Transaction Manager

Key Responsibilities:

• 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; collect KYC Credit Forms and order OFAC/background searches and credit reports in accordance with Company policy and verify that all compliance issues are addressed

• Engage 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 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

• 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

• Perform other job-related duties as assigned

Job Qualifications:

• 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 to handle multiple transactions simultaneously with accuracy

• Strong oral and written communication skills to act as liaison between lending origination team, borrower, third party closing agents (such as escrow and title companies), counsel and third-party vendors

• Meticulous attention to detail

• Intermediate Excel skills required and Word proficiency

• Ability to adapt to changes in policy and procedure, have an entrepreneurial spirit and work independently with limited supervision

• Ability to manage multiple transactions simultaneously with accuracy in a fast-paced deadline driven environment

• Ability to problem solve and make decisions using policy guidelines

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CMA Ad: ACORE Capital, one of the largest and most active private debt lenders, seeks an experienced Transaction Manager for its Dallas, LA, NY or SF office to manage and close highly structured bridge and construction loans secured by commercial real estate. Transaction Managers 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. The position requires a strong candidate with the following qualifications:
• solid working knowledge of syndicated debt transactions with complex structures;
• good understanding of commercial real estate finance terminology;
• the ability to review loan documentation for loan term compliance;
• the ability to prepare a settlement statement with multiple note structures, escrow and reserve calculations and prepare Capital Call Notices;
• meticulous attention to detail, strong excel skills and modeling competency; the ability to manage multiple transactions simultaneously with accuracy; the ability to work efficiently on a team as well as independently in a fast-paced deadline driven environment

• Qualified applicants will have a minimum of 3 years experience in commercial real estate finance either as a loan closer, underwriter, asset manager, or portfolio administrator. Salary and bonus are determined by experience and performance.