Commercial Real Estate Associate

Wells Fargo
London, United Kingdom
12 Aug 2022
10 Sep 2022
Industry Sector
Finance - General
Employment Type
Full Time
About this role:

The Wells Fargo CRE division sits within the Corporate & Investment Bank (CIB). CRE has an established record of consistent strong performance and has a leading market share in the US commercial real estate market. In EMEA, a team of circa 45 people are focused solely on real estate and the business has established itself as one of the premier providers of finance for the UK and Irish institutional markets.

The EMEA team use innovative and often complex debt structures to support investors in the UK and Irish markets. The lending mandate is broad with the teams focusing across core sectors including office, retail, industrial/logistics as well as operational assets such as PRS/BTR, purpose built student accommodation and social housing. A Relationship Manager will gain exposure to a wide spectrum of asset classes and lending structures including both development and investment lending. Deals sizes range from £20 million upwards and often with large underwritten and/or hold positions. Our client base covers all key market participants, both UK, European and global, including REITs, institutional fund managers, private equity and sovereign wealth funds and large private property companies.

In this role, you will:
  • To assist with the underwriting, negotiating and structuring of loans for investment or development opportunities on single assets, portfolios or fund/REIT level finance;
  • Portfolio management of an assigned portfolio of loans, including producing quarterly reporting on loan risk metrics for presentation to the CRE group as well as all ongoing management with the client and also internally within Wells Fargo.
  • Running and reviewing cash flow models to scrutinize income, debt serviceability and other key loan metrics;
  • Evaluating creditworthiness of counterparties, tenant credit strength and property fundamentals;
  • Running internal pricing or credit rating models, as applicable;
  • Preparing and presenting memorandums and presentations for credit teams, senior CRE management and internal/external stakeholders;
  • Working with senior Relationship Managers to lead the loan documentation negotiation process (via external counsel) to ensure the credit approved terms are correctly reflected and negotiated
  • Managing all parties involved in the deal closing process to ensure effective loan execution and ensuring that all internal requirements are met including in relation to processes and regulations;
  • Working with team members in the wider EMEA CRE team on transactions and special projects where applicable
Required Qualifications, International:
  • Experience in underwriting and executing transactions in the real estate finance market, with some knowledge of appropriate loan structuring to appropriately mitigate risk in transactions. An understanding of credit risk within the CRE market with an ability to apply sound judgement when approaching transactional risk assessment and management.
  • Strong understanding of the UK real estate market considered essential, with wider European experience viewed favourably
  • Demonstrable knowledge of property fundamentals across multiple CRE asset classes.
  • Previous experience of executing and managing development loans across CRE sectors viewed favourably
  • An understanding of LMA standard legal documentation in the UK market and an understanding of the key clauses for amendment and negotiation. Strong cash flow, credit analysis & modelling skills
  • Experience across real estate lending products (both on and off balance sheet) considered favourably
  • Excellent client relationship skills, professional persona and an ability to successfully interact with clients as well as internal teams
  • Self-motivation, an ability to take initiative on transactions and activities whilst demonstrating a clear team ethic;
  • Language skills viewed favourably but not essential.
  • A degree or post graduate study
We Value Diversity

At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.

Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
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