VP, Asset Management (Alternatives)

Harbor Group Management Company; New York (NY); On-site; USD 180,000 - 300,000; Full time

Benefits offered by this job

Competitive salaries and bonuses

Medical, dental & vision plans

401(k) with employer matching

Job summary

Harbor Group International, based in New York, seeks a Vice President of Asset Management (Alternatives) to lead a portfolio of debt and alternative investments, including whole loans, mezzanine debt and preferred equity. You will supervise performance, borrower relations, and reporting while collaborating with Transactions, Legal, Investor Relations, and Finance teams.

The role requires 7–10 years in real estate debt asset management, with multifamily experience.

Qualifications

• Bachelor’s degree is required and an MBA or a Master’s in Real Estate or other relevant field is preferred.
• A minimum of 7-10 years of real estate debt asset management experience with experience asset-managing and/or servicing debt portfolios in multiple US markets.
• Multifamily property sector experience is required; commercial property experience preferred.
• Experience with 3rd party providers of financing and preparing, executing and monitoring securitizations is a plus.
• Superior analytical and problem-solving skills, with experience in providing creative and innovative solutions to real-time challenges.
• An investment mindset with a thorough understanding of financial calculations such as NPV, DCF, and IRR.
• Must be well-versed in project proformas and understanding deals, and able to articulate, both orally and in written form, the case for a specific project.
• Proficiency with MS Excel and Word required; proficiency with Argus, MRI, and AI a plus.

Responsibilities

• Monitor the performance of each investment including detailed reviews of monthly financial and operating reports, regular updates with project sponsors/property managers, etc., with a focus on identifying issues early.
• Serve as the primary point of communication with the borrower/sponsor.
• Oversee loan draws and the administration of escrow accounts.
• Review and approve budgets and other items as required by the governing documents.
• Conduct regular site visits and market research to assess the underlying collateral.
• Review monthly reports from trustee/servicers and conduct portfolio reviews with special servicers.
• Participate in the quarterly/annual valuation, audit, and compliance reporting processes.
• Working with the Finance team, ensure that all loan/security payments are received.
• Oversee and lead workouts, loan modifications and restructurings for assigned loans.

Skills

Analytical and problem-solving skills

Investment mindset

Oral and written communication

Education

Bachelor’s degree

MBA or Master’s in Real Estate or related field

Tools

Argus

MRI

AI tools

MS Excel

MS Word

Job description

Harbor Group International (HGI) Is a Leading Global Private Equity Real Estate Investment Manager, With $21 Billion In Assets Under Management. HGI's Vertically Integrated Platform Offers a Broad Range Of Both Direct Real Estate And Credit Strategies Across The Risk/return Spectrum. Vice President, Asset Management (Alternatives) Job Title
Vice President, Asset Management (Alternatives) Location:
On-Site New York, NY Corporate Office (candidates must currently reside in NYC metropolitan area) Position Summary: The Vice President, Asset Management is part of Harbor Group’s Asset Management group, which manages all the company’s direct equity, preferred equity, and debt portfolio investments.
The Vice President will act as an asset manager for a portfolio of debt and alternative investments which include but are not limited to whole loans, mezzanine loans, preferred equity, and pooled mortgage vehicles – such as Freddie Mac KF series bonds. The Asset Manager is responsible for managing all performance aspects of their portfolio including portfolio surveillance and reporting, borrower/sponsor interface, loan compliance and servicing.
The AM will work closely with the Transactions, Legal, and Investor Relations teams on new acquisitions and the oversight of portfolio investments and with the Finance team related to cash management and payment collection. Essential Duties & Responsibilities include the following but are not limited to the job specifications contained herein.
Preferred RequiredAdditional duties or job functions that can be performed safely may be required as deemed necessary by Harbor Group Management Company. Whole Loans, Mezzanine Debt and Preferred Equity:

