REAL ESTATE CREDIT OVERVIEW

KKR Real Estate Credit was formed in January 2015 to invest in real estate credit products and complement KKR Real Estate’s private equity platforms. Within KKR Real Estate Credit, we seek opportunities where we have a sourcing, underwriting or execution advantage by leveraging KKR’s brand, industry knowledge and relationships. KKR Real Estate Credit currently invests through nine separately capitalized vehicles across our Direct Lending and Securitized Asset portfolios and consists of 50+ dedicated professionals based in New York, San Francisco, Houston and Dallas.

KKR has developed a dedicated services platform, K-Star Asset Management LLC (“K-Star”), to support asset management, loan origination, securities investing, risk management and client experience activities for its commercial real estate credit franchise as it continues to scale. The K-Star team includes industry specialists who oversee special servicing, portfolio analytics, underwriting, stabilized loan asset management, transitional loan asset management, and investment oversight across KKR’s real estate credit portfolio.

POSITION OVERVIEW

K-Star is seeking an enthusiastic, intelligent, and diligent analyst to play a key role in building the Asset Management team to manage a growing portfolio of commercial and multi-family properties (“Properties”) on which control or title acquisition of the property via foreclosure, deed-in-lieu, or receivership is imminent or has occurred. The Properties may be included in the direct lending portfolio or in the securitized asset portfolio, which consist of all commercial property types located throughout the United States and will involve varying operating strategies and business plans. The qualified candidate will be expected to assist with pre-acquisition due diligence, vendor engagement and oversight, property management and leasing analysis, and exit strategy recommendations and execution, all in accordance with K-Star policies and practices and in compliance with governing servicing agreements and the Servicing Standard, as applicable. They will also be expected to participate in special assignments related to the growth of the K-Star platform that may lead to leadership opportunities. With a goal of process development and completion, this candidate must be an exceptional communicator and must have the ability to build strong partnerships across the various KKR businesses, including the Firm’s real estate credit and equity, securities investment, legal, finance, and asset management teams.

ROLES AND RESPONSIBILITIES

• Pre-foreclosure or Receivership
  • Work with Asset Manager on the recommendation for foreclosure, deed-in-lieu or receivership appointment
  • Complete requisite due diligence associated with the recommended action, e.g., securing the necessary third-party reports, entity formation, documentation, agreements, accounts, etc.
• Active Receivership or REO
  • Review periodic reporting to ensure the Properties are being properly managed and marketed and that any issues are addressed in a timely fashion
  • Analyze potential leases and present recommendations for approval
  • Assist with review and recommendation of operating budgets and prepare funding requests for Properties that are experiencing operating shortfalls
  • Conduct market research to assist with the preparation of Hold/Sell analyses for presentation to the approval parties
  • Communicate with servicing parties and trustees on servicing, asset management and resolution matters to ensure the appropriate actions are taken on behalf of the Owner
  • Work with brokers, property managers, construction consultants and other third-party consultants on leasing matters, capital budgets and development plans, as applicable
• Disposition
  • Assist in making the recommendation for disposition of the Property, whether via receiver sale, traditional marketing, auction, etc.
  • Work with selected broker on marketing efforts and buyer selection
• Other
  • Participate in special projects as needed to implement and optimize new technologies to support the K-Star platform

QUALIFICATIONS

• Bachelor’s degree or equivalent experience preferably in a related course of study
• Two or more years of related work experience in commercial real estate asset management preferred
• Fundamental knowledge of commercial real estate, fixed income, and general financial concepts
• Superior analytical and financial modeling skills
• Excellent organizational, verbal, and communication skills
• Exceptional attention to detail and thoroughness is required to ensure accuracy in all data and work product
• High proficiency with Microsoft Excel, Word, PowerPoint and Outlook; Argus a plus
• Team Player with collaborative and strong relationship building skills with the ability to work independently in a way that reflects the company’s culture and core values
• Skilled at developing and maintaining personal, social and business relationships representing KKR in a professional manner
• Willingness to travel as needed

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