Real Estate Closer

Location: Burbank, CA (91503)
Company: Citi
Salary: $114,680 - $172,010
Industry: Real Estate
Job Type: Full Time
Posted: 52 days ago

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The Citi Community Capital (CCC) Business within Citi's Global Spread Products ( GSP ) Municipal Finance Division, is seeking to hire a new Real Estate Closing professional. As a member of the CCC Transaction Management team, the Real Estate Closer will play an integral part in ensuring the complete and timely closing of new construction loans from end to end. Once a loan is under application, the Real Estate Closer will work with the Production and Underwriting teams, interface directly with the project Sponsor, third party vendors, and outside counsel to ensure the loan is properly approved and all items on the closing checklist are completed. You will be the primary person to ensure the loan will be ready to close on the assigned date, and will organize deal team meetings to discuss timelines, flow of funds and equity partners on the deal.

Citi Community Capital (CCC) provides a suite of financial products to help affordable housing developers construct, rehabilitate, refinance, and acquire affordable multifamily housing across the country. Committed to the communities we serve, CCC finances both straightforward and highly structured transactions for non-profit and for-profit affordable housing developers, Community Development Financial Institutions, and state and local government agencies.

It is the mission of CCC to be the preferred financial partner for affordable housing developers, non-profits and governmental entities that focus on community development. We provide our clients with a distinctive, remarkable experience based on world class responsiveness, customer service, creativity and superior execution. This mission will be accomplished while delivering superior financial performance for Citi, consistent and impactful CRA results, and an inclusive and rewarding experience for our employees.

Job Responsibilities:

  • Review, analyze and manage new and rehab construction loan closings for affordable multifamily developments throughout the United States.
  • Responsible for confirming the overall sources and uses for new and rehab construction from closing through conversion.
  • Analyze the availability of the flow of funds during construction as it relates the construction timeline and anticipated construction draws.
  • Analyze complex capital stacks sources for a project including the nuances of the restrictions and requirements for funding the project costs.
  • Familiarity with affordable housing projects and the typical debt and equity parties involved in affordable transactions.
  • Review the closing draw back up and validate invoices pursuant to internal guidelines
  • Externally interact with borrowers, syndicators, legal counsel, and other transaction parties.
  • Internally interact with the bankers, underwriters, credit and engineering risk and loan administrators.

Required Skills:

  • Candidate is required to have a BA/BS. A minimum of 3-5 years' experience in real estate industry/loan administration or equivalent role is preferred. Previous closing experience with affordable multifamily deals preferred.
  • Individual must have excellent communication, organizational and interpersonal skills, and an ability to work effectively under tight deadlines.
  • The candidate must be detailed and quality assurance oriented; capable of working multiple initiatives simultaneously; and work collaboratively across teams within the Bank
  • Energetic individual who shows initiatives, is a team player, and has a positive attitude to change.
  • Ease with learning new systems/applications required. Demonstrates good excel skills, Quick learner and ability to work with minimal direct supervision.
  • Highly-effective influencing skills; the ability to be coordinate internal meetings with several parties (Underwriting, Legal, Compliance, Risk, etc.) to gather information and meet conversion conditions
  • Knowledge of commercial real estate legal documentation is a plus


Job Family Group:

Project and Program Management


Job Family:

Program Management


Time Type:

Full time


Primary Location:

Los Angeles California United States


Primary Location Salary Range:

$114,680.00 - $172,010.00


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Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.