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V&A Underwriter

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POST DATE 9/6/2016
END DATE 11/5/2016

Cushman & Wakefield, Inc. Charlotte, NC

Company
Cushman & Wakefield, Inc.
Job Classification
Full Time
Company Ref #
R6555-1528
AJE Ref #
576100688
Location
Charlotte, NC
Job Type
Regular

JOB DESCRIPTION

Job Title

V&A Underwriter

Job Description Summary

To complete diligence and underwriting for financial institutions

To learn, experience and contribute to Diligence & Advisory Operations

To gain an understanding of C&W businesses and service lines as well as the commercial real estate and financial services industry

To be an active participant in C&W corporate activities

5 to 10 years of finance or real estate experience preferred

BA/BS degree in Finance or Real Estate preferred

Job Description



Underwriting Tasks:



Property Financial Analysis



* Review historical operating data for three full calendar/fiscal years prior to date of analysis, most recent Trailing-12 months, and current year budget.

* Identify and document operating statement variances and obtain corresponding explanations.

* Prepare Cash Flow Presentation using CREFC chart of accounts.

* Prepare Credit Underwriting based on standard industry / rating agency guidelines, specific lender required assumptions, and due diligence findings.



Tenant/Rent Roll Analysis



* Complete Economic Lease Review for each tenant lease and prepare summary schedule of lease terms.

* Compare Property Rent Roll to Leases. Identify and document Rent Roll/Lease variances and obtain corresponding explanations.

* Construct expense reimbursement model based on actual tenant billings and tenant lease expense reimbursement stipulations.

* Review and compare tenant estoppels against rent roll and tenant leases. Summarize and document variances in Estoppel Reconciliation schedule.

* Differentiate tenant subsidies (Section 8, Medicaid or other) and other income line items from base rent. Compare rents to market and make adjustments for partial month move ins or utility allowances.



Real Estate Taxes & Insurance



* Review real estate tax assessment methodology, tax bill due dates, appeals, abatements, sale triggers, etc.

* Review insurance Acord forms and policies to Client insurance coverage requirements and compare premium invoices to historical operating statements.



Other Property Diligence



* Review historical and budgeted capital expenditures.

* Review historical and budgeted tenant improvements and leasing commissions.

* Determine borrower's cost basis in property.

* Summarize outstanding landlord obligations (free rent, tenant improvements, and leasing commissions).

* For Retail properties, summarize tenant sale, recalculate percentage rent, and determine tenant occupancy costs.



Third-Party Reports Review



* Appraisal - Review appraiser report for compliance and reliability of value as compared to data presented.

* Property Condition Assessment - Review report, compile and document issues.

* Environmental Site Assessment - Review report, compile and document review issues.

* Other Third-Party Reports - If applicable, review Seismic, Phase II Environmental, Zoning, Wood Destroying Organism and O&M reports.



Borrower Analysis



* Review financial statements, personal tax returns, credit reports and real estate schedules.

* Check entities again the OFAC list.

* Perform media searches for negative publicity.



Asset Summary Preparation



* Prepare an Asset Summary Report.

* Identify Strengths / Deal Highlights

* Identify Risks / Mitigants



Additional Duties & Responsibilities:



* Computer proficiency in MS Office, including Excel, Word, PowerPoint and Outlook

* Working knowledge of Argus and other financial/analytical software is an added benefit

* Strong organizational skills including the ability to multi-task and prioritize efficiently

* Ability to work independently on assigned projects

* Ability to work in a team environment with multiple points of contact

* Strong attention to detail

* Must enjoy working with numbers

* Ability to prepare written and conduct oral presentations as well as communicate accurately, effectively, and persuasively

* Knowledge of commercial real estate terms and definitions is preferred

* Knowledge of financial terms and definitions is preferred



Cushman & Wakefield is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status.



Cushman & Wakefield is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status.