Real Estate Associate

We are seeking an experienced and analytical Senior Associate – Commercial Real Estate / CMBS Asset Management & Investments to oversee high-value commercial real estate loan portfolios and evaluate structured investment opportunities. The ideal candidate brings strong financial modeling expertise, direct experience managing lender consents and loan workouts, and a proven ability to perform qualitative and quantitative underwriting across all major commercial asset types nationwide.

In this role, you will lead the asset management of large-scale loan portfolios, underwrite CMBS B-piece investments, interface with borrowers and senior executives, and draft comprehensive reporting packages for investors and internal leadership.

Key Responsibilities

• Portfolio & Asset Management: Serve as the lead asset manager for a large-scale portfolio of commercial mortgage loans (including CMBS securitizations and SASB loans). Review and approve lender major decision consent requests from borrowers, including major leases, property management changes, partial releases, annual budgets, and reserve disbursements.
• Investment & Underwriting Analysis: Underwrite and perform quantitative and qualitative analysis on commercial real estate loans and collateral for prospective CMBS B-Piece acquisitions and debt investments. Leverage market research tools, broker feedback, and financial models to evaluate property performance.
• Loan Workouts & Special Servicing: Analyze distressed and defaulted loans, review financial statements (Income Statements, Rent Rolls, Balance Sheets) and loan documentation, and evaluate credit risk. Collaborate with legal counsel and senior management to execute workout strategies, including settlement agreements, loan modifications, forbearances, and foreclosures.
• Financial Modeling & Valuation: Build and maintain financial models to track investor returns, perform loan waterfall calculations, and estimate amounts required to satisfy past-due principal, interest, default interest, special servicing fees, and protective advances.
• Reporting & Executive Presentation: Draft quarterly asset status reports, maintain investor reporting packages, and present loan performance and workout recommendations to senior executives and leadership teams.
• Compliance & Quality Control: Perform detailed credit analysis and transactional reviews to ensure alignment with underwriting standards, risk management protocols, and regulatory compliance guidelines.

Qualifications & Requirements

• Education: Bachelor’s degree in Finance, Real Estate, Business Administration, or a closely related quantitative field.
• Experience: 3–5+ years of direct experience in commercial real estate asset management, CMBS underwriting, special servicing/loan workouts, or real estate investment analysis.
• Technical Skills:
• Advanced proficiency in financial modeling and Microsoft Excel.
• Hands-on experience with real estate market research software (e.g., CoStar).
• Experience working with complex loan structures, including CMBS, SASB, and distressed debt.
• Core Competencies: Strong understanding of CRE accounting (income statements, balance sheets, rent rolls), loan agreements, and lease structures.
• Soft Skills: Excellent written and verbal communication skills with a demonstrated ability to present complex deal structures to executive leadership, manage borrower relationships, and lead project workflows.