Asset Management - Commercial Real Estate Debt Underwriter - Associate

JPMorgan Chase · Los Angeles

J.P. Morgan Asset Management – Real Estate Americas is one of the world's largest real estate investment advisors with over $70 billion of real estate assets under management in North America. Given its relationships, reputation, and size, JPMAM Real Estate Americas transacts in an average of $7 billion in combined acquisition and disposition activity annually. JPMAM Real Estate Americas is comprised of more than 250 real estate professionals organized within key functional areas.

Job Summary

As an Associate in the Real Estate Americas Debt Investment Team, you will play an integral role in identifying and underwriting prospective lending opportunities across various property types. You will formulate investment strategies and recommendations, review market research, prepare investment committee memos, and participate in investment committee presentations. You will also develop strong relationships with brokers, banks, borrowers, and industry peers.

Job Responsibilities

Underwrite potential lending opportunities for various funds and investment vehicles
Analyze investments up and down the capital stack, across multiple product types and risk profiles from senior loans to mezzanine investments
Create detailed and complex financial underwriting models for the financing of real estate investments
Assist with modifications and loan restructurings on an as needed basis
Perform property and market research through conversations with brokers, sponsors, market participants, and REA regional teams to understand the key risks of each investment and vet underwriting assumptions.
Assist in execution of deals from underwriting through closing
Conduct site inspections
Participate in the preparation of internal memos, due diligence, site inspections, managing documentation and the investment closing process
Communicate investment recommendations with senior leaders and the investment committee
Collaborate with Asset Management, Valuations, Finance, and other internal stakeholders
Provide support for the continuous asset management of existing investments

Required qualifications, capabilities and skills

3- 5 years of real estate work experience.
Excellent financial modeling skills including high proficiency in Excel; Argus proficiency
Knowledge of fundamental real estate cash flow and valuation analysis for office, industrial, retail, and multifamily sectors
Experience with deal management, including risk identification and structuring to mitigate risk
Ability to multi-task and work effectively on multiple deals with several originators
Strong interpersonal skills to establish and manage relationships with borrowers, mortgage bankers, participating lenders, lawyers, and team members.
Excellent written and verbal communication skills
Highly organized with a keen attention to detail
Strong quantitative and analytical skills
Desire to take initiative and be a team player.

Preferred qualifications, capabilities and skills

Previous experience in real estate, investment banking, private equity, credit, CMBS preferred
Prior responsibility for underwriting preferred.

Preferred location is Los Angeles; however, we will also consider qualified candidates based in Dallas or New York.

JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans

As an Associate in the Real Estate Americas Debt Investment Team, you will play an integral role in identifying and underwriting prospective lending opportunities across various property types.

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