DiversyFund is a fast growing FinTech startup that marries traditional real estate private equity with a custom-built online platform, connecting investors to institutional quality investment opportunities using novel technology.
Through our online platform, we are democratizing alternative asset investing by breaking down traditional barriers to entry. We open up access to multi-million-dollar commercial real estate investments to everyone and provide them with the opportunity to diversify their portfolio beyond stocks and bonds.
We straddle the line between FinTech startup and a public, non-traded REIT. Our online, SEC-qualified REIT raises equity capital for our Multifamily Value Add deals. We raise millions of dollars each month from online investors on a fully-automated basis through our online fintech platform and are scaling quickly.
ABOUT THE POSITION: SENIOR TRANSACTION/CLOSING MANAGER
The role of the Senior Transaction/Closing Manager is responsible for all aspects of the closing commercial real estate investments for DiversyFund’s Multi-Family Fund. Responsibilities include negotiating the Purchase and Sale Agreement (PSA), managing the due diligence process, the review and submission loaning documents, reviewing and adjusting DiversyFund underwriting, and scheduling third-party. This position teams with DiversyFund’s VP of Acquisition and is the main interface with the lenders, brokers/sellers, outside attorneys, third-party vendors, and escrow officers. Thus, applicant must be able to influence multiple parties while driving the due diligence and closing process toward a shared goal. DiversyFund is a fast-growing company and anticipates closing one multifamily property per month.
Must have prior experience closing commercial mortgages for a lender or commercial properties for a real estate investment firm, preferably multifamily assets. Must also have experience reviewing commercial loan documents and forms, creating legal entities, reviewing contracts and joint-venture partnership documents, underwriting, understanding of financial statements, and reviewing third-party reports like (i.e. -PCA, Phase I, appraisal). Background as a paralegal or commercial real estate underwriter a plus. Understanding of bank, Government Sponsored Enterprise (GSE), and Commercial Mortgage Backed Securities (CMBS) lending programs and credit policies strongly desired. Candidate may also be responsible for updating DiversyFund’s financial models or operational reports.
All applicants MUST submit a Transaction History of Previous Properties Closed and/or Underwritten on the second page of their resume in order to be considered.
- Manages the entire closing process for multifamily investment transactions.
- Active member of the DiversyFund acquisitions team working directly with DiversyFund’s VP of Acquisition, lenders, brokers/sellers, outside attorneys, third-party vendors, and title/escrow officers to ensure that policy, legal, compliance and regulatory matters necessary for closing are addressed early in the process.
- Ensures that transactions are closed per terms and deadlines as stated in the PSA.
- Directs the loan closing process in accordance to DiversyFund’s master checklist and approved procedure and policies the completion of the master checklist to ensure timely and efficient execution.
- Manages the closing calendar, escrow deposits, and due diligence balancing the needs of multiple internal and external clients simultaneously.
- Request initial quotes, bind final policies and oversee other insurance (ex: flood insurance)
- Determines if internally generated documents or attorney prepared documents are needed and engages attorneys as necessary.
- Reviews and monitors all correspondence and documents from internal and external sources, and organizes DiversyFund’s closing documents on internal document drive.
- Will be responsible for closing one multifamily acquisition a month.
- Manage and negotiate contracts for the Company
- Bachelor's degree required in Business Administration, Economics, Finance, Accounting, or equivalent degree. MBA, MRED, or JD a plus.
- 5-8 years (MINIMUM of 4 years) of related commercial banking, real estate sponsor, and/or legal experience closing real estate investments.
- Strong analytical and acquisitions underwriting experience
- Proficient knowledge of commercial loan documentation and requirements.
- Proficient knowledge of multifamily underwriting and property acquisitions
- Proficient knowledge of loan regulatory rules (i.e., Insurance).
- Thorough knowledge of loan closing procedures and policies preferred, but not required.
- Complete knowledge of all aspects of the title and escrow process, settlement statements, prorations calculations
- Demonstrated ability to influence without authority.
- Demonstrated expertise in using effective problem solving and analytical skills with ability to handle and prioritize multiple tasks.
- Demonstrated expertise in coordinating task and resources and project requirements by breaking them down into task and engaging multiple internal and external partners to determine appropriate roles and responsibilities.
- Knowledgeable on workflow management and possesses strong organizational skills.
- Proficient in all Microsoft Office software.
- Excellent oral, written, and interpersonal skill
- Strong work ethic, attention to detail, and sincere desire to be a team player
- CRM, technology skills
- Results and KPI Driven
Qualifying Employee Profit Sharing Plan
Working remotely initially is a possibility during COVID-19
Health, Dental & Vision Benefits (w/ Company Contribution)
14 Days Paid Time Off (PTO)
Paid parking, gym membership, great downtown office location w/ concierge and shuttle
Positions available in Salt Lake City, Utah, San Diego, California, and remote work potentially
- Due Diligence
5+ to 7 years
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