Spring11 - Vice President, Asset Management (Client Facing)

JOB DESCRIPTION:
This role will be dedicated to the asset management team of a global investment bank overseeing a multi-billion dollar portfolio of transitional real estate loans.

We are currently seeking a senior associate to join our growing team to work on a diverse portfolio of transitional commercial loan assets, including ground-up construction, spanning various property types and regions. The senior associate will be tasked with providing asset management support and qualitative and quantitative loan surveillance and re-underwriting of existing loans for a growing portfolio of commercial real estate loans.
The role will support quarterly and annual loan reviews, including collateral valuation (DCF) as part of the annual review process.

LOCATION:

This position can be hybrid and will be based out of the firm’s Kansas City, Atlanta, or NYC office.

Responsibilities

• Provide commercial real estate analysis and debt underwriting across all markets and property types
• Monitor each position’s performance relative to underwriting, budget, and covenants within loan documents
• Coordination with and/or management of various third parties including servicers, borrowers, lenders, and construction consultants, amongst others
• Review and approve draw requests for renovation and ground-up construction projects of varying sizes and scopes ranging from single-use, secondary market transactions to high-profile, trophy projects in major metros
• Monitor performance of transitional/value-add operating properties including performing lease analysis, TI/LC and Renovation draw reviews, and loan covenant testing
• Complete quarterly asset updates for various assets
• Update and/or create credit committee presentation memos for loan modifications
• Work collaboratively to achieve department and firm objectives
• Contribute to the oversight and mentorship of junior staff members to support an expanding Asset Management platform

• Provide commercial real estate analysis and debt re-underwriting of existing loans across all markets and property types
• Monitor each position’s performance relative to underwriting, budget, and covenants within loan documents
• Coordination with and/or management of various third parties including servicers, borrowers, and lenders, amongst others
• Monitor performance of core, transitional/value-add operating properties including performing lease analysis, TI/LC and escrow disbursement draw reviews, reviewing collateral operating performance (leasing, market, rents, occupancies, concessions), and loan covenant testing (including DSCR and debt yield, as applicable)
• Complete quarterly asset updates for various assets and annual loan reviews

• Present quarterly/annual reviews and key conclusions to the fund’s Portfolio Manager and head of asset management  
• Occasionally update and/or create credit committee presentation memos for loan modifications
• Work collaboratively to achieve department and firm objectives

Qualifications

• Bachelor’s degree in real estate, Economics, Finance or other related field required
• 3-5 years of experience in commercial real estate is required, including direct experience with investment management, asset management, loan origination, real estate valuation/appraisal, and/or underwriting
• Must be proficient in Argus and Microsoft Excel.

• Excellent verbal and written communication skills
• Must possess the financial and quantitative acumen necessary to make well-reasoned, decisive recommendations, as applicable, to senior management, including experience with discounted cash flow (DCF) analysis and collateral valuation

SALARY:
$120,000-$170,000 annually
The expected base salary for this position ranges from $120,000-$170,000 annually. The actual base salary will be determined on an individualized basis taking into account a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to the base salary and a competitive benefits package, this position is eligible for additional types of compensation including discretionary bonuses and other short- and long-term incentives (e.g., deferred cash, equity, etc.).

WORKING CONDITIONS:
Normal working conditions with the absence of disagreeable elements.

NOTE:
The statements herein are intended to describe the general nature and level of work being performed by employees and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.

Newmark is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected Veteran Status, or any other characteristic protected by applicable federal, state, or local law.