AVP - CMBS and Warehouse Commercial Mortgage 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.
Our relationship with our client dates back to 2012 and we provide a dedicated, integrated, on-site team within all facets of their group. This role is to join our dedicated team sitting on-site, working seamlessly with our client.
We are looking for an Associate/AVP to join their Conduit and Warehouse Underwriting Team, primarily focusing on underwriting commercial mortgage loans for their warehouse platform which is comprised of a multi $billion portfolio for private and public REITs, private equity and commercial real estate finance companies. This role is being structured initially as a consulting role with the potential that it may turn into a longer term opportunity.
In this role, you will be working directly with premier institutional clients and partnering with them on the financing of a wide array of commercial real estate transactions. You will be responsible for underwriting loans alongside clients and completing Asset Summary Reports. Given our client's unique culture and structure, candidates will be exposed to the full-breadth of commercial real estate finance activities and have the opportunity to also work on conduit loan originations and other tasks as needed.
- Partner with public and private REITs, private equity firms and commercial real estate finance companies in the acquisition, refinancing and renovation of commercial real estate across all asset types.
- Review client due diligence packages (including client investment memos, third-party reports, market information, sponsor financials, etc)
- Construct Asset Summary Reports (ASRs) and cash flow models.
- Assist in managing securitization transactions such as CLOs for our clients
- Perform asset & portfolio management of $billion+ warehouse loan portfolio (majority are floating rate bridge loans); duties include, asset underwriting, monitoring covenant compliance, and performing quarterly/annual reviews
- Manage client relationships; duties include, review and analysis of clients annual and quarterly financial statements (annual reports, 10-Ks, 10-Qs, etc) to assess the financial strength and position of the client
- Credit analysis and investigation of existing and new prospective real estate clients and counterparties
- Prepare credit approval memos for new credit facilities, extension/modification of existing facilities and underwriting of commercial real estate assets
- Assist with CMBS conduit underwriting as needed
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.
- Bachelors degree from an accredited institution
- 2-5 years’ experience in underwriting or asset managing commercial mortgage loans, CMBS/CLO, or similar.
- Excellent communication skills, willingness to work as part of a larger team
- Strong financial modelling / excel skills
Since 1985, Situs has been the premier, global provider of end-to-end commercial real estate and loan advisory services and integrated solutions, offering customized services to leading financial institutions, investors, owners, and developers. We offer a wide array of services, including enterprise and process improvement, capital markets and commercial real estate advisory, primary and special servicing, and creative staffing solutions.
We are an equal opportunity employer (m/f/d/v).
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