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Open nowPosted 37 days ago

Associate, Debt Asset Management (Bridge Lending)

Berkshire Group, LLC57 open roles

Pay
$115,000 – $135,000 a year
Where
Boston Headquarters
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Your applicationOpen nowAssociate, Debt Asset Management (Bridge Lending)Berkshire Group, LLC · Boston Headquarters
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The clock on this job

Early applications get read.

7.8% of postings close within 7 days. Measured by our own scanner across the market. Berkshire Group, LLC postings stay open a median of 7 days.

Share of postings closed within
  1. 1.7%1 day
  2. 3.5%3 days
  3. 7.8%7 days
  4. 14.6%14 days
  5. 34.1%30 days
This job: posted 37 days ago

Berkshire Group, LLC median: 7 days open

The posting

Company Overview

Berkshire Residential Investments is a people-first real estate investment company who values not only the impact we make as a company, but the time we spend together in our high-performing teams. We value individual skills and perspectives to allow us to best serve our employees, investors, residents, and other stakeholders.

If you’re interested in a workplace where everyone feels empowered to bring their full, authentic selves to work each day, come join our talented and growing team at Berkshire Residential Investments. Our environment of entrepreneurial spirit, culture of expertise and our people-first approach will allow you to thrive while continuing to grow in your career.

Position Summary

Under the direction of the senior leaders of the debt platform, the Associate, Debt Asset Management (Bridge Lending) will contribute to managing debt investments on behalf of Berkshire.

Responsibilities include, but are not limited to:

  • Bridge Lending Platform Assist with ongoing monitoring of a portfolio of bridge loans and their respective underlying asset level performance Review draw requests, ensuring comprehensive support has been provided from Servicer and Borrower Compare current and trailing performance to prior period reporting and to underwriting; analyze/escalate negative trends and review source data for outliers Ongoing engagement with servicer/asset manager to ensure proactive view of loan performance, availability of relevant operating data, and identification of issues Track all changes in business plan, progression of business plan execution, insurance losses, and delinquencies Assist with securitization reporting, including compiling and analyzing quarterly business plan execution updates, loan performance, borrower financial condition, inspection results, and loan modifications Work with Berkshire credit managers to provide exposures for market, sponsor, product subtype, pending maturities Assist Credit Managers with analysis of pending loan maturities and watchlist loans Provide sensitivities as needed to stress portfolio outcomes Under direction of the VP Debt Investments, prepare watchlist summaries for submission to MF1 Leadership and Investment Committee Assist in the negotiation of loan modifications and extensions, while providing sound evidence-based recommendations to senior management Provide downside scenarios to include breakeven occupancy, break even cap rate, potential refinance shortfalls, and sponsor equity
  • Visit markets and inspect properties to validate business plan assumptions, monitor property operations, and identify opportunities and issues to improve operations
  • Stay abreast of relative market information for all markets related to the portfolio
  • Consistently demonstrate use of tact and discretion

Knowledge/Experience:

  • 3+ years of successful experience in loan asset management of multifamily real estate
  • Underwriting of multifamily debt transactions preferred, a plus
  • Ability to analyze property operating statements and rent rolls
  • Experience reviewing draw packages and loan advances, a plus
  • Experience in performing collateral site inspections, a plus
  • Demonstrate ability to identify problems early, escalate when required, and solve them effectively with minimal assistance
  • Ability to develop and maintain effective internal and external relationships with a range of individuals including Clients, Third Party Servicers, Brokers, Appraisers, Portfolio Management, and Property Managers
  • Ability to take direction from multiple sources while effectively managing multiple, changing priorities
  • Ability to assess and quantify risk
  • Aptitude for organizing, prioritizing, and managing multiple priorities, using critical thinking and problem solving
  • Demonstrated multi-modal communication style that reaches every stakeholder, specifically excellent verbal, and written communications
  • Collaborative working style with inclusive work and thinking behaviors, commitment to excellence in teams and work product, with a strong work ethic
  • Proficiency and willingness to adopt new systems and processes
  • Demonstrated ability to improve on process efficiency and accuracy
  • Demonstrates emotional intelligence in high pressure and sensitive situations
  • Ability to see, analyze and understand business dealings in terms of the overall business plan
  • Performs with heightened attention to detail and follows best in class processes
  • Tenacity, patience, and perseverance to work with business deals from beginning to end of process
  • Represent the Berkshire employment brand well to candidates by seeking to understand the capabilities and insights of people with unique backgrounds, cultures, styles, and abilities
  • Maintain confidentiality of sensitive information and communications of information
  • Develop productive working relationships with all team members including internal clients and external third parties
  • Demonstrated high level of ethics and integrity with a straightforward and honest approach

Technical/Educational Requirements:

  • Bachelor’s degree in a related field. MBA, related Master’s degree or CFA a plus.
  • Formal Credit Training, a plus
  • Demonstrated advanced financial modeling and Excel skills required
  • Demonstrated ability to use and learn new technology (e.g., computers/hardware, mobile, software, cloud- based programs)
  • Proficiency in Microsoft Suite of Products (e.g., Word, Outlook, Excel, Teams, Power Point)

Berkshire Residential offers an excellent benefits package, focusing on our employees’ total health and wellness. We offer programs and incentives that promote physical, mental, financial, and behavioral wellbeing both within and beyond our workplace. Current anticipated annual base salary range: $115,000 - $135,000. Base salary within the range will be determined by various factors including but not limited to the individual's experience, skills and qualifications. Please visit our Careers page for full details – and to learn more about how we value our employees.

We believe

Berkshire Residential values diversity, equity, inclusion and belonging. Berkshire is committed to providing equal opportunity in all practices, including employees and applicants for employment. We ensure that decisions affecting employees are made without regard to their race, color, creed, national origin, age, disability, gender, gender identity, sexual orientation, or any other protected status.

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