Associate, Commercial Real Estate Underwriting

About the role

SitusAMC is looking for an Associate to support the origination, underwriting, closing and execution of commercial real estate loans for the Bank’s CMBS and balance sheet programs.

Responsibilities

• Underwrite and close commercial real estate loans for multiple borrowers and different asset types
• Participate in initial loan sizing, collaborating with origination and capital markets teams
• Conduct financial analysis, including assessment of property and borrower financials, cash flows, and other key underwriting metrics
• Conduct property level & market/submarket due diligence, with specific focus on market trends, comparable properties and leases, tenant quality, and local economic conditions as appropriate
• Risk assessment & structuring – be able to identify potential risks, recommend mitigants, and structure loan terms accordingly to ensure compliance with credit guidelines and overall marketability of loans for securitization
• Prepare credit memos for both internal and external presentation, including deal strengths, cash flow analysis, risks and mitigants, borrower / sponsor review, and market & property level due diligence
• Interface regularly with internal staff, clients, legal counsel, and other third-party providers to discuss specific projects
• Complete site inspections and detailed market analysis, including broker interviews and discussions with property management
• Able to review third party reports (appraisal, engineering, environmental, etc.), and identify key issues that warrant further investigation and/or revision
• Collaborate with appraisal review group to discuss specific appraisal methodology and ensure that the assumptions used in the appraisal are well-supported and are consistent with the actual terms at the Property and/or market
• Assess borrower’s credit worthiness by reviewing financial statements, credit reports, and media searches
• Ability to evaluate major/single tenant performance or financial condition
• Actively participate and take the lead in discussions with syndication partners, investors, b-buyers and rating agencies regarding the merits of each transaction, and be able to address any concerns related to loan structure, sponsorship, legal, property, market, and underwriting

Qualifications/Requirements

• Candidate is required to have a BA/BS, ideally in commercial real estate finance, finance or similar
• At least 4+ years’ experience underwriting commercial real estate loans at a bank, insurance company, debt fund, investment management company or similar; specific focus on CMBS a plus
• Strong work ethic with a solutions-driven approach to working through issues or challenges
• Ability to multi-task and manage multiple transactions simultaneously while still meeting tight deadlines in a fast-paced environment
• Strong attention to detail, analytical and accuracy skills
• Excellent organizational, communication, and interpersonal skills
• Desire to work among a diverse team and be a supportive and collaborative colleague
• Seeking professional growth and development opportunities on a strong platform in a dynamic industry

Pay, Benefits & Schedule

The annual full time base salary range for this role is $135,000.00 - $160,000.00 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.