Senior Associate, Underwriting
Posted on Saturday, January 13, 2024
A bit about us
We’re a venture-backed startup on a mission to change the future of hospitality and home. With properties in some of America’s most-loved cities, our unique platform allows buildings to blur the line between hotels and apartments. This all-in-one solution includes property operations, customer acquisitions, and the tech stack to operate with more flexibility than any other company in the market.
Our tech-enabled buildings create one-of-a-kind guest experiences and tremendous value in the underlying real estate. Whether guests are with us for a night, a year, or somewhere in between, these are more than just spaces to spend the night—they’re a place to call home.
Our property team members bring our business to life at each building, focusing on execution, along with resident and guest experience. Our non-property team members support property execution and the evolution of other areas within our platform.
Join our dynamic Real Estate Partnerships Team as a Senior Associate, Underwriting. Your primary responsibility will be to facilitate the underwriting process for our growing pipeline of Placemakr-branded hybrid hotel/multifamily projects. This role demands a proactive approach, exceptional analytical skills, and a deep understanding of the unique operational economics of the platform’s model. Your work will directly contribute to our strategic decision-making, impacting the company's growth and success in flexible-stay properties.
- Lead the underwriting process for Placemakr-branded properties, including comprehensive market research, comparative analysis of residential and hospitality properties, and detailed operational cost and revenue analysis.
- Develop and refine revenue forecasts, incorporating unique aspects of Placemakr’s hybrid hotel/multifamily model.
- Conduct in-depth research on comparable properties and market data, focusing on both controllable and non-controllable expenses.
- Analyze internal income statements to ensure alignment of forecasts with Placemakr’s operational standards.
- Create detailed project pro formas, outlining potential revenue, expenses, and net operating income, for internal stakeholders and partners.
- Engage in partner negotiations, particularly concerning Property Management Agreements, and update underwriting models to reflect evolving deal terms.
- Collaborate with various departments to analyze operational data, refining underwriting processes for future projects.
- Construct innovative models and analyses that effectively communicate Placemakr’s value proposition to potential partners.
- Play a key role in sourcing new deals and managing existing partner relationships through active participation in Ownership calls.
- Proactively identify and address potential roadblocks in deal execution, devising strategic solutions to ensure smooth project progression.
- Manage and prioritize a diverse portfolio of deals effectively, ensuring efficient allocation of resources and attention to critical projects.
- Additional duties and responsibilities, as assigned.
- Bachelor’s degree in Economics, Finance, Accounting, Hospitality, or other quantitative fields.
- 3 to 5+ years of experience in a role focused on underwriting in the multifamily or hospitality sector, with a proven track record of successful project completion (experience in both hospitality and multifamily underwriting a plus!)
- Advanced quantitative, analytical, and technical skills, with a keen eye for detail and organization.
- Exceptional business writing and communication skills, with the ability to simplify complex ideas for diverse audiences.
- Demonstrated ability to work independently, coupled with a strong desire for continuous learning.
- A high degree of professionalism, integrity, and a commitment to excellence.
- Experience in high-growth, dynamic environments, with a flexible and adaptable approach.
- You Own It. You Make it Better. You Treat People Right.
Our benefits & perks
Competitive Pay, Generous Stock Options and Performance Bonuses
Medical, Vision & Dental Insurance with options for Flexible Spending Accounts
Paid Parental Leave
Paid Life Insurance
401k + 4% employer matching program
Unlimited PTO to allow time for you to recharge
Monthly cell phone reimbursement, health & wellness stipend and a generous onboarding stipend for remote employees
Plus, discounts to stay at select Placemakr properties all over the US
Our community norms
Great people are the key to our success. From corporate team members to our property teams and leaders, we’re looking for collaborative, driven individuals to join us as we continue to expand our presence across the US. Most importantly, we create positive community norms that shape our company culture and inform how we do business:
We own it.
We make it better.
We treat people right.
Placemakr will provide reasonable accommodation to complete an application upon request, consistent with applicable law. If you require an accommodation, please contact our team at email@example.com
All your information will be kept confidential according to EEO guidelines. Placemakr values diversity of all kinds and is committed to building a diverse and inclusive workplace where we learn from each other. We are an equal opportunity employer and evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, and other legally protected characteristics.
If you don’t meet 100% of the above qualifications, we still encourage you to apply!