Sound Point Capital Management, LP
VP - Commercial Real Estate - Asset Management
Sound Point Capital Management, LP, New York, New York, us, 10261
Commercial Real Estate - Asset Management – Vice President
Sound Point Capital Management, a credit‑oriented alternative asset manager overseeing approximately $43 billion AUM, is seeking an Asset Management VP to join its Commercial Real Estate team. This opportunity focuses on the origination and acquisition of transitional debt investments throughout the United States. The team invests in fixed and floating rate loans for all major asset classes (multifamily, office, mixed‑use, industrial, hotel & retail). We are building a multi‑asset‑class CRE loan portfolio of first mortgages and subordinate debt positions focused on generating attractive risk‑adjusted returns.
The candidate will proactively assist the Asset Management team in managing a portfolio of large, highly structured, complex, transitional commercial real‑estate loans ranging from $25MM to $75MM. The role requires frequent borrower interaction and extensive collaboration with portfolio managers, third‑party asset managers, originators, closers, co‑lenders, and loan servicers. The position will be located in our New York office with limited remote work.
Responsibilities
Provide ongoing loan surveillance, including evaluation and tracking of key debt metrics, property performance, market and sub‑market trends, guarantor financial performance, review and approval of annual operating budgets, financial reporting, cash management.
Compile the Quarterly Asset Review (QAR) report for the Investment Committee, including:
Attend borrower update calls and compile detailed notes on each asset performance within the QAR document.
Review IC memos for accuracy and note performance tracking on QARs.
Assist with LSR underwriting revisions for accuracy.
Review Costar/Axiometrics, etc. to update QAR market/sub‑market information.
Monitor and document within the QAR the progress of borrower business plans from loan closing through takeout.
Draft clear and concise memorandums for modifications, future advances, waivers, extensions, collateral releases, loan paydowns or payoffs, lease approvals, and consent requests requiring Investment Committee approval.
Partner with the Asset Management Team to assist/review borrower draw requests, major lease reviews and approvals, and other portfolio monitoring initiatives.
Compile settlement statements for extensions, modifications, etc., in preparation for closing.
Coordinate with third‑party asset managers (Trimont & SITUS) to obtain all necessary closing conditions.
Provide document requests to Third‑Party Asset Managers, including:
KYC information
Missing document requests
Assist with REO‑related tasks and approvals, including but not limited to:
REO Operating Account Opening
Engaging third‑party reports
Interviewing and recommending replacement property managers
Interviewing and recommending replacement leasing brokers
Prepare and review for accuracy REO business plans as needed by the Asset Management Team.
Update internal share file for third‑party asset managers with critical to board documents once a new deal has closed.
Work on special projects as necessary; prepare internal presentations for the asset management team or senior management.
Coordinate with and present to investment partners in answering questions and providing updates on the portfolio, including:
Payoff updates
Modification & extension updates
Loan maturity updates
Remit report resolutions
Property business plan updates and underwriting
Assist in managing a team of four CRE AM professionals.
Experience and Qualifications
5–10 years of experience in commercial real‑estate equity or debt with asset management, underwriting or valuation experience.
Ability to work effectively with minimal supervision, handle multiple tasks in a changing‑priority environment under tight deadlines.
Proactivity in anticipating portfolio problems and resolving them before they occur.
Strong technical writing and organizational, interpersonal, and communication skills.
Financial and quantitative acumen to make well‑reasoned, decisive recommendations to senior management and understanding of ESG landscape related to CRE debt.
Problem‑solving ability and independent judgment with initiative and accuracy.
Understanding of complex debt structures and cash‑flow waterfalls.
Interpersonal skills to solidify and grow relationships with borrowers and brokers.
Proficiency in Microsoft Office (Excel, Word), and web‑based applications; knowledge of Argus and Tableau a plus.
Hybrid schedule is Monday–Thursday in office with the option to work remotely on Friday. This is subject to change.
Equal Opportunity Statement: We are an equal‑opportunity employer and value diversity. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
(Note – This position is exempt and would not qualify for overtime pay.)
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The candidate will proactively assist the Asset Management team in managing a portfolio of large, highly structured, complex, transitional commercial real‑estate loans ranging from $25MM to $75MM. The role requires frequent borrower interaction and extensive collaboration with portfolio managers, third‑party asset managers, originators, closers, co‑lenders, and loan servicers. The position will be located in our New York office with limited remote work.
Responsibilities
Provide ongoing loan surveillance, including evaluation and tracking of key debt metrics, property performance, market and sub‑market trends, guarantor financial performance, review and approval of annual operating budgets, financial reporting, cash management.
Compile the Quarterly Asset Review (QAR) report for the Investment Committee, including:
Attend borrower update calls and compile detailed notes on each asset performance within the QAR document.
Review IC memos for accuracy and note performance tracking on QARs.
Assist with LSR underwriting revisions for accuracy.
Review Costar/Axiometrics, etc. to update QAR market/sub‑market information.
Monitor and document within the QAR the progress of borrower business plans from loan closing through takeout.
Draft clear and concise memorandums for modifications, future advances, waivers, extensions, collateral releases, loan paydowns or payoffs, lease approvals, and consent requests requiring Investment Committee approval.
Partner with the Asset Management Team to assist/review borrower draw requests, major lease reviews and approvals, and other portfolio monitoring initiatives.
Compile settlement statements for extensions, modifications, etc., in preparation for closing.
Coordinate with third‑party asset managers (Trimont & SITUS) to obtain all necessary closing conditions.
Provide document requests to Third‑Party Asset Managers, including:
KYC information
Missing document requests
Assist with REO‑related tasks and approvals, including but not limited to:
REO Operating Account Opening
Engaging third‑party reports
Interviewing and recommending replacement property managers
Interviewing and recommending replacement leasing brokers
Prepare and review for accuracy REO business plans as needed by the Asset Management Team.
Update internal share file for third‑party asset managers with critical to board documents once a new deal has closed.
Work on special projects as necessary; prepare internal presentations for the asset management team or senior management.
Coordinate with and present to investment partners in answering questions and providing updates on the portfolio, including:
Payoff updates
Modification & extension updates
Loan maturity updates
Remit report resolutions
Property business plan updates and underwriting
Assist in managing a team of four CRE AM professionals.
Experience and Qualifications
5–10 years of experience in commercial real‑estate equity or debt with asset management, underwriting or valuation experience.
Ability to work effectively with minimal supervision, handle multiple tasks in a changing‑priority environment under tight deadlines.
Proactivity in anticipating portfolio problems and resolving them before they occur.
Strong technical writing and organizational, interpersonal, and communication skills.
Financial and quantitative acumen to make well‑reasoned, decisive recommendations to senior management and understanding of ESG landscape related to CRE debt.
Problem‑solving ability and independent judgment with initiative and accuracy.
Understanding of complex debt structures and cash‑flow waterfalls.
Interpersonal skills to solidify and grow relationships with borrowers and brokers.
Proficiency in Microsoft Office (Excel, Word), and web‑based applications; knowledge of Argus and Tableau a plus.
Hybrid schedule is Monday–Thursday in office with the option to work remotely on Friday. This is subject to change.
Equal Opportunity Statement: We are an equal‑opportunity employer and value diversity. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
(Note – This position is exempt and would not qualify for overtime pay.)
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