Job Description

Summary
The Analyst or Associate roles are client facing positions within the asset management team with responsibility for the identification and management of construction risks associated with complex commercial construction loans. Ongoing analysis of project budgets, completion schedules and sufficiency of project funding sources are core job duties. Individuals will work on a broad variety of large, opportunistic, and value-add institutional real estate loans encompassing multiple property types across the U.S. such as, multifamily, office, mixed use, industrial, condos, land development, hotels and retail assets.

Responsibilities

• Manage a diverse portfolio of ~20 large, complex commercial construction loans consisting of both ground-up and renovation projects. Each project typically ranges in size from $40MM to $150MM.
• Review and approve monthly construction loan advances in accordance with funding priority and lender requirements; confirm the adequacy of the overall sources and uses in the development budget for construction deals through project completion and initial lease-up.
• Proactively manage borrower relationships and ensure adherence to terms and conditions of the loan documents, as well as take a leadership role in problem-solving and resolving any budget shortfalls or past due issues in a timely manner.
• Analyze project performance against underwritten milestones and have awareness of relevant labor and material shortages that may impact the project. Post construction, monitor lease-up and net operating income against original projections; assist with loan re-underwriting as needed.
• Conduct ongoing loan surveillance by identifying and escalating issues that warrant additional internal discussion such as schedule delays, cost overruns, accelerated contingency usage, market deterioration, or uncertainty in adequacy of funding sources.
• Facilitate administrative requests; prepare / present credit approvals and take a lead role in handling loan modifications, collateral releases, and loan payoffs.
• Provide ongoing monitoring of the loan agreement requirements to ensure conditions for advancing funds and administering the loan are consistently met and actionable critical date triggers are handled appropriately.
• Prepare quarterly updates of each project for investor presentations and participate in the meetings.
• Work collaboratively with Team Leads, Asset Managers, Bankers, Closers, Accounting, Loan Servicers, third party construction consultants and attorneys.
• This is not a comprehensive listing of activities, duties or responsibilities, which may change at any time without notice.

• Bachelor's degree in Construction, Civil Engineering, Architecture, or related field(s); candidates with relevant commercial construction industry experience and a finance or business degree will also be considered.
• 1-3+ years of experience in either construction project management, project engineering, or cost estimating is preferred.
•  Familiarity with typical construction documents, AIA G702/G703 draw forms, retainage, lien waivers, change orders, plans/specs, etc. Working knowledge of construction materials and methods, standard construction practices, building codes, change orders and standard contract requirements.
•  Strong analytical and problem-solving skills, including the ability to proactively identify and flag concerns with business plan execution, project budget adequacy and potential completion delays.
•  Excellent proficiency with Microsoft Office suite (Excel, Word, PowerPoint Outlook, etc.); Advanced experience with complex Excel spreadsheets is required.
•  Exceptional character, personal integrity, and work ethic.
•  Extremely organized and detail-oriented, highly accurate; excellent time management skills; able to thrive in a dynamic environment and effectively handle multiple competing and time sensitive deadlines and priorities.
•  Great team player with good judgment and effective written and verbal communications skills; interacts well with teammates and external parties at all levels.

Compensation:
As an equal opportunity employer, ACORE Capital offers a competitive benefits package and salary/bonus commensurate with qualifications and experience.