JOB DESCRIPTION
SPRING11
Spring11, an affiliate of Newmark provides a full suite of commercial real estate services to a wide range of clients including some of the world’s largest banks, debt and equity funds, REITs, life insurance companies, brokerages, and investors throughout the United States and Europe. Our team consists of over 450 people based in New York, Atlanta, Houston, Boca Raton, London, and Chennai, India.
JOB DESCRIPTION:
This role will be dedicated to Silverstein Capital Partners (“SCP”).
Silverstein Capital Partners (“SCP”) is the lending arm of Silverstein Properties Inc. SCP provides financing for all major product types in growing urban markets throughout North America. Leveraging over 50 years of real estate experience, SCP provides senior loans, bridge loans, subordinate loans, and rescue capital to borrowers on shovel-ready ground-up construction, heavy value-add repositioning, land, and inventory loans.
SCP is seeking an exceptional individual to join its team as an Asset Management Associate in Bellevue, WA. The ideal candidate for the role has a bachelor’s degree in addition to 1-3 years of experience preferably within a real estate lending platform, investment bank, institutional real estate fund, or an institutionally backed sponsor.
RESPONSIBILITIES
The Associate will work full-time on Avenue Bellevue, a newly built mixed-use project in Bellevue, WA. The Associate will report directly to the Director of Operations who is responsible for running the day-to-day elements of the project. The Associate will develop a wide base of knowledge across various asset types and a unique skillset across Hotel, Retail, Condo asset classes. The Associate will analyze and support all aspects of the mixed-use project. Based at Avenue Bellevue in Downtown Bellevue, specific responsibilities will include the following:
ESSENTIAL DUTIES:
- Support the Director of Operations in monitoring the assets of various components consisting of its Hotel, Condo, Retail and Parking Garage.
- Coordination with and/or management of various third parties including service providers, construction consultants, sales brokers and leasing brokers amongst others
- Manage the various capital needs of the project including active monitoring of the budgets on various capital projects.
- Monitor performance of transitional/value-add operating properties including performing lease analysis, TI/LC and renovation draw reviews
- Provide SCP asset updates and ad-hoc analysis as requested
- Update and/or help create credit committee presentation memos
- Work collaboratively to achieve department and firm objectives
SKILLS, EDUCATION AND EXPERIENCE:
- Bachelor’s Degree in Real Estate, Economics Finance or other related field required
- 1-3 years of experience in commercial real estate is required, including direct experience with investment management, asset management, commercial property management, loan origination and/or underwriting
- Must be proficient in Microsoft Excel and ARGUS experience preferred
- Excellent verbal and written communication skills
- Must possess the financial and quantitative acumen necessary to make well-reasoned, decisive recommendations, as applicable, to senior management
- Ability to work in a fast-paced and quickly changing environment.
Salary: $80,000 - $100,000 annually
The expected base salary for this position ranges from $80,000 to $100,000 annually. The actual base salary will be determined on an individualized basis taking into account a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to the base salary and a competitive benefits package, this position may be eligible for additional types of compensation including discretionary bonuses and other short- and long-term incentives (e.g., deferred cash, equity, etc.). reformed by employees and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.
WORKING CONDITIONS: Normal working conditions with the absence of disagreeable elements
NOTE: The statements herein are intended to describe the general nature and level of work being performed by employees, and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.
Newmark is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected Veteran Status, or any other characteristic protected by applicable federal, state, or local law.
Vaccination against COVID-19 is required as a condition of employment. All employees must be fully vaccinated by the time they begin employment. "Fully vaccinated" means 14 days have passed since you received the second shot of a US-approved two-dose vaccine (such as Pfizer or Moderna) or the one shot of a US-approved one-dose vaccine (such as Johnson & Johnson). All employees will be required to provide proof of vaccination in connection with the mandatory vaccination policy.
Newmark will comply with the reasonable accommodation provisions of federal, state, and local laws for individuals unable to receive the COVID-19 vaccine due to a medical condition or sincerely held religious belief.
