Acquiring, developing, financing and managing quality real estate investments since 1982, USAA Real Estate provides superior returns investing across the risk spectrum, with expertise in office, industrial, multi-family, retail and hotel assets. Investing for the USAA membership and aligned with more than one hundred investment partners across the world, we maintain an “Investor First” mindset with a significant co-investment in all programs. As the real estate investment management arm of USAA, a leading financial services company serving military families since 1922, USAA Real Estate has achieved a track record of success living up to the high standards set at USAA and sharing its culture. USAA's balance sheet puts us in a position of strength – well capitalized to invest in multiple strategies. This is a distinct competitive advantage. USAA Real Estate is headquartered in San Antonio, Texas.
PURPOSE OF JOB
Assist the head of commercial mortgage loan closings in managing the loan closing and due diligence process for permanent and semi-permanent, non-recourse commercial real estate mortgage loans.
- Participate with the head of commercial mortgage loan closings on loan closing checklist calls. Eventually lead closing checklist calls.
- Work with outside counsel and the commercial mortgage loan team to prepare and monitor company's loan closing checklist.
- Secure third-party quotes and work with our borrowers on selecting consultants.
- Working with the head of commercial mortgage loan closings and other team members, review assigned due diligence items which may include depending on the transaction any combination of all or part of: borrower insurance, third party reports, tenant estoppels/SNDAs, OFAC/KYC, creation of funding worksheets and such other diligence that may be necessary from time to time. Timely identify and raise issues with the team.
- Work in conjunction with RealCo's outside closing counsel and the head of commercial mortgage loan closings on title, survey and zoning reviews.
- Assist head of commercial mortgage loan closings on legal documentation including the term sheet, loan application and loan documents.
- Interface with Treasury teams to manage and coordinate loan funding process.
- Ensure post close routines are maintained including timely receipt of final diligence documents and executed loan documents and handoff to asset management and loan servicing teams.
- Respond to Ad Hoc requests.
At USAA Real Estate our employees enjoy generous benefits packages including comprehensive medical, dental and vision plans, 401k, USAA Membership eligibility, educational and professional designation assistance, business casual dress attire and much more! Qualified applicants must successfully complete a pre-employment background and drug screen. The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.
USAA Real Estate Company is an Equal Opportunity and Affirmative Action Employer of Females, Minorities, Veterans and Disabled.
- High achiever with 5+ years of experience closing commercial real estate mortgage loans or equity investments, preferably for a major life company lender, commercial bank or institutional investor.
- Bachelor's Degree in Finance, Business, or related field.
- Paralegal certificate a plus.
- Strong organizational skills with a high attention to detail.
- Ability to proactively manage multiple processes and closing activities at the same time.
- Ability to work extended hours as needed.
- Qualifications may warrant placement in different job level.
- Regularly required to sit for extended periods of time; frequently required to stand, walk, and use business equipment daily such as computer, copier, fax, telephone, etc.
- Frequently required to reach overhead, bend, and lift objects of up to 40 lbs.
- Ability to handle stress caused by multiple priorities, and other unforeseen situations associated with the organization.
- Eyesight and hearing must be correctable to standard level.