Spring11 - Associate, Asset Management
About The Position
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 500 people based in New York, Atlanta, Houston, Boca Raton, London, and Chennai, India. JOB DESCRIPTION: This role will be dedicated to the asset management team of a global investment bank overseeing a multi-billion dollar portfolio of transitional real estate loans. 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.
Requirements
- Bachelor’s Degree in Real Estate, Economics Finance or other related field required
- Minimum of 3 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 PowerPoint; 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.
Responsibilities
- 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
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
