Associate, Debt Asset Management (Bridge Lending)

Responsibilities

• Aid in the ongoing monitoring of a portfolio of bridge loans and their respective underlying asset-level performance.
• Review draw requests, ensuring comprehensive support has been provided from the Servicer and Borrower.
• Compare current and trailing performance to prior period reporting and to underwriting; analyze and escalate negative trends and review source data for outliers.
• Ongoing engagement with servicer/asset manager to ensure a proactive view of loan performance, availability of relevant operating data, and identification of issues.
• Track all changes in business plans, progress of business plan execution, insurance losses, and delinquencies.
• Prepare securitization reporting, including compiling and analyzing quarterly business plan execution updates, loan performance, borrower financial condition, inspection results, and loan modifications.
• Collaborate with Berkshire credit managers to provide exposures for market, sponsor, product subtype, pending maturities.
• Assist credit managers with analysis of pending loan maturities and watchlist loans, providing sensitivities as needed to stress portfolio outcomes.
• Prepare watchlist summaries for submission to MF1 Leadership and Investment Committee.
• Negotiate loan modifications and extensions, providing sound evidence-based recommendations to senior management.
• Develop downside scenarios, including breakeven occupancy, break-even cap rate, potential refinancing shortfalls, and sponsor equity.
• Visit markets and inspect properties to validate business plan assumptions, monitor property operations, and identify opportunities and issues to improve operations.
• Stay abreast of relative market information for all markets related to the portfolio.
• Contribute to the preparation of watchlist summaries for submission to MF1 Leadership and Investment Committee.
• Assist in the negotiation of loan modifications and extensions, providing sound evidence-based recommendations to senior management.
• Develop downside scenarios, including breakeven occupancy, break-even cap rate, potential refinancing shortfalls, and sponsor equity.
• Visit markets and inspect properties to validate business plan assumptions, monitor property operations, and identify opportunities and issues to improve operations.
• Stay abreast of relative market information for all markets related to the portfolio.

Requirements

• 3+ years of successful experience in loan asset management of multifamily real estate.
• Underwriting of multifamily debt transactions preferred, a plus.
• Experience reviewing draw packages and loan advances, a plus.
• Experience in performing collateral site inspections, a plus.
• Demonstrate ability to identify problems early, escalate when required, and solve them effectively with minimal assistance.
• Develop and maintain effective internal and external relationships with a range of individuals including Clients, Third Party Servicers, Brokers, Appraisers, Portfolio Management, and Property Managers.
• Able to take direction from multiple sources while effectively managing multiple, changing priorities.
• Able to assess and quantify risk.
• Demonstrate ability to organize, prioritize, and manage multiple priorities, using critical thinking and problem-solving.
• Show a collaborative working style with inclusive work and thinking behaviors, commitment to excellence in teams and work product, with a strong work ethic.
• Display proficiency and willingness to adopt new systems and processes.
• Improve process efficiency and accuracy.
• Display emotional intelligence in high-pressure and sensitive situations.
• Have a heightened attention to detail and follow best-in-class processes.
• Represent the Berkshire employment brand well to candidates by seeking to understand the capabilities and insights of people with unique backgrounds, cultures, styles, and abilities.
• Maintain confidentiality of sensitive information and communications of information.
• Develop productive working relationships with all team members including internal clients and external third parties.
• Display high levels of ethics and integrity with a straightforward and honest approach.

Qualifications

• Bachelor's degree in a related field.
• MBA, related Master's degree, or CFA a plus.
• Formal Credit Training, a plus.
• Demonstrate advanced financial modeling and Excel skills.
• Prove proficiency in Microsoft Suite of Products (e.g., Word, Outlook, Excel, Teams, Power Point).

Benefits

Berkshire Residential offers an excellent benefits package, focusing on our employees' total health and wellness. We offer programs and incentives that promote physical, mental, financial, and behavioral wellbeing both within and beyond our workplace. Current anticipated annual base salary range: $115,000 - $135,000. Base salary within the range will be determined by various factors including but not limited to the individual's experience, skills and qualifications. Please visit our Careers page for full details – and to learn more about how we value our employees. We believe Berkshire Residential values diversity, equity, inclusion and belonging. Berkshire is committed to providing equal opportunity in all practices, including employees and applicants for employment. We ensure that decisions affecting employees are made without regard to their race, color, creed, national origin, age, disability, gender, gender identity, sexual orientation, or any other protected status.