Our client is a real estate investment management company known for its vertically integrated platform and expertise in the multifamily sector. This organization is a people-focused investment manager with over 50 years of experience in U.S. residential real estate. The firm manages approximately $20 billion in real estate assets on behalf of their global institutional clients and has grown at a ~30% CAGR over the past five years. Our client aspires to improve lives through expert capital stewardship and exceptional living experiences across the residential investment sector. Their reputation for innovation and prudence attracts both residents in the U.S. along with investors from around the globe.
Under the general direction of the Vice President, Head of Debt Asset Management, the Assistant Vice President, Credit Manager will assist with oversight of our client’s current bridge loan portfolio with some exposure to CME.
• Provide leadership to a team responsible for monitoring bridge loan asset level performance on an ongoing basis
• Compare current and trailing performance to prior period reporting and to underwriting
• Analyze negative trends
• Review source data for outliers
• Monitor and flag all changes in business plan, progression of business plan execution, insurance losses, and delinquencies
• With senior leadership, help coordinate monthly asset credit scoring and review outliers
• Work with credit managers to provide exposures for market, sponsor, product subtype, pending maturities
• Review and recommend bridge loan draw requests, ensuring comprehensive detail and data has been provided from Servicer and Borrower
• Ongoing engagement with servicer/asset manager to ensure proactive view of loan performance and identification of issues
• Review all annual asset inspection reports for trends
• Complete securitization reporting, including compiling and analyzing quarterly business plan execution updates, loan performance, and loan modifications
• Assist with loan modifications if/as needed, to mitigate loan default risk
• Perform exit analysis for bridge loans with 90 days to maturity to identify extension/refinance risk
• Provide sensitivities as needed to stress loan and portfolio outcomes
• Under direction of the VP, Head of Debt Asset Management, provide watchlist summaries to supplement servicer reporting
• Provide write ups summarizing submarket, asset, sponsor and financial metrics
• Review property level financial statements, borrower financial condition, and inspection results
• Provide downside scenarios to include breakeven occupancy, breakeven cap rate, potential refinance shortfalls, and sponsor equity
• Bachelor’s Degree in a related field; MBA or related master’s degree a plus
• Excellent computer skills; proficiency with Microsoft suite of products, Yardi (helpful)
• Investment analytical skills and advanced Excel modeling capabilities
• A seasoned real estate professional with comprehensive knowledge of the residential sector. 7+ years of experience preferred.
• Savvy and experienced underwriting and structuring of multifamily debt and equity transactions, including in the distressed arena.
• Experience with GSE multifamily lending programs preferred.
• Special Servicing, Loan Restructuring/Workout and Distressed Loan experience preferred
• Experience in both debt and equity transactions preferred
• Knowledge of full capital structures
• Demonstrated successful experience in people management and leadership
• Excellent verbal and written communications skills
• Ability to work independently, with limited support to deliver results
• Ability to influence and persuade, using a variety of approaches appropriate for the situation and party being influenced
• Excellent relationship building skills in working with property management, internal and external partners and sellers
• Ability to travel for site inspections