Construction Real Estate Manager
The professionals at Greenwich Street Community Capital (“GSCC”), a dedicated subsidiary of Situs Group, underwrite and close construction and permanent loans that are used to finance the new construction and preservation of affordable and workforce rental housing for Citi Community Capital (“CCC”). CCC is the community lending and investing arm of Citigroup, housed in the Municipal Securities Division of Citi’s Institutional Clients Group. Unique among its peers, CCC provides a comprehensive array of financial products from investment banking to lending and equity investment designed to create strong communities and contribute toward Citigroup’s Community Reinvestment Act performance. Employees of GSCC are fully integrated with Citi employees at Citi locations.
CCC works with for-profit and non-profit developers, as well as state and local government agencies on both straightforward and highly structured transactions that may use a combination of taxable and tax-exempt loans or bonds, Low Income Housing Tax Credit equity, and governmental and private subsidies. The projects we finance serve the homeless, seniors, those with disabilities, as well as low income families and individuals. They may also include workforce housing or market rate units and other commercial uses. We are among the largest Fannie Mae and Freddie Mac mortgage bankers in this sector in addition to being a balance sheet lender.
We work throughout the country from 13 offices and, according to Affordable Housing Finance Magazine, have been the #1 affordable housing lender in the United States in each of the past seven years. That success is due in large part to having the strongest, most innovative team of professionals in the country. With Citi’s capital committing capability and team of experienced professionals, we are able to provide creative financing solutions that are specifically designed to meet each client’s needs.
CCC is looking to add a Construction Real Estate Manager, likely at the Assistant Vice President level, in one of our regional offices (Nashville or New York); the experienced professional will be responsible for and possess the following qualifications.
Interface with Citi Origination and GSCC Underwriting teams as well as Citi Risk Managers on construction risk due diligence
Qualify and engage external consultants for due diligence reviews of construction and real estate projects including face to face meetings with developers
Must be detailed oriented with the ability to manage multiple projects at once and well organized to make sure deadlines are met.
Oversee the 3rd party engagements with a focus on critical construction documentation (GC contracts, budgets, schedules, drawings, etc.)
Review consultants’ reports and render opinions identifying construction project risks and suggest mitigation recommendations to Citi Risk Managers as well as the Origination and Underwriting teams
Assess construction and development teams’ competence and capacity to complete the project
Adherence to Citi and Agency credit policies, bulletins and product programs
- Bachelor Degree in Construction Management, Architecture or Engineering
Candidate is required to have 1 to 3 years' experience with real estate due diligence, Construction Consulting (Physical Needs, Seismic Plan and Cost Reports), or multi-family construction, preferably in the affordable housing industry.
Fannie Mae and Freddie Mac construction oversight experience preferred
Individual must have excellent communication, organizational and interpersonal skills, as well as the ability to work under tight deadlines and manage priorities for loan closings.
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