Asset Manager

Role

The Asset Manager is responsible for monitoring and maximizing an assets performance and ensure it meets or exceeds the business plan for build-for-rent projects. This individual will oversee the Property Manager to ensure they are carrying out the Company’s objectives, vision, and financial performance. Duties will include analyzing project operational and financial reports, creating and monitoring operating metrics, recruiting Property Managers and conducting market research on demographic trends and competition’s performance. The Asset Manager will be responsible for the implementation of the Company’s specifically design program for each asset as it relates to project marketing/branding, amenities, project culture and ensuring the Company’s mission, values and goals are communicated to the ultimate customers. The Company works as a dynamic team so although the role requires a focus on these duties, you may be asked to take on variety of unrelated duties to support other team members to ensure successful execution of real estate projects and carrying out the corporate mission.

Responsibilities

Daily responsibilities include, but are not limited to:

• Analysis: Evaluate and meticulously analyze operating and financial reports provided by Property Managers to identify mistakes, deviations from pro forma projections or areas for improvement.
• Optimization: Identify creative ways to maximize an assets value in accordance with the pro forma and beyond the original projections such as strategic or capital improvements.
• Recruitment and Vetting: Source and vet Property Managers, Marketing companies and other vendors required to execute each project’s business plan.
• Program Implementation & Enforcement: Implement the Company’s and each specific project’s program & strategy to ensure it meets the business plan expectations and creates the desired culture and feel for each community. Work with marketing companies and property managers to achieve a specific branding program that drives tenant retainage and targeted customers.
  • Actively participate with the investment and development teams during the initial analysis of potential acquisitions and development projects. Provide feedback regarding key assumptions based upon market data.
  • Participate as part of the team at project inception. Maintain active dialogue with development team during construction process to ensure compliance with major business plan objectives. For example, the asset manager will approve (with the developer) potential scope changes (i.e., value engineering).
  • Upon substantial completion of development projects, assume direct responsibility for business plan execution, focused initially on successful lease-up and stabilization.
• Operating Metrics: Establish and manage corporate scorecards of operating metrics that allow leadership to track the performance of assets across the portfolio.
• Reporting: Generate detailed financial, operating and market research reports for leadership, investors and lenders as needed.
• Research: Maintain a continuous pulse on market conditions and trends by conducting extensive research and presenting it to the team members. Work with Acquisitions to maintain a database of comps and their performance, qualities, and features. Track transactional data too.
  • Participate in strategy discussions regarding areas of focus for new investments. Maintain best-in-class working knowledge of the region/market, including asset class performance, capital markets, and the competitive environment. The knowledge should be driven by direct contact with actual market participants in addition to 3rd party research reports.
• Site Feasibility: Provide input based on performance of assets and market research to the Acquisitions team in their underwriting and pro forma creation process.
  • Participate as a key team member in the due diligence and pre-development process; and endorse, or challenge, as the case may be, the key assumptions prior to ICOM review.
• Broker Relations: Source, vet and manage brokers in the asset sales process. Gather anecdotal data from the brokerage community about transactions and performance of assets in the sector.
• Debt & Equity Relations: Participate in meetings with investors and lenders and provide docs or data upon request.

Qualifications

• Bachelor’s Degree in Business, Real Estate, Accounting or Finance required
• Asset or property management experience preferred in the multifamily or SFR sectors
• A Minimum of 5 years of career experience in real estate investment, real estate management, accounting, or finance fields
• Successful candidates will demonstrate a high proficiency in analytical thinking and financial review of assets
• Proficiency with Microsoft Office Suite, with strong Excel skills
• Demonstrated strong written and verbal communication skills
• Ability to effectively communicate/work with others
• Great presentation skills
• Ability to work independently
• Proficiency with verbal and written communication
• Ability to work in a fast-paced environment
• Ability to multi-task
• Ability to work in a team environment
• Ability to follow and execute instructions