Associate – CRE Underwriting

Salary Range: 120000 to 130000 (Currency: USD) (Pay period: per-year-salary)

Key Responsibilities

• Conduct due diligence on prospective investment opportunities across the capital stack including Senior Mortgages, Mezzanine Loans, B-Notes, Preferred Equity, JV Equity and NPLs;
• Perform property-level diligence and complete underwriting templates for CMBS and other CRE financing opportunities involving multifamily, industrial, hospitality, retail and office properties;
• Formulate underwriting assumptions and prepare financial models analyzing prospective transactions for a variety of property types and capital stack positions;
• Draft credit memorandums detailing key investment terms and objectives, risks/mitigants, underwriting assumptions, cash flow projections, sponsor review and market analysis;
• Assist in the preparation, review and analysis of legal documents and structuring of complex financial transactions in conjunction with senior investment team members and legal counsel;
• Provide support in the formulation of strategies for existing and new positions, which may require a dialogue with market participants, generating borrower/asset/market-level analyses, and financial modeling of various scenarios; and
• Support ad hoc initiatives in support of the investment team’s research-driven approach.

Professional Experience

• A minimum of 5 years of experience in commercial real estate, with a focus on at least one of the following areas: loan origination, underwriting, commercial real estate loan workouts, debt and/or equity asset management.

Education/Certification

• Undergraduate degree in economics, finance, real estate, or related degree is preferred.

Essential Skills & Competencies

• Bellwether seeks to hire entrepreneurial individuals who are highly motivated, mature and intelligent, with demonstrated excellence in prior endeavors. The successful candidate should have:
• Job Knowledge & Technical Ability: Familiarity with, and ability to interpret and understand, complex debt structures and cash flow waterfalls. Must have a team-oriented attitude with a genuine interest in commercial real estate. Must be able to work efficiently with minimum supervision, meet deadlines and handle competing priorities. Strong quantitative background; effective organizational, interpersonal, and communication skills. Technologically savvy; fluency in Excel and Argus is required.
• Initiative & Dependability: Ability to perform responsibilities independently and proactively, solve problems, and improve processes and/or services. Self-directed, takes initiative and responsibility, ensures completion of tasks.
• Communication: Excellent verbal and written communication skills; strong listening and interpersonal skills. Highly effective at preparing and presenting information both internally and externally to clients.
• Professionalism & Teamwork: Acts with honesty and integrity and maintains confidentiality, adheres to company policies. Promotes a collaborative and productive work environment. Demonstrates team building, support and respect.  

Travel Requirements

• Travel is not anticipated but may be needed from time to time.

Position Details

• Classification:  Exempt
• Position Status:  Regular / Full Time
• Reports To:  Managing Director, Underwriting
• Direct Reports:  No

Physical and Mental Demands

• While performing the duties of this job, the employee is regularly required to stand, sit, and walk. Must be able to sit at an office workstation for an extended period of time. May need to reach, stoop, or kneel to access items.
• Must be able to talk, hear and use wrists, hands and/or fingers frequently and repetitively to operate a computer, telephone and other office productivity machinery.
• Must frequently prepare or inspect documents, and convey details or important instructions or ideas accurately, loudly, or quickly.
• Ability to work independently, and prioritize duties to ensure timely completion. The ability to collaborate is also imperative.
• Requires active listening, critical thinking, making decisions, time management, as well as administration skills.
• Ability to interact in a courteous professional manner at all times.
• Regular, predictable attendance is required.
• The physical and mental demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the functions.

Work Environment

• No hazardous or significantly unpleasant conditions (such as in a typical office).
• Moderate noise (i.e., business office with computers, phones, printers and light traffic)
• Indoor business office environment with windows; light foot traffic within work areas
• The work environment characteristics described here are representative of those a teammate encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Benefits

• We offer a comprehensive benefits package that includes:
• Employer-paid Medical, Dental & Vision, with buy-up options available
• Flexible Spending Account, Health Savings Account
• Carrot Fertility Benefit - $10,000 lifetime benefit
• 401k company match 4%, immediately vested
• Generous PTO, 11 Paid Company Holidays & Paid Holiday Office Closure
• 14 weeks Maternity Leave & 12 weeks Parental Leave
• Wellbeing program offerings
• Cell phone reimbursement
• Engaging team events & holiday parties