Associate, Capital Markets
Located in our Dallas, TX corporate headquarters, the Associate, Capital Markets will be a member of Invitation Homes’ Corporate Strategy & Finance group. The Associate, Capital Markets will play an important role in shaping the strategy and execution that goes into the financing (both on and off-balance sheet) of a leading, single-family rental REIT with a growing portfolio of over 85,000 homes. Responsibilities of the role will include helping to lead the company’s strategic financing activity, especially with respect to secured debt financings, financial modeling and analysis, debt covenant compliance, interest rate hedging activities, and preparation for management meetings with banks, debt investors, rating agencies, JV partners, and other stakeholders. Through this role, the Associate, Capital Markets will gain exposure to many areas of Invitation Homes’ business and will work collaboratively with members of the company’s Finance, Accounting, Investment Management, and Operations teams. In addition, the Associate, Capital markets will form external relationships and engage with counterparts at lending institutions, loan servicers, trustees, rating agencies, and joint venture partners.
Invitation Homes has been among the top performers in the REIT space since its IPO in 2017, assembling a portfolio of over 85,000 homes valued at ~$30 billion. The company today continues to produce strong operating results and expects fundamentals in the single-family rental sector to remain supportive of growth. As a result, the company is seeking to add homes to its portfolio by investing its own capital and by investing through joint venture partnerships that it manages. The Corporate Strategy & Finance Team plays a critical role in that strategy by evaluating strategic opportunities and sourcing efficient capital to fund growth. For this Associate, Capital Markets position, the team is seeking an analytical thinker who is both detail-oriented and comfortable working in a fast-pace environment. The ideal candidate will also be comfortable working with others, efficient with data, a strong communicator, and eager to learn.
Essential Job Duties and Responsibilities
Provide analytical support for financing-related activities of Invitation Homes and the joint ventures that Invitation Homes manages, including Excel modeling, underwriting, and coordination with the Operations and Accounting teams to review, analyze, and report on the performance of homes serving as collateral for secured loans.
Help manage the preparation and execution of new financing transactions, including review of term sheets and loan agreements, analysis of financial impact to the balance sheet, liquidity, and P&L of the Company or joint venture, and assistance with third party due diligence requests.
Interface with lenders, loan servicers, trustees, rating agencies, and joint venture partners.
Proactively ensure compliance with lender and/or servicer requirements and debt covenants.
Monitor requirements of existing debt and hedging instruments to identify the need for notices and requests for maturity extensions, collateral substitutions, and other actions related to the company’s debt instruments, and communicate such actions to banks, trustees, and loan servicers.
Review invoices related to debt financing costs, interest, and hedging instruments to confirm amounts.
Update and maintain analyses of the company’s or joint ventures’ interest rate hedge positions.
Help oversee cash forecasting to determine the timing of capital needs for joint ventures.
Plan for and execute warehouse loan draws and other capital calls for joint ventures.
Contribute to annual budgeting and forecasting of capital markets activity and financing costs for Invitation Homes and its joint ventures, particularly as it relates to secured debt financing.
Assist in the preparation of presentation materials for management, current and/or potential investors and lenders, rating agencies, and joint venture partners.
Education and/or Experience
Bachelor’s degree. Advanced degree or certifications a plus, but not required.
3-5 years of experience in a capital markets or real estate finance role
Secured debt financing experience a significant plus
Comfort and familiarity with basic finance and accounting principles and financial statements
Experience with secured financing markets is highly beneficial
Proficiency with Microsoft Excel, Word, and Powerpoint
Effective problem solver and strategic thinker
High degree of intellectual curiosity
High attention to detail
Excellent organizational skills; ability to manage multiple competing priorities and deadlines
Well-developed written and verbal communication skills
Strong interpersonal skills and teamwork skills
Self-starter with a strong sense of ownership and accountability
Ability to maintain confidentiality
Must maintain professional appearance
Ability to work on a regular and consistent basis
Expected to be present in Dallas office most workdays, but flexible arrangements can be accommodated whereby remote work is permissible up to 2 days per workweek on average
Occasional travel required
Why Invitation Homes
We stand for flexibility, opportunity, and a home that people can make their own. It’s as true for our associates as it is for our residents. Just like we help our residents live freer, we liberate our associates’ careers, too. Our associates know that at Invitation Homes goals matter, potential is unlocked, and careers thrive. Invitation Homes isn’t just a work place it is a possibility place. Invitation Homes offers the below to each new associate:
Competitive pay and an annual bonus program for all associates
Generous paid time off plans including vacation accrual, sick time, volunteer time, and standard and floating holidays
401k with matching company contributions
Awesome work environment with casual dress
Team events and gatherings
Employee resource groups: Together with Women, Asian Alliance, Black Collective, Juntos, Gen Next, and Open Invitation.
Invitation Homes truly is where possibility lives, pour a new foundation here!