Commercial Real Estate Portfolio Management Analyst

Annaly Capital Management, Inc. (“Annaly”) is a leading diversified capital manager that invests in and finances residential and commercial assets. Annaly's principal business objective is to generate net income for distribution to its stockholders and to preserve capital through prudent selection of investments and continuous management of its portfolio. With approximately $99.3 billion in assets, our portfolio includes securities, loans and equity in both the residential and commercial markets. Annaly has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes.

Annaly is a vehicle for long-term asset ownership. We use our capital, coupled with various structured financing products to invest in assets in both commercial and residential markets, earning the spread between the yield on our investments and the cost of our borrowings and hedging activities.

Diversification is a pillar of the Annaly strategy. Since 2010 we have diversified our business model by investing in credit assets directly on balance sheet, complementing our portfolio of interest rate sensitive investments. This strategy is designed to achieve durable risk-adjusted returns over various interest rate and economic cycles by pairing shorter floating-rate credit securities with our longer, fixed-rate agency portfolio. The diversification strategy reaches beyond simply our investment in credit sectors. Within each discipline we have diversified our investments to produce balanced cash-flows and leverage profiles. Our breadth of investment options and robust capital allocation process combined with careful risk management enables us to take advantage of market inefficiencies and rotate into credit markets when dislocations occur and pricing is attractive on a risk-adjusted, relative value basis.

We believe the foundation of this success is our intellectual capital – our talented and capable employees.  With a nimble team of under 200 employees, Annaly seeks and values professionals who are innovative, experienced, driven and dynamic.  If you are interested in learning more about the Company, please visit

Role Summary/Purpose

The role is for an Analyst/Associate for the Annaly Commercial Real Estate Group’s (“ACREG”) Portfolio Management Team.  ACREG invests in a variety of real estate-related assets across both industry (multi-family, office, industrial, hospitality, retail) and product type (first mortgages, mezzanine debt, B-Notes, CMBS, preferred equity and real property).

Responsibilities       

ACREG’s  Portfolio Management Team expects analysts to be engaged in all aspects of real estate debt and equity asset management, including assistance with performance monitoring, asset visits, post-origination transition, strategy and execution of value enhancement strategies, asset valuation, budgeting and on-going underwriting, and related analysis.  Day-to-day responsibilities for this role will include supporting the portfolio management team in the monitoring of the performance of ACREG’s investments, including diligence and valuation of assets, and legal document compliance and work closely with ACREG’s originations, finance, legal, capital markets, and underwriting teams as well as senior management.  Analyst/Associate work may include:

• financial modeling and analysis

• investment valuations and return projections

• monitoring loan and joint venture document compliance

• conducting strategic asset reviews

• market research, data mining, comparable sale

• leasing analysis

• management of portfolio database

• development of presentations and  memoranda for internal and external use

Minimum Requirements

To be considered, applicants must meet the following criteria:

• Bachelor’s degree preferably in Finance, Economics, Mathematics, Real Estate or related discipline

• 1 to 3 years of commercial real estate asset management, debt or equity originations or underwriting experience

Desired

Prior analytical experience and a basic knowledge of real estate, accounting and finance

ACREG seeks to hire individuals who are highly motivated, intelligent, and have demonstrated excellence in prior endeavors.  In addition to strong analytical and quantitative skills, the successful candidate should (have):

• Above average modeling skills, including understanding of real estate underwriting and valuation terms, concepts and methodologies

• Thorough knowledge of Argus including the ability to understand, create and modify Argus models. Requires understanding of Argus input methods and various conceptual treatments of assumptions

• Understanding of complex loan and equity structures

• Computer proficiency with a strong working knowledge of Microsoft Office Suite of products, Excel, PowerPoint, Word

• Excellent written and verbal communication skills

• Strong organizational skills and attention to detail with ability to manage multiple projects simultaneously and prioritize work based on established deadlines

• Ability to work within a team and communicate effectively

• Strong interpersonal and customer service skills are essential, including the ability to create/build and maintain relationships with internal and external parties

• Ability to problem solve and think creatively when faced with new subject material

• Strong work ethic

Eligibility Requirements

• Must be willing to work in New York, NY, role is based in NYC

• Must be willing to submit to a background investigation

• Must have unrestricted work authorization to work in the United States

• Must be willing to work additional hours as needed to complete deadline driven projects

• Some travel required