Development / Construction Draw Processor

Essential Properties Realty Trust - Princeton, NJ

Full-time - Mid Level

Princeton, NJ

Real Estate

About the position

Essential Properties Realty Trust (NYSE: EPRT) is a publicly traded net-lease Real Estate Investment Trust located in Princeton, NJ that primarily invests in single-tenant, operationally essential real estate assets across a wide variety of industries within the service, retail, and industrial sectors throughout the United States. As of September 30, 2024, we have invested $5B and operate a portfolio of over 2,000 properties across the nation. The Development/Construction Draw Processor will work closely with the Development Team, Closing Team, and Outside Counsel during the acquisition and life of properties under construction. Duties include reviewing and processing construction draw documentation for tenants, as well as other ad hoc projects that may arise during the development lifespan.

Responsibilities

• Receives and timely processes monthly construction draw packages from tenants/developers for development-related deals.
• Review of initially-received documents during closing process and requests additional information as needed for construction scheduling and budgeting purposes.
• Review of all received documents against required documents in construction disbursement agreements for both mid-term and final draws.
• Correspondence with tenant/developer requesting additional information, clarification, and to confirm facts related to draw package and disbursement procedures.
• Review and confirms properly executed lien waivers, AIA Forms, and invoices.
• Files and labels documentation received.
• Tracks and updates development budgets against information received and draws made to tenants/developers.
• Processes occupancy reserves and/or interest equivalent charges.
• Draft disbursement letter as supplement to lease (for final review and approval).
• Prepares funding package for final review, including confirmation of wire instructions and payment request forms.
• Enters funding information and rent increase amendments associated therewith into company's accounting and tracking platforms.

Requirements

• At least three years prior experience in construction and/or development industry (includes construction lending related fields and construction law).
• Working knowledge of AIA forms and lien waivers.
• Ability to review and analyze construction disbursement agreements and lease documents.
• Must be detail-oriented and have strong organizational skills.
• Professional communication skills, both oral and written, for email and telephonic communication, as well as drafting of documents.
• All applicants must be authorized to work in the US.
• In-person attendance in office required (4 days per week).
• Ability to quickly learn and utilize various software systems.
• Self-motivated.