Hotel Asset Management and Acquisitions Associate

About Fortress

Fortress Investment Group LLC is a leading, highly diversified global investment manager with approximately $49 billion of assets under management as of March 31, 2024. Founded in 1998, Fortress manages assets on behalf of over 2,000 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. Investment performance is our cornerstone - we strive to generate strong risk adjusted returns for our investors over the long term. For additional information on Fortress, please visit www.fortress.com.

About Real Estate Equity Team

The Fortress Real Estate Equity team began investing in 2009. Leveraging the breadth of the Fortress platform, the team’s purview spans the globe with a focus on the US, Japan and Western Europe.

• We target mid-sized opportunities where our institutional approach and differentiated asset management capabilities drive value creation for our investors
• We have invested over $10 billion of equity globally across more than 400 real estate transactions
• We passionately care about our investments and believe the rigor of our processes leads to enhanced outcomes

About the Position

Fortress’s Dallas office has an opening for a Hotel Asset Management and Acquisitions Associate to join the commercial real estate team, specifically focused on principle equity for hospitality investments. The candidate will directly support a Managing Director and a Vice President with asset management, deal screening, underwriting, and due diligence of a portfolio of Hospitality investments.

Responsibilities

• Asset management of the investments through execution and refinement of the business plan to achieve the investment goals

• Monthly reviews of financial statements, STAR reports, and market data, and regular communication with property manager to stay apprised of asset performance and market trends

• Involved with the oversight of CapEx projects including processing construction draws and cash management

• Perform regular valuations of assets/investments

• Perform ad hoc hold/sell analysis, refinance analysis, and ROI analysis as needed

• Supporting acquisitions team through screening of potential hospitality investments including desktop underwriting, fact checking, due diligence and recommending investments

• Modeling assumptions for underwriting of new acquisition opportunities

• Assist acquisitions team with investment memo creation, preparation and presentation to investment committee

• Assist with business plan development including market analysis, operations and renovations

• Reviewing and understanding loan documents, franchise agreements, property management agreements

Qualifications

• 2 - 5 years of direct and hands on experience in hospitality investing and asset management, preferably in a hospitality REIT, private equity firm, or other hotel ownership environment

• A Bachelor’s degree in accounting, finance, real estate or hospitality

• Experience in distressed, opportunistic, repositioning and value-add hospitality investments a huge plus

• Prior asset management, property management, and construction oversight experience also a plus

• Strong modeling skills including regular use of Excel and MS Office programs

• Developed relationships with brokers and, ideally, owners and brands throughout the country

• Excellent analytical skills, acute attention to detail, and strong organizational skills

• Outstanding written and verbal communication

• Self-starter, able to work independently or in a team environment

• Demonstrated flexibility to handle multiple projects in a fast-paced environment