Newmark Knight Frank (NKF), operated by Newmark Group, Inc. (NASDAQ: NMRK), is one of the world's leading commercial real estate advisory firms. We provide a fully integrated platform of services to prominent multinational corporations and institutional investors across the globe, as well as to occupiers, owners and developers of real estate on a local, regional and national level.
Together with London-based partner Knight Frank and independently-owned offices, NKF's 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
The Multifamily Capital Markets platform is the preeminent source of capital solutions for multifamily owners and operators. With a nationwide presence and unparalleled expertise, a 30+ year history and a servicing portfolio of $58 billion representing in excess of 3,400 loans in 49 states. A top five Fannie Mae and Freddie Mac Lender in 2017, the Multifamily Capital Markets Group offers a full complement of GSE, FHA, Life Company and Conduit products paired with extensive multifamily, affordable, student, seniors housing and healthcare expertise. This extensive and diverse national platform provides clients with superior execution in every market across the country.
We are seeking an individual who will work closely with the Head of Special Asset Management (SAM) and the various stakeholders in the day-to-day management and advancement of Specially Serviced and Specialized Loans (bridge & mezzanine), within SAM’s portfolio. This individual will have a blend of commercial loan asset management, underwriting, and workout experience while providing exceptional due diligence capabilities. Strong modeling and analytic capabilities are key.
- Proactive oversight and timely resolution of an assigned portfolio of Specially Serviced and Specialized Loans;
- Comprehensive analysis and understanding of collateral, loan positioning and debt structures, determinations of value, resolution scenarios and alternatives;
- Engagement of and interaction with third party consultants including attorneys, receivers, management/leasing companies, appraisers, environmental engineers, and surveyors;
- Thorough understanding of and compliance with the governing Pooling and Servicing Agreements, Agency Guides (AllRegs), loan documents (if any), REMIC regulations, investor reporting requirements and state and federal laws governing foreclosures, receivership actions, and bankruptcies;
- Presentation and recommendation of resolution strategies to various stakeholders;
- Quarterly budget and cash flow preparations and projections;
- Administer lender consent requests including, but not limited to, transfers of ownership, partial releases, management changes, collateral exchanges, modifications, and waivers, in accordance with applicable loan documents and servicing agreements as needed
- Manage process and effectively communicate between all parties involved in transaction, including the Agencies, Borrowers, Counsel, Master Servicers, and Special Servicers Strong organizational skills with the ability to manage multiple priorities;
- Initiative including the ability to complete complex tasks timely and with a minimum of supervision.
Other Potential Responsibilities:
- Monthly reporting to senior management
- Manage work flow to outside counsel
- Review and execute documents as appropriate in accordance with approved delegated authority
- Other duties as assigned
Skills, Education and Experience:
- College degree or academic achievement in Real Estate, Law, Finance, Management, Journalism or Communication/Rhetoric
- Minimum 7+ years commercial or multifamily loan asset management experience, preferably structuring workouts/resolutions within the CMBS and Freddie Mac K-Deal space, graduate degree a plus.
- Strong and demonstrable analytical skills (underwriting/excel modeling, resolution/disposition analysis, property operations, borrower financials and market performance)
- Strong written and verbal communication skills
- Disciplined approach to diligent follow up through use of manual or automated tickler system
- Strong PC skills, including a demonstrated strong proficiency in Excel and other Microsoft Office applications
- CRE/GSE Underwriting and/or Special Servicing workout experience a must
- Ability to travel a minimum of 10-20%
- Industry leading Parental Leave Policy (up to 16 weeks)
- Generous healthcare
- Bright Horizons back-up care program
- Generous paid time off
- Education reimbursement
- Referral Program
- Opportunities to network and connect
Benefits/perks listed may vary depending on the nature of your employment with Newmark Knight Frank and the job location.
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 Knight Frank 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.
- Capital Markets
7+ to 10 years
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