AVP, Senior Credit Manager

Our client is a real estate investment management company known for its vertically-integrated platform and experience in the multifamily sector. This platform is a people-focused investment management company with experience in U.S. residential real estate. With over 50 years of experience, they manage approximately $12 billion in real estate assets on behalf of their global institutional clients. They aspire to improve lives through expert capital stewardship and exceptional living experiences. Their reputation for innovation and prudence attracts residents in the U.S. and investors from across the nation and from around the globe.

The AVP, Senior Credit Manager will lead a team responsible for oversight, management and reporting of our client’s debt investments. They will be responsible for helping build the infrastructure for a fast-growing bridge debt asset management 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.

Essential Functions:

• Provide leadership to a team responsible for monitoring bridge loan asset level performance on an ongoing basis

• Be go-to for asset management issues from internal and external partner

• Review and approve bridge loan draw requests, project budget modifications and other asset level decisions requiring Servicer approval

• Responsible for quarterly reviews of loan performance, credit assessment, identification of watchlist loans

• Ongoing engagement with servicer/asset manager/closing teams to ensure smooth transition to asset management and proactive view of loan performance and identification of issues during term

• Track and report on changes in business plan, progression of business plan execution, insurance losses, and delinquencies

• Critical role with loan modifications if/as needed, providing suggestions and taking the Asset Management lead in loan restructuring to mitigate loan default risk

• Coordinate quarterly asset credit scoring and review outlines

• Maintain and monitor exposures for market, sponsor, product subtype, pending maturities

• Responsible for ensuring compliance with securitization reporting requirements

• Ongoing monthly and ad hoc notifications and certifications as well as quarterly business plan execution updates, loan performance, and loan modifications

• Attention to detail and coordination of internal and external stakeholders required

• Coordinate with Portfolio Managers to provide an overview of fund exposures

• Exposure by market, sponsor, property type and maturity year

• Perform exit analysis for bridge loans with 90 days to maturity to identify extension/refinance risk

• Provide sensitivities as needed to stress portfolio outcomes

• Lead team responsible for providing quarterly watchlist summaries

• Provide write ups summarizing submarket, asset, sponsor and financial metrics

• Review property level financial statements, borrower financial condition, and inspection results

• Provide down side scenarios to include breakeven occupancy, break even cap rate, potential refinance shortfalls, and sponsor equity

• A seasoned real estate professional with comprehensive knowledge of the residential sector. 10+ years of experience preferred.

• Savvy and experienced underwriting, structuring, monitoring, and/or asset management of multifamily debt and equity transactions, including transitional loans.

• Experience with transitional assets, construction draw reviews, and/or value add renovations preferred.

• Experience training and managing a team

• Experience with GSE multifamily lending programs preferred.

• Special Servicing, Loan Restructuring/Workout and Distressed Loan experience a plus

• Experience in both debt and equity transactions preferred

• Knowledge of full capital structures

• Demonstrated successful experience in structuring equity, mezzanine and preferred deals

• 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

Technical/Educational Requirements:

• 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

Physical Requirements: (amount of standing, walking, sitting, typing, lifting etc.)

• Stand and walk or sit alternatively depending on specific needs of the day

• Ability to lift at least 50lbs - Travel luggage

Vision Requirements: (visual needs for the position – color, small details, inspections etc.)

• Required to view computer screen, complete forms, read and review reports, and a wide variety of correspondence, including small details

Hearing Requirements: (hearing needs for the position –telephone, meetings, etc.)

• Required to communicate over telephone and in person with various people and levels of management

Speaking Requirements: (clarity, customer interaction, presentations, etc.)

• Required to communicate over telephone and in person

• Must be comfortable speaking in front of small, medium and large groups

• Must be comfortable speaking to senior management

Driving Requirements: (driving needs for the position – from property to property, travel, etc.)

• Must have valid driver's license and automobile insurance

Reasoning Development: (Low, Medium or High – for ability to apply logical thinking to defined problem solving)

• HIGH

• Must be able to apply principles of logical thinking to define problems, collect pertinent data, establish facts, draw valid conclusions, and initiate appropriate course of action

• Must effectively convey ideas, images and goals to a diverse group of personalities

Working Environment: (Indoors, Outdoors, special things to know about job)

• Office - Indoors mostly

• Travel – About, 25-35% travel required potentially including international