Job Description
POSITION SPECIFICATION
COMMERCIAL REAL ESTATE LOAN CLOSING ASSOCIATE Shine Associates, LLC has been retained to search, identify and recruit a Commercial Real Estate Loan Closing Associate on behalf of our Company (‘Company’). This position will be hybrid and required to be in the New York City once a month.
CONFIDENTIALITY
Shine Associates, LLC has been exclusively retained on this assignment. Information contained in this position specification as well as any other information concerning the Company provided or verbally discussed is confidential. All materials and discussions are to be utilized for the sole purpose of a candidate’s personal review of the career opportunity.
CLIENT DESCRIPTION
Our client is a leading capital provider in the real estate industry and is recognized as a top-tier commercial mortgage lender staffed by a team of highly experienced real estate professionals. The primary focus of the Real Estate Debt Team is the origination and management of commercial real estate related debt products, including mortgage loans (fixed and floating rate) and structured debt investments (including construction and bridge loans), which are typically secured by industrial, multi-family, retail, office, and hotel properties.
COMMERCIAL REAL ESTATE LOAN CLOSING ASSOCIATE
Our client is seeking an associate to join its Commercial Real Estate Loan Closing team. This role is Hybrid and required to be in the New York office 1 day per quarter. The position works closely with loan underwriters, borrowers, brokers, legal counsels, and third parties to facilitate the efficient closing of each transaction while ensuring all underwriting and closing requirements are met.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Coordination with loan originators to facilitate the preparation and negotiation of real estate loan application commitments which include mortgage, mezzanine, co-lending, portfolio, construction and bridge structures.
- Management of the loan closing process including:
- review and negotiation of the loan documents, in consultation with lender’s in-house legal counsel, local legal counsel, and other internal resources, as well as borrower’s legal counsel and business counterparts; and
- ensure the receipt and review of all due diligence items required for a timely closing (e.g., property related reports, title & survey, tenant lease related documentation, property and liability insurance, etc.).
- Disbursement of loan proceeds including:
- review settlement statements;
- direct allocation of funds due to the Company (e.g. escrowed deposits, holdbacks, and fee income) and payment of expenses incurred in connection with the transaction (e.g. legal and third-party expenses).
- Utilization of the Department’s real estate transaction management system to ensure:
- data quality management relating to each transaction;
- approvals for underwriting, due diligence, and investment committee are obtained prior to closing; and
- timely transfer of closed loans to the loan management division
- Participation in various departmental and divisional special projects.
QUALIFICATIONS, SKILLS AND EXPERIENCE
- Bachelor’s Degree in Finance, Real Estate, or related field.
- Experience in commercial real estate financing along with an understanding of the loan closing process and the legal issues that arise, and the business analysis that supports each transaction.
- Strong organizational and communication skills.
- Self-motivated, with the ability to effectively prioritize multiple assignments.
- Proficient knowledge of Microsoft office.
- Experience as a paralegal strongly preferred
COMPENSATION
The expected base salary for this position ranges from $110,000 - $125,000. Actual base salary will be determined based on several factors but not limited to individual’s experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus.
CONTACT INFORMATION
Shine Associates, LLC
45 School St., Suite 301
Boston, MA 02108
Hillary H. Shine, Principal Kelsey E. Shine, Director
Cell (203) 613-3562 Cell (508) 494-6569
Hillary@shineassociatesllc.com Kelsey@shineassociatesllc.com
Chandlee Gustafson, Associate
Cell (978) 201-3100
Chandlee@shineassociatesllc.com
Job Tags
Full time, Local area,