Asset Manager (Denver) - Commercial Real Estate Finance

$76,003 - $103,002/Yr

Northmarq - Denver, CO

Full-time - Mid Level

Denver, CO

Real Estate

About the position

As an Asset Manager at Northmarq, you will play a crucial role in the commercial real estate finance sector, focusing on providing exceptional service to lenders, borrowers, and other stakeholders. This position is designed for a detail-oriented, service-focused individual who thrives in a deadline-driven environment. Your primary responsibilities will include underwriting borrower consent requests, mentoring and training team members, and managing a portfolio of Agency and/or CMBS loans. You will be responsible for calculating and coordinating loan payoffs, conducting new loan audits, and performing financial statement and rent roll analyses. Additionally, you will monitor watchlists, process reserve disbursement requests, handle insurance losses, and ensure compliance with investor requirements. The role emphasizes commercial mortgage risk management and customer service, with the potential for additional responsibilities aligned with departmental strategies and objectives. At Northmarq, we pride ourselves on fostering an inclusive and collaborative work environment. You will have the opportunity to unlock your potential through best-in-class training and mentorship. This in-office position offers an immediate start date, and you will be part of a team that has been recognized as one of the best places to work in commercial real estate. Your contributions will directly impact the success of our clients and the overall performance of our portfolio. In this role, you will also engage in various tasks such as analyzing financial statements for multifamily and commercial properties, performing financial covenant testing calculations, and reviewing property repair inspections. You will be expected to follow up with borrowers regarding variances and income and expense questions, ensuring that all aspects of loan management are handled with precision and care. Minimal business travel may be required for lender visits and industry conferences, allowing you to expand your professional network and stay updated on market trends.

Responsibilities

• Provide premier customer service to lenders, borrowers, other servicing staff and regional offices.
• Manage a portfolio of Agency and/or CMBS loans with varying requirements and regulations.
• Underwrite and make recommendations for lender consent of borrower requests, including lease approvals, maturity extensions, partial releases/substitutions of collateral, easements, condemnations, ownership transfers, loan assumptions, etc.
• Coordinate with legal counsel and borrowers to document and close transactions upon final lender approval.
• Provide training and mentoring across the team on areas of expertise including risk management, underwriting and general CRE knowledge.
• Assist team members on advanced or complicated consent requests.
• Calculate and coordinate loan payoff requests, including yield maintenance calculations.
• Assist Manager(s) with monitoring team tasks, reviewing write-ups/recommendations, quality control, and lender feedback.
• Analyze annual and quarterly financial statements for multifamily and commercial properties in accordance with the requirements of Freddie Mac and conduit lenders.
• Follow up with borrowers regarding variances and general income and expense questions.
• Perform financial covenant testing calculations including NOI, DSCR, debt yield, etc.
• Review property repair verification inspections conducted by third party vendors and regional offices.
• Follow up with borrowers to resolve any post-closing deferred maintenance items or other high-risk items identified during the annual inspection.
• Process insurance loss requests, manage proceeds, and monitor the restoration of the property.
• Review and make recommendations for releases from reserves including capital expenditure, repair, debt service reserve, rental achievement, TI/LC, and insurance loss.
• Monitor and update monthly loan reports utilized by lenders and management to analyze portfolio risk.
• Audit new loan boarding and setup to ensure loan terms and covenants were accurately captured in the servicing system.
• Monitor and collect outstanding mortgage payments, carefully documenting collection efforts.
• Serve on procedure committees updating policies for the Portfolio & Asset Management Department.
• May participate in department strategic initiatives.
• Perform other reasonable tasks/projects as assigned within department.

Requirements

• Bachelor's Degree, preferably in finance, real estate, or accounting.
• 4-6 years of experience in finance or accounting.
• Background in commercial lending or asset management preferred.
• Strong skills in Microsoft Outlook, Excel, and Word.
• Strong knowledge of commercial real estate finance and commercial loan terminology.
• Demonstrate strong analytical, asset management and underwriting skills.
• Demonstrated leadership and training abilities.
• Excellent verbal and written communication skills.
• Strong organizational and prioritization skills, with ability to manage multiple assignments while meeting deadlines.
• Ability to work both independently and within a team, with minimal supervision.
• Attention to detail and accuracy required.
• Problem solving skills to reflect level of responsibilities.
• Ability to maintain sensitive and confidential information.

Benefits

• 401(k) matching
• Adoption assistance
• Dental insurance
• Health insurance
• Paid parental leave
• Paid time off
• Parental leave