Berkshireresi
AVP, Credit Manager
Berkshireresi, Boston, Massachusetts, us, 02298
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 AVP, Credit Manager to assist with oversight of Berkshire's current bridge loan portfolio.
Responsibilities Include, But Are Not Limited To
Provide leadership to a team responsible for monitoring bridge loan asset level performance on an ongoing basis.Review and recommend bridge loan draw requests, ensuring comprehensive detail and data has been provided from Servicer and Borrower.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/asset manager on ongoing basis to ensure proactive view of loan performance and identification of issues.Track all changes in business plan, progression of business plan execution, insurance losses, and delinquencies.Review all annual asset inspection reports for trends and perform property inspections as necessary.Complete securitization reporting, including compiling and analyzing quarterly business plan execution updates, loan performance, and loan modifications.Assist with loan modifications if/as needed, to mitigate loan default risk.With senior leadership, help coordinate monthly asset credit scoring and review outliers.Work with Berkshire credit managers to provide exposures for market, sponsor, product subtype, pending maturities.Perform exit analysis for bridge loans with 90 days to maturity to identify extension/refinance risk.Provide sensitivities as needed to stress loan and portfolio outcomes.Provide detailed reporting summarizing submarket, asset, sponsor and financial metrics.Provide downside analyses to include breakeven occupancy, breakeven cap rate, potential refinance shortfalls, and sponsor equity.Consistently demonstrate use of tact and discretion.Knowledge/Experience
A seasoned real estate professional with comprehensive knowledge of the residential sector. 7+ years of experience preferred.Savvy and experienced underwriting and structuring of multifamily debt and equity transactions.Experience with GSE multifamily lending programs preferred.Special Servicing, Loan Restructuring/Workout and Distressed Loan experience preferred.Experience in both debt and equity transactions preferred.Knowledge of full capital structures.Demonstrated successful experience in people management and leadership.Excellent verbal and written communications skills.Ability to work independently, with limited support to deliver results.Ability to influence and persuade, using a variety of approaches appropriate for the situation and party being influenced.Excellent relationship building skills in working with property management, internal and external partners and sellers.Ability to travel for site inspections.Aptitude for organizing, prioritizing, and managing multiple priorities, using critical thinking and problem solving.Collaborative working style with inclusive work and thinking behaviors, commitment to excellence in teams and work product, with a strong work ethic.Demonstrate emotional intelligence in high pressure and sensitive situations.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.Represent the Berkshire employment brand well to candidates by seeking to understand the capabilities and insights of people with unique backgrounds, cultures, styles, and abilities.Maintain confidentiality of sensitive information and communications of information.Demonstrated high level of ethics and integrity with a straightforward and honest approach.Technical/Educational Requirements
Bachelor’s Degree in a related field; MBA or related master’s degree a plus.Excellent computer skills; proficiency with Microsoft suite of products, Yardi (helpful).Investment analytical skills and advanced Excel modeling capabilities.
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.#J-18808-Ljbffr
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 AVP, Credit Manager to assist with oversight of Berkshire's current bridge loan portfolio.
Responsibilities Include, But Are Not Limited To
Provide leadership to a team responsible for monitoring bridge loan asset level performance on an ongoing basis.Review and recommend bridge loan draw requests, ensuring comprehensive detail and data has been provided from Servicer and Borrower.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/asset manager on ongoing basis to ensure proactive view of loan performance and identification of issues.Track all changes in business plan, progression of business plan execution, insurance losses, and delinquencies.Review all annual asset inspection reports for trends and perform property inspections as necessary.Complete securitization reporting, including compiling and analyzing quarterly business plan execution updates, loan performance, and loan modifications.Assist with loan modifications if/as needed, to mitigate loan default risk.With senior leadership, help coordinate monthly asset credit scoring and review outliers.Work with Berkshire credit managers to provide exposures for market, sponsor, product subtype, pending maturities.Perform exit analysis for bridge loans with 90 days to maturity to identify extension/refinance risk.Provide sensitivities as needed to stress loan and portfolio outcomes.Provide detailed reporting summarizing submarket, asset, sponsor and financial metrics.Provide downside analyses to include breakeven occupancy, breakeven cap rate, potential refinance shortfalls, and sponsor equity.Consistently demonstrate use of tact and discretion.Knowledge/Experience
A seasoned real estate professional with comprehensive knowledge of the residential sector. 7+ years of experience preferred.Savvy and experienced underwriting and structuring of multifamily debt and equity transactions.Experience with GSE multifamily lending programs preferred.Special Servicing, Loan Restructuring/Workout and Distressed Loan experience preferred.Experience in both debt and equity transactions preferred.Knowledge of full capital structures.Demonstrated successful experience in people management and leadership.Excellent verbal and written communications skills.Ability to work independently, with limited support to deliver results.Ability to influence and persuade, using a variety of approaches appropriate for the situation and party being influenced.Excellent relationship building skills in working with property management, internal and external partners and sellers.Ability to travel for site inspections.Aptitude for organizing, prioritizing, and managing multiple priorities, using critical thinking and problem solving.Collaborative working style with inclusive work and thinking behaviors, commitment to excellence in teams and work product, with a strong work ethic.Demonstrate emotional intelligence in high pressure and sensitive situations.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.Represent the Berkshire employment brand well to candidates by seeking to understand the capabilities and insights of people with unique backgrounds, cultures, styles, and abilities.Maintain confidentiality of sensitive information and communications of information.Demonstrated high level of ethics and integrity with a straightforward and honest approach.Technical/Educational Requirements
Bachelor’s Degree in a related field; MBA or related master’s degree a plus.Excellent computer skills; proficiency with Microsoft suite of products, Yardi (helpful).Investment analytical skills and advanced Excel modeling capabilities.
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.#J-18808-Ljbffr