Hanover Street Capital - AVP/VP Asset Manager
Hanover Street Capital, LLC (AKA “Hanover Street”), a wholly-owned subsidiary of Situs Group, is a commercial real estate platform dedicated to support Deutsche Bank’s Commercial Real Estate Group. We provide a comprehensive suite of world class finance and investment solutions across primarily commercial real estate debt transactions.
We are currently seeking a Sr. Asset Manager, AVP or VP, to join the NY team. Position will include responsibilities related to managing a portfolio of loans secured by transitional real estate assets including real estate development. Candidate should possess strong analytical skills, including experience reviewing financial documents, loan documents and construction documents, as well as underwriting cashflows. The candidate should be well-versed in the construction lending process, and possess the ability to creatively resolve issues that arise in connection with the borrowers’ business plan(s). Workout experience is a plus.
- Be the asset management contact for investors, borrowers and staff
- Review financial statements, perform financial analysis, develop excel based models, and contribute to the development of optimal resolution strategies
- Review file documentation, completing file inventory, identifying file deficiencies and obtaining additional documentation where necessary
- Develop and present solutions addressing any performance issues and recommending course(s) of action to resolve the same
- Execute approved solutions
- Oversight and verification of construction draw process including, requisition review, anticipated cost report, budget tracking, use of contingency, lien waivers, disbursement tracking, as well as attend requisition meetings
- Monitor construction progress including, status of trades, schedule conformance, milestone targets, conduct periodic site visits
- Overseeing the collection and remittance of payments
- Overseeing the verification and payment of taxes and insurance
- Perform site visits
- Perform market research and property valuation as needed
- Monthly reporting of asset performance
- Working as an intermediary between borrowers and lenders to handle any special requests that the borrower or lender may have of each other
- Works independently on projects and also collaborates ‘face to face’ as a team player.
- Other duties as assigned.
- 5-7, or more, years of experience asset managing highly structured floating rate balance sheet loans, including construction loans or other high yielding commercial real estate debt transactions (e.g. mezzanine, preferred equity)
- Excellent reading and comprehension skills
- Ability to communicate effectively both written and verbal
- Analytical skills to understand complex commercial loan documents and borrower financial statements
- Strong organizational and time management skills
- Ability to work in fast-paced environment running multiple tasks under tight deadlines
- Ability to quickly come up to speed on Hanover Street’s business and culture
- Flexibility in working with team members to meet deadlines
- Required Education from an accredited Institution: Bachelor’s degree; MBA a plus. .
We are an equal opportunity employer (m/f/d/v).
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