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The CMBS/CML team within Securitized Assets currently manages over $56bn in CMBS AUM and over $4bn in CML AUM and is seeking an individual at the Associate level with an expertise playing a key role in the acquisition and closing of commercial mortgage loans.
Job Responsibility:
Work with portfolio management (PM) team to assist in all stages of the investment process, including evaluating loan investment opportunities, underwriting, closing execution, and asset management
Assist the PM team in deal screening and preliminary underwriting / due diligence to identify, size and structure the most compelling loan investment opportunities
Effectively present detailed investment considerations, including key risks and mitigants to CML portfolio management, investment committees, investors, and various other stakeholders
Review and scrutinize key legal documents including term sheets, loan agreements, guaranty documents, co-lender / intercreditor agreements, servicing and potentially warehouse agreements
Work closely and maintain relationships with banks, debt funds, brokers and borrowers
Must be capable of understanding investment criteria and work on investment allocations across a diverse set of client capital
Play a key role in monitoring and surveilling portfolio loans
Remain informed of market conditions including leverage levels and pricing across competitive landscape and relative value to public securities and other fixed income assets
Build and enhance various models for underwriting, pricing and portfolio management
Provide periodic portfolio and investment updates and reporting to PM team, investment committee and investors
Requirements:
Minimum of 2-5+ years’ experience in structuring, syndicating, asset managing and/or originating commercial mortgage loans
Ability to evaluate credit on all major commercial real estate categories (residential, industrial, office, data centers, hospitality, retail, self-storage, etc.)
Knowledge of strengths and weaknesses of major CRE markets across the United States
Comfortable working in a highly collaborative team environment and ability to lead independently investment processes
Strong communication, interpersonal and time-management skills with an emphasis on being detail-oriented and responsive to market partners and cycles
Ability to successfully perform under pressure and meet deadlines in a fast-paced work environment while managing multiple projects independently and directing internal and external partners
Proficiency in Bloomberg, Argus, PowerPoint, Word and Excel
Flexibility to learn other programs including BlackRock’s Aladdin, CoStar, RealInsight, fixed income-specific tools, and technical ability to leverage AI tools
Nice to have:
Familiarity with array of sub-property types, including senior housing, student housing, medical office, malls, etc.
Familiarity with European markets
Experience overseeing and getting ahead of loan modifications (credit enhancing, repositioning for successful lease-up/payoff)