Job Description
Asset Manager
Our ideal team member will be responsible for Asset Managing Multifamily Assets:
- Monitor a growing portfolio of multi-family properties located in the Southeastern United States
- Oversee, report on and enhance property operations with a goal of:
- Accurately and systematically reporting clearly and concisely property performance against a variety of goals
- Increasing performance against those goals, and,
- Protecting and ensuring the long-term viability of assets
- Analyze property assets, recommend and implement improvement strategies to maximize operational performance of the portfolio
Travel: Approximately 35%. Must have a valid drivers’ license.
Essential Duties & Responsibilities:
- Under the direction of the VP – Director of Asset Management, oversee the operations of the company’s investment properties
- Create, solicit input, then distribute quarterly performance reports to investors
- Review and monitor monthly operational reports and evaluate property performance:
- Summarize operations for review by principals
- Highlight property performance vs. goals
- For adverse issues
- Investigate issues by interacting with the management company
- Document explanation from management company
- Solicit/create plan(s) for remediation, including cost and schedule, and build a consensus plan with the management company and MACP
- Document and report on progress towards goal
- Highlight/expose patterns around adverse issues
· Maintain database of critical information for each deal (loan terms, ownership structure, required repairs, reserve balances, capital flow etc.) and track key items and dates
· Create and maintain investor return scenarios per asset in relation to distributions, refinancing, sale
· Create, implement, and maintain a communication policy for investors and partners involving direct interaction and social media
- Oversee our compliance with lender and insurance operational and deferred maintenance requirements
· Assist in deal closings including soliciting 3 rd party reports, receiving and organizing reports and data, and related tasks
· Assist with organizing and backfilling information on older transactions
· For new construction or acquisitions with value-add improvements:
o Maintain schedule and cost budget
o Provide weekly updates on progress
o Highlight delays or concerns
- Research and understand driving forces in individual property markets, recognizing when trends might be working with or against our investments
- Provides support and analysis to our management partners with the goal of increasing profitability and reducing risk
- Identify partnerships that require Watchlist status and develop strategies to address all issues
· Travel periodically, but no less frequently than quarterly, to each property for general observation of condition, meeting with property management staff, reinforcing performance goals
- Assist in maintaining and updating company’s profile on social media
- Performs other duties and responsibilities as assigned
Qualifications
Knowledge and Skills:
Knowledge of:
- Institutional asset management
- Advanced concepts, principles and practices of multi-family real estate/housing operations, including property inspections, property management and property maintenance
- Knowledge of real estate finance.
- Knowledge of institutional investment strategies and partnership structures
- Accounting principles.
Skill in:
- Strong analytical skills & financial acumen
- Use of MS Office products
- Document Management technology
- Communication, both orally and written
- Follow-up to ensure resolution and completion of tasks
- Operating standard office equipment and using required software applications to produce correspondence, reports, electronic communication and spreadsheets
Educational/Previous Experience Requirements:
Bachelor’s Degree (B.A.) in related field and a minimum of five (5) years of multi-family asset management experience
~or~
Any equivalent combination of experience, education, and/or training.
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