Vice President, Originations & Portfolio Management at Keller Augusta Vice President, Originations & Portfolio Management at Keller Augusta in South Portland, Maine Posted in 3 days ago.

Type:

full-time

Job Description:

Company:

Our client is an established, family-owned real estate company with two primary business lines: (i) real estate investment and management and (ii) real estate private lending. In its real estate investment business, our client acquires, develops and manages a diversified portfolio of retail, industrial and apartment properties throughout New England, currently totaling more than 2 million square feet. In its real estate private lending business, it provides short-term bridge capital to real estate investors and developers. With a geographic concentration in New England, our client finances non-owner occupied residential property, all income producing property, development/renovation projects and land. Its loans often have a construction or renovation component, are short-term (12-18 months), highly structured and are primarily first mortgages in the $1 - $12 million range. Given the opportunistic nature of the business, investments may be secured by collateral across the capital structure but are primarily first mortgages and to a lesser extent, second mortgages and/or preferred equity. Our client is one of the largest and most respected private lenders in New England and has experienced rapid growth since 2015 and expects this growth to continue.

Position:

This role will be focused exclusively on our client's private lending business and be based at the successful candidate's home office. The firm has begun making investments in the Portland, ME, market and is looking for a Vice President, Originations to spearhead the expansion locally. This VP will identify and underwrite new loan opportunities for the private loan portfolio while managing the existing and growing portfolio and deepening relationships within its existing borrower network.

Responsibilities:

General areas of responsibility include asset management of the loan portfolio, identifying and underwriting new loan investment opportunities, managing aspects of the construction draw process and general loan administration. Loan servicing responsibilities - including construction inspections - will be covered by the existing servicing team at the client's main office in Quincy, MA. Identify, evaluate, and execute prospective investment opportunities to broaden the firm's market reach. Conduct market analytics, demographic studies, and reporting. Communicate with local brokers on market trends and review sales and rental comps as appropriate for a given loan investment. Leverage local network of developers, general contractors, and brokers to identify new opportunities. Work with existing borrowers to evaluate and underwrite new investment opportunities, including asset-level due diligence and sub-market analysis. Perform underwriting, draft internal deal summaries, prepare term sheets, conduct site inspections, and review/ negotiate loan documents. Work with client's in-house construction inspector to evaluate construction budget (as applicable). Manage due diligence and legal review processes. Monitor asset and market performance, including evaluation of borrower performance against the business plan. Work closely with construction inspector and internal accounting team to approve construction draws and confirm timely payments by borrowers. Assist in the asset management of the existing portfolio and interact with the firm's asset management, servicing and legal teams, which will include monitoring portfolio and collateral performance. Travel to the client's home office in Quincy, MA expected to be required once per quarter (after initial onboarding process).

Characteristics & Qualifications:

Seeking candidates with 10+ years of experience in commercial real estate banking or private lending. Excellent market knowledge of - and network in - the Portland, ME MSA Experience lending to multifamily product (for sale and/or for rent) strongly preferred. Self-starter with an entrepreneurial personality, as well as the motivation and capacity to deal with the challenges and opportunities of growing a business. Financial modeling and underwriting proficiency, including structured debt and preferred equity analyses, specifically the use of Microsoft Excel to support investment decision-making. Desire and ability to work in a team-oriented environment, as well as the initiative and resourcefulness to manage projects independently. Excellent interpersonal, written and oral communications skills.

Salary:

Compensation will be based on experience and include base salary, bonus, and benefits.