Spring11 Asset Manager - Vice President

NEWMARK

About Newmark (Nasdaq: NMRK)

Newmark Group, Inc., together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. To learn more, visit nmrk.com or follow @newmark

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 450 people based in New York, Atlanta, Houston, Boca Raton, Kansas City, and Chennai, India.  

JOB DESCRIPTION:

We are currently seeking an Asset Manager to join our growing team responsible for management of high-yield debt and equity positions for various bank, REIT, and Private Equity clients. The position will focus on supporting Asset Management functions for a portfolio primarily made up of ground-up developments and transitional operating properties. The multi-client portfolio spans various commercial real estate property types, regions and investment types (debt and equity). 

 

ESSENTIAL DUTIES:

• Responsible for managing a portfolio of debt (and possibly equity) investments, serving as the primary point of contact for each position on behalf of the client/s
• Monitoring each position’s performance relative to underwriting, budget, and covenants within loan documents
• Coordinating with and/or management of various third-parties including borrowers, lenders, construction consultants, title agents, amongst others
• Managing the draw review process for ground-up construction projects of varying sizes and scopes ranging from single-use, secondary market transactions to high-profile, trophy projects in major metros
• Constructing monthly debt waterfalls for cash managed deals, and working alongside the Treasury team to ensure funds are administered properly
• Calculating future Debt Service and operating shortfalls for Bridge and Construction Loans
• Working collaboratively with Servicing, Insurance, Tax, and other related servicing departments, in order to maintain proper Loan compliance and lien position security
• Monitoring performance of transitional/value-add operating properties including performing lease analysis, TI/LC and Renovation draw reviews, and loan covenant testing
• Completing quarterly asset updates for each asset and present to client as required
• Re-underwriting each asset on a semi-annual or annual basis and providing support for diligence and underwriting as needed
• Contributing 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 4 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
• Self starter, with the ability to work both in an office environment and remote Excellent verbal and written communication skills
• Must possess the financial and quantitative acumen necessary to make well-reasoned, decisive recommendations, as applicable, to clients and senior management
• Ability to work in a fast-paced and quickly changing environment

 

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.