Real Estate Syndications...what?
Hi, I am quite new to the forum, but was wondering if anyone could offer some commentary/flavor on a job I will be interviewing for. I was wondering what separates syndicate groups from LevFin or dcm.. Or is syndicate and dcm one in the same? Thank you for your time and any advice would be much appreciated.
Desc: The Real Estate Syndicated Finance group is engaged in originating, structuring and distributing various types of institutional debt products including revolving credit facilities, term financings, acquisition financings, mezzanine loans and construction loans for public and private REITs, REOCs, lodging companies, private developers and investors, and opportunity funds/financial sponsors across various sectors.
Responsibilities:
Responsibilities include, but are not limited to the following:
• Analyze and propose deal structures, draft term sheets and participate in negotiating documents
• Draft offering memoranda, other marketing materials, pitches and presentations
• Coordinate logistics for lender meetings
• Financial statement analysis, financial covenant analysis and financial modeling
• Interact with potential investors to assist them in their due diligence process
• Prepare comparable analyses, fee memos, various internal reports and maintain deal files
• Support senior structuring, syndicate and distribution colleagues in interaction with issuer and investor clients
• Assist in coordinating and launching syndicated transactions
Basically just mortgage lending, don't try to over complicate it. May do some lending as a facility or warehouse for a larger company rather than on individual properties. Looks like it's BofA
Thank you sir, do you know of any resources I could utilize to prepare?/what real estate news I should catch up on?
And yes, it is BofA.
Syndications is arranging financing from other financial institutions and getting a fee to do so. You should understand the real estate market, what common credit metrics would be, etc. You'll be structuring credit facilities, making the pitch materials and working with investors to get their commitment to your agented facility.
I'd say this sounds like a smaller institution only because larger banks bifurcate the structuring and sales role, whereas this looks like a combined role. This is good as knowing how all the pieces of the puzzle work together is important for job growth.
CRE syndications is an interesting beast. Market is getting really hot now and a lot of lenders are pulling back or becoming much more selective in what they commit to.
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