Builder Finance Vice President

Annaly Careers•New York, NY

6d•Hybrid

About The Position

Annaly is seeking a Vice President to underwrite, execute, finance, and surveille investments in the builder finance/residential construction lending market. The role will provide direct exposure to institutional real estate investing, structured finance, and capital markets activities supporting the horizontal and vertical construction across both homebuilders and developers. The Builder Finance Vice President will evaluate, recommend and monitor residential development and construction financing opportunities including land banking, structured lot options, acquisition and development (A&D) loans, vertical construction loans, preferred/mezz lending and joint ventures with homebuilders and land developers. The candidate will support underwriting, financial modeling, market research, due diligence, transaction execution, financing strategies, and ongoing portfolio surveillance for builder finance investments. The candidate should have the necessary skills or attributes to work in a dynamic, fast-paced group. The candidate will evaluate new investment opportunities, maintain and enhance development finance models, prepare investment memoranda and approval materials, and monitor market developments, builder activity, housing supply and demand trends, construction costs, entitlement timelines, and project-level performance.

Requirements

Bachelor’s Degree and strong analytical and modeling skills required
8+ years of experience in a fast-paced capital markets-focused organization or homebuilder
Real estate finance, land banking, residential land acquisition and development, homebuilding, or relevant investment banking experience preferred
Advanced Excel financial modeling skills required, including discounted cash flow analysis, sensitivity analysis, debt structuring, and project-level development modeling
Ability to effectively communicate, both written and verbally, with Senior Management regarding the progress and results of projects and initiatives
Ability to work effectively under time constraints
Must be willing to work in New York, NY onsite 4 days per week
Must be willing to submit to a background investigation
Must have unrestricted work authorization to work in the United States
Must be willing to work additional hours as needed to complete deadline driven projects

Nice To Haves

Familiarity with development pro formas, land development budgets, construction schedules, entitlement processes, and residential housing market analysis a plus
Experience using Zonda, John Burns Research & Consulting or similar market intelligence platforms is a plus

Responsibilities

Assist in the analysis of builder finance opportunities including land banking/structured lot options, acquisition and development (A&D) financing, vertical construction and joint ventures across both equity and debt
Build, maintain, and refine project-level financial models incorporating development timelines, lot takedown schedules, debt service, return waterfalls and related scenario analysis
Analyze and report on housing market fundamentals including supply-demand dynamics, absorption rates, construction costs, lot inventory levels, demographic trends, and home price trends in relevant housing submarkets
Coordinate due diligence, market research, entitlement review, budget analysis, and transaction materials for potential and existing builder finance investments
Collaborate with legal counsel, third-party consultants, developers, homebuilders, lenders, and capital partners during transaction execution.
Produce detailed portfolio surveillance and reporting on project performance, collateral values, construction/development progress, and investment returns.
Prepare investment committee memoranda, approval packages, portfolio reporting, budget variance analyses, and management presentations
Support special projects and strategic initiatives requested by senior management.