Temporary Underwriter - CMBS / Balance Sheet Lending
Our client is the Commercial Real Estate Finance group within a leading European-owned investment bank. They harness expertise in debt financing and arranging corporate and specialized finance transactions embracing comprehensive origination, arranging, and structuring and placement capabilities. They have built up top-tier market insight underpinned by more than 20 years’ experience in Western Europe and over 10 years’ in the US.
Our client is widely recognized as a major industry player thanks to their comprehensive array of financing services involving the entire spectrum of asset types. Within Real Estate, they provide clients with a wide array of funding tools such as CMBS, bridge loans and B-notes.
Due to continued growth in the US, they have partnered Situs to provide a dedicated team providing origination, underwriting and asset management support across the full range of their real estate products.
This temporary position will be based on-site with our client in midtown, New York City and be part of our dedicated platform of commercial real estate finance transaction support professionals. You work integrated and among our client’s real estate finance team and assist their Senior Banker and team with managing the transaction process, including due diligence, underwriting, and credit approval of CMBS and balance sheet loans. You will manage third-party transaction consultants, work with our client’s internal credit group in their review of file, and assist capital markets with investor review and distribution via securitization or syndication.
Responsibilities include, but are not limited to:
- Manage loan underwriting assignments for multiple borrowers and different asset types
- Prepare final underwriting and credit approval memoranda and present loans for internal credit approval process
- Perform all aspects of the due diligence and underwriting for loans including analyzing property level data and guarantor financial statements, and reviewing and approving appraisals, property condition assessments and environmental reports
- Manage all aspects of the structuring, legal documentation and closing of approved loans with clients, co-lenders (for a combination of syndicated loans and loans with subordinate debt), the internal deal team and outside legal counsel
- Interface with credit rating agencies and institutional investor groups
- Manage junior Underwriters in the due diligence and closing process
- Writing Asset Summary Reports and support the securitization and syndication process
- Complete site inspections and detailed market analysis, including broker interviews and discussions with property management
Desired Skills & Experiences:
- Minimum of 3 years of CMBS or similar commercial real estate underwriting experience
- Ability to manage multiple priorities and meet multiple deadlines
- Excellent analytical and problem solving skills
- Excellent Excel and cash flow modeling skills
- Excellent business writing skills
- Proficient using Argus, Excel, Word and PowerPoint