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Real Estate Manager

Location:
New York, New York, United States
Salary:
225000
Posted:
February 09, 2018

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PAUL J. FITZSIMMONS MAI 917-***-**** ac4e10@r.postjobfree.com

Paul Fitzsimmons has 20+ years’ experience in the commercial real estate debt markets having held senior positions at buy side and sell side companies. Paul was a Managing Director and head of CMBS Research at Kroll Bond Rating Agency, Inc. having published numerous articles on commercial real estate and the CMBS markets providing commentary on trends and potential market risks. Paul also managed a $4 billion CMBS / CRE debt portfolio at Brookfield and was Global Head of CMBS Surveillance at Credit Suisse and a Director on the structured products research team.

EXPERIENCE

PJF Realty LLC: YTD

Principal – CMBS and CRE Specialist

Performed re-underwriting of CRE assets as well as site inspections for CRE CLOs and CMBS conduits for third parties. Responsibilities included validating all credit assumptions (DSCRs, NOIs, DYs etc.) used on the underlying collateral in the valuation process and overseeing analytics for all CMBS bond purchases. In 2012-2013, performed services at two investment firms for the structured products team to establish pricing on CMBS securities as well as surveillance and credit underwriting procedures for CMBS, CLOs, CDOs, SFRs, ABS and whole loans.

Kroll Bond Rating Agency (KBRA) – New York, NY July 2015 to October 2016

Managing Director – Head of CRE / CMBS Research

Responsibilities include publishing monthly market reports, credit fundamentals, monitoring CMBS trends and credit metrics, credit spreads, year-end outlook, educational presentations and client relationships. As head of research served as point of contact for clients who had specific data requests. Discussed CMBS credit concerns with investors and participated client meetings and presentations. In 2015 was published in CRE Finance World, A Closer Look at Credit Bar-Belling.

Southwest Securities – New York, NY January 2014 to July 2015

CMBS Trading – Strategist and Credit Specialist

Responsibilities include credit support for the trading desk and select clients to evaluate credit sensitive CMBS bonds, discussing collateral issues and market trends. With a strong credit background perform credit and ARGUS cash flow analysis, portfolio reviews, trade recommendations, and re-underwriting of loans. Regularly spoke to rating agencies, servicers and asset managers to better determine loss severities, extensions, modifications on troubled loans to better arrive at price estimates for CMBS securities.

See PJF Realty LLC above 2012-2013

Brookfield Investment Management – New York, NY June 2009 to December 2011

Managing Director – CMBS Portfolio Manager and Strategist

CMBS Portfolio Manager and team leader with a staff of fifteen responsible for CMBS positions of $4 billion and a CRE CDO of $200+ million. Responsibilities for the CMBS platform included being the debt strategist for long and short strategies, trading, and overseeing relative value, due-diligence, establishing underwriting guidelines, surveillance process, asset management. Worked closely with several insurance companies (AXA) to monitor their positions and help to identify impaired securities as well as run potential regulatory stress test scenarios in anticipation of changes in government regulations. Also expanded the investment platform to include Freddie K securities. Oversaw actions of third party managers and servicers on distressed assets.

Credit Suisse - New York, NY August 2002 to May 2009

Director CRE Research and Global Head of CMBS Surveillance

Responsible for publication of surveillance reports, contributions to the CMBS weekly publication and provide presentations regarding potential risks in the real estate markets and potential impact on their holdings. Often interfaced with the trading desk and clients to discuss the underlying collateral and deal structures as well as estimate losses. Surveillance process included reviewed trustee and special servicer reports, 10Q/10K filings on select CRE industry leaders, and held monthly calls with special servicers to discuss work recommendations, timing and potential loss estimates.

Credit Suisse - London, UK 2007

E-CRE / E-CMBS Research and Relationship Manager

Established a European CMBS research and surveillance platform for E-CMBS investors; provided support for the trading desk while developing relationships with servicers and investors. Published surveillance reports, served on the European IRP committee and worked with Hatfield Phillips on investor reporting. Credit Suisse held more than $10 billion in E-CMBS loans and bond positions during 2007.

Oppenheimer Funds - New York, NY May 1999 to July 2002

AVP– Fixed Income Dep’t, Senior CMBS Credit Analyst

Responsible for buy and sell recommendations for $1.5 billion (market value) in CRE / CMBS portfolio, primarily higher yielding credit securities. Created a $125 million B piece portfolio and helped issue a $400 million CDO.

Commercial Real Estate Appraiser – MAI Member of the Appraisal Institute 1984 - 1996

Performed commercial real appraisals on all property site inspections, discounted cash flow analysis, lease and credit analysis on all property types.

EDUCATION

The Real Estate Institute of New York University 1994

Master of Science in Real Estate Finance - Concentration in RE Investments and Finance GPA 3.70

The Business School, Villanova University 1983

Bachelor of Science in Accounting

PROFESSIONAL AFFILIATIONS

Member of the Appraisal Institute – holder of MAI and SRA designations.

ADDITIONAL INFORMATION

Guest speaker at The Insurance Strategic Investment Summit East 2016 – Harvard Club

Guest speaker at Columbia Business School and NYU – Shack Real Estate Institute and CREFC.

Guest speaker at IMN Conferences and CREFC CMBS seminars

Familiar with CMSA servicer files, Trepp and Intex Analytics, ARGUS, CoStar, STR – Smith Travel Research, REIS, Yardi, KCP Portal, Morningstar and Bloomberg applications for CMBS.

Former holder of the Series 7 and 63 licenses.

Former State Certified General Real Estate Appraiser, Certified Tax Assessor, Licensed Salesperson and Certified Real Estate Instructor for State licensing courses.

Former member of CREFC Reporting and Surveillance committees.

Holds a European Passport (Irish Ciitzen)

Villanova University 2011 Varsity Club Hall of Fame Inductee 2011.



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