Construction Draw Administration Specialist

A Brief Overview
The Construction Draw Administration Specialist processes construction loan and equity draws in accordance with established procedures. Serves as processing point of contact for Developers and third-party inspector vendors to resolve Development Budget related questions and issues. The position will be based in Encino, CA.

Prepares project Development Budgets and establishes project milestones in database, including “Tickler System” and following up as required with Project Managers regarding post-closing requirements or exception items prior to disbursement of funds.

Reviews and monitors compliance of partnership agreement and loan documents. Conducts detailed analysis of sources and uses, interest reserves, development deficits, timing of subsidy funding, documentation deficiencies, and budget adequacy.

• (1) Reviews lien releases, title updates, inspection reports, proof of builder’s risk insurance and other required insurance renewals, soft cost invoice verification, and other required documentation;
• (2) Monitors construction draws to ensure that the Development Budget sources (equity and loans) are going to approved costs;
• (3) Monitors Development Budget and identifies budget variances and provides notice of change orders or any potential cost exposures to Project Managers and Asset Management team;
• (4) Provides ongoing guidance to our developer partners to ensure continued compliance with established guidelines and protocols and to ensure conformity with timeline assigned to construction phase through lease-up.

Assists in coordinating with internal and external parties on collection of initial leasing reports, property insurance, and various required project documentation and information during the first 90 days of operations including, Qualified Occupancy Summaries, Rent Rolls, and Monthly Operating Statements.

Works with Project Managers in establishing guidelines and compliance protocols to support transition efforts from construction phase to operational phase of the project.

Creates/Runs reports to monitor the progress of properties compared to underwriting.

Data administration in Investor Central.

Associate's Degree required.

Bachelor's Degree Progress towards Real Estate, Accounting, Finance preferred.

1-3 years Construction Loan or Equity draw processing preferred.

High attention to detail, critical thinking, inquisitive, and flexible.

Strong time management and organizational skills.

Excellent verbal and written communication skills.

Proficiency in MS-Excel, MS-Word, and other MS-Office applications.