Director of Asset Management

Company Background: 

Abacus Capital Group (“Abacus” or the “Firm”) is a New York based investment management firm focused solely on the U.S. Multifamily market. Founded in 2004, Abacus serves institutional investors through a series of commingled funds and separate accounts.  Those funds target value-add, core and core plus investments.  The Firm’s portfolio spans the country having invested in all eight NCREIF regions.

Operationally Abacus specializes in market analysis, acquisitions, and implementing its proprietary business plans.  Those business plans are implemented through third party on-site service providers that report to Abacus.

Though Abacus is headquartered in New York, the Firm has regional offices in Los Angeles and Denver.  Dallas will represent a new regional office.

Position Background: 

The candidate will have the opportunity to open the Firm’s newly created Dallas office alongside a seasoned Abacus acquisition professional.  This team will be responsible for all value add and core investments in the Central Region, which comprises the area east of the Rocky Mountains and west of the Mississippi River.

A strong candidate will be a fiduciary first, with an understanding of the institutional investment landscape. Abacus takes an interdisciplinary approach to underwriting, debt markets, macro and submarket trends.  A candidate needs to be conversant in all aspects of multifamily investing and management.

The role requires an entrepreneurial spirit, attention to detail, a strong independent work ethic along with demonstrative skills to build and oversee teams.  The role seeks a candidate with strong problem-solving proficiency and adept people skills.  Abacus is a tight knit team, and the members strive for a strong work/life balance. 

Specific Responsibilities:

• Work alongside Abacus Acquisition team members to screen, acquire, and operationally improve Central Region assets.
• Partake in pre-acquisition due diligence focused on past operations and accounting.
• Review and approve acquisition underwriting for Central Region acquisitions and partake in the firm’s Investment Committee review.
• Hire and oversee third-party managers to implement business plans that the candidate co-authors.
• Detailed understanding of multifamily operations.
• Conduct onsite tours, and host weekly and monthly update calls.
• Oversee marketing strategies.
• Review daily pricing.
• Review yearly operational and capital budgets.
• Review monthly budgetary, costs and variance analysis.
• Review operational KPIs and benchmarks.
• Monitor and be responsible for all property level financial expenditures.
• Work with Abacus designers to repurpose or aesthetically improve properties with the goal of optimizing investment returns.
• Oversee value-add initiatives by in-house regional construction management.
• Ability to implement and oversee small capital projects .
• Advocate ESG initiatives.
• Understand the legal framework of multifamily investing and operations.

Skills/requirements:

• Undergraduate degree or MBA
• 7 to 10 years of direct real estate experience
• Proficient in Microsoft Office.
• Proficiency in Real Page is a plus.
• The ability to present to a group either internally or before investors.
• Travel (approximately 25%) to see regional acquisitions and the firm’s portfolio of assets.  Includes occasional trips outside the Central Region.