Investment Associate Opportunity in Singapore

This is an exciting opportunity to join an upcoming investment team in real estate investing and funds management focussed on value add and opportunistic real estate in South East Asia. In the role, you will be working across the capital structure of real estate equity, credit, and venture capital, focussing on hospitality oriented real estate.

Company Profile

Conduit House is a fully integrated asset manager and investor focused on hospitality-oriented real estate, where we identify and add value through repositioning, redevelopment and intensive asset management. With offices in Hong Kong, Singapore and Bangkok, Conduit House invests across the capital structure where assets are underperforming or in distressed situations, focussing on strong fundamentals with identifiable value enhancements and performance.

Responsibilities

Reporting to the Managing Director, you will play a key role in analysing and executing investments across the capital structure and funds management activities. The scope of responsibilities covers investment analysis, transaction execution, capital raising, assisting the asset management and development teams, and analysing new growth opportunities and initiatives for the Group.

Your responsibilities will include:

• Monitor and analyse real estate markets in key cities;

• Identify and evaluate potential acquisition, financing or investment into real estate projects;

• Lead and co-ordinate feasibility studies on real estate investment, development and/or enhancement opportunities;

• Conduct detailed financial analysis, modelling and internal bottom-up valuations;

• Lead and maintain transaction financial models using industry standards and best practices;

• Prepare investment memos and presentation of analysis and key findings;

• Manage the entire investment process from deal screening, deal structuring, due diligence, documentation and closing, post-closing investment monitoring to exit;

• Assist in capital raising and funds management activities;

• Assist in managing and performance monitoring of the Group’s assets and investments;

• Build and maintain strong and productive relationship with clients, co-investors and strategic partners; and

• Assist and collaborate with the Group's Asset Management and Development Management teams.

 Requirements

To be successful in this position you should possess the following attributes:

• Degree qualifications in either a Finance, Real Estate, or related discipline;

• Minimum of 6 years professional experience with a reputable investment or institutional bank, private equity, or real estate investment manager;

• Proactive individual who is resourceful and tenacious;

• Demonstrable deal execution experience with a focus for detail;

• Exceptional financial analysis and modelling skills;

• Previous experience in funds management is preferred;

• CFA or equivalent qualification is an advantage;

• Must be a Singapore Citizen or Permanent Resident.

 Compensation

The successful candidate will be paid a competitive compensation package. 

 Location

Raffles Place, Singapore. Considering COVID-19 measures, we are flexible with work from home arrangements.

 Application

Interested candidates should apply online at https://conduithouse.typeform.com/to/JCbiRyIU. Shortlisted candidates will be invited to interview via phone or in-person.

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Investment Internship Opportunity (Singapore)

This is an exciting opportunity to join a upcoming investment team in real estate investing and asset management for a 6 month internship program. You will gain experience across real estate equity, credit, and venture capital, focussing on hospitality oriented real estate in South East Asia.

Internship Summary

Conduit House has an opening for an Investment Intern to support the investment team in identifying, evaluating, and executing on investment opportunities in the hospitality real estate sector in the South East Asia region. The intern will also support the firm’s business initiatives both at the group level and within its portfolio.

You will gain experience and exposure to the following:

• Investment research and benchmarking in the real estate and hospitality sector.

• Assisting in the financial, valuation, and feasibility analysis to evaluate both existing and potential new investments.

• Assisting in preparing investment pitch decks and investment memos.

• Exposure to equity and credit transactions, funds management and capital raising for direct real estate.

• Real estate property technology and asset management.

• The above scope is non-exhaustive and may be reduced or expanded, depending on the intern’s interest, aptitude, and desire to gain experience.

Requirements

To be successful in this position, the candidate should possess the following attributes:

• Highly motivated self-starter who is pro-active, resourceful, adaptable, and tenacious.

• Graduate or undergraduate (at least in their third year) students who are pursuing or have completed a degree program in Finance, Accountancy, Real Estate, Hospitality or related disciplines.

• Candidates with prior internship or work experience (in an investment, asset management, research, or similar role) or top academic achievements will be considered favourably.

• Available to commit at least 12 weeks on a full-time basis throughout the internship period.

• Must be a Singapore Citizen or Permanent Resident.

 Location

Raffles Place, Singapore. Considering COVID-19 measures, we are flexible with work from home arrangements.

 Application

Interested candidates should apply on at https://conduithouse.typeform.com/to/x487wU2p . Shortlisted candidates will be invited to interview via phone or in-person.

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Successful Close of Aura Conduit House Hospitality Fund 1

Aura Group and Conduit House are pleased to announce the successful close of the Aura Conduit House Hospitality Fund 1 and investor side car into a USD$60 million structured credit investment into Tantakitt Company Limited (“TCL”) for the renovation, repositioning and build out of the iconic the Montien Hotel Bangkok.

