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Asset Manager

Salary
Competitive
Employment
Full Time
Work Place
Part Remote
Real Estate Field
Location
San Francisco
 CA
Postal Code
94111
Country
United States

This job is no longer active.

Description


Company Overview

Prime Residential owns and operates a multibillion-dollar portfolio of multifamily apartment communities in West Coast markets. Prime is currently seeking an Asset Manager to lead asset management of its portfolio of assets in the Pacific Northwest and collaborate with Prime’s acquisitions team in evaluating new investment opportunities.

Prime’s portfolio contains approximately 17,000 units across 40 properties in California, Oregon, Washington, and Nevada. With over 350 corporate and site-level employees, the company focuses significant resources on identifying new acquisition opportunities, making ongoing investments in its existing portfolio, and maintaining its sophisticated in-house property management capabilities. Prime is currently investing its most recent fund, raised in 2020, and completed more than $1 billion of combined equity and debt transactions over the last two years. This is a role for someone with a growth mindset who is excited to join a dynamic private firm.

The person who will be most successful in this role is a self-starter who is curious and resilient. Prime is an opportunistic company that embraces new ideas and always seeks to improve.

Reporting Relationships and Responsibilities

The Position can be based in San Francisco, Portland, or Seattle.

The Asset Management team relies on data and Operational insights to drive financially sound long-term decisions in the best interest for each asset. The Asset Management team utilizes internal and external data from several sources including RealPage and PowerBI. 

The Position will be responsible for maximizing the long-term cash flow growth of each property in Prime’s Pacific Northwest portfolio. The includes working with the operating team to establish and update a business plan for each property, working with the capital team to create a 10-year plan for each asset that maximizes net present value to Prime’s investors while minimizing risk, and reporting to ownership on the performance of the assets. This includes evaluating potential value-add reinvestment in each property.

The Position will also work with the acquisitions team to evaluate new opportunities and to utilize Prime’s data from its existing portfolio to make the best possible investment decisions.

The Position’s responsibilities related to the existing portfolio include:

  • Analyze asset-level financial statements to observe successes and areas for improvement and implement recommendations.
  • Track and compare financial performance related to asset-level budgets and underwritings.
  • Forecast long-term cash flow for each asset.
  • Apply local knowledge of topics such as employment, infrastructure, government regulation, and supply.
  • Regular visits to each property.
  • Evaluation of property-specific long-term contracts such as cable and laundry.

The Position will from time to time represent Prime in the marketplace and network within the real estate community. This will include determining the appropriate contacts within other management companies and investment groups.

 

Desired Characteristics and Competencies:

  • Leadership skills – A self-starter with excellent communications skills who relishes a leadership role in a lean, private investment company.
  • Team orientation – Success will require working collaboratively with all of Prime’s internal departments.
  • Growth mindset – Someone who is open to feedback and constantly seeking to improve.
  • Asset management experience – A seasoned real estate asset manager with hands-on experience, financial background, and an owner’s perspective.
  • Value-add execution – Experience in managing renovation projects, including oversight of construction/project managers.

Candidate Qualifications and Experience

At least five years of experience in the multifamily industry (or equivalent combination of education and experience) is preferred. Hands-on multifamily asset management experience is preferred although strong candidates with hands-on experience in other real estate sectors are encouraged to apply. Travel is expected to be about 20-25% of the Position’s time.

The position offers an exciting opportunity to join a growth-oriented organization with a genuinely enjoyable work environment. Compensation will be competitive and will include exceptional benefits which include comprehensive medical, dental, vision, prescription, FSA, company-paid holidays, personal days, commuter transportation benefits, vacation, and more.


At Prime Group, we don’t just accept difference — we celebrate it, we support it, and we thrive on it for the benefit of our employees, our business, and our community. Prime Group is proud to be an equal opportunity workplace. 

 

 

Job Sector


 

Experience


5+ to 7 years


This job is no longer active.

Asset / Portfolio Management Residential San Francisco Full Time CA Asset Management, Financial Analysis, Portfolio Management SF Associate, Acquisitions & Asset Management other