What are the responsibilities and job description for the Commercial Real Estate Credit - Originator position at Prospect Capital?
The Firm
Founded in 1988, Prospect Capital is an alternative asset management firm with $11.9B of assets under management, including permanent capital. Prospect has a long-term, value-oriented approach that employs fundamental bottoms-up research to identify investments that offer attractive risk and reward. Prospect pursues multiple strategies in the US, including direct lending, private equity, real estate private equity, and structured credit.
Prospect's real estate private equity business is housed within National Property REIT Corp. ("NPRC"), a private, wholly-owned REIT that has invested over $3.5 billion in multifamily, student housing, and self-storage properties.
With offices in New York City, Connecticut, and Florida, the firm is comprised of 140 experienced professionals who value entrepreneurship, intellectual rigor, hard work, and continuous improvement.
The Position
- Modeling, underwriting, diligencing, and closing real estate credit investments (senior, mezzanine and preferred equity), with an emphasis on multifamily, student housing, industrial and self-storage asset classes;
- Creating and presenting detailed memos to the Investment Committee for deal approval;
- Identifying, negotiating, and maintaining potential senior/junior lender relationships;
- Asset management responsibilities, including tasks related to re-financings, dispositions, and oversight of joint venture partners;
- Other ad hoc assignments, including capital raising and research assignments.
Desired Skills and Experience
- 5 years of experience focused on credit investments in the US commercial real estate market
- Strong analytical experience in underwriting commercial real estate credit investments; conducting due diligence and negotiating loan documents;
- Knowledgeable about market trends across US real estate asset classes, especially multifamily real estate and GSE financing programs relating thereto;
- Strong verbal and written skills; Proactive team player with excellent multitasking skills and a positive attitude.
- Demonstrated track record of excellence in academic, professional, and personal endeavors.
The anticipated annual base salary range for this position is $100,000 - $200,000 plus annual discretionary performance-based bonus. Actual pay may be adjusted based on experience and performance.
In addition to the base salary, the hired professional is eligible for comprehensive benefits, including 100% employer-paid premiums for medical, dental, vision insurance, life insurance, and AD&D. You'll also have access to pretax benefit accounts, including FSA, HSA, and Commuter accounts. Our perks go beyond the basics with a mentorship program, daily in-office paid breakfast and lunch, company-sponsored ski and sailing trips, and regular happy hours. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.
Salary : $100,000 - $200,000
