Analyst - Commercial Real Estate
Sound Point Capital Management, LP - new york city, NY
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Sound Point Capital Management, a credit-oriented alternative asset manager overseeing $45 billion AUM, is seeking an Asset Management AnalystAssociate to join its Commercial Real Estate team. This is an opportunity to work on a fast growing, well-capitalized, commercial real estate credit platform with a core focus on the origination and acquisition of transitional debt investments throughout the United States. The Sound Point Commercial Real Estate team invests in fixed and floating rate loans for all major asset classes (multifamily, office, mixed-use, industrial, hotel & retail). We are building a multi-asset class CRE loan portfolio of first mortgages and subordinate debt positions focused on generating attractive risk-adjusted returns.The candidate will be responsible for proactively and systematically assisting the Asset Management team in the management of commercial real estate debt investments to protect and enhance asset value. The Asset Management Analyst will assist in monitoring, analyzing, and reporting on the performance of a portfolio of large and highly structured, complex, transitional commercial real estate loans, generally ranging in size from $25MM to $75MM. The position requires frequent borrower interaction and extensive collaboration with portfolio managers, third-party asset managers, originators, closers, co-lenders, and loan servicers.The position will be hired on a full-time basis for our New York office, with limited remote capabilities.ResponsibilitiesProvide ongoing loan surveillance, including the evaluation and tracking of key debt metrics, property performance, market and submarket trends, guarantor financial performance, review and approval of annual operating budgets, financial reporting, cash managementCompile Quarterly Asset Review (QAR) report to be reviewed by Investment Committee including:Attend borrower update calls and compile detailed notes on each asset performance within QAR document.Review IC memos for accuracy of information and note performance tracking on QARsAssist with LSR underwriting revisions for accuracyReview CostarAxiometrics, etc. to update QAR marketsubmarket informationAssist in drafting clear and concise memorandums for modifications, waivers, extensions, collateral releases, loan paydowns or payoffs, lease approvals and consent requests that require investment committee approval.Partner with the Asset Management Team to assist with borrower draw requests, major lease reviews and approvals and other portfolio monitoring initiativesCompile settlement statements for extensions, modifications, etc. in preparation for closing. Coordinate with third party asset managers Wells Fargo & SITUS to obtain all necessary closing conditions.Provide document requests to Third Party Asset Managers, Wells Fargo & SITUS, to include:KYC informationMissing document requestsInput loan and portfolio level data into main system of record, Backshop.Assist with any REO-related tasks and approvalsUpdate internal share file for third party asset managers with Critical to Board documents once a new deal has closedWork on special projects as necessary; prepare internal presentations as necessary for asset management team or senior management.Coordinate with investment partners to answer questions and provide updates, including;payoff updatesmodification & extension updatesloan maturity updatesremit report resolutionsExperience and Qualifications1-3 years' experience in commercial real estate equity or debt with asset management, underwriting or valuation experience requiredMust be able to work effectively with minimum supervision, work well under pressure, and handle multiple tasksdemands in an environment of changing priorities and tight deadlinesStrong technical and writing ability with exceptional organizational, interpersonal, and communication skills requiredMust possess the financial and quantitative acumen necessary to make well-reasoned, decisive recommendations, as applicable, to senior management and an understanding of the ESG landscape as it relates to commercial real estate debtAbility to problem-solve and exercise independent judgement while displaying a high degree of initiative and accuracyAbility to interpret and understand complex debt structures and cash flow waterfallsStrong interpersonal skills to solidify and grow relationships with borrowers and brokersProficiency in Microsoft Office, especially in Excel and Word, as well as web-based applications. Knowledge of Argus, Backshop and Tableau a plus.
Created: 2024-09-26