Senior Asset Manager

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