Commercial Real Estate - Asset Management – Vice President

Sound Point Capital Management, a credit-oriented alternative asset manager overseeing approximately $43 billion AUM, is seeking an Asset Management VP 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 VP 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/review 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 Opening
- Engaging third party reports
- Interviewing and recommending replacement property managers
- Interviewing and recommending replacement leasing brokers
- Prepare and review for accuracy 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 and present to investment partners in answering questions and providing updates on the portfolio, including;
- payoff updates
- modification & extension updates
- loan maturity updates
- remit report resolutions
- property business plan updates and underwriting
Assist in managing a team of 4 CRE AM professionals.

Experience and Qualifications

5-10 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
Must be able to anticipate problems in the portfolio and proactively work to resolve issues before they occur.
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.

Hybrid schedule is Monday-Thursday in office with the option to work remotely on Friday. This is subject to change.

Equal Opportunity Statement

We are an equal opportunity employer, and we value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

(Note - This position is exempt and would not qualify for overtime pay.)