The Montien Hotel Bangkok is located in a prime address in Silom, opposite Patpong’s famous night market, a preeminent entertainment and commercial district of Bangkok. Originally opened in 1967 as Bangkok’s first international standard 5-star full-service hotel, the Montien Hotel Bangkok established itself as an iconic landmark and hospitality leader, famous for Thai hospitality and service, and dining experiences.

The Montien Hotel Bangkok will undergo a major renovation, the “revival of the Original”, mixing modern Thai hospitality with the authentic experience and history for which the Montien Hotel Bangkok is famous. The mixed-use project includes extensive refurbishment and repositioning of the Montien Hotel Bangkok’s 500 rooms, construction of a 179-room serviced apartment and hotel, repositioning of an independent heritage listed neighborhood retail mall, the introduction of destination dining and bars, and market leading integrated banquet and MICE space. Engaging their complementary capabilities to deliver a bespoke hospitality solution for the financing, renovation works and repositioning, Aura Conduit House Hospitality Fund I assembled, structured and led the financing consortium, which included multiple institutional investors. 

“We feel honored to be involved in such an iconic and landmark project. Conduit House was able to deploy its integrated platform capability across asset management, technical services and investment.  The project presents a real showcase of Conduit House’s multi-disciplinary capabilities and the benefits of operating,” said Grant Healy, Chief Executive Officer of Conduit House.  “Aura Group offered a complementary set of capabilities and was an ideal partner for us on this project.  We look forward to continue working with Aura Group going forward.”

 “Aura Group is very pleased to be able to work with Conduit House to develop a comprehensive capital solution for TCL and the Montien Hotel Bangkok.  The investment demonstrates Aura Group’s ability to deliver bespoke financing solutions and our regional capabilities.  We are excited to continue working with Conduit House,” said Calvin Ng, Aura Group co-founder.

Project renovations and construction are set to continue through this year amid the backdrop of the Covid-19 outbreak. “The prime location and mixed-use nature of the asset underpins long term fundamentals, alongside resetting the Montien Hotel Bangkok as a destination for both the domestic market and tourists” commented Martin John Vagulans, Managing Director Investments at Conduit House.

The project reflects Conduit House’s ongoing expansion into hospitality investments in the region with an integrated approach to add meaningful value to assets through capital solutions, development, and active asset management.

Full copy of this announcement.

To hear more about other real estate opportunities at Conduit House, please contact martin@conduithouse.com.

Mori Hospitality invests into Conduit House to expand reach into real estate private equity

Hiroo Mori (right), President and CEO of Mori Hospitality Corporation with Grant Healy, Managing Director of Conduit House Limited

January 23, 2019, Tokyo – Mori Hospitality Corporation, a leading Japanese hospitality group, has made a strategic investment into Hong Kong based Conduit House Limited, a fully integrated asset manager and private equity investor focused on hospitality oriented real estate.

"Conduit House represents a unique platform for Mori Hospitality to extend its exposure to hospitality opportunities in Asia beyond Japan. Conduit House’s approach of adding value by repositioning, refurbishing and redeveloping underperforming assets with its fully integrated platform provides a compelling opportunity for us, an opportunity which complements our existing businesses. We believe that our investment in Conduit House will provide further depth, experience and pipeline to our organization as well as future partnership opportunities," said Hiroo Mori, President and CEO of Mori Hospitality Corporation.

As a wholly owned subsidiary of Mori Building Group, one of the most successful urban developers in Japan, Mori Hospitality Corporation is a full-service hospitality company with an industry leading hospitality portfolio. Over the past two decades, Mori Hospitality has established a stellar reputation with their iconic landmark developments in Tokyo, including Grand Hyatt Tokyo in Roppongi Hills, Andaz Tokyo in Taranomon Hills, and in Shanghai, Park Hyatt Shanghai located in the iconic Shanghai World Financial Center. The portfolio also includes the prestigious Roppongi Hills Club, a 3900 strong Member’s Club which occupies the entire 51st Floor of Roppongi Hills Mori Tower.

"We are thrilled to welcome Mori Hospitality as an investor and strategic partner, a participation which we believe significantly amplifies Conduit House’s growth opportunities," said Grant Healy, Managing Director of Conduit House. "Mori Hospitality aligns with our goals and focus of providing a partnership approach to hospitality-oriented real estate private equity. We will be looking at a number of compelling opportunities including asset turnaround and repositioning, redevelopments, asset management and distressed situations across South-East Asia, Australia, China and Japan in gateway cities".

