Director, Capital Markets and Asset Management
Urban Exposure is a property finance and investment business established in 2002, focused on the residential development sector. The Company listed on AIM in May 2018 and has ambitious plans to grow via a dual strategy of real estate-backed lending and asset management. We currently provide Senior, Stretch Senior, and Bridge Finance to high calibre residential developers across the UK, and manage third party capital on behalf of institutional investors, for example KKR in a £165m partnership. Urban Exposure is one of the fastest growing alternative lenders in the residential development space.
This role will lead the Company’s asset management function on managing strategic funding relationships. The role requires a deep understanding of the Company’s lending and asset management products and services, requiring liaison with internal business units (including credit, legal, analytics and asset management), with third party institutional investors, and with external advisors for legal and tax structuring counsel.
- Analyse and structure leveraged real estate deals – Senior, Stretch Senior and Bridge finance – on a variety of real estate asset classes, predominantly residential development projects.
- Work closely with the Credit Management and Business Development team to identify and source funding partners for every deal.
Debt sourcing, structuring, executing
- Advise and guide on salient debt structures, market players, industry pricing models, and macro and micro economic factors that may impact the Company’s funding strategy.
- Manage team to maintain investor database with key criteria and return profiles and who maintain and analyse the deal pipeline and short-, medium- and long-term funding requirements.
- Drive improvements in the Company’s Treasury model to meet all cash commitments and forecast future requirements.
- Develop analytical tools to help evaluate various debt structures with third party capital providers – which may include side-by-side funding, super senior lines, joint ventures, and co-mingled funds.
- Assist in the production of corporate pitch packs.
- Negotiate commercial terms for such arrangements, helping to compile Heads of Terms and executing legal agreements.
- Produce a number of documents to support the fundraising process, including teaser documents, Investment Memoranda, Q&A trackers, due diligence reports, risk registers.
- Liaise with internal and external legal counsel, accounting, overseas administrators and tax counsel to obtain structuring advice, and assist in the design and implementation of complex corporate structures.
Modelling and process discipline
- Lead a team to analyse the loan portfolio and extract key metrics for a variety of stakeholders.
- Ensure best practise in document and process controls through rigid document version control, use of data rooms, and ensuring accurate annotation and notes on all models.
- Project manage several stakeholders including borrowers, internal departments, funders and external professional advisors towards project completion.
- Define requirements and produce analytical models and narratives based on a variety of verbally communicated and written inputs.
- Provide quality assurance / sense checks / arithmetical checks on all financial modelling that the team produces.
- Running sensitivities and providing written summaries of analysis.
- Ownership of the Business Process Model – design, implementation and staff buy-in/utilisation.
- Advise on complex real estate debt structures, cashflow profiles, sources and uses, waterfalls, benchmarks for key inputs, as well as Section 106 and development agreements, procurement methods, typical developer and contractor margins, build rates and programmes, sales velocities, etc.
- Partner with the Finance team to produce analysis required for accounting purposes, management and board packs.
- Critically analyse externally produced financial models, project documentation and due diligence reports (financial, commercial and legal) in order to ascertain inputs for models.
- Interpret models for key investment metrics such as DCF, NPV, IRR, profit, establishing and modelling key sensitivities.
Ongoing relationship and structure management
- Build close collaborative relationships with existing and new funding partners.
- Liaise with funding partners to execute facility drawdown requests as required.
- Design lender reporting packs to required standards and ensure timely delivery.
- Monitor ongoing covenants and obligations and ensure compliance.
- Assist in obtaining ongoing consents, approvals and amends from lenders, producing reforecasting as required.
Key experience and characteristics
- 10 years+ with experience in a leadership position within financial services.
- Deep understanding of debt structures, pricing models and funding strategies.
- Excellent knowledge of Excel in a financial modelling context.
- Strong leadership and collaboration skills with a number of stakeholders.
- High propensity to learn and develop.
- Excellent communication skills, both written and verbal.