Associate Director, Cpace Underwriting Transaction - New York, United States - TIAA

TIAA

Verified Company

New York, United States

3 weeks ago

Posted by:

Mark Lane

beBee recruiter

Description

Nuveen Green Capital (NGC) is a rapidly growing company with the goal of changing how our country's commercial real estate buildings produce and use energy.

We finance commercial real estate new construction developments, substantial rehab projects, and retrofits of existing buildings with an innovative financing product called C-PACE (Commercial Property Assessed Clean Energy).

Nuveen Green Capital is the nation's leading provider of C-PACE financing.

C-PACE financing funds multi-million dollar energy, water, and resiliency measures within a commercial real estate project's construction budget and is paired with traditional construction, bridge, and permanent financing to complete a project's capital stack.

C-PACE financing is attractively priced construction-to-permanent financing that is growing in popularity among real estate developers and property owners.

The Associate Director, CPACE Transaction Management plays a critical role in all aspects of project development, including the support of loan origination, transaction management, and underwriting.

They will support Nuveen Green Capital as it advances complex commercial projects through to completion. They will also benefit from rapid on-the-job learning, unparalleled strategic input, access to company executives and tremendous growth potential.

Key Responsibilities and Duties

Underwriting

Preparing term sheets for earlystage deals and assisting with presentation materials when needed.
Managing deal structuring negotiations, leading borrowers and senior lenders through how PACE can be a valueadd in development project capital stacks.
Leveraging thirdparty market research, such as CoStar, to support underwriting assumptions.
Identifying transaction risks and tracking exceptions to Nuveen Green Capital's underwriting criteria.
Drafting and presenting credit memos to obtain credit approval, interfacing with Nuveen Green Capital's credit team to troubleshoot underwriting concerns.
Completing loan files accurately and thoroughly.

Transaction Management

Leading a diverse pipeline of C-PACE projects of various complexity, triaging and prioritizing the most impactful next steps for the overall pipeline.
Communicating internally with originations, credit, legal, and asset management teams and externally with clients and partners to keep the deal team on track for key milestones and closing.
Working with mortgage holders (where applicable) to gain consent for C-PACE financing.
Supporting relationships with developers, brokers, mortgage lenders and other industry stakeholders.
Preparing for client meetings, including development of background material and presentations.
Increasing market awareness of Nuveen Green Capital.
Going above and beyond to ensure a positive customer experience, creatively solving challenging problems, and enthusiastically supporting Nuveen Green Capital's mission to be the Lender of Choice for our clients and partners.
Coaches and reviews the work of lower level professionals to ensure highquality and timely completion of projects.

Educational Requirements

University (Degree) Preferred

Work Experience

3+ Years Required; 5+ Years Preferred

Physical Requirements

Physical Requirements: Sedentary Work

Career Level

7IC

Required Qualifications:

Minimum of 3+ Years of commercial real estate construction underwriting experience

Preferred Qualifications:

5+ Years of commercial real estate construction underwriting experience
Masters/MBA related to CRE
Demonstrated interest in sustainability and/or clean energy deployment
Experience with financial structuring of commercial real estate construction/development projects

Related Skills

Accountability, Adaptability, Clean Energy Acumen, Collaboration, Commercial Mindset, Consultative Communication, Continuous Improvement Mindset, Executive Presence, Prioritizes Effectively, Stakeholder Engagement

Anticipated Posting End Date:

Base Pay Range:
$118,100/yr. - $165,000/yr.

Actual base salary may vary based upon, but not limited to, relevant experience, time in role, base salary of internal peers, prior performance, business sector, and geographic location.

In addition to base salary, the competitive compensation package may include, depending on the role, participation in an incentive program linked to performance (for example, annual discretionary incentive programs, non-annual sales incentive plans, or other non-annual incentive plans).

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Company Overview

Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors.

Its affiliates offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies.

For more information about the firm please