Construction Draw Administration Specialist

Hunt Companies; Boston (MA); On-site; USD 70,000 - 85,000; Full time

Job summary

Hunt Companies in Boston, MA seeks a Construction Draw Administration Specialist to manage construction loan and equity draws, coordinating with developers and inspectors to ensure compliance with developed budgets.

You will prepare budgets, review documents, monitor sources/uses, and generate Investor Central reports, supporting a smooth transition from construction to operation.

Qualifications

• Associate's Degree required.
• Bachelor's Degree in Real Estate, Accounting or Finance preferred.

Responsibilities

• Prepares project Development Budgets and milestones in databases and follows up with PMs.
• Reviews and monitors compliance of partnership agreements and loan documents.
• Monitors development budget, sources/uses, reserves, and cost exposures; notifies changes.
• Coordinates with internal/external parties for leasing reports, insurance and project docs (first 90 days).
• Supports transition from construction to operational phase with PMs.
• Generates reports to monitor progress against underwriting.
• Data administration in Investor Central.

Skills

Attention to detail

Critical thinking

Time management

Communication skills

MS Excel

MS Word

MS Office

Education

Associate's Degree

Bachelor's Degree in Real Estate/Accounting/Finance (in progress or preferred)

Tools

MS Excel

MS Word

MS Office

Job description

A Brief Overview

The Construction Draw Administration Specialist processes construction loan and equity draws in accordance with established procedures. Serves as processing point of contact for Developers and third-party inspector vendors to resolve Development Budget related questions and issues. This position can be based in: Henderson NV, Encino CA, Boston MA, or Denver CO.

What you will do

• Prepares project Development Budgets and establishes project milestones in database, including "Tickler System" and following up as required with Project Managers regarding post-closing requirements or exception items prior to disbursement of funds.
• Reviews and monitors compliance of partnership agreement and loan documents. Conducts detailed analysis of sources and uses, interest reserves, development deficits, timing of subsidy funding, documentation deficiencies, and budget adequacy.
• Tasks include, but are not limited to: (1) Reviews lien releases, title updates, inspection reports, proof of builder's risk insurance and other required insurance renewals, soft cost invoice verification, and other required documentation; (2) Monitors construction draws to ensure that the Development Budget sources (equity and loans) are going to approved costs; (3) Monitors Development Budget and identifies budget variances and provides notice of change orders or any potential cost exposures to Project Managers and Asset Management team; (4) Provides ongoing guidance to our developer partners to ensure continued compliance with established guidelines and protocols and to ensure conformity with timeline assigned to construction phase through lease-up.
• Assists in coordinating with internal and external parties on collection of initial leasing reports, property insurance, and various required project documentation and information during the first 90 days of operations including, Qualified Occupancy Summaries, Rent Rolls, and Monthly Operating Statements.
• Works with Project Managers in establishing guidelines and compliance protocols to support transition efforts from construction phase to operational phase of the project.
• Creates/Runs reports to monitor the progress of properties compared to underwriting.
• Data administration in Investor Central.

Education Qualifications

• Associate's Degree required.
• Bachelor's Degree Progress towards Real Estate, Accounting, Finance preferred.

Experience Qualifications

• 1-3 years Construction Loan or Equity draw processing preferred.

Knowledge, Skills, and Abilities

• High attention to detail, critical thinking, inquisitive, and flexible.
• Strong time management and organizational skills.
• Excellent verbal and written communication skills.
• Proficiency in MS-Excel, MS-Word, and other MS-Office applications.

Compensation

We are committed to offering competitive and equitable compensation.

The hiring range for this position is generally between $70,304 - $85,000, exclusive of fringe benefits or potential bonuses. This position is also eligible for a performance bonus.

Final salaries will be determined based on factors such as geographic location, skills, education, licenses, certifications, and/or experience. In addition to these factors - we believe in the importance of pay equity.

Please keep in mind that the range mentioned above is the general Hiring Range for the role. Hiring at the top of the range is reserved for exceptionally qualified candidates.

We consider internal and external factors as a part of every final offer. We also offer a generous total compensation and benefits package.

Benefits

A competitive salary is only one part of your total rewards. We also offer a comprehensive benefits package, including paid time off, medical, dental, life and disability insurance, HSA/FSA accounts, retirement, rewards programs, and so much more!

Click Here for Benefits Overview

https://www.huntmilitarycommunities.com/careers/benefits

EEO/ADA

The Company and its affiliates provides equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

#INDHUNT

Equal Opportunity Employer

This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.