Associate - CMBS Deal Manager and Underwriter
Our client is the Investment Banking subsidiary of one of the largest European financial services groups. Based on a diversified banking model, the Group combines financial solidity with a strategy of sustainable growth, and focuses strongly on relationship banking, being recognized in its markets, and close to clients. The Investment Bank is a diversified and leading player with nearly 10 500 professionals present in more than 31 countries across Europe, the Americas and Asia-Pacific.
The U.S. Commercial Mortgage Backed Securities business is led and staffed with a team of seasoned professionals with experience in all aspects of CMBS. The team engages in the full range of CMBS activities from origination to distribution.
Situs has enjoyed supporting this CMBS team through their growth and has established a dedicated team of individuals who assist with a range of deal-related activities on an off-site basis. In this position, you will be a Situs employee fully dedicated to supporting the Investment Bank's CMBS team on-site, and be a key link between the Bank's activities and the Situs team.
The position must be able to handle CRE finance transactions within multiple property sectors including office, retail, industrial, hotel, & multifamily. This position involves client contact and requirement to deliver high quality work. Responsibilities may require an adjusted work schedule, working beyond an 8 hour day, and possible evening/weekend hours in order to meet deadlines.
The applicant must:
- Have an advanced working knowledge of underwriting and valuation models, real estate finance and debt structures, commercial tenant leases, zoning and insurance review processes
- Thorough understanding of financial property documents such as closing statements, calculation of escrows, tax returns, real estate portfolio schedules, personal financial statements, and credit reports for companies
- Have advanced ability to understand and analyze property level financial information including: correlating, auditing and testing of rent rolls, leases, estoppels, historical financial statements, expense recovery calculations, tenant sales and occupancy cost calculations and tax return analysis
- Be able to research & analyze market and submarket data including inventory, absorption, rent and vacancy trends, and industry ratios and thresholds. Must be able to create and analyze rent rolls
- Have additional understanding of client’s scope of work and third party reports as they pertain to appraisal, engineering, environmental, and seismic reports
- Must be able to recognize and manage clients’ expectations, work independently on projects and collaborate as a team player
- Willing and able to direct junior level staff in meeting project deadlines
- Be comfortable undertaking any role necessary to get a project to finish line, as various duties will be assigned. This position will require interaction with clients, servicers, and third party providers throughout due diligence process
Work experience requirements:
- 4+ years of CRE or comparable industry experience, including recent CMBS transaction experience
- Advanced business writing skills
- Excellent analytical and problem solving skills
- Excellent Excel and cash flow modeling skills
- Strong mentoring and training skills
- Ability to work independently as well as collaborate as a team player
- Professional verbal and communication skills to interact with clients and related parties via telephone or in person
Computer Skill Requirements:
- Strong working knowledge of MS Outlook, Excel, Word and PowerPoint
- Advanced Proficiency of Argus
- Understanding of data tapes and cash flow modeling programs (Closer, Backshop, etc.)
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