Harbor Group Management Company is a multi-billion dollar real estate investment and property management firm. As we continue to grow, we are looking for passionate, goal oriented, creative individuals with an entrepreneurial spirit and great communication skills. Harbor Group is dedicated to outstanding customer service and providing exquisite living experience for our residents.
Job Title: Senior Associate, Asset Management – Debt Investments
Division: Corporate – Asset Management
Supervisor: Senior Vice President, Asset Management
FLSA Status: Exempt
Position Summary: The Senior Associate, Asset Management is part of Harbor Group’s Asset Management group, which manages all of the company’s direct equity, preferred equity, and debt portfolio investments. The Senior Associate will act as an asset manager for a portfolio of debt and alternative investments and provide analytical and transactional support within the Asset Management group.
Essential Duties & Responsibilities:
• Oversee all aspects of the assigned debt and alternative investments portfolio.
• Work collaboratively with the Transactions, Legal, and Investor Relations teams on new acquisitions.
• Participate directly in the asset management aspects of the loan origination/acquisition process including review of key underwriting assumptions; the structuring and mechanics of loan reserves, draws, and performance tests; approval of borrower operational and capital budgets; legal documentation; and the on-boarding of new investments into the portfolio.
• Review monthly, quarterly, and annual borrower reports including customary financial reports (income statement, balance sheet, statement of cash flows, and partner capital accounts) as well as various property operational reports such as leasing reports, traffic reports, construction progress reports, aged receivables, and delinquencies, etc.
• Identify and understand variances relating to underlying property/collateral performance. Stay abreast of micro, local, and regional property and capital market trends. Within the legal framework of each investment, work to improve in sponsor and/or property performance to mitigate risk and/or enhance overall investment returns.
• Prepare analysis, formulate strategies, recommend solutions, secure necessary internal and external approvals, negotiate terms with sponsors, and work with the Legal team to manage the legal process and transaction documentation.
• Conduct site visits on a regular basis and meet with borrowers/sponsors to review and assess property operations, leasing, capital improvement programs, and property physical condition.
• Manage the ongoing servicing of each investment including timely receipt of all scheduled debt service payments, the maintenance of all tax, insurance, replacement, and capital reserves, and all loan advances and reserve draws. Monitor and enforce various borrower and guarantor reporting, performance, and compliance tests. Review annual budgets and, where applicable, manage the lender approval process.
• Participate in the administration and management of CLO initiatives and other credit facilities relating to the whole loan portfolio.
• Support and participate directly in the quarterly and annual valuation, audit, and compliance reporting processes.
• Effectively and professionally communicate and present to, and respond to questions from large institutions, groups of executives, investors, lenders and partners.
• Bachelor’s degree is required and an MBA or a Master’s in Real Estate or other relevant field is preferred.
• A minimum of 4-years of real estate debt asset management experience, with demonstrated experience asset-managing a portfolio of greater than 20 whole/senior/mezzanine loans and/or real estate securities in multiple US markets.
• Multifamily and commercial property sector experience is required.
• Experience with third party providers of financing and preparing, executing and monitoring CLOs 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, MRI, and Situs/CLOSER a plus.