AVP, Asset Management in US - NY - New York (JR01678)

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 warehouse loan and debt financings including construction/renovation loans and project financings on behalf of Deutsche Bank (DB). The Warehouse team manages the bank’s repurchase lending platform. Under the repurchase lending platform DB lends to some of the largest private equity, REITs and funds.

This position is New York City based and requires a minimum 3 days in person.

Essential Job Functions:

·         Be the asset management contact for client, borrowers and staff 

·         Review financial statements, perform financial analysis, develop excel based models, and contribute to the development of optimal resolution strategies

·         Review file documentation, completing file inventory, identifying file deficiencies and obtaining additional documentation where necessary

·         Develop and present solutions addressing any performance issues and recommending course(s) of action to resolve the same to various DB committees.

·         Execute approved solutions

·         Oversight and verification of construction draw process including, requisition review, anticipated cost report, budget tracking, use of contingency, lien waivers, disbursement tracking, as well as attend requisition meetings

·         Monitor construction progress including, status of trades, schedule conformance, milestone targets, conduct periodic site visits

·         Overseeing the collection and remittance of payments

·         Overseeing the verification and payment of taxes and insurance

·         Perform site visits

·         Perform market research and pro forma cash flow projections as needed

·         Monthly reporting of asset performance

·         Conduit quarterly reviews of all asset and present to credit officers in person our findings and recommendations 

·         Conduct in-depth annual reviews on each line (repurchase agreement borrowers) financials and risk profiles

·         Working as an intermediary between line borrowers and lenders to handle any special requests that the borrower or lender may have of each other • Works independently on projects and also collaborates ‘face to face’ as a team player

Required work experience & education:

•        A Bachelor’s degree in Economics, Finance, Accounting or Commercial Real Estate

•        5+ years of experience related to commercial real estate, including transitional loans and highly structured transactions. Experience with construction loans, distressed debt, REO's or work outs would be advantageous

•         Broad understanding of real estate finance, performance metrics and different loan structures

•         Strong analytical and computer skills with a thorough knowledge of Excel

•         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

•        Strong analytical skills, including experience reviewing financial documents, loan documents, as well as cashflow analysis

•        Possess the ability to creatively resolve issues that arise in connection with the borrowers’ business plan(s)

•        Strong reading and comprehension skills • Ability to communicate effectively both written and verbal

•        Analytical skills to understand complex commercial loan documents and borrower financial statements

•        Strong organizational and time management skills

•        Ability to work in fast-paced environment running multiple tasks under tight deadlines

•        Ability to quickly come up to speed on Hanover Street’s business and culture

•        Flexibility in working with team members to meet deadlines

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 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.

The annual full time base salary range for this role is

$125,000.00 - $135,000.00

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.

Pay Transparency Nondiscrimination Provision

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.

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