What are the responsibilities and job description for the Transaction Manager position at Lotus Company?
Transaction Manager
Background
Lotus Company is a venture capital and real estate development company with close to $1B of projects in the pipeline. We are seeking to grow transaction team with the addition of a Transactions Manager (“TM”) who has real estate and transaction experience, ideally within a real estate firm.
The ideal candidate will be familiar with the real estate development and ownership process and have a passion for managing great places and actively contributing to the long-term ownership of quality assets.
Job Description
The TM acts on behalf of the owner as a transaction coordinator to ensure that the Company effectively implements financial and real estate transactions using best practices.
The role of TM requires a combination of financial and real estate knowledge, communication abilities, and a strong understanding of real estate investment principles. This individual works to protect the owner's interests and facilitate the successful execution of real estate transactions.
This role will report to the President & COO and interact other senior team members in accounting, acquisitions, capital strategy, construction, development, and investor relations.
Responsibilites
The Transaction Manager position includes the following responsibilities:
- Coordinate transaction-related functions and requirements with internal and external stakeholders (Buyers, Lenders, Investors, Vendors, and internal departments)
- Manage loan and property closing transaction timelines and process with internal and external parties to ensure timely and accurate settlements
- Track all finance, refinance, acquisition and disposition transactions
- Complete validation and quality checks of required data reports, validation of data provided by third party reviewers, vendors, and sellers.
- Review title reports and other land records to identify any discrepancies, legal issues, business risks or other concerns
- Manage relationships and contracts with title companies and other service providers
- Leads cross-functional teams to close new construction and permanent loans, land acquisitions, focusing on negotiating and solving key commercial, legal, and technical issues.
- Obtain, review and coordinate lender approval of insurance carried by the borrower
- Prepare estoppels, SNDAs, and lease abstracts, review estoppels
- Schedule and coordinate calls; draft and/or manage transaction submission and closing checklists to ensure all requirements are met timely as a condition to closing fundings and dispositions
- Prepare and process reports for submission to state and other government bodies to comply with regulatory requirements
- Track loan covenants and reporting requirements
- Maintain organized and accurate transaction files, and upload to central document management system in a timely and organized fashion
- Assist with special projects on an as needed basis.
Required Experience
- Minimum of Three (3) years of relevant work experience with a financial or real estate firm, preferably with exposure to real estate investment or development. LIHTC / Affordable Housing exposure a plus.
- Experience with loan financing and commercial Real estate transactions
- Proficiency with Microsoft Office products (Word, Excel, PowerPoint, Access Database),
- General legal documentation experience
Required Education
- Bachelor’s degree in accounting, business, or finance. Juris Doctor (JD) or master’s degree a plus.
Compensation
Job Type: Full-Time
Pay: DOE, with discretionary bonus and other incentive programs
Location: 215 S. State St., Floor 13, Salt Lake City, UT
Benefits
- Eligibility for Lotus Company’s employee benefit package including health, dental, and vision insurance, where eligibility begins 30 days after employment.
- Paid Time Off (PTO) – 10 Days as accrued throughout year.
- 10 Paid Holidays as detailed in Lotus Holiday Calendar.
- 401K enrollment (dollar-for-dollar match for the first 3% of salary differed and 50% contribution for the next 3% of salary deferment – with a minimum 6-month employment required prior to enrollment)
- Eligibility for discounted rental rates at Lotus-owned apartments
Salary : $70,000