What are the responsibilities and job description for the Asset Manager position at Newmark?
Job Description
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 600 employees based in New York, Atlanta, Houston, Boca Raton, Kansas City, and Chennai, India.
Job Description
This role will be dedicated to the asset management team of a nation's largest single-family home leasing and management company.
We are currently seeking an Asset Manager to join our growing team to work on a diverse portfolio of construction loan assets, including new-build and Build-to-Rent (BTR) development projects. The Asset Manager will be tasked with providing asset management support and qualitative and quantitative loan underwriting for a growing portfolio of loans.
LOCATION :
This position will be based out of the client's office in Dallas, TX.
Responsibilities
ESSENTIAL DUTIES :
The expected base salary for this position ranges from $91,950 to $159,380 annually. The actual base salary will be determined on an individualized basis taking into account a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to base salary and a competitive benefits package (including health, vision, and dental insurance, paid time off and a 401(k) retirement plan with employer matching), this position may be eligible for additional types of compensation including discretionary bonuses and other short- and long-term incentives (e.g., deferred cash, equity, etc.).
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.
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 600 employees based in New York, Atlanta, Houston, Boca Raton, Kansas City, and Chennai, India.
Job Description
This role will be dedicated to the asset management team of a nation's largest single-family home leasing and management company.
We are currently seeking an Asset Manager to join our growing team to work on a diverse portfolio of construction loan assets, including new-build and Build-to-Rent (BTR) development projects. The Asset Manager will be tasked with providing asset management support and qualitative and quantitative loan underwriting for a growing portfolio of loans.
LOCATION :
This position will be based out of the client's office in Dallas, TX.
Responsibilities
ESSENTIAL DUTIES :
- Lead asset management activities for a portfolio of construction loans for new-build and Build-to-Rent (BTR) development projects
- Monitor asset and loan performance relative to underwriting, development budgets, and stabilized projections
- Review and approve borrower requests submitted by Servicers for Lender review and approval, including draw requests, lease approvals, and loan modifications
- Coordinate communications between multiple stakeholders including Borrowers, Sponsors, Servicers, Lender participants
- Evaluate land development and vertical construction documents, including site plans, grading plans, civil drawings, construction drawings, schedules, and contracts
- Perform site visits and inspections during underwriting, due diligence, and throughout vertical construction
- Track development and construction progress to ensure compliance with scope, budget, timeline, and Invitation Homes standards
- Analyze borrower financials, operating statements, construction budgets, and sources-and-uses schedules
- Review leases, appraisals, market studies, and third-party reports to assess asset quality and risk
- Interact directly with borrowers, developers, and builders to resolve issues and maintain asset performance
- Prepare financial, operational, and asset-level reporting for senior management, investors, auditors, and rating agencies
- Contribute to VP of Construction Lending in the areas of reporting, management presentations, and portfolio-level analyses
- Maintain weekly reporting on portfolio performance, development pipeline, and construction status
- Support ad hoc projects related to asset performance, development execution, and portfolio strategy
- SKILLS , EDUCATION AND EXPERIENCE :
- 4 years of experience in relevant debt asset management
- Strong working knowledge of land development and vertical residential construction processes
- Ability to interpret site development plans, construction drawings, development schedules, and budgets
- Proficiency in Microsoft Excel; experience with loan servicing systems, Trustpoint.ai, Salesforce, or development tracking tools preferred
- Strong written, verbal, and interpersonal communication skills
- Excellent organizational, time-management, and project-management abilities
- Ability to manage multiple priorities and meet deadlines in a fast-paced environment
- Valid driver’s license and ability to travel to project sites as required
The expected base salary for this position ranges from $91,950 to $159,380 annually. The actual base salary will be determined on an individualized basis taking into account a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to base salary and a competitive benefits package (including health, vision, and dental insurance, paid time off and a 401(k) retirement plan with employer matching), this position may be eligible for additional types of compensation including discretionary bonuses and other short- and long-term incentives (e.g., deferred cash, equity, etc.).
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.
Salary : $91,950 - $159,380