VP, Asset Management (Alternatives)

Harbor Group Management•New York, NY

3d•Onsite

About The Position

The Vice President, Asset Management is part of Harbor Group’s Asset Management group, which manages all the company’s direct equity, preferred equity, and debt portfolio investments. The Vice President will act as an asset manager for a portfolio of debt and alternative investments which include but are not limited to whole loans, mezzanine loans, preferred equity, and pooled mortgage vehicles – such as Freddie Mac KF series bonds. The Asset Manager is responsible for managing all performance aspects of their portfolio including portfolio surveillance and reporting, borrower/sponsor interface, loan compliance and servicing. The AM will work closely with the Transactions, Legal, and Investor Relations teams on new acquisitions and the oversight of portfolio investments and with the Finance team related to cash management and payment collection.

Requirements

Bachelor’s degree is required
A minimum of 7-10 years of real estate debt asset management experience, with demonstrated experience asset-managing and/or servicing debt portfolios in multiple US markets (whole/senior/mezzanine loans and/or real estate securities).
Multifamily property sector experience is required
Superior analytical and problem-solving skills, with experience in providing creative and innovative solutions to real-time challenges.
An investment mindset with a thorough understanding of financial calculations such as NPV, DCF, and IRR.
Must be well-versed in project proformas and understanding deals, and able to articulate, both orally and in written form, the case for a specific project.
Proficiency with MS Excel and Word required

Nice To Haves

MBA or a Master’s in Real Estate or other relevant field is preferred.
Commercial property experience preferred.
Experience with 3rd party providers of financing and preparing, executing and monitoring securitizations is a plus.
proficiency with Argus, MRI, and AI a plus.

Responsibilities

Monitor the performance of each investment including detailed reviews of monthly financial and operating reports, regular updates with project sponsors/property managers, etc., with a focus on identifying issues early and being proactive in addressing them.
Serve as the primary point of communication with the borrower/sponsor.
Assess and respond to Borrower/Internal approval requests in consultation with the Head of Debt & Alternatives Asset Management and the Special Servicing Committee.
Oversee loan draws and the administration of escrow accounts.
Understand and monitor key dates and compliance requirements from all underlying documents including the first mortgage, operating agreements, and specific loan documents.
Ensure that all reporting deadlines and other compliance requirements are met by the borrower/sponsor and monitor any other performance requirements such as DSCR tests, etc.
Maintain credit/loan servicing files.
Review and approve budgets and other items as required by the governing documents.
Conduct regular site visits and market research to assess the underlying collateral.
Review monthly reports received from the trustee and/or servicers, again with a focus on identifying issues early and being proactive in addressing them.
Conduct regular/monthly loan portfolio reviews with special servicers, with a focus on servicer- and internally designated watchlist loans, large loans, and other loans of interest.
Assess and respond to approval requests in consultation with the Head of Debt & Alternatives Asset Management and Special Servicing Committee.
Ensure compliance with agreements between HGI and other parties such as the special servicer and institutional investors.
Participate in the administration and management of securitization initiatives and other credit facilities relating to the whole loan portfolio and other Freddie Mac initiatives.
Support and participate directly in the preparation of all monthly reporting processes.
Effectively and professionally communicate with, present to, and respond to questions from large institutions, groups of executives, investors, lenders, and partners.
Participate directly in the quarterly/annual valuation, audit, and compliance reporting processes.
Working with the Finance team, ensure that all loan/security payments are received.
Working with Investor Relations team, make recommendations related to investor distributions.
Oversee and lead any work outs, loan modifications and restructurings for assigned loans as needed.
Directly oversee and manage assigned Analyst and/or Associate staff and support the training and development of junior level team members within the group more generally.