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Associate, Asset Management

Company: SelectLeaders
Location: Chicago
Posted on: September 25, 2022

Job Description:

Founded in 2008, Prime Finance is a fast growing, diversified commercial real estate credit investment platform. It seeks to deliver attractive returns to investors with a range of duration and risk/return options. Prime Finance has reached an inflection point in its growth trajectory which presents an immediate opportunity to accelerate that growth through further expansion of existing and new credit strategies as well as extensive investment in internal processes, systems, and resources.

Job Summary:

The Associate will support the Director of Asset Management, Special Situations with all aspects of Prime's Special Situations investment management process with a primary focus on monitoring asset-level performance and supporting business plan execution. This individual will be responsible for positively interacting with partners and borrowers as well as effectively communicating property updates to senior members of the team in order to ensure effective management of the portfolio.

Special Situations investments are expected to include, but not be limited to, issuing senior and subordinate debt as well as preferred and structured JV equity; acquiring non-performing and sub-performing commercial real estate debt; providing rescue and runway capital in distressed or dislocated scenarios as well as acquiring and operating underperforming REO.

Essential Functions:

  • Assist the Director of Asset Management, Special Situations with all aspects of business plan execution and investment management
  • Assist with the management of a range of debt and equity investments to measure and proactively reduce risk and strengthen asset performance
  • Assist in the preparation and presentation of periodic portfolio reviews with Investment Committee
  • Monitor property performance and progress towards achieving business plan objectives through review of asset-level financial reports and budgets, preparation of lease abstracts, processing capital disbursement requests, and research of competitive properties
  • Proactively track covenants and critical milestones to ensure compliance with agreements.
  • Collaborate with deal teams to transition new investments to Asset Management
  • Partner with investment underwriters to maintain working models to continually track and periodically reforecast investment performance
  • Establish positive rapport and constructively interact with partners and borrowers
  • Identify potential asset performance issues and effectively communicate the information to senior personnel
  • Develop market familiarity and assist in the research, analysis, and execution of asset-level initiatives
  • Assist internal and external transaction partners to seamlessly onboard investments
  • Support interactions with Legal, Capital Markets, Accounting, and Compliance as needed

    • Three to five years of commercial real estate experience required, with asset management experience preferred
    • Bachelor's degree (BS/BA)
    • Excellent written and verbal communication skills
    • Ability to read and interpret legal documents
    • Familiarity with multiple property types such as office, multifamily, retail, and lodging
    • Strong quantitative skills and technical/computer skills (including proficiency in Microsoft Office and Argus)
    • Experience with commercial real estate valuation, credit underwriting, market analysis, and administering complex funding requests
    • Familiarity with operating characteristics of real estate projects (revenue, expenses, capital expenditures, tenant credit, lease structures, etc.)
    • Ability to work effectively on multiple projects simultaneously and proactively execute responsibilities without direct oversight
    • Desire to join an entrepreneurial team and grow along with the Special Situations platform
    • Problem-solving attitude and team player

Keywords: SelectLeaders, Chicago , Associate, Asset Management, Executive , Chicago, Illinois

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