Position: Director of Finance:
Retail and Multifamily-Focused Debt Originations Location:
Greater Baltimore/DC area. Or other nearby regions where candidates could be in-person at the Baltimore Corporate office weekly (2-3 days, Tues-Thurs ideal). Travel:
Travel (beyond Baltimore area) will be required. Estimated average of 2-3 trips per month for site visits, conferences, and relationship building meetings. Role Overview
Oversee CRC's multifamily and retail financing activities including refinance and acquisition activities. A qualified candidate will have the skillset and knowledge to partner with the acquisition teams and asset management teams to originate strategic financings that fit within the business plan of each asset.
The Director of Finance role will require a mixed skill set: analytical and detail oriented, as this role will be responsible for monitoring the existing book, while also building relationships with lenders and capital markets professionals. The role will partner with acquisitions and asset management teams to develop the best asset-level strategy and will then be responsible for timely, efficient execution of the financings. An ideal candidate will have thoughtful, and real-time market insights shared regularly with Investment Committee and deal teams to inform strategic decision making.
The Director of Finance will not have a dedicated analyst but may utilize analyst resources from Acquisitions and Asset Management teams if/as workload requires. In a normal course of business, this position will cover 12-15 financings each year, inclusive of new loans and refinancings.
CRC is a 60+ year-old company with a best-in-class reputation as investors and operators. In recent years, the organization has grown considerably and currently owns roughly 10,000 units throughout the Southeast and eight million square feet of retail nationally. Primary Focus
- Define and execute financing strategies for retail and multifamily assets throughout their lifecycle, alongside the deal teams and asset management teams.
- Maintain lending relationships with CRC's existing lenders and work in tandem with deal teams and members of Investment Committee to build/deepen new relationships
- Drive all stages of the financing process including creation of offering materials, financial analysis, oversight of marketing process, negotiation of term sheets, assessment of debt metrics and other structuring considerations based on asset-specific profile, negotiation of loan documents and oversight of the post-close transition.
- Work with deal teams and SVP of Finance on broker activities including capital markets broker vetting/selection.
- Direct workflows for lender-required approvals, covenant reporting and reserve/funding requests. Be a resource for asset management, accounting, and operations for lender-related correspondence, as necessary.
- Lead regular interdepartmental meetings to ensure the many verticals of the CRC platform have accurate, timely information related to all financing activities. The role will work closely with Retail and Multifamily Acquisitions teams, Commercial Leasing & Property Management, Asset Management, Accounting and Legal.
- Work with SVP of Finance and accounting team members to continue reporting enhancement initiatives for the debt portfolio.
- Lead the reporting and materials preparation for quarterly debt portfolio meetings.
- Provide monthly updates to the Acquisitions, Asset Management and Investment Committee on market conditions and transaction activities to help inform underwritings and strategic decisions.
- Bachelor's degree required. Relevant advanced degree strongly preferred
- 7-10+ years of experience in capital markets and debt origination
- Knowledge of the capital markets, with existing relationships with lenders
- Advanced financial modeling skills (Excel & Argus)
- Autonomous, self-motivated and relationship oriented.
- Strategic and driven - taking initiative and setting ambitious goals for themselves.
- Exceptional written and verbal communication skills - there will be considerable requirements for internal and written communications.