Description
Position Summary:
ACRES Capital is seeking an Asset Manager in the Senior or VP role with 5+ years of CRE asset management experience with an emphasis on construction related properties and projects. The primary responsibilities of the Asset Manager will be to manage and to report on a portfolio of structured loans within the ACRES loan portfolio.
Principal Duties and Responsibilities:
- Assess loan risk within portfolio and make recommendations to senior management to mitigate the risk;
- Conduct comprehensive inspections of physical real-estate assets and markets and report to senior management;
- Create and/or utilize financial models for investment valuation;
- Develop and distribute Asset Management reports including WASR, Asset Management Cash Flows, Investor Accruals and Quarterly Fund Reporting to Executive Staff and Investors;
- Research and analyze pertinent market data;
- Review proposed budgets provided by Sponsors and compare to original pro forma;
- Monitor and administer loan covenants including reserve draws;
- Analyze, review, and produce borrower renovation reserve draw request packages for approval;
- Review and analyze monthly property financials, property cash flow statements and future cash requirements and variances for review with senior management;
- Coordinate with accounting and servicing staff on monthly sponsor billings and pursuit of any delinquencies, if necessary;
- Work closely with Accounting, Legal and Underwriting to facilitate closing process
Knowledge, Skill and Ability Requirements:
- Strong knowledge of real estate markets with particular emphasis on construction, commercial, multifamily and mixed-use projects; loan workout a plus!
- Financial statement analysis and a general understanding of credit and capital markets a plus
- Thorough understanding and efficient use of Excel financial modeling and cash flow models, sensitivity tables, and discounted cash flow valuations
- Strong research skills – capable of utilizing various resources to thoroughly investigate markets, trends, industries
- Exceptional interpersonal, written and verbal communication skills
- Highly organized self-starter, able to prioritize, multi-task and work independently with attention to detail
- Personable with experience in meeting deadlines and working in fast paced environment
- Proficiency in Microsoft Office, especially in Excel and Word
- This position requires travel / conduct site visits
Education and Experience Preferred:
- Bachelor’s degree in Accounting, Finance, Economics, Real Estate, Construction Management or other related field
- MBA or Masters in Real Estate a plus
- Minimum 5+ years CRE Asset Management experience, specifically dealing with structured commercial real estate loans for all asset classes — bridge lending experience is preferred
Supervisory Responsibility:
- Serve as a mentor to junior Asset Management team
Experience
5+ to 7 years
This job is no longer active.