Underwriter

Pensam Funding, a private direct real estate lender and affiliate of Pensam Capital, actively lends to experienced real estate sponsors who are seeking flexible capital solutions. Pensam Funding specializes in creative structured finance solutions, including preferred equity, mezzanine loans, senior loans, and B-Piece investments.

Job Description:

• Underwriting new structured finance investments, including preferred equity, mezzanine loans, senior loans, and B-Piece investments
• Leading due diligence investigation process from deal origination through closing
• Overseeing underwriting, due diligence and various special projects, often incorporating different funding structures
• Administering a thorough due diligence review of commercial real estate assets utilizing interdepartmental cooperation and outside consultants
• Preparing internal due diligence reports from data gathered during the diligence process
• Organizing and maintaining due diligence filing systems, file correspondence and other due diligence related records
• Assisting with on-site property due diligence (may include traveling)
• Providing analytical support for cash flow, conducting market research, gathering relevant market data and preparing market surveys by analyzing basic market economic and real estate fundamentals (supply/demand trends) across multiple markets in the United States
• Assisting originator in speaking with borrowers and brokers during the loan screening process, evaluate credit risk of the loan and creditworthiness of sponsors
• Review and synthesize third party reports including appraisals, environmental reports, surveys, title reports, zoning reports, property insurance policies and property condition reports
  
  
• Models
• Creating Excel-based models which present pro forma investment returns, partnership distribution waterfalls and property valuations
• Managing, maintaining and continuously improving financial models and databases used in the forecasting and planning process
  
  
• Presentations
• Preparing investment committee and communication documents supporting recommended investment activities including acquisitions and acquisition financing
• Creating and producing presentations and marketing materials for external and internal purposes for new deals, often under limited time constraints
• Presenting due diligence findings to investment committee
• Assisting with legal, documentation and pre-funding procedures
• General lending / deal team support
  
  

Experience and Qualifications:

• 2-5 years of experience within the commercial real estate finance industry
• Demonstrated knowledge of commercial loan underwriting, including cash flow modeling, asset summary reporting, assessment of third party reports, credit analysis and deal execution
• A concentration and focus in multifamily preferred
• Exceptional analytical, critical thinking and problem-solving skills along with excellent written and verbal communication skills
• Outstanding financial modeling skills, with demonstrated experience in building complex financial models in Excel from scratch
• Direct experience in preparing comprehensive investment memoranda and making investment recommendations
• Ability to work independently with limited supervision and a goal-oriented disposition with a high degree of determination to complete assignments promptly, find solutions, and add value
• Outstanding organizational skills, a detail-oriented nature, and ability to multi-task
• Ability to work efficiently and accurately under pressure and in a fast-paced environment
• Mastery of Excel, PowerPoint, Outlook, and Word