What are the responsibilities and job description for the Transaction Manager position at Westwood Financial?
Job Summary
This position is responsible for the day-to-day transaction management. Administrative responsibilities include drafting LOI, providing schedules for contracts, coordination of due diligence material, calendar management, monitoring internal / external workflows to ensure consistent quality of service and work product.
Key Responsibilities
Dispositions –
Maintain disposition pipeline, actively engage with Operations to ensure leasing and management activities are occurring in concert with a planned disposition
Coordinate BOV process with outside brokers and provide appropriate materials
Prepare hold / sell materials and work with SVP to submit to Investment Committee
Review offering memorandums for accuracy and messaging
Liaise heavily with property management and accounting to address Tenant issues pre-marketing and throughout Buyer’s diligence; act as a strategic buffer between property operations and buyer
Coordinate internally with Capital Markets to ensure asset’s loan is prepared for sale
Prepare prorations, review closing CAM reconciliation, closing statement. Work with attorneys and title company to ensure buyer and seller parties have appropriate items in place for closing
Ensure post-closing obligations are occurring in concert with contract requirements; ensure entity dissolution occurs as needed
Acquisitions –
Oversee engagement and scheduling third party vendors (physical, environmental, property tax, zoning, lease abstracts, ADA, Property Insurance, etc.), collaborating with Director of Construction as needed
Responsible for all due diligence; ensure all questions are answered and ensure information flow is efficient. Bring material matters to SVP’s attention
Work with leasing, property management, and accounting post-closing to ensure successful onboarding and drafting transition memos
Assist in preparation of underwriting and other associated materials
Oversee all closing mechanics (document review, closing statement, etc.) and coordinate resources to satisfy closing conditions
Work with accounting post-closing to ensure post-closing conditions are met relative to funds per contract
Other –
Coordinate with legal counsel to ensure transactions are completed in a tax efficient manner, consistent with legal requirements and liquidity needs
Review all Transactions related invoices, and input into AVID for SVP approval; ensure costs remained tracked
Track critical dates for all transactions
Prepare Investment Committee memorandum for Acquisitions
Assist heavily with annual NAV (aggregate information internally and communicate with brokers)
Complete various ad-hoc analyses as requested
Coordinate legal review of all documents
Serve as an active participant in contract negotiations
Assist with the development of standard forms and procedures
Provide suggestions for process and technical improvements related to the transaction process
Ensure Certificates of Insurance have been collected on acquisitions / dispositions as required
Ensure all wire transfers are setup and / or received as required
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