Transaction Manager, Commercial Real Estate

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This range is provided by ACORE CAPITAL. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

$/yr - $/yr

Annual Bonus

The Closing/Transaction Manager will act as a liaison between the lending origination team, borrower, third party closing agents (such as escrow and title companies), counsel and third-party vendors to ensure loans are closed, funded and documented in accordance with the approved terms and structure. They will have an excellent opportunity to work on a variety of large opportunistic and value-add institutional real estate transactions, including all major property types across the country.

This role is headquartered from either Dallas, Los Angeles or San Francisco.

• Review Greenlight Memo and Term Sheet for comprehension of the deal and structure
• Participate in weekly deal calls related to the progress of each loan transaction
• Establish Clearing and Cash Management Accounts and follow-up for Compliance Approval
• Review Borrower Organization Chart for completeness ensuring KYC Credit Forms are received, OFAC/background searches and credit reports are ordered in accordance with Company policy
• Work with insurance consultant and follow up for the consultant’s review and mark-up of the insurance provision in the Loan Agreement. Review consultant’s report and certificates and prepare Insurance Escrow Analysis
• Track loan expenses against the application deposit, determine if additional deposit is required and coordinate with the Banking Team
• Discuss and determine Note Structure with Syndication team, calculate initial funding amounts based on note splits and calculate spreads for each Note
• Review draft loan agreements and guaranties for accuracy of loan terms, note splits, loan escrows and reserves, guarantor, net worth and liquidity covenants
• Coordinate execution of Loan Documents
• Review Interest Rate Cap Bid package for compliance to Company policy, accuracy of notional amount and advance schedule, strike rate and term
• Prepare Lender Loan Settlement Statement; calculate loan escrows and reserves, coordinate with Title/Escrow to ensure the escrow statement accounts for all note amounts and Lender charges
• Verify equity at closing and balance construction budget to reflect disbursements made at closing
• Obtain Escrow wire instructions and contacts
• Prepare and distribute Investor Capital Call Notices/Funding Instructions to Investors, ACORE Operations and Accounting and follow-up with investor or ACORE Accounting Department throughout the closing process to ensure funds are released
• Authorize release of Net Expense Deposit
• Reconcile Sources & Uses to Escrow Statement to ensure the deal is closed in accordance with deal metrics presented to Investor
• Confirm Investment Committee approval is final and credit and legal sign-off are obtained prior to closing
• Verify Title Company/Escrow Agent’s receipt of funds necessary to close
• Obtain final executed closing documents from Closing Counsel and ensure documents are sent to the Custodian.
• Ensure post-closing agreements (co-lenders, participation certificates, etc.) are received, checked and distributed
• For Fund IV Mezzanine Loans, ensure REIT Asset Checklist is completed, distributed and confirm asset meets “Good REIT” criteria
• Coordinate post-closing document delivery with Documentation Managers and confirm due diligence and applicable internal documents are uploaded to war rooms used to transition documents to Investors and Loan Servicer.
• Manage the Deal Set Up in Backshop for transition of the deal to Asset Management and review accuracy of data entry by third party contractors
• This is not a comprehensive listing of activities, duties or responsibilities, which may change at any time without notice

• Minimum 3 years’ experience closing complex bridge, construction and/or mezzanine loans secured by commercial real estate or other relevant experience
• Working knowledge of complex commercial real estate financing terminology, concepts, and structure
• Strong organizational skills…