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 Associate to join our growing team responsible for management of high-yield debt and equity positions for various bank, REIT, and Private Equity clients. The Associate will work on a diverse portfolio of transitional commercial loan assets spanning various commercial real estate property types and regions.
ESSENTIAL DUTIES:
Support the senior asset managers in monitoring each position's performance relative to underwriting, budget, and covenants within loan documents
Coordination with and/or management of various third-parties including servicers, borrowers, lenders, and construction consultants, amongst others
Manage 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
Monitor performance of transitional/value-add operating properties including performing lease analysis, TI/LC and Renovation draw reviews, and loan covenant testing
Complete quarterly asset updates for each asset and present to client as required
Update and/or create credit committee presentation memos for loan modifications
Re-underwrite each asset on a semi-annual or annual basis and provide support for diligence and underwriting as needed
Work collaboratively to achieve department and firm objectives
Contribute 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 2 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 and ARGUS experience preferred
Excellent verbal and written communication skills
Must possess the financial and quantitative acumen necessary to make well-reasoned, decisive recommendations, as applicable, to senior management
Ability to work in a fast-paced and quickly changing environment .
Salary: $85,000 - $90000 annually
The expected base salary for this position ranges from $85,000 to $90,000 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.