Director, Commercial Equity Underwriting
RealtyShares, San Francisco
Real estate investing made easy. Over $500 million invested across 1,000+ deals
RealtyShares is a leading online real estate investment marketplace where individual and institutional investors can participate in private deals across the country. By infusing technology into the archaic real estate industry, we’re able to connect accredited and institutional investors with pre-vetted real estate companies and operators looking to raise debt and equity capital. We’re giving people the chance to invest in both residential and commercial real estate properties and tap into the multi-trillion dollar real estate industry. To date, we’ve funded more than $300 million across 550 deals in 31 states, and have returned over $59 million of principal to our investors.
We are a venture backed startup and have received funding from 500 Startups, Union Square Ventures, General Catalyst and Menlo Ventures.
The Director of Commercial Underwriting for Equity Investments analyzes asset opportunities submitted by origination teams and works closely with Equity originators in reviewing all aspects of property underwriting, due diligence and closings.
Additional scope of responsibilities includes performing due diligence and gathering information as necessary to make sound investment decisions, performing other duties as necessary to support the goals and objectives of the broader Equity Investments business, including mentoring junior originators and underwriters/analysts, reviewing sponsor partner experience level, financial condition and principals and identification of various risk factors and coordinating guideline exceptions with Chief Risk Officer.
The position requires a thorough knowledge of equity analysis, due diligence and underwriting techniques, market research and resources, partnership waterfall structuring, debt structuring, and understanding complex business plans from value-add to ground-up development projects in all property types and across the capital stack.
The candidate will also have the ability to generate and understand pro forma cash flow analysis, including standard measures of performance such as IRR, cash-on-cash, equity multiples, etc.
The Underwriter will also review and approve offering materials for each deal prior to transmittal to our FINRA broker-dealer, and will assist Equity Operations staff with sponsor interactions to assist efficient transaction closings.
- Review all underwriting efforts from both junior resources (analysts/associates) and equity originators;
- Responsible for setting up underwriting processes to help the business scale;
- Mentor junior resources on underwriting best practices and will ensure that deals originated by deal leads meet our underwriting standards prior to approval;
- Partner with the Chief Risk Officer in ensuring underwriting guidelines are kept up to date and to help inform credit policy around Equity Investments;
- Partner with Asset Management to create feedback loops back to the deal team for underperforming sponsors.
- Work cross functionally with Equity Operations, Compliance etc. to ensure all underwriting processes fulfill requirements of broker/dealer etc.
- Work with product and engineering to prioritize requirements to scale/automate underwriting processes for deal team.
- Assist in additional tasks as needed, including exception tracking and clearing, preparing and/or testing client covenant compliance, and assisting in the preparation and monitoring of ongoing financial and reporting requirements (transition to Asset Management).
- Assist in the closing of equity investments, including reviewing settlement statements, reconciliations and loan documents for accuracy.
- Thorough knowledge of equity analysis, due diligence and underwriting techniques
- Significant Argus experience and proficiency required
- ability to generate and understand pro forma cash flow analysis (ie; IRR, cash-on-cash, etc.)
At RealtyShares, we value diversity and always treat all employees and job applicants based on merit, qualifications, competence, and talent. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. We will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of the San Francisco Fair Chance Ordinance.
About us RealtyShares is a real estate crowdfunding platform. We've created the leading marketplace for real estate investing through which individual and institutional investors can purchase shares in vetted residential and commercial real estate properties for as little as $5,000 from the convenience of a laptop or tablet. These investments are offered through real estate borrowers/sponsors looking for access to more efficient capital than what banks and other private capital sources are able to provide.