Director, Asset Management

Brio Real Estate, a Blackstone Portfolio Company•Atlanta, GA

About The Position

Brio Real Estate is a Blackstone Real Estate portfolio company focused on real estate credit. Brio supports Blackstone’s Real Estate Debt Strategies (“BREDS”) investments across the globe. The company provides support across key functions, including corporate, transaction, and management services. The critical infrastructure and capabilities Brio provides for BREDS allows for effective support in the management of its global portfolio. Today, BREDS has more than $76 billion of investor capital across high yield / opportunistic real estate credit funds, a publicly traded Mortgage REIT, and liquid securities strategies. BREDS is part of Blackstone Real Estate, the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector. Brio Real Estate is a Blackstone Real Estate portfolio company focused on real estate credit. Brio supports Blackstone’s Real Estate Debt Strategies (“BREDS”) investments across the globe. The company provides support across key functions, including corporate, transaction, and management services. The critical infrastructure and capabilities Brio provides for BREDS allows for effective support in the management of its global portfolio. Today, BREDS has more than $76 billion of investor capital across high yield / opportunistic real estate credit funds, a publicly traded Mortgage REIT, and liquid securities strategies. BREDS is part of Blackstone Real Estate, the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector. Position Overview: The Director, Asset Management will oversee a diversified portfolio of intricate debt investments, secured by various types of commercial real estate. This encompasses a broad range of projects from significant ground-up constructions, renovations, to capital improvements and leasing endeavors. The assets under management will include a mix of transitional or value-added properties across major U.S. markets. These properties span across different sectors such as office spaces, retail outlets, industrial sites, multifamily units, condominiums, student housing, and hospitality venues.

Requirements

Bachelor's degree in finance, accounting, real estate, or a related discipline required.
5+ years of experience in debt asset management or loan servicing is mandatory.
Must have proficiency in Microsoft Excel, Word, and Outlook.
Demonstrated understanding of complex commercial real estate structured-finance transactions is essential.
Knowledge of commercial real estate transactions, industry terminology, and capital markets is required.
Exceptional communication abilities, including the capacity to articulate complex ideas clearly in both writing and speech.
Skilled in interpreting intricate credit and legal documentation.
Strong analytical capabilities and mathematical proficiency are crucial.
The candidate should possess the ability to manage multiple tasks simultaneously and adhere to deadlines.
Team-oriented, ready to collaborate and contribute to collective goals.
Ability to travel 10-15%.

Nice To Haves

Advanced proficiency in Excel, including ability to build complex Excel worksheets preferred.

Responsibilities

Interpret complex loan agreements to accurately apply loan terms in asset management activities.
Work closely with various internal teams to streamline asset servicing and ensure precise and prompt reporting.
Oversee the draw process, ensuring all pre-funding conditions are met in line with credit agreements for construction, leasing, and capital expenditures.
Facilitate the funding process in collaboration with lenders, their syndicates, co-lenders, and note-on-note financiers.
Analyze lease proposals, drafting recommendation memos for clients.
Engage with external consultants, including legal advisors, title agents, brokers, leasing/sales agents, and construction experts.
Employ a range of software and applications to manage and monitor data related to properties, borrowers, and asset performance.
Organize and assess monthly financial statements from borrowers, along with other required reports.
Manage the collection and evaluation of annual operating and capital budgets.
Assess the ongoing performance of operating properties by reviewing rent rolls, operating statements, and collection reports.
Evaluate proposed cash management distributions to ensure accurate application according to cash flow waterfalls.
Conduct regular covenant compliance checks as per loan documentation (e.g., Debt-Yield, Loan-to-Value, Debt Service Coverage Ratio).
Generate and maintain monthly asset reports and quarterly reporting packages that include analysis of investment performance.
Coordinate with the tax and insurance teams to oversee insurance coverage, tax payments, and escrow requirements.
Approve annual operating and capital budgets as well as proposed tenant leases.
Mentor financial analysts, fostering their professional development and enhancing their skills.