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SitusAMC · 2 hours ago

Associate, Commercial Real Estate Underwriting

New York, NY

Full-time

Onsite

Mid Level

$135K/yr - $175K/yr

4+ years exp

SitusAMC is where the best and most passionate people come to transform our client’s businesses and their own careers. In this role, you would support the origination, underwriting, closing and execution of commercial real estate loans for the Bank’s CMBS and balance sheet programs.

Financial ServicesOutsourcing

Responsibilities

Underwrite and close commercial real estate loans for multiple borrowers and different asset types

Participate in initial loan sizing, collaborating with origination and capital markets teams

Conduct financial analysis, including assessment of property and borrower financials, cash flows, and other key underwriting metrics

Conduct property level & market/submarket due diligence, with specific focus on market trends, comparable properties and leases, tenant quality, and local economic conditions as appropriate

Risk assessment & structuring – be able to identify potential risks, recommend mitigants, and structure loan terms accordingly to ensure compliance with credit guidelines and overall marketability of loans for securitization

Preparation of credit memos for both internal and external presentation, including deal strengths, cash flow analysis, risks and mitigants, borrower / sponsor review, and market & property level due diligence

Interface regularly with internal staff, clients, legal counsel, and other third-party providers to discuss specific projects

Complete site inspections and detailed market analysis, including broker interviews and discussions with property management

Ability to review third party reports (appraisal, engineering, environmental, etc.), and identify key issues that warrant further investigation and/or revision

Collaborate with appraisal review group to discuss specific appraisal methodology and ensure that the assumptions used in the appraisal are well-supported and are consistent with the actual terms at the Property and/or market

Assess borrower’s credit worthiness by reviewing financial statements, credit reports, and media searches

Ability to evaluate major/single tenant performance or financial condition

Actively participate and take the lead in discussions with syndication partners, investors, b-buyers and rating agencies regarding the merits of each transaction, and be able to address any concerns related to loan structure, sponsorship, legal, property, market, and underwriting

Qualification

Commercial real estate underwritingFinancial analysisRisk assessmentCredit memos preparationMarket analysisCMBS experienceMulti-taskingCollaborative colleagueWork ethicAttention to detailOrganizational skillsCommunication skillsInterpersonal skills

Required

Candidate is required to have a BA/BS, ideally in commercial real estate finance, finance or similar

At least 4+ years' experience underwriting commercial real estate loans at a bank, insurance company, debt fund, investment management company or similar; specific focus on CMBS a plus

Strong work ethic with a solutions-driven approach to working through issues or challenges

Ability to multi-task and manage multiple transactions simultaneously while still meeting tight deadlines in a fast-paced environment

Strong attention to detail, analytical and accuracy skills

Excellent organizational, communication, and interpersonal skills

Desire to work among a diverse team and be a supportive and collaborative colleague

Seeking professional growth and development opportunities on a strong platform in a dynamic industry