Director, Real Estate Loan Operations

The Role

You will be an integral member of a team focused on generating high yielding, subordinate debt investments secured by Commercial Real Estate. The Real Estate Debt Team in Fidelity’s High Income & Alternatives Division is seeking a Real Estate Loan Analyst.  The position works closely with senior members of the team and external parties including borrowers, brokers, senior lenders, and legal counsel to facilitate deal underwriting, closing and ongoing asset management. As a key member of the team you will be participating in all aspects of commercial real estate lending from the front-end review of loan opportunities through the closing process and ongoing management of a growing loan portfolio. 

The Expertise and Skills You Bring

• Minimum of 6 to 8 years of financial services experience, preferably in the commercial real estate industry

• Experience with underwriting and closing commercial real estate loans is preferred.  

• BA / BS degree required, advanced degree a plus.   Major or concentration in legal, finance, business administration, or accounting preferred but not required.

• Experience with Microsoft Excel

• Excellent organizational and communication skills. Ability to multi-task and work independently.

• Strong people interaction and communication skills

• Outstanding critical thinking, problem solving, decision-making, and analytical skills

• Proven ability, flexibility, and resourcefulness to manage multiple high-priority deliverables in a deadline driven environment

• Ability to travel occasionally

• Reviewing inbound transaction Offering Memorandums and populating the team’s spreadsheets with relevant property metrics and market data.  Analyzing market data related to loan requests, using databases like CoStar and others. 

• Preparing underwriting models prior to handing them off to senior members of the team.

• Interacting with borrowers and first mortgage lenders to obtain and verify property due diligence materials including appraisals, environmental reports, property condition reports, general references, etc.

• Managing the loan closing process and closing checklist to ensure all property level due diligence and loan documentation items are received.

• Oversight of the disbursement of loan proceeds which includes coordinating with accounting department to prepare wires; reviewing settlement statements; and facilitating the payment of expenses incurred in connection with the transaction (e.g. legal and third-party expenses).

• Provide ongoing asset management for the existing portfolio largely concentrated in mezzanine loans. The current portfolio includes financing for assets ranging from ground up construction to stabilized properties. Assets in the portfolio are located in markets throughout the U.S.

• Primary asset management duties include updating financials models with monthly/quarterly property level financial information including profit and loss statements and rent rolls. Updating internally prepared estimates of property values based on current financial information. Interacting with internal and external parties for annual audits.  Flagging and escalating any potential issues to senior members of the team.

The Team

Fidelity’s High Income & Alternatives Division is responsible for managing the firm’s diversified high yield, leveraged loan and emerging market debt mutual funds, institutional accounts, and sub-portfolios.  In addition, the group manages funds focused on the equities of leveraged companies.  Assets under management total approximately $100 billion. The division is made up of a diverse team of Investment Professionals, Traders, and Operational and Administrative Support staff.