Investment Analyst (Real Estate)

Elevation is a fast growing, dynamic investment manager specialised in the UK and European healthcare and senior living real estate sector.

With a strong focus on creating social impact and maximising the environmental credentials of the underlying real estate, Elevation manages approx. 130 assets (with 10-15 under construction at any given time) in the elderly care, rehabilitation, mental health and hospital sectors, worth over £2.4bn, across 9 investment partnerships with blue chip institutions.

Elevation partners with high-quality operators and developers of healthcare and senior living real estate in 4 countries (UK, France, Germany and Spain), and focuses on investing and managing capital and impact across three key strategies:

• Leased real estate:
• ---- UK: we invest in care home real estate which is leased to healthcare operators on NNN / FRI leases
• ---- Europe: we have launched a new strategy to invest in real estate leased to senior living operators in Germany, typically on NN / NNN leases
• Senior Housing Operating Platforms: we combine real estate ownership with active management of our healthcare operator partners to enhance performance, support growth, and improve the quality and resilience of our assets
• Credit: we extend loan financing to senior housing developers and operators to develop new sites, acquire operating assets, or provide working capital to fuel the growth of their business

The Successful Candidate

We are looking for an enthusiastic, hands-on team player with an entrepreneurial spirit and a strong desire to learn and develop.

The successful candidate will be motivated by the opportunity to broaden their responsibilities as the role evolves, and to contribute to a fast-growing company with active capital resources and a strong brand in its field.

As part of Elevation's growing team, you will benefit from significant scope for personal development, increased responsibility and day-to-day interaction with the Partners.

Responsibilities

Working closely with leadership, you will play a key role in appraising new opportunities and supporting transactions through each stage of the investment process across Elevation's leased real estate, operational platform and credit strategies.

The role is underwriting-focused, with scope to develop into a full-lifecycle position as you grow with the business. You will also be expected to build relationships with external stakeholders such as operators, developers, building contractors, advisors and investors.

Key Responsibilities

• Financial modelling and underwriting for acquisitions and development appraisals across the healthcare and senior living sectors
• Investment analysis and due diligence on prospective transactions, including operational, financial, tax, legal and market due diligence
• Support the appraisal of new investment opportunities across leased real estate, operational platforms and credit strategies
• Prepare investment committee papers and memoranda, and support transaction execution
• Analyse debt and equity funding structures, including drawdown and covenant monitoring on development loans
• Support reporting throughout the development and asset lifecycle, including monthly drawdown reports, portfolio reforecasting, budgeting and bank reporting
• Growing exposure to origination, delivery and disposal as the role develops

Skills and Other Requirements

• Strong financial modelling and underwriting experience in the living/healthcare sector, mixed-use or other real estate asset classes
• Proficient in Excel (tested at interview) with the commercial judgement to back the numbers
• Understanding of the key commercial and legal terms used in real estate finance transactions
• Ability to carry out thorough financial analysis of businesses, operator covenants and net asset value statements
• Ability to identify material business and credit risks
• Either
• ---- Master, CFA or equivalent post-graduate qualification and relevant internship experience in real estate investing, private equity, investment banking, M&A, or a central function at a real estate platform, OR
• ---- 1-2 years' relevant experience in real estate investing, private equity, investment banking, M&A, or a central function at a real estate platform
• Additional European language skill (German, Spanish or Italian), given Elevation's operations across those markets
• Applicant must have the right to work in the UK

Beneficial

• Knowledge of the UK and European property markets, real estate finance, and development lending experience
• Knowledge of real estate lending procedures, including credit and drawdown processes
• Understanding of property valuation principles, including the comparable method, discounted cash flow and direct capitalisation
• Understanding of the FCA regulatory environment and ability to follow compliance processes and procedures

Core competences

• Meticulous attention to detail
• Ability to multi-task and work in a fast-paced, team-oriented environment
• Clear, concise communication with internal team and external stakeholders
• Hard-working, conscientious and persistent
• Fast learner

Compensation

Market-based compensation package with base and bonus structure and full benefits.