VP, Asset Management (Alternatives)

Vice President, Asset Management (Alternatives)

Job Title: Vice President, Asset Management (Alternatives)

Location: On-Site New York, NY Corporate Office

Position Summary:

The Vice President, Asset Management is part of Harbor Group's Asset Management group, which manages all the company's direct equity, preferred equity, and debt portfolio investments.

The Vice President will act as an asset manager for a portfolio of debt and alternative investments which include but are not limited to whole loans, mezzanine loans, preferred equity, and pooled mortgage vehicles - such as Freddie Mac KF series bonds.

The Asset Manager is responsible for managing all performance aspects of their portfolio including portfolio surveillance and reporting, borrower/sponsor interface, loan compliance and servicing.

The AM will work closely with the Transactions, Legal, and Investor Relations teams on new acquisitions and the oversight of portfolio investments and with the Finance team related to cash management and payment collection.

Essential Duties & Responsibilities include the following but are not limited to the job specifications contained herein.

Additional duties or job functions that can be performed safely may be required as deemed necessary by Harbor Group Management Company.

Whole Loans, Mezzanine Debt and Preferred Equity:



* Monitor the performance of each investment including detailed reviews of monthly financial and operating reports, regular updates with project sponsors/property managers, etc., with a focus on identifying issues early and being proactive in addressing them.


* Serve as the primary point of communication with the borrower/sponsor.


* Assess and respond to Borrower/Internal approval requests in consultation with the Head of Debt & Alternatives Asset Management and the Special Servicing Committee.


* Oversee loan draws and the administration of escrow accounts.


* Understand and monitor key dates and compliance requirements from all underlying documents including the first mortgage, operating agreements, and specific loan documents.


* Ensure that all reporting deadlines and other compliance requirements are met by the borrower/sponsor and monitor any other performance requirements such as DSCR tests, etc.


* Maintain credit/loan servicing files.


* Review and approve budgets and other items as required by the governing documents.


* Conduct regular site visits and market research to assess the underlying collateral.

Pooled Mortgage Securities:



* Review monthly reports received from the trustee and/or servicers, again with a focus on identifying issues early and being proactive in addressing them.


* Conduct regular/monthly loan portfolio reviews with special servicers, with a focus on servicer- and internally designated watchlist loans, large loans, and other loans of interest.


* Assess and respond to approval requests in consultation with the Head of Debt & Alternatives ...