Job Summary: The Underwriter evaluates and structures real estate equity investments and assesses the risks and mitigants associated with such.

Essential Duties and Responsibilities:

  1. Underwrites and closes real estate equity investments.
  2. Prepares routine to moderately complex property level pro forma cash flow statements and financial models.
  3. Assesses the borrower’s and guarantor’s financial statements including review and analysis of financial statements, real estate schedules, tax returns and cash flow statements.
  4. Assesses the financial strength and capacity of the development team.
  5. Assesses the real estate market where the proposed investment will be located.
  6. Assesses validity of operating expense assumptions by using comparable data from Cinnaire portfolio, appraisal, and data provided by the developer and/or management agent.
  7. Identifies and communicates factors of the proposed investment that differ from standard underwriting criteria.
  8. Performs site due diligence visits.
  9. Prepares term sheets, letters of intent and commitment letters for potential real estate investments.
  10. Identifies potential structural enhancements in order to improve credit and reduce risk.
  11. Updates investment information in data management system.
  12. Prepares investment reports and presents the proposed investment to the investment committee.
  13. Coordinates the preparation of the partnership agreement with Cinnaire counsel.
  14. Negotiates the terms of the investment with the developer as reflected in the commitment letter and final partnership agreement.
  15. Oversees the collection and review of due diligence documents with Cinnaire counsel and Cinnaire Closing Coordinator, and reviewing pertinent documents affecting investment feasibility.
  16. Transitions investment to asset management staff after closing.
  17. Participates in orientation meetings, as requested, on closed and transitioned investments.
  18. Maintains business relationships with investors, CDFIs, developers, accountants, attorneys, consultants, property managers, housing finance agencies, lenders, and any other related parties.

Qualifications and Skills:

  • Bachelor Degree in Finance, Accounting, Economics, Business or Real Estate/Urban Planning. Course work in real estate preferred.
  • Ability to model financial investments including expected cash flow and return on investment.
  • Strong PC (Excel, Word, Database) skills are required.
  • Previous experience with loan underwriting and/or structuring real estate transactions.

Key Competencies:

  • Analysis to Synthesis: Interpreting data and information from multiple sources and translating into coherent messages that inform decision.
  • Intellectual Agility: Flexing and adapting thinking skills to meet the needs of different situations and circumstances; not limiting problem solving to one approach or methodology.
  • Perseverance: Accepting uncertainty by remaining focused and engaged on assignments; looking for plausible solutions to different problems.
  • Insight to Action: Acting on conviction and advancing from concept towards a goal; drawing upon knowledge and professional judgment to orchestrate the steps required to get results.

Reporting Relationship: Reports to Executive Vice President, Underwriting & Credit Risk

Supervisory Relationship: None

Physical Requirements

  • Ability to work on a computer for extended periods of time.

Travel Required: 20%