• Monitor the performance of each investment including detailed reviews of monthly financial and operating reports, regular updates with project sponsors/property managers, etc., with a focus on identifying issues early and being proactive in addressing them.
• Serve as the primary point of communication with the borrower/sponsor.
• Assess and respond to Borrower/Internal approval requests in consultation with the Head of Debt & Alternatives Asset Management and the Special Servicing Committee.
• Oversee loan draws and the administration of escrow accounts.
• Understand and monitor key dates and compliance requirements from all underlying documents including the first mortgage, operating agreements, and specific loan documents.
• Ensure that all reporting deadlines and other compliance requirements are met by the borrower/sponsor and monitor any other performance requirements such as DSCR tests, etc.
• Maintain credit/loan servicing files.
• Review and approve budgets and other items as required by the governing documents.
• Conduct regular site visits and market research to assess the underlying collateral. Pooled Mortgage Securities:
• Review monthly reports received from the trustee and/or servicers, again with a focus on identifying issues early and being proactive in addressing them.
• Conduct regular/monthly loan portfolio reviews with special servicers, with a focus on servicer- and internally designated watchlist loans, large loans, and other loans of interest.
• Assess and respond to approval requests in consultation with the Head of Debt & Alternatives Asset Management and Special Servicing Committee.
• Ensure compliance with agreements between HGI and other parties such as the special servicer and institutional investors. All Assets:
• Participate in the administration and management of securitization initiatives and other credit facilities relating to the whole loan portfolio and other Freddie Mac initiatives.
• Support and participate directly in the preparation of all monthly reporting processes.
• Effectively and professionally communicate with, present to, and respond to questions from large institutions, groups of executives, investors, lenders, and partners.
• Participate directly in the quarterly/annual valuation, audit, and compliance reporting processes.
• Working with the Finance team, ensure that all loan/security payments are received.
• Working with Investor Relations team, make recommendations related to investor distributions.
• Oversee and lead any work outs, loan modifications and restructurings for assigned loans as needed.
• Directly oversee and manage assigned Analyst and/or Associate staff and support the training and development of junior level team members within the group more generally. Qualifications:
• Bachelor’s degree is required and an MBA or a Master’s in Real Estate or other relevant field is preferred.
• A minimum of 7-10 years of real estate debt asset management experience, with demonstrated experience asset-managing and/or servicing debt portfolios in multiple US markets (whole/senior/mezzanine loans and/or real estate securities).
• Multifamily property sector experience is required; commercial property experience preferred.
• Experience with 3rd party providers of financing and preparing, executing and monitoring securitizations is a plus.
• Superior analytical and problem-solving skills, with experience in providing creative and innovative solutions to real-time challenges.
• An investment mindset with a thorough understanding of financial calculations such as NPV, DCF, and IRR.
• Must be well-versed in project proformas and understanding deals, and able to articulate, both orally and in written form, the case for a specific project.
• Proficiency with MS Excel and Word required; proficiency with Argus, MRI, and AI a plus. WHAT WE OFFER:
• Competitive Salaries & Bonuses
• Medical, Dental & Vision Plans
• 401(k) Plan with Employer Matching Contributions
• Paid Time Off (PTO) & 10+ Paid Holidays
• Paid Parental Leave
• Paid Birthday Off (Multifamily)
• Flexible Spending Accounts
• Company-Paid Long-Term Disability
• Company-Paid Life Insurance
• Short-Term Disability
• Health Savings Account with Employer Contributions
• Pre-Tax Commuter Benefit (Corporate)
• Wellness Perks
• FinFit Financial Wellness Program
• Legal Resources
• Employee Apartment Discount
• Employee Referral Program
• Employee Assistance Program
• Tuition Reimbursement
• Insta Pay Eligible
• Volunteer & Community Service Opportunities
• Employee Recognition & Awards Benefit eligibility will be determined at the time of hire. Eligibility for certain benefits may vary based on position, location, hours worked, and other qualifying criteria. Veteran Friendly This pre-employment application will be given every consideration, but its receipt does not imply that the applicant will be employed. Each question should be answered in a complete and accurate manner as no action can be taken on this application until all questions have been answered. Harbor Group Management is proudly an Equal Opportunity Employer EOE/M/F/D/V. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability or protected veteran status.