Assistant Vice President, Asset Management
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Job ID
14077
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Job Category
Asset Management - Other
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Business Unit
Hanover Street Capital
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Job Location
US - NY - New York
SitusAMC is where the best and most passionate people come to transform our client’s businesses and their own careers. Whether you’re a real estate veteran, a passionate technologist, or looking to get your start, join us as we work together to realize opportunities for everyone, we proudly serve.
At SitusAMC, we are looking to match your unique experience with one of our amazing careers, so that we can help you realize your potential and career growth within the Real Estate Industry. If you are someone who can be yourself, advocate for others, stay nimble, dream big, own every outcome, and think global but act local – come join our team!
Hanover Street Capital, LLC (“Hanover Street”) operates as a fully dedicated platform assisting Deutsche Bank’s Commercial Real Estate Group with its $20+ bn loan portfolio. We provide a comprehensive suite of services across commercial real estate transactions and are uniquely positioned to apply our expertise and flexibility of resources to help our client solve any problem, make informed decisions, and maximize the value of their assets. With practice teams dedicated to commercial real estate loan originations, asset and portfolio management, loan servicing and administration, and transaction management, we offer a broad range of capabilities across all CRE property and credit types ranging from senior mortgages to subordinate debt. Established in 2012, Hanover Street is a wholly owned subsidiary of SitusAMC.
Position Overview:
This position will be responsible for the management of a diverse portfolio of loan and debt financings including construction/renovation loans, syndications, CMBS, secured and unsecured debt transactions, multi-currency and project financings on behalf of Deutsche Bank.
The role supports the Asset Management team in managing, monitoring and reporting on the performance of the Client’s portfolios of commercial real estate loans. This will involve working closely with the Client, Portfolio Management and Servicing teams to deliver accurate, timely and consistently high quality services.
Essential Job Functions:
- Responsible for managing, monitoring and reporting on originated or acquired real estate debt investments, including single assets and non-performing loan pools.
- Model new assets in loan performance models that report historical and projected cash and P&L. This may involve making customizations of templates based on negotiated loan terms, and coordination with underwriters, Servicing and Portfolio Management.
- Review and summarize deliverables and milestones provided under loan documents and enter those requirements in an Asset Management-focused Access database
- LTV, DY and DSCR analyses
- Gather market data in terms of rent, occupancy, absorption, sales trends, etc.
- Spread financial statements, maintain rent rolls, create rollover reports and monitor co-tenancy issues
- Prepare monthly asset-level reports in Excel
- Other activities as may be assigned by your manager
Qualifications/ Requirements:
- 5+ years of experience with a focus real estate finance, asset management or debt underwriting. Experience with distressed debt, REO's or work outs would be advantageous
- Bachelor’s Degree in a related field.
- Broad understanding of real estate finance, performance metrics and different loan structures
- Strong analytical and computer skills with a thorough knowledge of Excel including the ability to perform cash flow analyses. Must be able to work efficiently with large datasets to process and present results as requested
- Ability to work in a team environment, yet, to think independently and generate quality work product with little supervision
- Ability to manage multiple priorities and meet multiple deadlines
- Must adhere to processes and procedures but suggest and implement improvements if deficiencies found
- Attention to detail is a must
- Strong reading comprehension
- Experience/key skills needed for the role
Special Requirements:
- The employee may be required to report to a different local office as a normal, contemplated, and mandated incident of their employment
Working Conditions:
- Office environment with frequent computer, mouse, keyboard use
- Alternating between sitting or standing as needed
- Hearing, talking, reaching, grasping
Note: This job description is not intended to be all inclusive or exclusive. At any time, employees may perform other related duties as required to meet the ongoing needs of the organization and participate in additional trainings.
SitusAMC is an Equal Opportunity Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.
SitusAMC does not accept unsolicited resumes from staffing agencies, search firms or any third parties. Any unsolicited resume submitted to SitusAMC in any manner will be considered SitusAMC property, and SitusAMC will not pay a fee for any placement resulting from the receipt of an unsolicited resume.
New York, NY, USA
USA
The annual full time base salary range for this role is ($120,000 - $160,000). Specific compensation is determined through interviews and a review of relevant education, experience, training, skills, geographic location and alignment with market data. Additionally, certain positions may be eligible to receive a discretionary bonus as determined by bonus program guidelines, position eligibility and SitusAMC Senior Management approval. SitusAMC offers PTO and paid holidays, the terms of which are set forth in the program policies. All full time employees also are eligible to participate in various benefit plans, including medical, dental, vision, life, disability insurance and 401K; in each case in accordance with the terms of the applicable plans.
