Senior Asset Manager, VP or Director

Since 1985, Situs has been the premier, global provider of end-to-end commercial real estate and loan advisory services and integrated solutions, offering customized services to leading financial institutions, investors, owners, and developers. We offer a wide array of services, including enterprise and process improvement, capital markets and commercial real estate advisory, primary and special servicing, and creative staffing solutions.

We are currently seeking a Sr. Asset Manager, VP or Director, to join the TPG NY team. Position will include responsibilities related to managing a portfolio of loans secured by transitional real estate assets including real estate development. Candidate should possess strong analytical skills, including experience reviewing financial documents, loan documents and construction documents, as well as underwriting cashflows. Well versed in the construction lending process. Ability to creatively resolve issues that arise in connection with the borrowers business plan. Workout experience a plus.

Detail:

• Be the asset management contact for investors, borrowers and staff
• Review financial statements, perform financial analysis, develop excel based models, and contribute to the development of optimal resolution strategies
• Review file documentation, completing file inventory, identifying file deficiencies and obtaining additional documentation where necessary
• Develop and present solutions addressing any performance issues and recommending course(s) of action to resolve the same
• Execute approved solutions
• Oversight and verification of construction draw process including, requisition review, anticipated cost report, budget tracking, use of contingency, lien waivers, disbursement tracking, as well as attend requisition meetings
• Monitor construction progress including, status of trades, schedule conformance, milestone targets, conduct periodic site visits
• Overseeing the collection and remittance of payments
• Overseeing the verification and payment of taxes and insurance
• Perform site visits
• Perform market research and property valuation as needed
• Monthly reporting of asset performance
• Working as an intermediary between borrowers and lenders to handle any special requests that the borrower or lender may have of each other
• Works independently on projects and also collaborates ‘face to face’ as a team player.
• Other duties as assigned.

Experience Required:

• Minimum of 5-7, or more, years of experience related to commercial real estate, including construction

Skills and Education:

• Bachelor's degree, MBA a plus
• Excellent reading and comprehension skills
• Ability to communicate effectively both written and verbal
• Analytical skills to understand complex commercial loan documents and borrower financial statements
• Strong organizational and time management skills
• Ability to work in fast-paced environment running multiple tasks under tight deadlines
• Ability to quickly come up to speed on Hanover Street business and culture
• Flexibility in working with team members to meet deadlines