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Conduit House sponsors London’s Architectural Association (AA) – “The Bangkok Visiting School”

December 10, 2018, Bangkok – Real estate private equity firm Conduit House is the major sponsor for this years London’s Architectural Association – “The Bangkok Visiting School” which is to be held in Bangkok from December 10 to December 21, 2018. The visiting school focus this year is on “Trees in Bangkok’.

“The Bangkok Visiting School will continue its investigation of everyday life in Bangkok”, said Grant Healy, Managing Director of Conduit House. “This year there is more than 50 students, many from London’s Architectural Association attending under the direction of Mark Cousins, Director, AA History & Theory Studies.”

The program aim is to develop artistic and architectural ways of enabling students to work upon a particular issue which arises for them out of their exploration of Bangkok. This in turn is based on the trips and the visits which the school will have organised. Last year, the students showed increasing confidence and the result was a month-long exhibition in Bangkok. This year the school is focusing on the role of trees in the city. We find that trees are everywhere in cities but curiously they attract little scholarly architectural or artistic attention.

The first part of the course will consist in visits to wooded areas in Bangkok, trees in public spaces and also to single trees. The school will be asking questions at different scales: what is the role of trees in Bangkok in general? How do the inhabitants of Bangkok react to particular trees? How do trees affect different types of space? What is the relationship of trees to roads? How do parks and other public spaces treat their trees? How do the seasons of the tree affect the appearance of the city? What is the role of trees in private gardens? Is there a characteristic view of wood in Bangkok? What about dead trees and fake trees?

There are other more indirect relations. What do the trees do to the light in Bangkok? How do the trees differ at different phases of day and night? We are also concerned with how the city manages, conserves and secures the future of the trees in Bangkok. We are interested in how the management of trees involves minor and major tree surgery. In many cities, the practice of pollarding has a dramatic effect on the tree and on its appearance. We will be able to document this and to produce a critique of its uncontrolled use. What is an intelligent way to look after urban trees. Beyond this, we are interested in the relations of citizens to trees on the individual or group bases. What uses are the trees put to in Bangkok in anything from children’s games to the provision of shade. What would happen if the use of tree was intensified and reproduced an urban forest?

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Conduit House to jointly develop real estate in Port Dickson, Malaysia

October 31, 2018, Hong Kong – Hospitality real estate private equity firm Conduit House announced that together with Dasar Prisma Sdn Bhd will develop a hotel and branded residences in the beach and holiday destination of Port Dickson, Malaysia. The 250,000 square meter site, fronting the Strait of Malacca and offering breathtaking views, offers a rich variety of bird life and fauna. The site is within an hour ́s drive from Kuala Lumpur via Lebuhraya Utara-Selatan/E2, a 90 minute drive to Malacca via via Lebuhraya Utara-Selatan/AH2/E2 and a 4 hour drive from Singapore via AH2.

Upmarket branded residences in Malaysia have become an important component of the property market. Branded residences provide a point of differentiation and a basis for price premiums – managed by branded hotel operators with attractive full-furnished designs and high-quality services including a rental agreement option to assist owners with the rental of their residence.

Conduit House is currently working with JLL Property Services (Malaysia) Sdn Bhd on an in-depth market study and feasibility on the project. The development plan would offer buyers a 15 years Leaseback Program with the initial three years providing a guaranteed market competitive return with 10 nights free stay per annum for 15 years.

Over the coming months, the venture will be looking to appoint an internationally recognized architect and an interior design firm to lead the development of the proposed 120 hotel rooms and 120 branded residences. The project is targeted to be launched to market by mid-2021.

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Conduit House to jointly develop real estate in Bangkok, Thailand

September 15, 2018, Bangkok – Hospitality real estate private equity firm Conduit House announced it has entered into a memorandum of agreement with a privately held family group to develop a select service hotel in Bang Kapi, Bangkok, Thailand.

Bang Kapi is an up and coming mid-town district that currently has limited supply of mid to high- end real estate developments. The area, highly populated with a significant Chinese community influence, is conveniently located with easy access to the expressway (15 minutes to Suvarnabhumi International Airport), 15 minutes to Don Mueang Airport and 15 minutes to Bangkok CBD). The subject site is well located close to The Mall, Tesco, Makro and Tawanna Square.

“We are excited to be involved with the project,” says Grant Healy, Managing Director of Conduit House. ̈From a location perspective, the area is in need of accommodation, particularly with the Yellow Train elevated mass rapid transit line currently being built, which will have a station within 500 meters of the hotel.”

The planned hotel will offer 220 guestrooms and seven studio suites. Each guestroom will feature a Cozy Corner sectional sofa-sleeper and separate workspace. Construction of the development would start in the first half of 2020 with the hotel scheduled to open in early 2022.

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