Senior Associate, Underwriting

Bellwether is a global advisory firm that helps businesses solve their most complex challenges and enhance enterprise value. We specialise in formulating and executing dynamic growth strategies through true partnership with our clients, merging deep industry expertise, advanced analytical capabilities, and best‑in‑class talent. We create value across the business lifecycle, from transaction management to operational transformation, managing and reporting over $40 billion of AUM across a wide range of real‑estate‑related assets and corporate platforms in North America, Europe, and Asia.

Bellwether is privately held with offices in Los Angeles, Newport Beach, Salt Lake City, London and Dallas.

The Associate, Underwriting will be responsible for assisting with all aspects of originating and structuring complex commercial real‑estate investments, including stretch senior mortgages, mezzanine loans, preferred equity, and common equity. This role will take investments from initial inquiry through term sheet and collaborate with the underwriting team through the full due diligence and closing of the investments.

• Lead the analysis, underwriting, and structuring of new investments.
• Size and price investments with structural features.
• Participate in negotiations of term sheets and loan documents.
• Coordinate the due diligence process, including managing third‑party service providers such as appraisers, engineers, consultants, etc., and conduct critical review and analysis of all third‑party reports.
• Identify potential risks and challenges associated with a transaction and provide ideas for solutions and risk mitigants.
• Gather, analyse and interpret real‑estate market data/trends and financial information.
• Prepare and present final due diligence findings to the Investment Committee.
• Conduct comprehensive site inspections, including sale and rent comparable properties.
• Execute and oversee the closing process of transactions.
• Underwrite all asset classes using Excel‑based underwriting models, including complex cash flow, DCF, IRR and fund/partnership waterfall modelling.
• Build Excel models from scratch for ad‑hoc analysis.
• Maintain and analyse budgets, prepare periodic reports that compare budget to actual.
• Lead transition meetings between deal teams and asset management teams to effectively onboard each new asset or financing.
• Maintain strong relationships with external auditors and internal partners.
• People Management Responsibilities:
  Involved with staff selection, interviewing, and training as needed.
• Oversee the day‑to‑day workload and performance of direct reports, providing clear direction and support as needed to achieve work objectives.
• Ensure that direct reports understand their duties and delegated tasks.
• Monitor performance and development of direct reports and provide constructive and timely feedback and coaching.
• Work with direct reports to set individual goals and deadlines and conduct regular performance reviews aligned with performance review processes.
• Handle discipline of employees in accordance with company policy.

• 5–7 years of experience in commercial real estate, with a focus on at least one of the following areas: loan origination, underwriting, commercial real‑estate loan workouts, debt and/or equity asset management.
• Highly proficient in Microsoft Excel and PowerPoint.
• Highly proficient in ARGUS.

• Undergraduate degree in economics, finance, real estate, or a related field is preferred.

• Bellwether seeks entrepreneurial individuals who are highly motivated, mature, and intelligent, with demonstrated excellence in prior endeavours.
• Job Knowledge & Technical Ability
  :
  Experience with portfolio and asset‑level underwriting using advanced financial modelling; strong understanding of property‑level and fund‑level metrics; macro‑trend awareness; exceptional review skills for Excel‑based underwriting models and written work products.
• Initiative & Dependability
  :
  Ability to perform responsibilities independently and proactively, solve problems, and improve processes and/or services. Self‑directed, takes initiative…