Sound Point Capital Management, a credit-oriented alternative asset manager overseeing $45 billion AUM, is seeking an Asset Management Analyst to join its Commercial Real Estate team. This is an opportunity to work on a fast growing, well-capitalized, commercial real estate credit platform with a core focus on the origination and acquisition of transitional debt investments throughout the United States. The Sound Point Commercial Real Estate team invests in fixed and floating rate loans for all major asset classes (multifamily, office, mixed-use, industrial, hotel & retail). We are building a multi-asset class CRE loan portfolio of first mortgages and subordinate debt positions focused on generating attractive risk-adjusted returns.
The candidate will be responsible for proactively and systematically assisting the Asset Management team in the management of commercial real estate debt investments to protect and enhance asset value. The Asset Management Analyst will assist in monitoring, analyzing, and reporting on the performance of a portfolio of large and highly structured, complex, transitional commercial real estate loans, generally ranging in size from $25MM to $75MM. The position requires frequent borrower interaction and extensive collaboration with portfolio managers, third-party asset managers, originators, closers, co-lenders, and loan servicers.
The position will be hired on a full-time basis for our New York office, with limited remote capabilities.
Responsibilities - Provide ongoing loan surveillance, including the evaluation and tracking of key debt metrics, property performance, market and submarket trends, guarantor financial performance, review and approval of annual operating budgets, financial reporting, cash management.
- Compile Quarterly Asset Review (QAR) report to be reviewed by Investment Committee including:
- Attend borrower update calls and compile detailed notes on each asset performance within QAR document.
- Review IC memos for accuracy of information and note performance tracking on QARs
- Assist with LSR underwriting revisions for accuracy
- Review Costar/Axiometrics, etc. to update QAR market/submarket information
- Monitor and document within the QAR the progress of borrower business plans from loan closing through takeout.
- Assist in drafting clear and concise memorandums for modifications, future advances, waivers, extensions, collateral releases, loan paydowns or payoffs, lease approvals and consent requests that require investment committee approval.
- Partner with the Asset Management Team to assist with borrower draw requests, major lease reviews and approvals and other portfolio monitoring initiatives.
- Compile settlement statements for extensions, modifications, etc. in preparation for closing.
- Coordinate with third party asset managers, Trimont & SITUS, to obtain all necessary closing conditions.
- Provide document requests to Third Party Asset Managers to include:
- KYC information
- Missing document requests
- Assist with REO-related tasks and approvals including but not limited to:
- REO Operating Account OpeningEngaging third party reports
- Interviewing and recommending replacement property managers
- Interviewing and recommending replacement leasing brokers
- Assist with preparing REO business plans as needed by the Asset Management team.
- Update internal share file for third party asset managers with Critical to Board documents once a new deal has closed.
- Work on special projects as necessary; prepare internal presentations as necessary for asset management team or senior management.
- Coordinate with investment partners to answer questions and provide updates, including;
- payoff updates
- modification & extension updates
- loan maturity updates
- remit report resolutions
Experience and Qualifications
- 1-3 years' experience in commercial real estate equity or debt with asset management, underwriting or valuation experience required
- Must be able to work effectively with minimum supervision, work well under pressure, and handle multiple tasks/demands in an environment of changing priorities and tight deadlines
- Strong technical and writing ability with exceptional organizational, interpersonal, and communication skills required
- Must possess the financial and quantitative acumen necessary to make well-reasoned, decisive recommendations, as applicable, to senior management and an understanding of the ESG landscape as it relates to commercial real estate debt
- Ability to problem-solve and exercise independent judgement while displaying a high degree of initiative and accuracy
- Ability to interpret and understand complex debt structures and cash flow waterfalls
- Strong interpersonal skills to solidify and grow relationships with borrowers and brokers
- Proficiency in Microsoft Office, especially in Excel and Word, as well as web-based applications. Knowledge of Argus and Tableau a plus.
