Associate – Real Estate Investments

Job Description

Associate, Real Estate Equity | Ares Management

The Tone
This is a full-time role at Ares Management, based in the U.S. Ares Management is a global alternative investment manager whose success is built on its people and culture, guided by core values such as collaboration and responsibility. The firm aims to be a catalyst for shared prosperity and a better future by fostering an inclusive environment where high-performance talent can build careers. This Associate position is a key member of Ares’ real estate private equity team, which includes over 320 investment professionals globally. The role is critical for assessing real estate investment opportunities for diversified funds, encompassing the acquisition and development of industrial, multifamily, office, retail, hotel, and adjacent property sectors across key U.S. markets.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: US-based (Investments focus on key markets across the U.S.)
• Pay: $155000–$175000 yearly
• Team: Real Estate Equity team, comprising over 320 investment professionals and 375 operating professionals globally, reporting to a Vice President, Real Estate Equity.
• Mission: To drive sound real estate investment decisions by thoroughly underwriting, financially analyzing, and conducting comprehensive due diligence for acquisitions and developments across various US markets, while actively supporting asset management and sales of the Fund’s investments.
• Tech Stack: Excel, PowerPoint, ARGUS (proficiency helpful but not required)

What You’ll Actually Do
• Financial Modeling & Underwriting: Create detailed and complex financial underwriting models for the acquisition and development of real estate investments, spanning core/core-plus, value-add, and opportunistic strategies, while developing a thorough understanding of each deal’s capital structure, business plan, and key risks.
• Due Diligence & Market Analysis: Perform comprehensive asset-level and market-level due diligence, which includes understanding physical property characteristics, critically evaluating existing and potential operating metrics (revenue, expenses, capital expenditures, tenant credit, leases), and identifying demand drivers through independent field work and direct contact with market participants.
• Investment Recommendation & Presentation: Synthesize gathered market information and project assessments to draw conclusions on future market conditions, critically assess development team execution ability, and communicate these findings into a comprehensive narrative for senior management consideration and approval, actively participating in Underwriting and Investment Committee discussions.
• Asset Management & Disposition Support: Participate in and provide crucial support for the ongoing asset management of each investment, encompassing activities such as financing, refinancing, making major asset-level decisions, and strategizing for the eventual sale of each property.
• Legal Documentation Review: Collaborate with the investment team and legal counsel to review and understand legal documentation throughout the negotiation processes related to acquisitions, developments, and dispositions.

The Must-Haves
• Background: A Bachelor’s Degree or international equivalent in Business, Finance, Real Estate, or a closely related field, demonstrating exceptional academic credentials.
• Experience: 2-4 years of finance experience, preferably with previous exposure in real estate investment banking or real estate private equity.
• Skills: High level of expertise in Excel for complex financial modeling; strong proficiency in PowerPoint for presentations; excellent communication skills for narrative development and committee discussions; strong interpersonal skills for internal and external relationships; and meticulous attention to detail in all analytical and documentation tasks.
• Bonus: Willingness and ability to travel as required for site visits and market research; demonstrated creative problem-solving abilities.