SitusAMC AVP / VP - Commercial Real Estate CMBS Underwriting in New York, New York
AVP / VP - Commercial Real Estate CMBS Underwriting
Our client is the Commercial Real Estate Finance group within the investment bank of a premier European-based global financial services institution. Their real estate group is consistently ranked among the top-10 global and US CMBS bookrunners, and they consistently look to grow their platform and expand into new products, including a budding balance sheet lending program.
Our relationship with our client dates back to 2012 and we provide a dedicated, integrated, on-site team to underwrite their Commercial Real Estate loans. This role is to join our dedicated team sitting on-site, working seamlessly with our client.
We are looking for a Assistant Vice President (AVP)/ Vice President to support a leading originator and their team in screening, sizing, structuring, underwriting and documentation of potential CMBS Condiut CRE loan opportunities. In this role, you will be responsible for completing the full loan due diligence and assisting with the preparation of Asset Summary Reports required for securitization. Given our client's unique culture and structure, candidates will be exposed to the full-breadth of conduit loan originations, pricing, capital markets and other activities in commercial real estate lending and securitization.
Review Offering Memo prepared by brokers and/or Borrowers to gain an understanding of the real estate and the requested financing.
Evaluate and compile property level income statements, rent roll, reimbursements, occupancy statistics, sales and occupancy cost information, and other information into excel-based models.
Compile market research to determine and verify a project’s economics and assumptions in the model.Market research will include third party sources (such as Costar, Reis, Smith Travel Research and others) as well as public information available on the internet.
Review and evaluate third party-prepared reports including real estate appraisals, environmental reports, property condition reports, and zoning analyses.
Review tenant leases and related documentation and prepare an abstract of key terms.
Evaluate historical and projected capital expenditure budgets.
Collect and organize due diligence and credit files in an established documentation system.
Prepare a short memo summarizing key terms of the transaction, providing a short description of the property and its location, market, and tenancy.The memo will also include short descriptions of terms in the property and market characteristics and prepare short memo describing strengths and weaknesses of the transaction.
Based upon an iterative process with origination and underwriting teams, the analysis will be finalized and loan quote will be prepared resulting in a term sheet or application that will be send out to potential borrowers.
Desired Skills & Experience
At this time, Situs does not sponsor any new applicants for work authorization. You must be authorized to work in the United States for continuous employment without any Company sponsorship to be considered.
Minimum of a Bachelor’s degree with an emphasis in Real Estate, Economics, Accounting, or Finance and 4-5 years of direct real estate investment experience.MBA or MRED degree is ideal.
Candidates should be extremely proficient in Excel, with a focus on real estate related modeling and strong writing skills.
Experience performing reviews of underwriting models and analyses.
SitusAMC is the leading provider of consulting, outsourcing, talent and technology solutions, supporting institutional lenders and investors, across the life cycle of commercial and residential real estate debt and equity. The firm employs more than 3,300 employees with offices in 27 markets across the U.S., Europe and APAC.
SitusAMC brings together the industry’s top talent, unparalleled platform and innovative technologies to help clients optimize returns, identify risk, transform processes and infrastructure, and ultimately, realize opportunities in their businesses.
We are an equal opportunity employer (m/f/d/v).
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Job Location: New York, NY, United States