SitusAMC Analyst Underwriter – Commercial Real Estate, Hanover Street Capital in New York, New York
Analyst Underwriter – Commercial Real Estate, Hanover Street Capital
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We are driven to deliver seamless and highly integrated solutions to our clients whether they are selling or managing a portfolio of commercial real estate assets. Through innovation, collaboration and our entrepreneurial spirit Hanover Street is uniquely positioned to apply its expertise and flexibility of resources to help our clients solve any problem, make informed decisions and to maximize the value of their assets.
About the Role:
We are looking for an Analyst Underwriter to join our Credit Analytics team in New York. In this role, you will support the operations of our client, a premier global investment bank with a $20+bn U.S. loan portfolio. You will be responsible for providing detailed credit, asset and loan level surveillance and re-underwriting of select assets from our client's balance sheet loan portfolio. You will be working with Asset Managers, Credit Risk Management and Originations teams to monitor asset performance and provide detailed analyses to senior managers of the client.
Underwriting will be of similar form to loan origination; however, responsibilities will surround reforecasting of seasoned and underperforming portfolio exposures. The majority of the loans will be large, complex bridge loans on transitional assets with a typical deal size ranging from $50 - $300 million for non-syndicated loans as well as participations in significantly larger institutional transactions.
Prepare presentation decks and in-depth credit memoranda detailing re-underwriting and related due diligence
Prepare and update cash flow projection models, as well as perform shorter form LTV, DY, and DSCR analyses
Gather market data in terms of rent, occupancy, absorption, sales trends, etc.
Spread and analyze detailed property financial information and review third-party reports, loan documents, and borrower business plans/budgets
Assist in presenting findings to Global Head of Asset Management, Senior Credit team and other senior members of the Asset Management and Originations teams
Required Education & Work Experience:
Bachelor’s degree from an accredited institution, preferably with a concentration in Economics, Finance, Accounting or Commercial Real Estate
1+ years’ experience with Commercial Real Estate debt or credit analysis
Some experience across all or most traditional asset types, including office, hospitality, retail, multifamily, industrial, and mixed-use properties preferred
Financial modeling skills with experience modeling CRE assets and capital structures
Experience with Argus preferred, but not required
Excellent oral and written skills
Ability to manage multiple priorities and meet multiple deadlines
Balanced viewpoint and determination to assess asset/loan performance
About Hanover Street Capital:
Hanover Street Capital, a wholly owned subsidiary of SitusAMC, is a unique end-to-end commercial real estate financial services platform that provides a comprehensive suite of world class real estate finance advisory, asset management and servicing solutions across debt and equity real estate transactions.
Hanover Street offers a broad range of capabilities across all commercial property and credit types, with customized product-integrated solutions throughout the life cycle of a real estate transaction. With practice teams dedicated to commercial real estate Acquisitions and Advisory services, Asset and Portfolio Management, Loan Servicing and Administration, and Loan Sourcing and Transaction Management we offer our clients innovative business solutions that support their strategic objectives and operational requirements. We are an equal opportunity employer (m/f/d/v).
Note: This job description is not intended to be all inclusive or exclusive. At any time, employee may perform other related duties as required to meet the ongoing needs of the organization and participate in additional trainings.
Qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
New York, NY, USA
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