Vice President Asset Management
prp advisorsNew York (NY)
Vice President Asset Management
Posted 24 days ago
prp advisorsNew York (NY)
SENIORITY
Manager
About the role
Firm OverviewPRP Advisors is a subsidiary of Balbec Capital LP. Balbec Capital ("Balbec") is an SEC-registered alternative investment manager with offices in the United States and Europe. Since its founding in 2010, Balbec has deployed over $35 billion globally through its funds and investment vehicles, seeking to deliver consistent, risk-adjusted returns to investors and long-term partners across asset-based credit strategies. Balbec is a direct investor in residential and commercial mortgage loans at all stages of performance, mortgage servicing rights, and select consumer and alternative credit assets. Leveraging its proprietary technology and transaction management platform, Balbec efficiently executes highly granular transactions, enabling the firm to serve a broader range of counterparties and generate returns for investors by applying institutional execution standards to inefficient, underserved, or fragmented markets. Balbec's funds rank among the largest issuers of U.S. residential mortgage-backed securities (RMBS) through its PRPM shelf. The firm's investments in agency mortgage servicing rights are sourced via its affiliate, Bungalow Funding. Balbec has invested in over 20 countries, selectively deploying capital into geographically and asset-diverse opportunities that exhibit attractive risk/reward profiles, upside potential, and substantial downside protection. Job Description & Key ResponsibilitiesPRP Advisors is seeking an Asset Management candidate to join our growing Global Commercial Real Estate team. The Asset Management VP will be responsible for contributing to the asset management of Balbec's commercial mortgage platform.
Responsibilities include:
- Oversight of borrower relations and property management
- Collaborate with Balbec CRE team to analyze and execute real estate management strategies
- Oversee property management teams to ensure the operational efficiency of properties
- Conduct due diligence, including review of environmental site assessments, physical inspections, insurance reports, and property tax evaluations
- Oversee and review property improvements, renovations, and maintenance projects.
- Strategic planning and financial analysis for operations associated with Balbec's commercial mortgage platform
- Work closely with team members from Associates to Managing Directors across various disciplines
- Integrate efforts with the broader CRE team to ensure smooth transaction processes
- Review annual operating budgets and develop monthly internal budget-to-actual reports
- Ensure compliance with loan covenants, reserve structures
- Handle all aspects of reviewing draw packages, coordinating associated future funding with accounting teams, coordinating advances from warehouse lenders
- Review and coordination of modifications, inclusive of ordering any reports necessary and working with legal to paper business terms
- Coordinate escrow/bailee agreements with physical doc delivery to appropriate counterparties
- Oversight of management of REO properties
- Qualifications & Experience 7+ years of relevant experience
- Deep understanding of the commercial real estate market
- Strong analytical and strategic planning skills
- Ability to develop and execute asset management strategies
- Effective collaboration skills with team members at all levels
- Capable of managing multiple transactions and adapting to a fluid work environment
Equal Employment OpportunityPRP Advisors is committed to ensuring equal employment opportunities for all employees, including qualified employment applicants. The firm strives to maintain an environment free of discrimination based on race, color, religion, gender, national origin, ancestry, age, disability, genetic information, military or veteran status, marital status, sexual orientation, gender identity, citizenship, or any other protected category or characteristics as defined by federal, state or local laws. This equal employment opportunity policy applies to all employment practices, including but not limited to recruiting, hiring, advertising, promotion, transfer, reductions in force, social and recreational programs, training, employee development, compensation and fringe benefits, discipline and termination.
Disclaimer for External and 3rd Party Recruiters:
Please note that PRP Advisors does not accept unsolicited resumes from external or third-party recruiters. All recruitment-related inquiries and submissions must be directed exclusively to our HR department at careers@balbec.com. We kindly request that recruiters refrain from contacting any other employees within the organization regarding job opportunities. Any unsolicited resumes sent to our employees or submitted outside of the designated HR contact will become the property of PRP Advisors without any obligation to pay referral fees. Thank you for your cooperation.
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