Senior Associate, CPACE Credit and Transaction Management

Bayview Asset Management•New York, NY

24d•$120,000 - $150,000•Hybrid

About The Position

Bayview Asset Management is an investment management firm with ~$33.9 billion in AUM. Bayview’s investment strategy focuses on credit investments, including whole loans, asset-backed securities, mortgage servicing rights, and other mortgage and consumer-related assets. Among Bayview’s newest initiatives is the launch of a Commercial Property Assessed Capital Expenditures (“CPACE”) loan origination platform (“BPACE”). BPACE is on a mission to scale innovative, cost-effective financing solutions for commercial building owners’ energy efficiency and renewable energy goals. The BPACE team is comprised of collaborative, solutions-oriented industry leaders who are looking for a creative individual to help grow the division from end to end. The CPACE Underwriter role will be highly dynamic. Primary responsibility will include screening, sizing, underwriting, and transaction managing CPACE financing requests, working in parallel with originators and other members of Bayview PACE’s (BPACE) underwriting team. The Senior Associate will also work cross-functionally with various teams, including but not limited to capital markets, portfolio management, and servicing, in managing work product needed by BPACE, which may include such things as financial modeling, asset management tasks, investor reporting tasks, and more.

Requirements

Bachelor’s degree required
5+ years of experience in commercial real estate, preferably CPACE
High energy, drive, and strong work ethic
Collaborative “can do” mindset
Strong attention to detail, specifically in a CRE financing capacity
Ability to self-manage & prioritize a significant volume of tasks, both small & large
Demonstrated project management skills in team settings
Proficiency in Excel, with ability to build from scratch property-level cashflow and other types of Excel models
Ability to think strategically and creatively in a continuous learning environment
Ability to engage positively with both internal and external stakeholders
Excellent interpersonal skills

Responsibilities

Lead transaction management and underwriting processes for projects under term sheet, working in conjunction with BPACE’s VP of Underwriting
Support all needs of the senior CPACE team
Guide analysts in the initial evaluation of lending opportunities with your assigned originator(s), conducting upfront underwriting and due diligence, and creating and presenting summary credit memoranda
Review quote sheets, term sheets, and amortization models
Gather due diligence from borrowers and other third-parties, necessary to close the financing
Underwrite projects in accordance with BPACE’s underwriting guidelines; prepare investment committee memorandum and other deliverables in preparation for final investment committee approvals
Work with Bayview’s capital markets & portfolio management teams on financial modeling exercises for CPACE assets across BPACE’s platform
Work with Bayview’s servicing and asset management teams to onboard loans for asset management post-closing
Assist with duties involving rating agencies, investors, or lenders, such as preparing data tapes, presentations, or financial models
Go above and beyond to ensure a positive experience, creatively solve problems, and enthusiastically support BPACE’s efforts and initiatives
Other duties as assigned