COMMERCIAL REAL ESTATE; ASSOCIATE - ASSET MANAGEMENT

COMMERCIAL REAL ESTATE; ASSOCIATE - ASSET MANAGEMENT (Palm Beach, Florida)

Forman Capital is looking to expand its team with a full time Associate, Loan Asset Manager. You will be responsible for proactively monitoring loan performance and conducting loan surveillance, from construction loan funding through to repayment, for a portfolio of commercial real estate loans.

About Forman Capital:

Forman Capital is a provider of private commercial real estate debt and equity financing based in South Florida. The firm focuses on short-term construction financing, bridge loans, mezzanine debt, and preferred and JV equity across a variety of real estate asset classes and geographies. The principals, Brett Forman and Ben Jacobson, have closed more than $2.8 billion in commercial real estate transactions since 2004. For more information, visit www.formancap.com.

Role Responsibilities:

• Work directly with the Chief Risk Officer and other Associate Asset Management to actively manage risk and oversee assets under management.

• Assist with review of construction budgets and construction related matters in Underwriting.

• Assist with processing of Initial Advance to close new loans, and as well as tasks associated with closing.

• Review and process construction draws to provide timely funding to clients, developers, and general contractors.

• Interface and collaborate directly with clients and construction professionals to manage day-to-day activities associated with management of portfolio.

• Conduct quarterly site inspections to monitor status of assets, including construction progress.

• Financial modeling and risk analysis.

• Tracking of all loan covenants with a firm understanding of construction loan agreements.

• Partner and CRO weekly portfolio updates.

• Generating and calculating mortgage statements, pay-off statements and other documentation required to service loans.

• Interface with institutional banks for leverage.

• Calculating monthly cash needs to assist with management of capital and investors.

• Quarterly Investment Reports to include key metrics and detail updates on investments to investors.

• Daily interaction with senior management.

Compensation and Benefits:

• Competitive pay package with merit-based bonus potential.

• 401K with a match.

• Health care, dental, and vision insurance.

• Relaxed office culture with a work hard, play hard mentality.

Required Skills/Qualifications:

• Bachelor of Commerce, with a specialization in Real Estate and/or Finance or equivalent qualifications

• Minimum of 1 year experience in commercial real estate and finance.

• Superb proficiency in Microsoft Office with especially confident capabilities in Excel.

• Self-starter and creative thinker who possesses intellectual curiosity.

• Experience in real estate servicing and asset management a plus but not required.

• Strong analytical skills and ability to interpret financial data.

• Attention to detail and accuracy.

• Ability to apply critical thinking and demonstrate problem solving skills.

• Desire to work in a fast-paced environment and as part of a team.

• Excellent verbal and written communication skills.

• This is an on-site position. Remote or hybrid work is not available.

The ideal candidate brings a successful track record in an asset management role within an institutional real estate organization. You have a fiduciary orientation and a strong appreciation of process, reporting, and analysis, paired with a deep understanding of various commercial property types, including lot development, ground-up construction, office, condo’s, retail, industrial and multi-family.