Position Available –

CMBS REO Senior Associate

Summary

The role of the Sr. Associate is to analyze, devise and implement the best strategy for each CMBS REO asset in order to maximize cash flow, limit risk and losses and maximize profits of the bondholders during the holding period. In order to achieve this, the Sr. Associate will need to have a comprehensive understanding of market conditions, property values, real estate trends, value-add possibilities, REMIC restrictions, CMBS REO basics, etc. The initial strategy is formulated independently by the Sr. Associate through the Business Plan process and finalized by the VP and REO Director. Sr. Associate will work closely with the loan workout team in order to understand what collateral is in the REO pipeline in their assigned portfolio and be fully engaged with their loan workout counterpart the day a loan transfers to Special Servicing. Sr. Associate should provide support throughout the time that the loan is in Special Servicing and more importantly during the foreclosure process where needed. Sr. Associate will be asked to take a more active role in cases where a Receiver is appointed or other similar situations where there is a bigger focus on the real estate. Sr. Associate will also participate in the process of underwriting potential B-piece acquisitions and re-underwriting existing loans that are part of Rialto’s existing CMBS portfolios. In order to achieve this, the Sr. Associate will need to have a comprehensive understanding of market conditions, property values, real estate trends, value-add possibilities, etc. Travel is required.

KEY RESPONSIBILITIES

  • Proficient in all areas of real estate management including, but not limited to: financial analysis and modeling, market analysis, due diligence, entitlements, zoning, planning & permitting, construction management, property management and leasing & sales of commercial assets.
  • Manage and direct internal resources, including REO Analysts, to carry out the day to day management of the assets in accordance with the determined asset strategy
  • Identify and coordinate external resources including, but not limited to brokers, property managers, contractors, engineers, consultants, appraisers and attorneys in order to fulfill the ultimate goal of each asset and always in consideration of maximum return and risk reduction
  • Understand all types of real estate product in order to analyze various scenarios and model full life-cycle financial analysis to formulate and determine each asset’s most profitable strategy, in addition to an accurate valuation of each REO asset based on the strategy
  • Fully understand the life-cycle of the CMBS process, nuances and restrictions as they relate to the REMIC and CMBS REO
  • Provide pre-foreclosure support to Loan Workout department where needed
  • Manage receiverships as needed when one is appointed.
  • Ability to underwrite and perform due diligence on all types of real estate product to assist in acquisition efforts of B-pieces and re-underwriting initiatives.
  • Identify value-add propositions through cost management including but not limited to: appealing property tax bases, reducing operating expenses and increasing NOI.
  • Maximizing returns/profits to Trust and bondholders while minimizing losses.
  • Collaborate with Compliance team to track non-recoverability and interaction with Master Servicer as needed.
  • Collaborate with PMCs to effectively control costs and to carry out the determined asset strategy.
  • Research market comparables, sales, leasing transactions, and activity affecting local real estate markets utilizing internal and external resources such as outside counsel, real estate brokers and vendors.
  • Coordinate obtaining appraisals and broker opinions of values.
  • Collaborate with Analysts as needed to formulate projections and cash flows.
  • Be creative in value-add strategies as needed including the possibility of bulk sales of similar asset classes in order to draw interest from bigger, institutional buyers.

EDUCATION AND SKILLS

  • Bachelor’s Degree in Real Estate, Accounting, Finance or related field
  • Minimum of 3-5 years prior commercial real estate experience in a role inclusive of managing assets, underwriting and due diligence experience.
  • Ability to read and comprehend legal documents including Loan Agreements, Title Reports, Purchase and Sale Agreements and commercial real estate leases.
  • Advanced knowledge and application of Microsoft Excel & Word. Argus experience strongly preferred.
  • Excellent written and verbal communication skills.
  • Ability to work effectively in a fast-paced team environment and possess strong ability to independently problem solve.

Working Conditions

While performing the duties of this job, the Associate is occasionally required to stand; walk; sit; use hands to finger, handle, or feel objects, tools or controls; reach with hands and arms; climb stairs; balance; stoop. The Associate must occasionally lift and/or move up to 25 pounds. Evening and/or weekend work may be necessary to meet deadlines. This description outlines the basic tasks and requirements for the position noted. It is not a comprehensive listing of all job duties.
Rialto Capital is committed to the principles of Equal Employment Opportunity. Our policy is to provide equal employment opportunity to all applicants and Associates without regard to race, color, religion, sex, pregnancy, sexual orientation, gender identity or expression, national origin, age (40+), disability, veteran status, genetic information (including family medical history), or any other legally protected status.

Our company uses E-Verify to confirm the employment eligibility of all newly hired employees.

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Job Snapshot

Employment Type:

Full Time

Location:

Miami, FL

Job Type:

Asset Management

Experience:

3+ years
Contact Human Resources

If you think you have what it takes to be a part of a fast-paced, high-performance team of entrepreneurs, and talented real estate investment and asset management experts, we want to hear from you.

For more information about career opportunities or to submit your resume, contact us at:

Core Competencies

Rialto Capital focuses on the following core competencies in both recruitment and Associate development.

Our Total Rewards

Rialto Capital provides an attractive Total Rewards package for our Associates, which includes:

Get to Know us –
About Rialto Capital

Rialto Capital has a growing team of approximately 200 dedicated, highly experienced Associates. 

Our Corporate Office is based in Miami, Florida and we have numerous offices throughout the country. Rialto Capital’s infrastructure is further supported by Stone Point Capital offices located across the United States and Europe.

The term "Rialto Capital" refers to Rialto Management Group, LLC (“RMG”) and its subsidiaries: Rialto Capital Management, LLC, the registered investment advisor ("RCM"), and Rialto Capital Advisors, LLC, the asset manager and special servicer ("RCA"). All information as of 12/31/2020, unless otherwise noted.
Copyright ©2021 Rialto Management Group, LLC All rights reserved.