Construction Draw Administration Specialist

Hunt Capital Partners; Los Angeles (CA); On-site; USD 75,000 - 110,000; Full time

Job summary

Hunt Capital Partners in Encino, CA, seeks a Construction Draw Administration Specialist to process construction loan and equity draws and serve as the point of contact for developers and inspector vendors.

You will prepare project development budgets, monitor budgets and expenses, review loan documents and lien releases, run reports, and coordinate with internal teams during early operations to ensure timely disbursements and compliance with guidelines.

Qualifications

• 1-3 years Construction Loan or Equity draw processing preferred.
• Experience with reviewing loan documents and budgets.
• Proficiency in MS Office applications and reporting.

Responsibilities

• Prepares project Development Budgets and milestones, and tracks post-closing items prior to disbursement.
• Reviews partnership agreements and loan documents; analyzes sources/uses, reserves, and budget adequacy.
• Reviews lien releases, title updates, insurance renewals, and other required documentation; verifies invoices.
• Monitors construction draws to ensure funds align with approved costs and notices cost exposure.

Skills

MS Excel

MS Word

Attention to detail

Time management

Communication skills

Education

Associate's Degree

Bachelor's Degree in progress towards Real Estate/Accounting/Finance

Tools

MS Office Suite

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. The position will be based in Encino, CA.

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.

• (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.