Company Overview
Berkshire Residential Investments is a people-first real estate investment company who values not only the impact we make as a company, but the time we spend together in our high-performing teams. We value individual skills and perspectives to allow us to best serve our employees, investors, residents, and other stakeholders.
If you’re interested in a workplace where everyone feels empowered to bring their full, authentic selves to work each day, come join our talented and growing team at Berkshire Residential Investments. Our environment of entrepreneurial spirit, culture of expertise and our people-first approach will allow you to thrive while continuing to grow in your career.
Position Summary
The Associate, Debt Asset Management will assist the Debt Investments Asset Management team in analysis, oversight and review of the debt investments loan portfolios.
Responsibilities include, but are not limited to:
- Assist with ongoing monitoring of loan asset-level performance
- Maintain asset and portfolio-level models to ensure accuracy in reporting and analysis
- Assist with the compilation, updating, and analysis of debt investments
- Assist with quarterly reporting and investor reporting of the portfolios
- Complete reviews and analyses of draw requests, interest reserve requests, project budget modifications, and other asset level decisions
- Compile and report on loan level, securitization and portfolio level updates on business plan progress, pending loan and rate cap maturities
- Track and monitor business plan execution, property and portfolio performance, delinquencies, and workout progress
- Compare current and trailing property performance to prior period reporting and to underwriting; analyze negative trends and review source data for outliers
- Engage with third-party servicer on ongoing basis to ensure proactive view of loan performance, availability of relevant operating data, and identification of issues
- Provide analysis of pending loan maturities and watchlist loans
- Build and maintain strong relationships with JV partners, external partners, and vendors (others as needed) to understand processes and business and assist with creating efficiencies
- Perform property site inspections
- Engage early with leadership as issues or concerns are identified within the debt investments. Identify and recommend potential solutions and mitigants to risks and issues.
- Ensure comprehensive soft and hard documentation of necessary loan information and manage document repositories
- Consistently demonstrate use of tact and discretion.
Knowledge/Experience:
- 3-5 years of experience in multifamily real estate.
- Aptitude for organizing, prioritizing, and managing multiple priorities, using critical thinking and problem solving.
- Underwriting and/or asset management of multifamily debt/equity transactions preferred
- Experience with workouts, a plus
- Experience analyzing property operating statements and rent rolls
- Experience reviewing draw packages and loan advances, a plus
- Demonstrate ability to identify problems early and present corrective solutions in a timely and efficient manner
- Have a keen eye for multifamily value creation opportunities and the ability to act on them through others
- Ability to develop and maintain effective internal and external relationships with a range of individuals including Clients, Portfolio Reporting, Property Management and Acquisitions and Dispositions
- Ability to take direction from multiple sources while effectively managing multiple, changing priorities
- Ability to assess and quantify risk
- Ability to see, analyze and understand business dealings in terms of the overall business plan.
- Tenacity, patience, and perseverance to work with business deals from beginning to end of process.
- Strong attention to detail
- Strong written and verbal communication skills
- Develop productive working relationships with all team members including JV partners, property managers, project managers and third parties.
- Demonstrated high level of ethics and integrity with a straightforward and honest approach.
Technical/Educational Requirements:
- Bachelor’s degree in a related field. MBA, related Master’s degree, or CFA or CPA a plus.
- Demonstrated advanced financial modeling and Excel skills including cash flow analysis, waterfall modeling, and various return calculations and analysis
- Demonstrated understanding of debt investing terminology
Berkshire Residential offers an excellent benefits package, focusing on our employees’ total health and wellness. We offer programs and incentives that promote physical, mental, financial, and behavioral wellbeing both within and beyond our workplace. Please visit our Careers page for full details – and to learn more about how we value our employees.
Berkshire Residential values diversity, equity, inclusion and belonging. Berkshire is committed to providing equal opportunity in all practices, including employees and applicants for employment. We ensure that decisions affecting employees are made without regard to their race, color, creed, national origin, age, disability, gender, gender identity, sexual orientation, or any other protected status.
