The Associate, Property Management and Real Estate Closings has involvement in all aspects of property management as well as the due diligence and closing process. This position has primary responsibility for all property management matters, including maintaining tenant relationships and coordination of repairs and maintenance. It entails working with every facet of a commercial real estate purchase, from the Purchase and Sale Agreement through due diligence and closing of purchase and sale transactions, and property onboarding and post-closing procedures.
- Responsibility for all aspects of property management, including the development of relationships with tenants, tracking and coordination of routine maintenance items required to be performed by the landlord under applicable leases, coordination of other property repairs and maintenance as needed, supervision of vendors, preliminary determination of responsibility of cost according to the lease, and submission of invoices for supervisor approval and to accounting for payment.
- Act as initial point of contact for tenant and municipal and/or county notices or requests. Work with supervision on compiling responses. Ensure satisfactory completion of required actions and obtain documentary evidence.
- Develop an in-depth understanding of lease language and administer landlord obligations under the lease.
- Enter and maintain property data using Yardi and other systems that may be utilized.
- Coordinate confirmation of initial and continuing property and liability insurance coverages with tenants and the company’s insurance broker. Track all landlord and tenant insurance policy expiration dates, proactively request updated certificates, and provide accurate and timely evidence of insurance coverage to lenders.
- Coordinate timely receipt of quarterly and annual tenant and guarantor financial reporting. Track all tenant and guarantor financial statement due dates, proactively request updated statements, and distribute to the Asset Management and Acquisitions teams.
- Promptly and efficiently respond to requests for information or documents from lenders, investors, or other constituents, including arranging property inspections as needed.
- Maintain an orderly, accurate, and efficient electronic and hard copy filing system, including electronically filing documentation to shared drives and oversight of the retention process of original executed documentation. Ensure files are properly and descriptively named and duplicates are deleted.
- Prepare initial drafts of quarterly Asset Review presentations and any other property-level reporting, maintain the master Asset Review schedule including adding newly acquired properties to the schedule and removing sold properties as appropriate, and schedule and coordinate all related site visits.
- Responsibility for creation and maintenance of individual property files in iDeals data room, including upload of all final documentation post-closing and ongoing updating as needed. Act as point of contact for access requests. Assist with additional data room projects as necessary.
Due Diligence and Closing Administration
- Serve as the main point of contact for due diligence processes, including ordering third party reports, arrangement of site visits, tracking, and conducting initial review of third party reports such as surveys, zoning reports, appraisals, property condition reports, roof reports, and environmental reports; organization, cataloguing, and review of seller-provided materials; production of materials when selling a property; and delivery of due diligence items for new loans and refinances.
- Administer the closing process, including preparation, tailoring, and ongoing maintenance of closing checklists; tracking critical dates through Teamwork and any other applicable methods; work with inside and outside real estate attorneys on entity formation and transactional documentation to facilitate and complete closing; obtain required documents including tenant estoppel certificates, SNDA’s, and insurance coverages; coordination of document signing and transmission.
- Complete all property on-boarding procedures, including completion of files and entry of lease and property information into the Yardi lease administration system.
- Assist with special administrative projects, events, and ongoing initiatives as necessary.
Knowledge, Skills, and Abilities:
- Ability to identify information to clarify a situation, seek that information from appropriate, multiple sources and use skillful questioning to abstract the information. Notice discrepancies and inconsistencies in available information.
- Ability to work under pressure and organize workflow priorities with all relevant parties to complete work within established schedule.
- Excellent attention to detail; ability to monitor own work for completeness and accuracy; ability to organize information and materials for others.
- Ability to solve practical problems and deal with a variety of variables in situations where only limited standardization exists.
- Ability to cultivate and maintain positive, working relationships.
- Ability to work independently and as a member of a team.
- Thorough understanding of the documentation and steps involved with a transaction.
- Ability to adapt to changes and improvements to processes to enhance efficiency and accuracy.
- Demonstrated proficiency in computer software programs, including the Microsoft Office Suite, Teamwork, and Yardi, and other functional programs as implemented.
Please note that this job description is not intended to be an exhaustive description of your roles and responsibilities, and you may be assigned additional responsibilities from time to time as communicated by your supervisor. At Four Springs, we have developed a strong culture of cooperation, and all of our team members are expected to contribute to the accomplishment of the Company’s overall goals by performing their duties. In return, Four Springs is committed to supporting the professional development of our team members.
- Property Management
5+ to 7 years
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