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Senior Director, Commercial Mortgage Originations
Tiaa
San Francisco, CA, United States
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COMPANY OVERVIEW:
TH Real Estate, an operating division of TIAA Global Asset Management, is one of the largest real estate investment managers in the world with c.$97bn in AUM. Managing a suite of nearly 80 funds and mandates spanning both debt and equity across diverse geographies, sectors, investment styles and vehicle types, we provide access to every aspect of real estate investing. With offices in 18 cities throughout the US, Europe and Asia-Pacific, over 450 professionals and 60 years of investing experience, the platform offers impressive local expertise coupled with a sophisticated global perspective.
Our investment, asset management and corporate strategies grow from a deep understanding of the structural trends that we believe will shape the future of real estate and responsible investing beyond market cycles. This ‘Tomorrow’s World’ approach sits at the core of our investment process and business operations, informing our long-term view of real estate investments for the enduring benefit of both clients and society. www.threalestate.com
THE POSITION
TH Real Estate is seeking a commercial real estate professional with a strong commercial mortgage lending and finance background including experience in originating senior fixed rate core mortgages and floating rate bridge loans as well as subordinate debt (mezzanine/B-Notes) on both stabilized and transitional/value-add assets who is eager to pursue an opportunity to progress on TH Real Estate’s U.S. Origination team. The right individual must have a strong command of real estate financial analysis, including Argus cash flow modeling and an understanding of capital markets, as well as solid critical thinking and communications skills to be successful. The position provides an opportunity to work in a high profile, dynamic and creative environment in an institution with a long history of commercial real estate investing.
Responsibilities:
• The Senior Director will have responsibility for commercial mortgage origination as well as managing a team responsible for achieving origination volume and performance targets in the West Coast region.
• Lead the development of origination skills, transaction negotiation skills and training and development of junior staff.
• Represents TIAA and TH Real Estate in senior positions in industry trade groups in order to effectively promote the GRE platform and advance the brand within the real estate and lending industry.
• Monitor, and analyze a significant amount of commercial mortgage investment opportunities primarily in the specified geographic region, but may also be asked to assist in transactions in other regions as deemed necessary. Act independently within established investment policy guidelines, developed workload strategies and in response to market conditions.
• Manage existing and generate new business relationships with direct deal sources, including developers and owners, the mortgage broker community as well as other market participants with whom TIAA might partner in various co-lending arrangements and senior/subordinate structures (life companies, commercial banks, investment banks, and major “non-bank” lenders such as private debt funds).
• Maintain a strong and current knowledge of real estate capital markets with emphasis on
permanent loans, construction loans, floating rate, subordinate debt, CMBS products; strong market knowledge of assigned territory (West Coast region).
• Preparation of all related documentation including credit committee presentations, loan applications, commitments and other associated documents.
• Present transactions, financings or holdings for review and approval to appropriate oversight committee (i.e., team, CRC, IMC, IC).
• Complete negotiation of all transaction/financing documentation.
• Coordinate investment/financing process with Portfolio Management, legal and other functional areas within the Company.
• Monitor investment performance and makes portfolio recommendations; ensure that recommendations are timely and well developed and in keeping with insurance law requirements.
• Travel is required.
QUALIFICATIONS:
Required
• BA degree in Finance, Real Estate or Economics (MBA, Masters in Real Estate preferred).
• A minimum of 15 years of experience originating and underwriting commercial mortgage loans in multiple markets, across multiple asset types and strategies including floating rate bridge loans for transitional/value-add properties, subordinate debt as well a fixed rate core mortgages
• Strong understanding and experience operating within the commercial real estate capital markets.
• Significant knowledge of real estate accounting and investment terminology and principles, and applies that knowledge with a significant amount of expertise.
• Superior negotiation skills and the ability to work effectively in a transactional environment on multiple transactions.
• Ability to think strategically and possess sound problem solving ability.
• Superior knowledge of Real estate valuation principles.
• Proficient in Argus, Excel and PowerPoint.
Desired
• Certified Financial Analyst, Certified Public Accountant or other professional
certification desirable.
• Experience financing major retail projects, and in particular regional malls.
• Well organized and able to balance multiple and diverse priorities while delivering quality product.
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We are an Equal Opportunity/Affirmative Action Employer. We will consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other legally protected status.
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