VP Special Situations - Investing & Asset Management

Prime Finance is seeking two Vice Presidents of Special Situations, for our Chicago, IL office:

Vice President, Special Situations - Investing
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 process with a primary focus on analysis and underwriting of various CRE related investment opportunities as well as completion of due diligence, closing and management of Special Situations investments made by Prime. 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 and 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 CMBS Investments team.

Responsibilities will include:

• Assist the Head of Special Situations with all aspects of investment opportunity review, due diligence, closing and management;
• Develop and maintain a tracking system to monitor the opportunity pipeline;
• Establish process for deal flow management and orderly review;
• Deliver thoughtful and concise opportunity previews to senior management on a regular basis;
• Conduct and coordinate with third party vendors on due diligence, data collection and credit/underwriting review;
• Build customized, dynamic financial models for a range of investment outcomes;
• Prepare comprehensive investment memorandums;
• Assist Head of Special Situations in preparation for and conducting of investment committee presentations and other periodic portfolio reviews;
• Coordinate with vendors, attorneys on issue resolution;
• Collaborate with Asset Management teammates to onboard and transition new investments;
• 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;

Hands on experience with multiple property types such as office, multifamily, retail and lodging;

Excellent Excel skills; Argus certified;

Familiarity with various CRE lease structures, management and franchise agreements, REA/CC&R s, and construction contracts;

Experience with development projects and entitlements is a plus but not necessarily required;

Organization skills in order to handle multiple acquisitions and investments simultaneously;
Excellent written and verbal communication skills;
Customer focus and team player;
Problem solving attitude;
Adherence to procedures; and
Commercial attitude.

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VP Special Situations, Asset Management

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;
• Excellent written and verbal communication skills;
• Customer focus and team player;
• Problem solving attitude;
• Adherence to procedures; and
• Commercial attitude.

Both positions 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.