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Open nowPosted 2 days ago

VP, Asset Management Debt & Alternative Investments

Harbor Group Management123 open roles

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Harbor Group International, 51 West 52nd Street, New York, New York, United States of America
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Your applicationOpen nowVP, Asset Management Debt & Alternative InvestmentsHarbor Group Management · Harbor Group International, 51 West 52nd Street, New York, New York, United States of America
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The clock on this job

Early applications get read.

13.6% of postings close within 7 days. Measured by our own scanner across the market. Harbor Group Management postings stay open a median of 20 days.

Share of postings closed within
  1. 2.3%1 day
  2. 4.7%3 days
  3. 13.6%7 days
  4. 21.9%14 days
  5. 36.9%30 days
  6. 59.0%60 days
This job: posted 2 days ago

Harbor Group Management median: 20 days open

The posting

Vice President, Asset Management - Debt & Alternative Investments

Job Title: Vice President, Asset Management - Debt & Alternative Investments Location: Onsite in either New York, NY or Richardson, TX corporate office **Compensation range is location based

Position Summary: The Vice President, Asset Management – Debt & Alternatives 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 pooled mortgage vehicles – including a large portfolio of Freddie Mac K-series bonds – as well as whole loans, mezzanine loans, preferred equity, and other structured investments. The Vice President is responsible for managing all performance aspects of their portfolio including portfolio and investment surveillance and reporting, servicer/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. The Vice President’s near-term focus will be heavily weighted on our Freddie Mac bond portfolio, including overall portfolio management, bond-level and loan-level surveillance and watchlisting, and capital markets related activities as well as evaluating and handling DCH approval requests and working with special servicers to formulate, negotiate, and execute loan modifications/restructures, loan assumptions, DIL/foreclosures, guaranty claims, and REO asset recovery plans. A demonstrated track record overseeing multifamily property leasing, operations, and capital improvements, on a direct equity and/or REO basis, alongside experience working with mortgage loan documents and other credit instruments, is fundamental to the role. Essential Duties & Responsibilities include the following but are not limited to the job specifications contained herein. Additional duties or job functions that can be performed safely may be required as deemed necessary by Harbor Group Management Company. Pooled Mortgage Securities: • 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. • Actively monitor monthly remittance reports, including loan repayments, trust advances and interest on advances, and senior class participations, with an eye toward maximizing total bond-level investment returns. • Assess and respond to DCH approval requests in consultation with the Co-Head of Asset Management and Special Servicing Committee. • Ensure compliance with agreements between HGI and other parties such as the special servicer and institutional investors. • Collaborate with the Transactions team and others with respect to repo facilities and warehouse lines. Securitized Mortgage Loans, Whole Loans, Mezzanine Debt and Preferred Equity: • Monitor the performance of each investment including detailed reviews of monthly financial and operating reports and regular updates with servicers/sponsors/property managers, etc., with a focus on identifying issues early and being proactive in addressing them. • Conduct regular site visits and market research to assess and critically evaluate the underlying collateral. • Serve as the primary point of communication with the servicer/borrower/sponsor. • Formulate, negotiate, and execute loan modifications/restructures, DIL/foreclosures, guaranty claims, and REO asset recovery plans. • Oversee loan draws and the administration of escrow accounts. • Understand and monitor key dates and compliance requirements from all underlying documents including trust documents, loan documents, inter-creditor agreements, operating agreements, etc. • Ensure that all reporting deadlines and other compliance requirements are met by the servicer/borrower/sponsor and monitor any other performance requirements such as DSCR tests, escrow replenishment requirements, etc. • Review and approve budgets and other items as required by the governing documents. • Maintain credit/loan servicing files. All Assets: • Support and participate directly in the preparation of all monthly reporting materials. • Effectively and professionally communicate with, present to, and respond to questions from senior executives, large institutions, investors, lenders, and partners. • Participate directly in the quarterly/annual valuation, audit, and all compliance reporting processes. • Participate in the administration and management of securitizations and other credit instruments relating to the whole loan portfolio and other investments. • Working with the Finance team, ensure that all loan/security payments are received. • Working with Investor Relations team, make recommendations related to investor distributions. • Working with in-house and outside Legal teams, oversee and lead 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. Qualifications: • Bachelor’s degree is required and an MBA or a Master’s in Real Estate or other relevant field is preferred. • A minimum of 7-10 years of real estate asset management experience, with demonstrated track record of asset-managing direct equity investments and alternative investments including some or all of the following: real estate securities, whole loans, senior and junior mezzanine loans, and/or preferred equity. • Multifamily property sector experience is required; commercial property experience preferred. • Experience with working with special servicers and Freddie Mac B-piece securities is a plus. • Experience working with sale brokers, mortgage brokers, and other providers of financing is a plus. • 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; proficiency with Argus, Yardi, Claude, and other AI-agents a plus. #LI-LL1

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