Intern, Real Estate Finance (Paid)

Founded in 2000, Timbercreek is one of Canada’s leading alternative asset class investment managers, focused on providing structured financing solutions to experienced real estate owners and investors across selectively identified urban centres primarily in Canada, Ireland and the United States. Through active and direct investment, we employ a thematic approach to deliver compelling risk-adjusted returns for our investors and partners, leveraging the diversified expertise and relationships of our highly experienced team to invest capital across a wide range of asset classes. Timbercreek’s team of 50 investment professionals have extensive domain expertise in these markets and combine an entrepreneurial growth focus with institutional risk management. Since 2000, the Timbercreek team has actively sourced, underwritten, funded and managed real estate debt or equity transactions that deployed over $30 billion of capital, financed by public and private Timbercreek investment vehicles, as well as many institutional partners.

About the Position

Timbercreek Capital is seeking an Intern for the Global Credit team with a focus on the analysis and underwriting of commercial real estate loans. Timbercreek’s Global Credit team covers Credit Risk, Asset Management, Funding and Loan Servicing and the Intern will have direct access to all groups along with Timbercreek’s broader Origination, Portfolio Management, Legal & Compliance, Finance & Operations teams. The Intern will have the ability to participate in all stages of the analysis, approval, funding and ongoing administration of commercial loans together with related team meetings and corporate activities. The ideal candidate is a problem solver and creative thinker, self-starter, and most importantly a team player.

Key Responsibilities

Underwriting

• Assist in the review of loan applications on commercial real estate asset including, office, retail, industrial, residential, hotels, land, and development projects.

• Correspond with the borrower, mortgage & real estate brokers, and other industry professionals to validate and substantiate the investment assumptions and gain better understanding of markets and asset classes.

• Review all applicants credit worthiness by analyzing financial statements, credit reports and other financial data relevant to the borrower, guarantors, and the transaction.

• Assist with the detailed analysis of property specific financial statements, leases, and 3rd party reports to complete a preliminary valuation of the property.

• Identify risks and mitigants and provide feedback to the Global Credit team based on preliminary underwriting and market findings.

• Provide potential investment partners with underwriting and transaction materials to support syndication activities.

Investment Summary: Preparation, Due Diligence and Closing

• Under the guidance the senior team leaders, support the completion of investment summaries for submission and approval to Investment Committee, which include disciplined underwriting, thorough market research and accurate transaction representations.

• Ensure all required due diligence material is obtained and reviewed, and is consistent with preliminary underwriting, deal structure, and Investment Committee approval and/or, where applicable, advise the Debt Investment team of any material discrepancies.

• Where required and in conjunction with the Origination team, perform site inspections and meet with borrowers, property managers, appraisers, and other related stakeholders.

• Work with and assist the Global Funding Manager in successfully funding mortgage investments. This involves the collaboration and coordination of internal and external parties to ensure all items are provided to satisfy due diligence checklists, AML/Know Your Client disclosures, Statement of Advance, Insurance and Title information.

Post-Closing, Servicing and On-Going Asset Management

• Assist the Global Credit team with existing and maturing loans. With tasks including gathering information from the borrower or the market for the purposes of re-underwriting the investment in the case of a re-structure, renewal, or annual review.

• Supporting the Asset Management function in the ongoing review and risk monitoring of the loan Portfolio.

• Work with and assist the Global Servicing Manager with setting up of new loan information on the Yardi Mortgage Software program, reviewing and confirming the accuracy of information on the mortgage loan system.

• Assist the Funding and Servicing teams with post-closing follow ups and monitoring as required.

Job Requirements

Education and Experience

• Outstanding academic performance, demonstrated by high grades, and academic involvement.

• Work experience in a financial institution is considered an asset.

• Real estate industry and/or knowledge of mortgage lending practices is considered an asset.

Qualifications

• Strong analytical, strategic-thinking, problem-solving, and decision-making skills.

• Inquisitive and curious to understand the full transaction cycle and related participants.

• Bilingual in both French and English is considered an asset.

• Advanced skills in Excel, PowerPoint and Word.

• Demonstrates a high degree of integrity, diplomacy, discretion, and confidentiality.

• Ability to accurately listen, understand and respond appropriately.

• Ability to work and act independently using good judgment when assessing difficult situations.

• Superior attention to detail and accuracy and excellent follow-up skills.

• Excellent communication (both written and verbal) skills and the poise and professionalism to represent Timbercreek in front of both internal and external parties.

• Strong organizational and time management skills and the ability to work under pressure on multiple transactions concurrently.

• Professional and positive with a “can-do” deal and team focused attitude.

Timbercreek Capital is an inclusive and equal opportunity employer. If you require a disability–related accommodation to participate in the recruitment process, please let us know. We will accommodate your needs as required under applicable legislation. Information related to accommodation requirements will be addressed confidentially. While we appreciate all applications, only those candidates selected for an interview will be contacted. All selected candidates will be asked to complete pre-employment criminal and background checks. Any offer of employment is conditional upon satisfactory results of all applicable checks. We thank all applicants for their submissions.