Associate, Underwriting

Bellwether • El Segundo, CA

72d • $115,000 - $125,000

About The Position

The Associate, Underwriting (Torchlight) role will manage a variety of real estate debt and equity products. The role will support the Torchlight Underwriting team, which is responsible for underwriting and completing due diligence on complex commercial real estate transactions, providing credit opinions on commercial mortgage-backed securities (CMBS) transactions, and assisting the Acquisitions team on structuring new opportunities. This role will also support the Torchlight Asset Management team, which is responsible for overseeing the private real estate debt and equity investments in Torchlight’s fund businesses, which include assets throughout the U.S. in office, retail, multifamily, hospitality, and industrial asset classes. The Associate, Underwriting (Torchlight) will be tasked with providing quantitative and qualitative underwriting support through assignments related to various debt and equity investments.

Requirements

• A minimum of 5 years of experience in commercial real estate, with a focus on at least one of the following areas: loan origination, underwriting, commercial real estate loan workouts, debt and/or equity asset management.
• Undergraduate degree in economics, finance, real estate, or related degree is preferred.

Responsibilities

• Conduct due diligence on prospective investment opportunities across the capital stack including Senior Mortgages, Mezzanine Loans, B-Notes, Preferred Equity, JV Equity and NPLs.
• Perform property-level diligence and complete underwriting templates for CMBS and other CRE financing opportunities involving multifamily, industrial, hospitality, retail and office properties.
• Formulate underwriting assumptions and prepare financial models analyzing prospective transactions for a variety of property types and capital stack positions.
• Draft credit memorandums detailing key investment terms and objectives, risks/mitigants, underwriting assumptions, cash flow projections, sponsor review and market analysis.
• Assist in the preparation, review and analysis of legal documents and structuring of complex financial transactions in conjunction with senior investment team members and legal counsel.
• Provide support in the formulation of strategies for existing and new positions, which may require a dialogue with market participants, generating borrower/asset/market-level analyses, and financial modeling of various scenarios.
• Support ad hoc initiatives in support of the investment team’s research-driven approach.

Benefits

• Employer-paid Medical, Dental & Vision, with buy-up options available
• Flexible Spending Account, Health Savings Account
• Carrot Fertility Benefit - $10,000 lifetime benefit
• 401k company match 4%, immediately vested
• Generous PTO, 11 Paid Company Holidays & Paid Holiday Office Closure
• 14 weeks Maternity Leave & 12 weeks Parental Leave
• Wellbeing program offerings
• Cell phone reimbursement
• Engaging team events & holiday parties

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Bachelor's degree