Associate, Asset Management

Job Description

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 600 employees based in New York, Atlanta, Houston, Boca Raton, Kansas City, and Chennai, India.

We are currently seeking an Associate to join our growing team to work on a diverse portfolio of transitional commercial loan assets, including ground-up construction, spanning various property types and regions. The Associate will be tasked with providing asset management support and qualitative and quantitative loan underwriting for a growing portfolio of commercial real estate loans.

JOB DESCRIPTION :

We are currently seeking an Associate to join our growing team to work on a diverse portfolio of transitional commercial loan assets, including ground-up construction, spanning various property types and regions. The Associate will be tasked with providing asset management support and qualitative and quantitative loan underwriting for a growing portfolio of commercial real estate loans.

ESSENTIAL DUTIES :

• Provide commercial real estate analysis and debt underwriting across all markets and property types
• 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
• Review and approve draw requests for renovation and 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 various assets
• Update and / or help create credit committee presentation memos for loan modifications
• 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 :

Salary : $65,000 - $85,000 annually

The expected base salary for this position ranges from $65,000 to $85,000 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.