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Structured Credit Associate - CRE/CMBS

Selby JenningsManhattan, NY🇺🇸United States

Quick overview

Salary$200k - $300k/yr
SeniorityMid Senior
Employment typeFull Time
Work modeHybrid
LocationManhattan, NY, United States
Credit AnalysisFinancial ModelingUnderwriting

Job description


Associate, Structured Credit - CRE / CMBS

Location: New York, NY
Compensation: $200K-$300K+ Total Compensation


The Opportunity

A leading alternative investment manager is looking to add an Associate to its Structured Credit team, with a primary focus on commercial real estate and CMBS.

The role will sit within a broad structured credit platform investing across both public and private markets. The strategy has been actively raising capital and provides exposure to a diverse and complex opportunity set.

This is a highly analytical investing seat suited for someone who can move quickly across a high volume of properties while also going deep on more complicated or distressed situations, particularly across office, hotel and multifamily assets.


Responsibilities
  • Underwrite and analyze commercial real estate properties and CMBS investment opportunities.
  • Evaluate property-level cash flows, market dynamics, location, tenant credit quality, lease structures and valuation.
  • Build financial models and conduct stress tests and scenario analyses to evaluate downside risk.
  • Analyze more complex and distressed CRE situations where deeper property-level underwriting is required.
  • Review loan documents, appraisals and other financial and property-level diligence materials.
  • Prepare detailed investment and credit memoranda with recommendations for senior members of the team.
  • Monitor existing CMBS investments and conduct ongoing credit surveillance.
  • Work closely with investment, risk and legal teams throughout the diligence and investment process.
  • Stay current on developments across CRE, CMBS and the broader structured credit markets.

Qualifications
  • 3-6 years of relevant experience, ideally within CMBS, CRE credit, structured credit or commercial real estate investing.
  • Experience at an investment bank, alternative asset manager, credit fund, B-piece investor or similar platform.
  • Strong understanding of CRE fundamentals, including property-level underwriting, lease structures, valuation and credit analysis.
  • Advanced financial modeling and analytical capabilities.
  • Ability to handle a high volume of underwriting while maintaining the ability to conduct deeper analysis on complicated situations.
  • Experience with Argus, CoStar, RCA or other CRE/CMBS analytical platforms is a plus.
  • Strong written and verbal communication skills.
  • Bachelor's degree in finance, economics, real estate, statistics, computer science or a related discipline.

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