Analyst/Associate - Hanover Street Asset Management
We are driven to deliver seamless and highly integrated solutions to our clients whether they are selling or managing a portfolio of commercial real estate assets. Through innovation, collaboration and our entrepreneurial spirit Hanover Street is uniquely positioned to apply its expertise and flexibility of resources to help our clients solve any problem, make informed decisions and to maximize the value of their assets.
About the role:
The role will initially support the Asset Management team in managing, monitoring and reporting on the performance of the Client’s portfolios of commercial real estate loans. This will involve working closely with the Client, Portfolio Management and Servicing teams to deliver accurate, timely and consistently high quality services.
This position is for an Analyst who will work as part of the Asset Management team and then once trained may transition to working in the CRE Credit Team, reviewing and supporting lending decisions. This position is available immediately and not suitable for current students graduating in the summer.
Responsibilities occasionally may require an adjusted work schedule, working more than a traditional 8-hour day, and working evening/weekend hours in order to meet deadlines.
• Model new assets in loan performance models that report historical and projected cash and P&L. This may involve making customizations of template based on negotiated loan terms, and coordination with underwriters, Servicing and Portfolio Management.
• Review and summarize deliverables and milestones provided under loan documents and enter those requirements in an Asset Management-focused Access database
• LTV, DY and DSCR analyses
• Gather market data in terms of rent, occupancy, absorption, sales trends, etc.
• Spread financial statements, maintain rent rolls, create rollover reports and monitor co-tenancy issues
• Prepare monthly asset-level reports in Excel
To be successful you will need:
• Experience with real estate finance and performance metrics
• Strong analytical and computer skills with a thorough knowledge of Excel including the ability to perform cash flow analyses. Must be able to work efficiently with large datasets to process and present results as requested
• Ability to work in a team environment, yet, to think independently and generate quality work product with little supervision
• Ability to manage multiple priorities and meet multiple deadlines
• Must adhere to processes and procedures but suggest and implement improvements if deficiencies found
• Attention to detail is a must
• Strong reading comprehension
• Strong business writing and presentation skills
Required Work Experience & Education:
· At least 1 year, ideally 2-3 years experience of Commercial Real Estate debt or Credit experience.
· A bachelor’s degree in Economics, Finance, Accounting or Commercial Real Estate
· Within Excel candidates should be able to map data, summarize data and construct a weighted average.
· Candidates should be able to able to determine the NPV of cash flows, determine the IRR of an investment and generate a simple maturity and balance schedule.
About Hanover Street Capital:
Hanover Street Capital, a wholly owned subsidiary of Situs, is a unique end-to-end commercial real estate financial services platform that provides a comprehensive suite of world class real estate finance advisory, asset management and servicing solutions across debt and equity real estate transactions.
Hanover Street offers a broad range of capabilities across all commercial property and credit types, with customized product-integrated solutions throughout the life-cycle of a real estate transaction. With practice teams dedicated to commercial real estate Acquisitions and Advisory services, Asset and Portfolio Management, Loan Servicing and Administration, and Loan Sourcing and Transaction Management we offer our clients innovative business solutions that support their strategic objectives and operational requirements.
We are an equal opportunity employer (m/f/d/v).
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