BPG Real Estate Services, LLC., a rapidly growing company, knows that our success begins and ends with our people. Through the efforts of our associates and guided by our values, we transform the communities we serve, striving to exceed the expectations of our tenants, residents and clients. Formed in 1993, BPG is a privately-held, full-service real estate acquisition, development and management company with offices and properties in Washington DC, Wilmington, DE, Philadelphia, PA, and Baltimore, MD.
At BPG, giving our associates the BPG Experience is a top priority.
|Job Title:||Assistant Portfolio Manager (Exempt, salaried)|
|Reports To:||Head of Asset Management|
Duties & Responsibilities
- Maintain compliance requirements by loan matrix
- Prepare monthly, quarterly and annual loan compliance packages including lender communication letters
- Prepare required periodic DSCR, Debt Yield or other covenant compliance calculations in accordance with the definitions included in the loan agreement
- Prepare and administer lender approval requests for new contracts and leases and properly communicate with property managers, leasing, etc. on status.
- Review monthly escrow draw requests prepared by property accounting and ensure supporting documentation is attached and complete and all qualifying expenditures are included.
- Submit draw requests and maintain communication with servicer/ lender on status of funding and any follow-up requests.
- Review master schedule of escrow balances prepared by property accounting on a monthly basis. Maintain updated positions during the month based on draws in process to ensure a real time balance. TI, LC and Capital Obligation tracking
- Track TI obligations by assets. Obtain monthly updates on estimated project costs and change orders. Maintain estimated project costs. Track vendor invoices, payments and maintain current balance of obligations.
- Track Leasing Commission obligations by property. Review leasing commission calculations for accuracy in accordance with LC agreements and track estimated payment dates.
- Track base building capital projects obligated by leases. Obtain monthly updates on estimated project costs and change orders. Track vendor invoices, payments and maintain current balance of obligations
- Track building capital required by loan agreements. Update status monthly.
- Maintain forecasted escrow balances based on loan funding requirements of escrows and existing obligations that will be drawn from escrow accounts.
- Prepare monthly updated Property liquidity position for every asset which reflects
- Current cash balance
- Summary of outstanding accounts aged accounts payable separated in separate buckets of operational, capital and LC related.
- Summary of existing TI and capital obligations
- Projected property cash flow for the remainder of the year
- Projected property distributable cash flow or projected liquidity deficit.
- Lead the administration of the annual budget process
- Communicate schedules, deadlines and help facilitate the process
- A team player with the ability to multi-task.
- Be able to analyze situations, identify problems and recommend solutions.
- Strong analytical skills with high attention to detail. Problem solving and analytical skills required.
- Must be deadline-oriented, organized, and exhibit problem-solving skills.
- Must be able to handle multiple deadlines at the same time.
- Must be proficient in Microsoft Excel.
- Ability to conduct financial analysis and research with minimal guidance.
- Ability to communicate (orally and in writing) in a professional manner when dealing with individuals at all levels of the organization.
Bachelor’s degree in Finance or Accounting preferred or at least three years of related experience.
- Real estate or property management background strongly desired.
- Excellent working knowledge of all MS-Office products, particularly Excel.
- Experience with MRI software is strongly preferred.
- Requires prolonged sitting.
- Requires frequent operation of office equipment; such as a computer, copy machine, telephone, etc.
- Occasional stretching and / or bending to access file cabinets, office equipment, etc.
- Frequent lifting, carrying, pushing, and/or pulling of objects weighing up to 10 lbs.
Statement of Notices
Equal Employment Opportunity
BPG Real Estate Services, LLC, provides equal employment opportunities to all qualified individuals without regard to race, creed, color, religion, national origin, age, sex, marital status, sexual preference, or non-disqualifying physical or mental handicap or disability in each aspect of the human resources function.
Americans with Disability Act
Applicants as well as associates who are or become disabled must be able to perform the essential job functions either unaided or with reasonable accommodation. Applicants as well as associates are encouraged to meet with Human Resources as the organization shall determine reasonable accommodation on a case-by-case basis in accordance with applicable law.
The above statements reflect the general duties and responsibilities considered necessary to perform the essential functions of the job and should not be considered as a detailed description of all the work requirements of the position. Other duties may be assigned. The Company may change the specific job duties with or without prior notice based on the needs of the company.