Vice President Asset Management
Newmark
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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 600 employees based in New York, Atlanta, Houston, Boca Raton, Kansas City, and Chennai, India.
Currently seeking a Vice President 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 Vice President will be tasked with providing asset management support and qualitative and quantitative loan underwriting for a growing portfolio of commercial real estate loans. The ideal candidate for the role has a bachelor’s degree (or higher education) in addition to a minimum of 8 years of commercial real estate experience including direct experience with investment management, asset management, commercial property management, loan origination and/or underwriting.
ESSENTIAL DUTIES:
- Provide commercial real estate analysis and debt underwriting across all markets and property types
- Monitor 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 create credit committee presentation memos for loan modifications
- Work collaboratively to achieve department and firm objectives
- Contribute to the oversight and mentorship of 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 8 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
About The Company
Newmark
Since 1929, we’ve faced forward, predicting change, and pioneering ideas. Almost a century later, the same strategic sense and audacious thinking still guide our approach to commercial real estate. Today, our integrated CRE platform delivers seamlessly connected services tailored to every type of client, from owners to occupiers, investors to founders, and growing startups to leading companies. Tapping into smart tech and smarter people, Newmark brings ingenuity to every exchange and transparency to every relationship. We think outside of boxes, buildings and business lines, delivering a global perspective and a nimble approach. From reimagining spaces to engineering solutions, we have the vision to see what’s next and the tenacity to get there first. Newmark (NASDAQ: NMRK) is a publicly traded subsidiary of Cantor Fitzgerald, one of the oldest and most established names in the financial intermediary industry.
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