trends as well as an organized electronic repository of past deals reviewed
Maintain and Further Refine financial models
- Quarterly Valuation Model
- Total Return Matrix
- Mock Liquidation Model
- Portfolio Cash Flow Model
- Debt Summary Model
- Fund Quarterly Report Models
- Other:
- Work independently or with colleagues to conduct hotel loan reviews for the Barings debt origination teams, including analysis of asset level financial performance and future cash flow potential while identifying key risks.
- Assist in preparing presentations to outside parties/clients as necessary.
- Provide coaching/ mentorship and training for Analyst level staff in the Hotel Group including prioritization of Analyst work flow and review of Analyst work on financial models
- Interface with Barings Research and Capital Markets teams on potential acquisition and financings
Other related duties as may be assigned from day to day.
Qualifications
- Bachelor’s Degree is required with a major in Business, Economics, Finance, Accounting or Hotel Management or a closely related field strongly preferred
- 1-3 years of direct hospitality related work experience preferred.
- Strong systems and computer skills (report development, PowerPoint).
- Strong knowledge and mastery of financial modeling and analysis programs Excel required, ARGUS preferred.
- Prior valuation, asset management, consulting, brokerage or acquisition analyst experience strongly preferred.
- Strong analytical skills.
- Ability to understand and extract key metrics from hotel financial statements (P&L, balance sheet, cash flow reports)
Competencies
- Strong analytical and reasoning skills
- Highly developed written and verbal communication skills
- Develops strong and effective relationships with all areas across the organization
- Ability to influence others and win support on critical issues
- Ability to work independently and as part of a team
- Attention to detail and the ability to work on multiple projects simultaneously
- Must have strong customer service focus
- Self-starter with a proactive approach
- Must possess a high standard of professionalism and integrity
- Ability to prioritize, multi-task and meet tight timelines consistently
- Innovative; handles complexity and issues quickly
Barings is an Equal Employment Opportunity employer; Minority/Female/Age/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply.
Barings offers a comprehensive benefits package including:
CORE BENEFITS & WELLNESS
- Medical (including Virtual Care), Prescription, Dental, and Vision Coverage
- Fitness Center Reimbursement Program (Including Online Memberships)
- Employee Assistance Program (EAP)
- Fertility Benefits
FINANCIAL WELL-BEING
- Highly competitive 401(k) Plan with Company Match
- Health Savings Account (HSA) with Company Contributions
- Flexible Spending Accounts (FSA) - Health Care & Dependent Care
- Retirement Health Reimbursement Account
LIFE INSURANCE
- Basic and Supplemental Life Insurance
- Spouse and Child Life Insurance
TIME OFF, DISABILITY AND LEAVE OF ABSENCE
- Paid Vacation, Sick Days and Annual Holidays
- Paid Leave of Absences (Maternity Leave, Parental Leave, Caregiver Leave, Bereavement Time)
- Short and Long Term Disability Plans
- Paid Volunteer Time
OTHER BENEFITS
- Education Assistance Program
- Charitable Matching Gifts Program
- Commuter Reimbursement Program
- Adoption and Surrogacy Reimbursement Program
