Spring11 - Associate, Asset Management

Newmark; Atlanta (GA); On-site; USD 70,000 - 105,000; Full time

Job summary

Newmark is seeking an Associate to join our asset management team overseeing a multi-billion dollar portfolio of transitional real-estate loans. Responsibilities include providing asset management support, debt underwriting, and coordinating with third parties. Candidates should have a Bachelor’s degree in Real Estate, Economics, or Finance, and a minimum of 3 years of relevant experience in commercial real estate.

The position offers a salary range of $70,000 to $105,000 annually, in addition to a competitive benefits package.

Qualifications

• Minimum of 3 years of experience in commercial real estate required.
• Direct experience with investment management, asset management, commercial property management, loan origination and/or underwriting.
• Ability to work in a fast-paced and changing environment.

Responsibilities

• Provide commercial real-estate analysis and debt underwriting.
• Support senior asset managers in monitoring performance.
• Coordinate with various third-parties including servicers and lenders.

Skills

Commercial real-estate analysis

Debt underwriting

Microsoft Excel

Microsoft PowerPoint

Financial and quantitative acumen

Education

Bachelor’s Degree in Real Estate, Economics, Finance or related field

Tools

ARGUS

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 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.

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


• Coordinate with and/or manage various third‑parties including servicers, borrowers, lenders, and construction consultants, among 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

• 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

SALARY RANGE: $70,000 - $105,000 annually. The expected base salary for this position ranges from $70,000 to $105,000 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 the 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.