Job Description

VP of Special Situations/Asset Management

PRIMARY RESPONSIBILITIES:

The Vice President in the Special Situations team is responsible for supporting the Head of Special Situations with all aspects of Prime’s Special Situations investment management process with a primary focus on asset management and business plan execution. Special Situations investments are expected to include, but not be limited to, acquiring non-performing and sub-performing commercial real estate debt, providing rescue and runway capital in distressed or dislocated scenarios as well as acquiring and operating underperforming REO. The Vice President in the Special Situations team will also supervise or co-supervise the associates and analysts on the Special Situations team.

 

Responsibilities will include:

  • Assist the Head of Special Situations with all aspects of investment management;
  • Collaborate with investment underwriters to diligence and close new investments.
  • Work closely with internal and external transaction parties to seamlessly onboard investments.
  • Establish and grow market familiarity;
  • Develop and maintain a tracking system to monitor the portfolio.
  • Directly manage a range of debt and equity investments to measure and proactively reduce risk and strengthen asset performance;
  • Identify value-add opportunities and formulate/implement measures to improve investment outcomes;
  • Maintain working models to periodically reforecast investment performance.
  • Work closely with fund management and capital markets counterparts to optimize capital management and investor returns.
  • Organize and lead periodic portfolio reviews with Investment Committee.
  • Coordinate with in house and outside counsel to enforce agreements and negotiate workouts;
  • Source, vet and manage third party service providers.
  • Manage real estate owned and drive operational efficiencies;
  • Develop budgets and oversee capital improvement programs;
  • Help the Head of Special Situations build relationships and develop good rapport with counterparties;
  • Liaise with Legal, Capital Markets, Accounting and Compliance as needed; and
  • Perform other duties as assigned or requested.

 

QUALIFICATIONS:

  • Bachelor’s degree (BS/BA);
  • 5 or more years of relevant working experience;
  • Knowledge of commercial real estate valuation, credit underwriting and market analysis;
  • Understanding the real estate investment and operating business;
  • Principal experience managing non-performing loans and REO
  • Hands on experience with multiple property types such as office, multifamily, retail and lodging;
  • Excellent Excel skills;
  • Extensive familiarity with CRE loan documents, legal jurisdictions and enforcement conditions;, management and franchise agreements, REA/CC&R’s, and construction contracts.
  • Organization skills in order to handle wide ranging portfolio of assets simultaneously; and
  • Excellent written and verbal communication skills

 

  • Customer focus and team player;
  • Problem solving attitude;
  • Adherence to procedures; and
  • Commercial attitude.

 

The position offers an exciting opportunity to join a progressive, growth-oriented organization with a genuinely enjoyable work environment.  Compensation will be competitive and will include exceptional benefits which include comprehensive medical, dental, vision, RX, FSA, company-paid holidays, personal days, and vacation.

 

At Prime Finance, we don’t just accept difference — we celebrate it, we support it, and we thrive on it for the benefit of our employees, our business, and our community. Prime Finance is proud to be an equal opportunity workplace.

 

Job Type

Full Time

Location

Chicago, IL

Reference #3017

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