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 its asset management team, overseeing a portfolio of transitional real estate loans for a global investment bank. The role covers credit analysis, debt underwriting, and working with diverse partners across markets and property types.

You will review draws, monitor performance against budgets and covenants, and prepare asset updates and credit memos. A Bachelor’s degree and 3+ years CRE experience are required, with strong Excel/PowerPoint and ARGUS

Qualifications

• Bachelor’s Degree in Real Estate, Economics/Finance or related field.
• Minimum of 3 years of experience in commercial real estate.
• Proficient in Microsoft Excel and PowerPoint; ARGUS experience preferred.
• Excellent verbal and written communication skills.
• Financial and quantitative acumen to make well-reasoned recommendations to senior management.
• Ability to work in a fast-paced environment.

Responsibilities

• Provide commercial real estate analysis and debt underwriting across markets and property types.
• Support senior asset managers in monitoring performance vs underwriting, budget, and covenants.
• Coordinate with servicers, borrowers, lenders, and construction consultants.
• Review and approve draw requests for renovations and construction projects.
• Monitor performance of value-add properties including lease analysis and covenant testing.
• Prepare quarterly asset updates for various assets.
• Create credit committee memos for loan modifications.
• Collaborate to achieve department and firm objectives.
• Mentor junior staff to support the Asset Management platform.

Skills

Communication skills

Financial acumen

Fast-paced environment adaptability

Education

Bachelor's degree in Real Estate, Economics or Finance

Tools

Excel

PowerPoint

ARGUS

Job description

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.

JOBDESCRIPTION:

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
• 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,EDUCATIONANDEXPERIENCE:

• 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.