Asset Management - Commercial Real Estate Debt Underwriter - Associate

Aumni; Los Angeles (CA); On-site; USD 120,000 - 180,000; Full time

Job summary

JPMorgan Chase & Co. is seeking an Associate in the Real Estate Americas Debt Investment Team in Los Angeles to identify and underwrite prospective lending opportunities across property types.

You will develop investment strategies, draft memos, and present to the investment committee while building relationships with brokers, banks, borrowers, and peers. You will collaborate with cross-functional teams, analyze complex cash flows, model risks, and support asset management of existing

Qualifications

• A minimum of 5 years of real estate work experience.
• Excellent financial modeling skills including high proficiency in Excel; Argus proficiency
• Knowledge of fundamental real estate cash flow and valuation analysis for office, industrial, retail, and multifamily sectors
• Experience with deal management, including risk identification and structuring to mitigate risk
• Ability to multi-task and work effectively on multiple deals with several originators
• Strong interpersonal skills to establish and manage relationships with borrowers, mortgage bankers, participating lenders, lawyers, and team members.
• Excellent written and verbal communication skills
• Highly organized with a keen attention to detail
• Strong quantitative and analytical skills
• Desire to take initiative and be a team player.

Responsibilities

• Underwrite potential lending opportunities for various funds and investment vehicles
• Analyze investments up and down the capital stack, across multiple product types and risk profiles from senior loans to mezzanine investments
• Create detailed and complex financial underwriting models for the financing of real estate investments
• Assist with modifications and loan restructurings on an as needed basis
• Perform property and market research through conversations with brokers, sponsors, market participants, and REA regional teams to understand the key risks of each investment and vet underwriting assumptions.
• Assist in execution of deals from underwriting through closing
• Conduct site inspections
• Participate in the preparation of internal memos, due diligence, site inspections, managing documentation and the investment closing process
• Communicate investment recommendations with senior leaders and the investment committee
• Collaborate with Asset Management, Valuations, Finance, and other internal stakeholders
• Provide support for the continuous asset management of existing investments

Skills

Financial modeling

Excel expertise

Argus proficiency

Real estate analysis

Relationship building

Communication skills

Attention to detail

Tools

Argus

Job description

J.P. Morgan Asset Management – Real Estate Americas is one of the world's largest real estate investment advisors with over $70 billion of real estate assets under management in North America. Given its relationships, reputation, and size, JPMAM Real Estate Americas transacts in an average of $7 billion in combined acquisition and disposition activity annually. JPMAM Real Estate Americas is comprised of more than 250 real estate professionals organized within key functional areas.

Job Summary

As an Associate in the Real Estate Americas Debt Investment Team, you will play an integral role in identifying and underwriting prospective lending opportunities across various property types. You will formulate investment strategies and recommendations, review market research, prepare investment committee memos, and participate in investment committee presentations. You will also develop strong relationships with brokers, banks, borrowers, and industry peers.

Job Responsibilities

• Underwrite potential lending opportunities for various funds and investment vehicles
• Analyze investments up and down the capital stack, across multiple product types and risk profiles from senior loans to mezzanine investments
• Create detailed and complex financial underwriting models for the financing of real estate investments
• Assist with modifications and loan restructurings on an as needed basis
• Perform property and market research through conversations with brokers, sponsors, market participants, and REA regional teams to understand the key risks of each investment and vet underwriting assumptions.
• Assist in execution of deals from underwriting through closing
• Conduct site inspections
• Participate in the preparation of internal memos, due diligence, site inspections, managing documentation and the investment closing process
• Communicate investment recommendations with senior leaders and the investment committee
• Collaborate with Asset Management, Valuations, Finance, and other internal stakeholders
• Provide support for the continuous asset management of existing investments

Required qualifications, capabilities and skills

• A minimum of 5 years of real estate work experience.
• Excellent financial modeling skills including high proficiency in Excel; Argus proficiency
• Knowledge of fundamental real estate cash flow and valuation analysis for office, industrial, retail, and multifamily sectors
• Experience with deal management, including risk identification and structuring to mitigate risk
• Ability to multi-task and work effectively on multiple deals with several originators
• Strong interpersonal skills to establish and manage relationships with borrowers, mortgage bankers, participating lenders, lawyers, and team members.
• Excellent written and verbal communication skills
• Highly organized with a keen attention to detail
• Strong quantitative and analytical skills
• Desire to take initiative and be a team player.

Preferred qualifications, capabilities and skills

• Previous experience in real estate, investment banking, private equity, credit, CMBS preferred
• Prior responsibility for underwriting preferred.

JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans

J.P. Morgan Asset & Wealth Management delivers industry-leading investment management and private banking solutions. Asset Management provides individuals, advisors and institutions with strategies and expertise that span the full spectrum of asset classes through our global network of investment professionals. Wealth Management helps individuals, families and foundations take a more intentional approach to their wealth or finances to better define, focus and realize their goals. As an Associate in the Real Estate Americas Debt Investment Team, you will play an integral role in identifying and underwriting prospective lending opportunities across various property types.