Newmark
Spring11 Asset Manager - Vice President
Newmark, Atlanta, Georgia, United States, 30383
SPRING11
Spring11, an affiliate of Newmark provides a full suite of commercial real estate services to a wide range of clients including some of the world’s largest banks, debt and equity funds, REITs, life insurance companies, brokerages, and investors throughout the United States and Europe. Our team consists of over 450 people based in New York, Atlanta, Houston, Boca Raton, Kansas City, and Chennai, India.
JOB DESCRIPTION:
We are currently seeking an Asset Manager to join our growing team responsible for management of high-yield debt and equity positions for various bank, REIT, and Private Equity clients. The position will focus on supporting Asset Management functions for a portfolio primarily made up of ground-up developments and transitional operating properties. The multi-client portfolio spans various commercial real estate property types, regions and investment types (debt and equity).
ESSENTIAL DUTIES:
Responsible for managing a portfolio of debt (and possibly equity) investments, serving as the primary point of contact for each position on behalf of the client/s
Monitoring each position’s performance relative to underwriting, budget, and covenants within loan documents
Coordinating with and/or management of various third-parties including borrowers, lenders, construction consultants, title agents, amongst others
Managing the draw review process for ground-up construction projects of varying sizes and scopes ranging from single-use, secondary market transactions to high-profile, trophy projects in major metros
Constructing monthly debt waterfalls for cash managed deals, and working alongside the Treasury team to ensure funds are administered properly
Calculating future Debt Service and operating shortfalls for Bridge and Construction Loans
Working collaboratively with Servicing, Insurance, Tax, and other related servicing departments, in order to maintain proper Loan compliance and lien position security
Monitoring performance of transitional/value-add operating properties including performing lease analysis, TI/LC and Renovation draw reviews, and loan covenant testing
Completing quarterly asset updates for each asset and present to client as required
Re-underwriting each asset on a semi-annual or annual basis and providing support for diligence and underwriting as needed
Contributing to the oversight and mentorship of future junior staff members to support an expanding Asset Management platform
SKILLS, EDUCATION AND EXPERIENCE:
Bachelor’s Degree in Real Estate, Economics Finance or other related field required
Minimum of 4 years of experience in commercial real estate is required, including direct experience with investment management, asset management, commercial property management, loan origination and/or underwriting
Must be proficient in Microsoft Excel
Self starter, with the ability to work both in an office environment and remote
Excellent verbal and written communication skills
Must possess the financial and quantitative acumen necessary to make well-reasoned, decisive recommendations, as applicable, to clients and senior management
Ability to work in a fast-paced and quickly changing environment.
Salary
: $110,000 - $140,000 annually
The expected base salary for this position ranges from $110,000 to $140,000 annually. The actual base salary will be determined on an individualized basis taking into account a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to base salary and a competitive benefits package, this position may be eligible for additional types of compensation including discretionary bonuses and other short- and long-term incentives (e.g., deferred cash, equity, etc.).
WORKING CONDITIONS:
Normal working conditions with the absence of disagreeable elements.
NOTE:
The statements herein are intended to describe the general nature and level of work being performed by employees, and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.
Newmark is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected Veteran Status, or any other characteristic protected by applicable federal, state, or local law.
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Spring11, an affiliate of Newmark provides a full suite of commercial real estate services to a wide range of clients including some of the world’s largest banks, debt and equity funds, REITs, life insurance companies, brokerages, and investors throughout the United States and Europe. Our team consists of over 450 people based in New York, Atlanta, Houston, Boca Raton, Kansas City, and Chennai, India.
JOB DESCRIPTION:
We are currently seeking an Asset Manager to join our growing team responsible for management of high-yield debt and equity positions for various bank, REIT, and Private Equity clients. The position will focus on supporting Asset Management functions for a portfolio primarily made up of ground-up developments and transitional operating properties. The multi-client portfolio spans various commercial real estate property types, regions and investment types (debt and equity).
ESSENTIAL DUTIES:
Responsible for managing a portfolio of debt (and possibly equity) investments, serving as the primary point of contact for each position on behalf of the client/s
Monitoring each position’s performance relative to underwriting, budget, and covenants within loan documents
Coordinating with and/or management of various third-parties including borrowers, lenders, construction consultants, title agents, amongst others
Managing the draw review process for ground-up construction projects of varying sizes and scopes ranging from single-use, secondary market transactions to high-profile, trophy projects in major metros
Constructing monthly debt waterfalls for cash managed deals, and working alongside the Treasury team to ensure funds are administered properly
Calculating future Debt Service and operating shortfalls for Bridge and Construction Loans
Working collaboratively with Servicing, Insurance, Tax, and other related servicing departments, in order to maintain proper Loan compliance and lien position security
Monitoring performance of transitional/value-add operating properties including performing lease analysis, TI/LC and Renovation draw reviews, and loan covenant testing
Completing quarterly asset updates for each asset and present to client as required
Re-underwriting each asset on a semi-annual or annual basis and providing support for diligence and underwriting as needed
Contributing to the oversight and mentorship of future junior staff members to support an expanding Asset Management platform
SKILLS, EDUCATION AND EXPERIENCE:
Bachelor’s Degree in Real Estate, Economics Finance or other related field required
Minimum of 4 years of experience in commercial real estate is required, including direct experience with investment management, asset management, commercial property management, loan origination and/or underwriting
Must be proficient in Microsoft Excel
Self starter, with the ability to work both in an office environment and remote
Excellent verbal and written communication skills
Must possess the financial and quantitative acumen necessary to make well-reasoned, decisive recommendations, as applicable, to clients and senior management
Ability to work in a fast-paced and quickly changing environment.
Salary
: $110,000 - $140,000 annually
The expected base salary for this position ranges from $110,000 to $140,000 annually. The actual base salary will be determined on an individualized basis taking into account a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to base salary and a competitive benefits package, this position may be eligible for additional types of compensation including discretionary bonuses and other short- and long-term incentives (e.g., deferred cash, equity, etc.).
WORKING CONDITIONS:
Normal working conditions with the absence of disagreeable elements.
NOTE:
The statements herein are intended to describe the general nature and level of work being performed by employees, and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.
Newmark is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected Veteran Status, or any other characteristic protected by applicable federal, state, or local law.
#J-18808-Ljbffr