Associate, Asset Management & Underwriting

About the role

The primary focus of the Asset Management & Underwriting position is to support Hilco Global Real Estate Capital ("HREC"), a division of ORIX USA's Commercial Real Estate platform, in the ongoing management of opportunistic real estate credit investments, as well as underwriting and execution, across the US and Canada. The position provides exposure to the full investment lifecycle, including due diligence, underwriting, transaction execution, portfolio management, borrower interaction, asset surveillance, and special situations.

Responsibilities

• Monitor portfolio performance through regular reviews of borrower reporting, operating performance, leasing activity, construction progress, and business plan execution.
• Review borrower financial statements, rent rolls, operating reports, construction draws, and compliance submissions.
• Track loan covenants, reporting requirements, reserve balances, and key performance milestones.
• Prepare periodic portfolio reviews, risk rating analyses, and asset update reports for senior management and investment committees.
• Participate in property inspections and borrower meetings to evaluate collateral condition and project progress.
• Identify emerging risks, performance issues, covenant breaches, or business plan deviations and recommend appropriate courses of action.
• Aid in loan modifications, extensions, consents, assumptions, collateral releases, and other portfolio management activities.
• Support workout and special servicing situations, including restructuring analyses, recovery assessments, and enforcement strategy evaluations when necessary.
• Coordinate with legal counsel, consultants, and third-party professionals regarding asset-level issues and resolutions.
• Maintain portfolio monitoring systems, investment databases, and reporting tools.
• Assist in developing underwriting templates, portfolio reporting frameworks, and investment analytics.
• Contribute to market research initiatives and sector-level investment themes.
• Support portfolio-level risk management and performance tracking across the platform.
• Analyze and underwrite real estate debt and structured finance opportunities, including bridge loans, senior stretch loans, mezzanine debt, note acquisitions, DIP loans, and select equity investments.
• Evaluate collateral value, cash flow, sponsor strength, repayment scenarios, and downside risk.
• Evaluate sponsor experience, financial capacity, business plans, and track records.
• Prepare transaction screening materials, investment memoranda, credit approval packages, and presentations for internal investment committees.
• Negotiate loan structures, business terms, reserves, covenants, guaranties, and other credit protections.
• Coordinate third-party due diligence providers, legal counsel, borrowers, and internal stakeholders throughout the closing process.

Qualifications

• 2-4 years of experience in commercial real estate lending, underwriting, credit analysis, principal investing, structured finance, or asset management.
• Bachelor's degree in Finance, Real Estate, Accounting, Economics, or a related field.
• Strong financial modeling, valuation, and analytical capabilities.
• Understanding of commercial real estate fundamentals across multiple asset classes, including multifamily, industrial, office, retail, hospitality, land, and specialty property types.
• Experience reviewing financial statements, rent rolls, operating budgets, and third-party due diligence reports.
• Excellent written and verbal communication skills, including experience preparing investment memoranda and presenting analyses to senior professionals.
• Highly proficient in Microsoft Excel, Word, and PowerPoint.
• Strong organizational skills with the ability to manage multiple assignments and deadlines simultaneously.
• Self-starter with a strong work ethic, intellectual curiosity, and attention to detail.
• Entrepreneurial mindset and desire to work in a dynamic, high-volume investment environment.