Real Estate Management

Jason M. Shaffer

*** *********** **** * *******, NJ 08730 t Cell: 732-***-****

*****@*******.***

SUMMARY

Highly analytical with excellent written and oral communication skills. Experienced in providing due diligence and underwriting analysis for both Commercial Real Estate Transactions and mortgages/loans. Additional skills include detailed financial analysis, research, memo preparation, credit analysis, valuation, cash flow projections, and reporting with a focus in commercial real estate.

Due Diligence

NPV/IRR

ARGUS/Excel Modeling

Acquisitions/Dispositions

Investment Yields

Real Estate Valuation

Financial Reporting

Contract Negotiation

M&A Target Evaluation

Underwriting

Lease Analysis

Customer Research/Analysis

Cash Flow Analysis

Bank operational reviews

Quarterly Reporting

Project Management

Credit Analysis

Real Estate Loan Evaluation

WORK EXPERIENCE

FEDERAL HOME LOAN BANK OF NEW YORK (FHLBNY), Jersey City, NJ 2009 – Current

Lead Commercial Loan Analyst (Promoted from Senior Commercial Loan Analyst and Commercial Loan Analyst)

Performed all functions related to the evaluation of customer pledged commercial real estate collateral, including the analysis (underwriting) of the underlying commercial real estate and evaluation of the clients’ origination and asset management practices. Real estate valuations ranged from $250,000 to $800,000,000, located in various markets, and included the major property-types: Multi-family, Warehouse, Hotel, Retail, and Office as well as more non-traditional property-types. Evaluations occurred at the clients’ location, requiring frequent interaction with C-Level officers of the organization at a high professional level. The findings of the On-Site Review, along with recommendations, were reported to senior management both in written and oral format.

Developed commercial real estate underwriting guidelines to standardize procedures within the department. The standardization led to increased efficiency and accuracy in regards to the evaluation of commercial real estate mortgages.

Manager and integral member of the design, testing, and implementation team that transitioned the analysis and valuation of commercial real estate mortgages from a paper-based process to a computerized one. The new process standardized and improved the underlying business processes, decision points and evaluation of mortgages, while increased the credibility of the FHLBNY to its customers, examiners, and auditors. The new computerized process also increased the efficiency of the On-Site Review by approximately 20%.

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PROLOGIS, Cranbury, NJ and Denver, CO 2000 – 2008

Associate - Global Solutions (Major Account Management), Cranbury, NJ 2004 – 2008

Created Business processes to measure and report on the growth and profitability of the organization’s largest customers, enabling the organization to efficiently allocate its resources.

Managed the short-term lease transactions for a major retailer with an average of 20 transactions a year resulting in a $600K annual positive impact to the budget. Negotiated with the client to create a standard lease agreement that was used to reduce turn-around time by several days.

Managed a global CRM (Customer Relationship Management) implementation. Directed the project through evaluation, selection, implementation, maintenance, and upgrade stages. The global implementation led to increased internal and external communication enabling the organization to leverage customer relationships and increase profitability.

Managed CRM training for over 300 employees, including senior executives, and designed a “Train the Trainer” program. The “Train the Trainer” program enabled the company to provide training at a local level, which led to reduced travel costs and provided better service.

Streamlined and standardized the response to RFP business process which cut overhead costs and improved turnaround time by several days.

Provided on-going due diligence and asset underwriting support to the Asset Investment team.

Jason M. Shaffer Page Two

PROLOGIS (Continued)

Senior Financial Analyst (Due Diligence/Acquisitions), Denver, CO 2000 – 2004

Provided Underwriting and Due Diligence for real estate acquisitions and dispositions including cash-flow analysis, contract negotiation, lease analysis, environmental and structural review, credit analysis, survey, title review, tenant interviews, and expense and income analysis.

Computed NPV, IRR, and investment yields of targeted assets, using Argus and Excel models that defined the profitability of real estate investments.

Authored Investment Proposals used by the Senior Investment Committee to evaluate and approve asset transactions.

Reported to the Board of Trustees on tracked investment monies spent that ensured by-law compliance.

Evaluated credit and determined financial strength of prospective and current tenants that led to reduced credit risk

Assembled quarterly contributions (dispositions) of industrial real estate assets to joint-venture partners or other fund investment vehicles including investment packages, enabling the company to recycle capital and reach profitability goals.

Provided Underwriting, Due Diligence, and closed on acquisitions of industrial real estate companies that strengthened the company’s portfolio of assets and increased market share.

AMERICAN DATA SERVICES, Denver, CO 1996 – 2000

Manager-Mutual Fund Accounting 1998 – 2000

Direct supervision of five mutual fund accountants, indirect supervision of a staff of twenty.

Hired and trained new employees.

Prepared financial statements, annual reports, and reviewed mutual funds to ensure compliance with SEC regulations for several major mutual fund families, including global market mutual funds that resulted in 100% compliance with SEC regulations and the funds’ prospectus.

Created, reviewed, and audited the mutual fund expense budgets. All of the expense budgets were on target which eliminated the negative impact of a NAV price adjustment.

Senior Mutual Fund Accountant 1996 – 1998

Provided investment accounting for six mutual funds as well as computation of daily net asset values. Exceeded company goals for production quantity and accuracy.

Reviewed other fund accountants' daily work that led to increased reporting accuracy for the company.

Prepared documentation for SEC and Fund Prospectus compliance.

Created and reviewed expense budgets and shareholder account reconciliation.

SOFTWARE EXPERIENCE

Argus

PeopleSoft

Yardi

Microsoft CRM

Microsoft Office (Excel, Word, Access, and PowerPoint)

EDUCATION

BS, Business Management and Economics, Cornell University, Ithaca, NY

MBA, Business Management, University of Colorado at Denver, Denver, CO

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