Job Summary

VME Real Estate Transactions & Corporate Finance (TCF) Associate Manager

Within TAS, Real Estate (RE) group is part of Valuations, Modelling and Economics sub-service line. Our RE practice provides real estate valuation, analytical services and other business advisory services to developers, builders, investors, lenders and Fortune 500 companies.

With over 500 RE professionals worldwide (~45 in GDS RE), no similarly positioned global qualified organization can match breadth of our capabilities or depth of our resources. GDS RE works as a strategic partner to global RE practices, working with them to provide highly efficient and value-added services to meet our clients real estate valuation and diligence requirements.

Your opportunity

Were looking for Associate Manager with expertise in real estate valuation to join the valuation group of our Real Estate Valuation Team.

As a member of the Ernst & Young Real Estate team, the Associate Manager will serve as a project lead and/or member of multiple client engagement teams around the world (US, UK, Germany, Australia etc) which primarily assist in real estate and hospitality advisory engagements in a fast-paced, service-oriented business environment. Associate Manager will work on a wide variety of real estate and hospitality-specific clients including owners, developers, builders, financial institutions, lenders, pension funds, as well as numerous Fortune 500 companies.

Typical engagements include CRE underwriting, appraisals and valuations, review of valuation analysis, market studies/research, cash flow analyses, due diligence, portfolio analysis and cash flow modelling.

This is a fantastic opportunity to be part of a leading firm whilst being instrumental in the growth of a valuation service offering.

Your key responsibilities





- Serve as a member of multiple client engagement teams, taking a lead role in understanding clients needs, conducting analyses and reporting results
- Lead and manage commercial real estate underwriting and due diligence engagements across a broad range of property types including multi-family residential, office, retail, hotel, industrial, mixed-use, infrastructure, and special-use properties
- Perform comprehensive loan underwriting and asset-level analyses, including review of historical operating performance, cash flow sustainability, analysing general ledgers and financial records to identify unusual transactions and key credit considerations.
- Conduct detailed revenue and expense review procedures by analysing rent rolls, bank statements, check deposits, operating expense invoices, property tax records, lease agreements, and supporting property documentation.
- Review, abstract, and analyse complex lease agreements, amendments, estoppels, and other tenancy documents to identify critical lease terms, reimbursement structures, rent escalations, renewal options, concessions, and termination provisions.
- Prepare and review Asset Summary Reports (ASRs), underwriting memorandums, due diligence reports, and other client deliverables summarizing property performance, risks, mitigants, and investment considerations.
- Specific engagement will include financial and cash flow modelling, market research, real estate documents analysis (including site/building plans, leases, appraisals,



and mortgage underwriting/lending documents), asset valuation (PPA/fair value), and report writing
- Challenge yourself to continually learn and teach, mentoring others while developing your own career
- Take ownership of your projects, while working collaboratively with other team members
- Maintain and develop positive, productive, and professional relationships with clients
- Supervise, develop and mentor professionals at the Staff and Senior level
- Ability to manage a team of 3-5 professionals; Conducting timely performance reviews for employees and developing other professionals by providing effective performance feedback and training to them. Leading by example.
- Use current technology and tools to enhance the effectiveness of services provided.

Skills and attributes for success

- Commercial real estate underwriting, due diligence processes, and credit analysis across multiple property types and loan products
- Asset Summary Reports (ASRs), underwriting memorandums, due diligence reports
- Valuation using Income Approach (Discounted Cash Flow and Direct Capitalization) and other methods (NAV/Cost; Precedent Transaction Analysis)
- Developing valuation models and highest and best use valuation analysis for financial reporting, tax planning
- Proficient at using research databases like LoopNet, REIS, RCA, CoStar, CBRE, JLL, C&W;, Capital IQ, One Source, Factiva, Reuters
- Analyzing financial statements, market research studies and preparing reports; application of Free Cash Flows, Terminal value, Discount rate, WACC, Advanced MS Excel models
- Lease clauses (options, economic terms, terminations)
- Excellent analytical, project management, communication, interpersonal and teaming skills
- Willingness and ability to travel

📌 EYP - VME - Associate Manager (Bengaluru)
🏢 EY
📍 Bengaluru