REIT and Real Estate Fund Ratings Analyst - Senior Director (NY)

Job Description

Kroll Bond Rating Agency (KBRA) is seeking a REIT and Real Estate Fund Ratings Analyst - Senior Director to join its REIT/Real Estate Funds group in New York. The analyst will be responsible for initial ratings and surveillance of corporate-level unsecured debt of REITs, institutional real estate funds, and related CRE operating companies in the U.S. and Europe. The analyst will typically manage 10-12 credits, update financial models, monitor industry conditions, participate in calls with senior management, and prepare annual ratings surveillance reports.

Role Involves:

• Participating in initial ratings and surveillance for corporate-level debt.
• Assessing company access to capital and monitoring risks.
• Leading rating committee presentations and meetings.
• Incorporating third-party research into credit analysis.
• Authoring company reports, sector outlooks, and special reports.
• Reviewing bond offering documents and monitoring covenant compliance.
• Maintaining peer group comparisons of credit metrics.
• Reviewing and editing reports of associate team members.

Requirements:

• Bachelor's degree required.
• Knowledge of secured and unsecured commercial real estate debt capital markets.
• Familiarity with issuer structures including public REITs and real estate funds.
• Strong verbal and written communication skills.
• Knowledge of demand drivers for property types and regional markets.
• Proficiency in reviewing financial statements (GAAP, fair-market-value, IFRS).
• Ability to generate private market value estimates for properties.
• Proficiency in Bloomberg and Microsoft Excel.
• Knowledge of lease structures and capital expenditure requirements.
• Ability to meet deadlines and manage rating processes.

Role Offers:

• A hybrid work schedule and flex hours
• Competitive benefits and paid time off
• Paid family and disability leave
• 401(k) plan, including employer match (100% vested)
• Educational and professional development financial assistance
• Employee referral bonus program