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The professional will have the opportunity to work directly with New York stakeholders to primarily perform day-to-day originations/underwriting related tasks for BREDS funds.
Assist in the production of “Screening Memos” for the BREDS Originations Team. As part of the loan origination process, the Origination Team produces a screening memo that details property level information (photos, maps, property description, rent roll and cash flows), market information (comparable property metrics and location) and financing information (capital stack, debt yield and loan information). The initial goal is for Wipro to participate in the production of screening memos with the potential to participate in the underwriting and approval process for deals that BREDS elects to finance.
Initially the focus will be on multifamily loans originated by the Insurance group, however, over time, the scope may expand to include other asset classes and sources of capital.
Produce annualized and trailing-12 cash flows for potential loan targets under consideration by Originations. This activity is similar to the cash flow spreading done for the Asset Management team. The spreads will ultimately need to be presented to the Origination Team in an excel format. We will work with Wipro on the format of the export and deliverable.
Produce remaining screening memo content. Collect information from the members of the BREDS deal team responsible for the screening memo and deliver the remaining content of the screening memo. Process and form of deliverable TBD.
While the initial function will be to take direction from the BX Origination team members, the aspirational goal is to expand the Wipro scope to include the following:
Extracting market and asset specific statistics from various data sources (for eg: CoStar or similar platforms) for the pipeline deals which are shortlisted for screening or underwriting.
Comparing the key deal metrics which includes Occupancy, Cap Rates, Debt Yield, Cash Flow, NOI etc. of the pipeline deals with existing Blackstone portfolio.
Analyzing property pictures & map for location-based insights, preparing the capital stack (i.e., Equity vs. Debt) and presenting them in an excel and ppt format.
Collecting and preparing sales and rent comparable of the target originations with the market data sourced through broker reports or web-based applications.
Studying the demographics to understand the unit mixes, interpreting all sources of incomes & expenses through review of cash flows, ascertaining vacancy rates & rental income using rent rolls and using NOI to calculate key liquidity ratios i.e., DSCR, DY etc.
Creating investment memorandums with the deal team ahead of investment committee.
Conducting due diligence prior to closing of deal as per closing checklist.
Data input in pipeline tool (i.e., DealPath, Loan Tapes) as and when required.
Master’s degree – Major in Finance or Banking and Capital Markets is a plus
Exceptional quantitative aptitude and skill set with a mastery of Microsoft Office applications
Ability to manage multiple priorities in a fast paced, fluid environment
Previous background with real estate lending required with Debt Underwriting in real estate preferable
CFA designation a plus
Rigorous analytical mindset with a high level of intellectual curiosity and excellent problem-solving skills
Acute focus on attention to detail, accuracy, and data validation
Effective communication skills (listening, verbal, and written)
Excellent interpersonal and teamwork skills
Sound judgment and discretion
Strong initiative, energy and confidence completing assignments with limited supervision
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