K-Star Credit Asset Manager

Job Description

REAL ESTATE CREDIT OVERVIEW

KKR Real Estate Credit was formed in January 2015 to invest in real estate credit products and complement KKR Real Estate’s private equity platforms. Within KKR Real Estate Credit, we seek opportunities where we have a sourcing, underwriting or execution advantage by leveraging KKR’s brand, industry knowledge and relationships. KKR Real Estate Credit currently invests through six separately capitalized vehicles across our Direct Lending and Securities portfolios and consists of 50+ dedicated professionals based in New York, San Francisco, Houston and Dallas.

KKR has developed a dedicated services platform, K-Star Asset Management LLC (“K-Star”), to support asset management, loan origination, securities investing, risk management and client experience for its real estate credit franchise as it continues to scale. The K-Star team will include industry specialists to oversee special servicing, stabilized loan asset management, transitional loan asset management, and investment oversight across KKR’s real estate credit portfolio.

POSITION OVERVIEW

K-Star is seeking intelligent, analytical, and proactive asset managers to join the Credit Asset Management team. The asset manager will be responsible for the oversight and reporting on a portfolio of loans secured by stabilized, light to high transitional and possibly construction projects located throughout the United States.  The qualified candidate will also be expected to participate in special projects and assignments related to the growth of the platform. With a goal of process development and execution, this candidate must be an exceptional communicator and have the ability to build strong partnerships across the various KKR businesses, including the Firm’s real estate credit originations, legal, finance, and asset management teams.

ROLE AND RESPONSIBILITIES

• Analyze and evaluate draw requests, lease approvals, loan modifications and various other borrower requests and periodic underwriting of collateral
• Monitor portfolio performance for potential adverse credit issues and trend analyses
• Analyze and utilize monthly and/or quarterly financial statements and rent rolls with comparison against underwriting and budgets
• Monitor national, regional and local market dynamics to assess tenant credit risks and concentrations
• Prepare and present asset performance reports to company management and other investor parties
• Collaborate with construction consultants and other members of the project team to monitor schedules, budgets, leasing and business plans in real time
• Interpret complex loan documents to confirm and track satisfaction of relevant loan terms and covenants
• Work closely with investment team on relationship management of transaction sponsor
• Partner with internal and external legal counsel when evaluating legal issues and documenting various transactions arising from the asset management of the portfolio
• Manage special projects, including implementation of new technologies to support K-Star’s platform
• Travel on an as needed basis

QUALIFICATIONS

• Bachelor’s degree or equivalent experience preferably in a related course of study
• Four to eight years of related work experience in asset management of loans secured by commercial real estate
• Fundamental knowledge of commercial real estate, fixed income, and general financial concepts
• Superior analytical and financial modeling skills
• Excellent organizational, verbal, and communication skills
• Exceptional attention to detail and thoroughness is required to ensure accuracy in all data and work product
• High proficiency with Microsoft Excel, Word, PowerPoint and Outlook
• Special Servicing, Argus, construction loan or development experience a plus
• Team Player with collaborative and strong relationship building skills with the ability to work independently in a way that reflects the company’s culture and core values
• Skilled at developing and maintaining personal, social and business relationships representing KKR in a professional manner