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:
We are looking for an Associate or Vice President Underwriter to join our Credit Analytics team in New York. In this role, you will support the operations of our client, a premier global investment bank with a $20+bn U.S. loan portfolio. You will be responsible for providing detailed credit, asset and loan level surveillance and re-underwriting of select assets from our client's balance sheet loan portfolio. You will be working with Asset Managers, Credit Risk Management and Originations teams to monitor asset performance and provide detailed analyses to senior managers of the client.
Underwriting will be of similar form to loan origination; however, responsibilities will surround reforecasting of seasoned and underperforming portfolio exposures. The majority of the loans will be large, complex bridge loans on transitional assets with a typical deal size ranging from $50 - $300 million for non-syndicated loans as well as participations in significantly larger institutional transactions.
- Prepare and update Argus and Excel based cash flow projection models; developing, reviewing, and substantiating assumptions based on market data collections and financial review information
- Analyze and review detailed property financial information, third party reports, loan documents, and borrower business plans/budgets
- Analyze various projections and strategize on proactive loss mitigation strategies
- Prepare in-depth credit memoranda detailing re-underwriting and related due diligence, as well as performing shorter form re-underwriting analyses
- Present findings to Global Head of Asset Management, Senior Credit team and other senior members of the Asset Management and Originations teams
Required Education & Work Experience:
- Bachelor's degree from an accredited institution, preferably with a concentration in Economics, Finance, Accounting or Commercial Real Estate
- 5-8 years of directly relevant work experience, preferably at a top-tier investment bank, private-equity firm, or advisory firm
- Experience across all traditional asset types, including office, hospitality, retail, multifamily, industrial, and mixed-use properties
- Financial modeling skills with expertise modeling CRE assets and capital structures
- Advanced experience with Argus preferred
- Proficiency with PowerPoint
- Excellent oral and written skills; ability to present clearly to senior management
- Balanced viewpoint and determination to assess asset/loan performance
About Hanover Street Capital:
Hanover Street Capital, a wholly owned subsidiary of SitusAMC, 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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Note: This job description is not intended to be all inclusive or exclusive. At any time, employee may perform other related duties as required to meet the ongoing needs of the organization and participate in additional trainings.
Qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
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5+ to 7 years
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