About Hone Capital:
Seeking a Real Estate Investment Analyst in Palo Alto, CA
Hone Capital, LLC (Hone) is a privately-owned investment management firm, investing in venture capital, private equity and real-estate strategies in the United States. Located in downtown Palo Alto, Hone invests on behalf of a leading private equity firm in China, as well as other institutional investors.
Hone launched the real-estate investments strategy in February 2017 after spending 8 months studying the opportunity and seeking the advice of two of the co-founders of Invitation Homes (a unit started by Blackstone which went public in February 2017). One of the early advisors remains a senior Strategic Advisor to Hone Capital. Hone organized a pool of equity and leveraged capital of ~$140M for its initial investments into single family rentals (SFR) in select geographies in the United States. As of today, Hone Capital has invested over $75M in this strategy with a pipeline to close an additional $25M to $40M by December 31, 2018.
Now, Hone is looking to rapidly scale its capital and continue expanding its SFR footprint. Given its venture expertise, Hone focuses on leveraging technology across the SFR value chain from asset identification, asset assessment, post investments tracking as well as studying new start-ups that can be leveraged in the property management side of this strategy as well.
Hone is seeking an Analyst with very strong quantitative skills with a preference for a candidate who may have basic coding skills (Python, SQL etc.). The Analyst will be responsible for maintaining all quantitative metrics of the portfolio and the overall portfolio model and returns. Additionally, the Analyst will assist in due diligence, maintaining all documents relating to acquisitions, and liaise on a daily basis with the JV partner, leveraging the JV partner’s technology platform to review the existing portfolio housed in that platform. The Analyst is required to have strong verbal and written communication skills as he or she will also assist in all real-estate fundraising efforts and liaise with the leverage partner and multiple third parties.
- Maintain all aspects of the master model relating to the real-estate strategy. This encompasses tracking the existing portfolio and its performance as well as maintaining a pro-forma model projecting future growth. The model requires intense rigor in ensuring accuracy and quality control and should be architected and maintained in a manner that easily facilities changes in key assumptions such as: economic growth, interest rate changes, rent changes, leverage changes and also the form of investor capital (debt or equity).
- Participate in frequent calls with JV partners and others in the industry to assess performance of existing portfolio
- Gather, file and analyze all financial information about the real-estate portfolio
- Review activities daily in JV partner’s technology platform where details of the Hone portfolio are maintained
- Be the key go-to individual for organization of all portfolio, market data in a structured format and in a data warehouse that easily facilitates running key performance information, portfolio information, etc.
- Support all due diligence efforts when assessing potential portfolios and initiate all underwriting on such potential acquisitions
- Actively research on SFR market trends, public news, competitors’ activities, as well as broadly track macroeconomic variables
- Prepare investment reporting packages for advisors and firm’s partners as required
- Assist in all fundraising efforts, including maintaining and updating marketing materials
- Maintain and improve on internal portfolio tracking and analytics tools
- Contribute to overall Hone team effort to continue to leverage strong technology tools across the firm’s venture and real-estate strategies
- Minimum of two years of experience in small-to-mid-size firms which have more hands-on and self-directed environments, with a preference for two years of work experience in real-estate or related sector
- Bachelor’s degree with strong knowledge of accounting and finance as well as some coding skills
- Excellent Excel and data management skills
- Understanding of basic accounting and financial statements
- Database management skills and preferred experience with Python and SQL
- Strong interpersonal skills and work ethics
- Rigorous analytical and organizational skills, attention to detail and information quality with ability to multi-task
- Strong verbal and written communication skills in English
This position will report to the partners who manage the real-estate strategy at Hone Capital on a day-to-day basis and also take guidance from other senior team members
Commensurate with market; key health and other benefits included
Palo Alto, California
WE INVITE CANDIDATES TO FORWARD THEIR RESUME TO JOBS@HONECAP.COM, WITH SUBJECT TITLE: REAL ESTATE INVESTMENT ANALYST POSITION
It is the policy of Hone Capital to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law.