Construction Loan Asset Management

ACORE Capital is an independent commercial real estate finance company. We originate, acquire, and manage first mortgage loans, B-notes, mezzanine debt and preferred equity investments throughout the U.S. With $17.0 Billion in AUM (Assets under Management) in real estate credit strategies (as of 9/30/2020), ACORE is one of the largest-scale and most active private debt lenders exclusively focused on transitional commercial real estate loans.

To facilitate continued portfolio growth, ACORE has an immediate need for several skilled professionals at various levels for its national Asset Management platform in Dallas, Texas. These client-facing positions are responsible for protecting and enhancing asset value and investor returns by monitoring, facilitating, analyzing, and reporting on the performance of large, heavily structured commercial loans. The successful applicant(s) will have an opportunity to work on a broad variety of large, opportunistic, and value-add institutional real estate loans encompassing multiple property types across the U.S.

Exceptional candidates with 2 to 7+ years of relevant experience are encouraged to submit a cover letter and resume with the subject line Construction Loan Asset Management . (Recent graduates with a bachelor s degree in Construction Management or a related area may be considered if they meet other key requirements below.)

Requirements:

• • Commercial real estate banking, construction loan administration, construction management, loan budget and draw request review / analysis / processing, or related experience.
  • Familiarity with typical construction documents, AIA G702/G703 draw forms, standard contract requirements, retainage, lien waivers, change orders, etc.
  • Field or jobsite experience on one or more commercial construction projects.
  • Strong analytical and problem-solving skills, including the ability to proactively identify and flag project concerns (i.e. out-of-balance budget, etc.)
  • Bachelor s Degree in Construction, Engineering, Architecture, related field(s), or equivalent industry experience
  • 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 strong written and verbal communications skills; interacts well with teammates and external parties at all levels
  • Proficiency in Microsoft Office (Excel, Word, PowerPoint). Must be able to create complex, properly formatted, multi-tab spreadsheets using advanced formulas

Responsibilities:

• • Handle a portfolio of approximately 15-20 highly structured complex loans, of which ~70%+ will be large commercial construction loans with project costs typically ranging from $40MM to $150MM
  • Work collaboratively with Team Leads, Asset Managers Bankers, Closers, Loan Servicers, and Borrowers.
  • Manage third-party construction consultants and review monthly reports.
  • Review and approve construction draw requests and related documentation (AIA G702/G703, budget tracking, retainage calculation, GC /subcontractor lien releases, invoices; etc.); resolve discrepancies; prepare and process internal funding packages in an accurate, thorough, and timely manner
  • Provide continuous loan surveillance: project budget tracking and analysis; monitoring market activities and loan servicer performance; processing future funding and reserve disbursements; reviewing/approving annual property budgets; quarterly risk rating and financial reporting including investor presentations
  • Borrower relationship management, including processing consent requests and loan payoffs

Compensation:

ACORE Capital offers a competitive benefits package and salary/bonus commensurate with experience and accomplishment.

ACORE Capital is an equal opportunity employer