What are the responsibilities and job description for the Sr CRE Asset Manager position at The Horizon Group?
Senior Asset Manager
The Horizon Group is searching for a Senior Asset Manager to join our client's asset management team. The candidate will assist the team in monitoring and asset managing commercial real estate (“CRE”) loans. Our client is a New York City based multi-strategy CRE investment platform that originates and securitizes senior mortgages, invests in subordinate debt including mezzanine loans, B-Notes and preferred equity, and opportunistically buys CMBS tranches including B-pieces & performing & distressed whole loans.
Responsibilities:
- Work directly with Head of Asset Management to manage rapidly growing portfolio of real estate debt and equity assets (fixed rate loans, bridge loans, mezzanine loans, preferred equity and b-piece investments). Assets are secured by all property types (including multi-family, office, retail, industrial, manufactured housing, hotel, self-storage, independent living facilities and land) with loan sizes ranging from $2.5 million to over $100 million. This position entails active asset management, surveillance and risk monitoring of portfolio holdings including:
- Monitor investment performance and risk assessment
- Collection and review of borrower provided reporting packages
- Conducting financial analysis of the properties securing the investments, evaluating cash flow, occupancy rates, and market trends to ensure the investment remain profitable and performing
- Compilation and analysis of financial, market and real estate information
- Managing the servicing of loans and investments, which includes collecting payments, processing payoffs, handling loan modifications and ensuring compliance with loan agreements.
- Regular interaction and communication with borrowers, servicers, and partners
- Preparation of quarterly and annual investor reports
- Auditing and review of new loans
- Collection and distribution of monthly loan payments
- Measure and monitor loan and investment performance
- Quarterly valuation of investment portfolio and underlying real estate properties
- Assist in all aspects of the commercial mortgage securitization and b piece acquisition process, involving exposure to hundreds of commercial real estate financings secured by all property types in diverse U.S. markets. Synthesis of large amounts of information and direct participation in the sale of CRE loan portfolios. Specific responsibilities include:
- Preparation of asset summary reports and large loan summaries
- Preparation of various spreadsheets used to aggregate loan and property level data
- Interaction with buy-side investors, loan sellers, and rating agencies
- Database oversight
- Interface and work with Agency team
Qualifications:
- Minimum of 4-year college degree in related field
- 5-7 years of experience in the commercial real estate industry, preferably with a focus on asset management and monitoring of commercial real estate loans
- Ability to be proactive, anticipate demands and accomplish tasks with minimal direction and oversight, often under pressure to meet demanding deadlines.
- Well-developed analytical skills, along with strong written and oral communication capabilities
- Advanced proficiency in Microsoft Excel, Word, and Outlook
- Working knowledge of real estate valuation and financial modeling
- Knowledge of distressed assets, workouts and REO properties
- Excellent attention to detail
- Strong time management and organization skills with a respect for deadlines
- Highly motivated, self-starter who can work well both individually and as a part of a team