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Associate Director / Director – Single Tenant NNN Acquisitions

Salary
Competitive
Employment
Full Time
Work Place
Office
Real Estate Field
Location
New York
 NY
Postal Code
10154
Country
United States

This job is no longer active.

Description


Ladder Capital Finance (“Ladder”) is a Real Estate Investment Trust that is a leader in commercial real estate finance.  Investment activities include direct origination of commercial real estate first mortgage and mezzanine loans, investments in securities secured by first mortgage loans, and equity investments in net leased and other commercial real estate. Ladder invests in a diverse portfolio of commercial real estate and real estate-related assets that include office, retail, industrial, multifamily, hospitality, condominium, single tenant NNN leased properties, and development properties.

Founded in 2008, Ladder is run by a highly experienced management team with extensive expertise in all aspects of the commercial real estate industry, including origination, credit, underwriting, structuring, capital markets, and asset management.  Ladder is headquartered in New York City with a regional presence in California and Florida. As of June 30, 2021, Ladder owned over 5.3 million square feet of net lease assets valued at over $640 million.

Ladder is seeking an Associate Director / Director (or alternate level commensurate with experience) to lead its single tenant NNN investment strategy. This position will be located in Ladder’s NYC headquarters.

 

Responsibilities will include:

  • Lead all aspects of the single tenant NNN acquisition process, including preparing and interpreting financial models and equity waterfalls, analyzing risk-adjusted returns, compiling market research, analyzing tenant credit profiles, reading and interpreting leases, negotiating leases, LOIs and PSAs, leading the due diligence process, and closing investments.
  • Lead outreach efforts to develop and maintain relationships with existing and new brokers, developers, owners, and other sources of investment opportunities.
  • Assist in the due diligence process, including tracking and reviewing due diligence items and third party reports, drafting investment memorandums, and presenting investment opportunities to Ladder’s investment committee for approval.
  • Assist with the financing and sale of NNN assets, including analyzing hold/refinance/sell decisions on existing portfolio.
  • Monitor the ongoing performance of individual NNN assets, including via monthly servicer and performance reports, confirming receipt and accuracy of rental payments, updating the underwriting model as applicable, determining the effect of severe weather and other outside events on the properties, and the maintenance of a lease rent schedule detailing the rental income and rent escalations to be received over the lease term.
  • Monitor the ongoing performance and risk of the NNN portfolio as a whole, including, but not limited to, borrower, geographic and other concentration risk and average remaining lease term.
  • Monitor ongoing tenant corporate performance, including corporate credit ratings, stock and bond performance, analyst and rating agency coverage and earnings.
  • Maintain regular contact with the tenants and their corporate offices to ensure lease obligations and post-closing obligations are met.
  • Work closely with legal counsel and internal legal to negotiate LOIs, PSAs, leases, term sheets, loan agreements, inter-creditor agreements and related legal documentation.
  • Participate in monthly meetings with senior management regarding the NNN portfolio.
  • Lead, train, and develop junior team members.
  • Maintain collateral files for Ladder’s lenders, investors, rating agencies, and internal asset management and trading departments.
  • Perform property tours of prospective investments and at least annually for active investments, and new business travel as required.
  • Coordination and verification of tenant tax payments and processing of tenant maintenance requests by coordinating with tenant site manager and local vendor.

Candidate Requirements:

  • BA/BS degree in finance, economics, real estate, or related discipline preferred.
  • 5-7 years of experience (flexible based on experience level) in the real estate finance industry (single tenant NNN lease sourcing and acquisitions experience preferred).
  • Strong Microsoft Office skills, with a focus on Excel, knowledge of Argus Software a plus.
  • Exceptional organizational skills and ability to multi-task.
  • Strong analytical and problem solving skills.
  • Candidate will have a significant desire to learn and grow within the real estate finance industry.
  • Exposure to legal documentation and due diligence in a transactional environment a plus.
  • Ability to work on multiple transactions at a time in a fast paced, deadline-driven and entrepreneurial work environment.
  • Exceptional interpersonal skills.
  • Self-motivated worker with the ability and flexibility to work in a dynamic, team setting as well as independently.

Job Function


Not specified

 

Job Sector


Not specified

 

Experience


7+ to 10 years


This job is no longer active.

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