At Mill Creek Residential we are committed to building a diverse, equitable and inclusive workplace where our associates can grow and bring their whole selves to work. This starts with our recruiting and hiring process.We want you to know that we encourage you to apply if this job excites you, even if you don’t meet 100% of the requirements. You may just be the right candidate for this role, or another role and make your mark at Mill Creek.
The Capital Markets Associate's primary responsibility will be assisting the team in sourcing, negotiating, closing, and managing construction debt, JV equity and project refinancing across the 21 markets where the company develops, builds, and acquires properties.
Essential Functions/Responsibilities
- Prepare construction debt financing strategies and financing solicitation packages
- Assist in closing debt and equity for new development communities and acquisitions communities across the country, with a focus on Western U.S. offices
- Assist in closing debt modifications and refinances for development and acquisition communities across the county, with a focus on Western U.S. offices
- Track the status of debt solicitation processes, assist in providing lender due diligence, and follow-up as needed to ensure timely loan closings
- Participate in drafting and of review Investment Committee Meeting memos as requested and review all memos for accuracy
- Participate in drafting and review of loan documents and exhibits as requested and review for accuracy
- Provide debt information as requested and work with Capital Markets and various internal groups to track interim property tests, guaranty burn offs, loan extensions and other information required to proactively manage our portfolio properly
- Assist with lender and equity partner ad-hoc reporting, questions, and other requests related to financed projects
- Participate in financing conversations with equity partners, Asset Management, Portfolio Management, Development and/or Accounting
- Support Development, Accounting, and Treasury teams to ensure proper execution of loan draw requests, payments, covenants and other requirements
- Run detailed sensitivity analysis for loan covenants and extension tests
- Prepare interest rebalancing projections and assist in negotiating loan rebalancing requests
- Assist with interest rate hedging for construction loans
- Coordinate lender approvals for retail leases nationwide
- Assist in maintaining contact relationship management database for lenders
- Assist in developing and maintaining relationships with providers of construction debt, bridge and permanent financing
Education and/or Experience
- Undergraduate degree required
- Minimum of 3 years real estate finance experience
- Experience in commercial real estate lending or construction lending preferred
- Multifamily experience preferred
Skills/Specialized Knowledge
- Excellent attention to detail
- Strong analytical skills with a firm understanding of risk/reward relationships
- Ability to produce compelling and detailed materials and information for existing and prospective lenders
- Strong proficiency in Word, PowerPoint, and Excel
- Strong written communication skills
- Ability to develop, communicate and focus on critical issues in complex financial situations
- Strong team player who can work across a firm organized along both functional and geographic lines
- Tenacious in meeting deadlines with strong sense of urgency and outstanding ability to self-manage
- Persuasive communicator with excellent interpersonal skills and ability to manage through conflict and positively influence results
- Comfortable working in demanding and occasionally high-pressured environments
- Operate with the highest degree of integrity, motivation, and intellectual curiosity
About the Benefits of joining the Mill Creek Team
- Competitive compensation, with bonus opportunity
- Comprehensive medical, dental and vision
- Employer sponsored short and long term disability, Life and ADD insurance
- 401k with employer matching
- Paid time off benefits: Vacation, Sick, Holidays
Mill Creek is an Equal Opportunity Employer
Are you ready to contribute to the success of Mill Creek Residential? If so, apply today and become part of an organization that believes in uncompromising integrity, celebrating successes, continuous improvement, and working hard, smart and together!
