Our client is a New York based industry leader in commercial real estate debt investments; since inception in 2018 they have originated over $20B across various products including senior bridge, stretched seniors, mezzanine debt, and preferred equity. Additionally, they have successfully financed debt positions through various structures including repurchase facilities and securitizations (CLO & CMBS). Their seasoned team has successfully scaled similar debt platforms through various market cycles. Our Client’s two core strategies focus on originating multifamily bridge loans and investing in high yield bonds secured by multifamily mortgages. Their MF1 strategy is a mortgage REIT solely focused on providing capital to the multifamily sector, including bridge loans, preferred equity, and special situations on multifamily properties. MF1 is led by several seasoned debt and multifamily professionals between our client and their partner, Berkshire Residential Investments. The principals of MF1 worked together at Deutsche Bank for several years after DB bought a leading Fannie/Freddie multifamily origination platform from Berkshire Residential Investments. The firm will also execute opportunistically on select commercial real estate special situations.
The Vice President of Underwriting will support a team responsible for evaluation, oversight, and reporting of our client’s debt investments. They will be responsible for helping build the infrastructure for a fast-growing bridge debt platform. They will serve as a player/coach based upon workload and prioritization of deliverables. They will be responsible for managing relationships with key stakeholders including loan servicers and joint venture partners.
- Conduct market research, leverage internal databases and external connections to assess key statistics for new and existing markets within a designated region and/or nationally.
- Responsible for deal underwriting, benchmarking and overall pipeline/portfolio analytics.
- Research and support development of strategic partnerships.
- Collaborate with leadership and associate underwriters to facilitate market analytics, demographic studies, new market selection, and reporting.
- Assist with creative partnership structures for expanding the partnership portfolio.
- Conduct face-to-face meetings and calls with external commercial real estate partners in conjunction with business development.
- Assist with the asset management of the loan portfolio.
- Move towards building a new book of business with the ability to source new originations opportunities.
- Communicate with investors during and after loan closings, including completion of written loan closing summaries and documentation of investor co-investments.
- Coordinate the creation of the preliminary and final underwriting in addition to key market assumptions for deals.
- Underwrite and oversee underwriting/sizing of domestic real estate for senior and mezzanine debt.
- Ability to prepare cash flow models as a backstop if junior resources are unavailable.
- Prepare investment committee reports.
- Serve as a key interface in the transition process ensuring the final underwriting and Investment Committee Reports are completed.
- Cover direct owner/operator accounts and maintain a strong network of real estate services firms, personnel and contacts to utilize as needed.
- Seeking candidates with 7-12 years of experience in Commercial Real Estate, Management Consulting, Investment Banking, or Real Estate Finance.
- Bachelor’s Degree required, MBA or Master’s preferred.
- Experience underwriting various property types including industrial, retail, self-storage, medical office and senior living with an emphasis on multifamily or agency underwriting.
- Exposure to mezzanine and high-yield lending.
- Advanced financial modeling skills with experience modeling CRE assets and capital structures.
- Strong understanding of the commercial real estate industry.
- Exceptional analytical and quantitative problem-solving skills.
- Teamwork, cooperation, ability to take direction and develop others.
- Self-starter with an entrepreneurial personality, as well as the motivation and capacity to deal with challenges and opportunities of a growing business.
- Desire and ability to work in an entrepreneurial role outside of the office, as well as the initiative and resourcefulness to manage people and projects independently.
- Ability to prioritize and handle multiple deals concurrently.
- Outstanding writing skills including the ability to communicate articulately and concisely.
- Reliable, focused, with demonstrated ability to consistently meet goals and deadlines.
- Excels under pressure; ability to work both independently and cooperatively in a fast-paced environment.