TruAmerica Multifamily is a Los Angeles-based investment firm specializing in acquisitions, value added asset management, capital improvement renovations and rehabilitation of Class B or better multifamily housing in the Western United States. With over 30,000 apartment units currently under management, TruAmerica has cultivated the best talents in the industry to create a first-class multifamily investment platform and asset management operation.
Candidate may reside in the Arlington, VA or Orlando, Florida area.
Responsibilities and Duties
A TruAmerica Director of Asset Management is responsible for the strategic implementation of all initiatives detailed within the approved business plan and asset management oversight of their portfolio of assigned properties. Responsibility includes successful execution of the stated financial, and operational goals. Leading clear and concise communication to our owners and partners is mandatory. Balance sheet management is expected at this level.
Tasks and Responsibilities
Strategizes with property management to establish the revenue, expenses, NOI, and if appropriate, renovation, capex and the subsequent rent lift associated with the overall business plan at underwriting and any approved changes to the original business plan, in the form of an annual capital and operating budget. This strategy must be clearly communicated to property management and to the equity partners. Each property has specific guidelines with budget due dates and reporting requirements that the Director must ensure compliance with.
Analyzes monthly operating statements and reports to the owners and partners any variances as compared to the budget and business plan incorporating the strategy of an action plan if necessary, proactively managing cash flow, resolving always to the business plan or better.
Forms a close relationship with property management personnel at all levels to successfully monitor the daily operations by conducting routine site visits and inspections, discussing weekly leasing, occupancy, capex and/or renovation program to maximize the profitability of each asset. Conducts monthly financial reviews on each asset with PMC.
Prepares and performs quarterly financial reviews with JV Partner and CEO/COO of TruAmerica.
Responsible for being the key contact with the debt and equity providers and investment principals maintaining compliance with the various investor/equity agreements, monitoring the asset performance, returns and recommends operational or financial strategies to optimize returns at the asset level.
Proactively analyzes economic trends for each specific asset sub-market, and the region as a whole, and forecasts trends that affects the property in regard to long/short term disposition and exit strategy changes indicated by market info.
Responsible to team with the Capex department to plan for, track, or focus on the capex business plan so execution of the plan stays on time and within budget. Works with the Acquisition Team in conducting new property inspections, setting up DD, and working in collaboration on underwriting.
High level management of turnover, resident satisfaction, reputation management, revenue management, key revenue-generating vendors, and any other opportunity to maximize income and minimize expenses.
Completes any other financial or market report and analysis or other duties deemed necessary
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Ability to sit/ stand for up to 10 hours per day
- Ability to move freely for up to 10 hours per day
- Ability to hear; must be able to communicate verbally and in writing
Preferred Experience/ Minimum Qualifications
College degree in real estate, finance, business or specific job experience of 5 years or more.
Related job experience that showcases financial analysis capability.
Excellent communication skills, good spelling and writing ability which assists in managing relationships with clients, equity partners, team members and business leaders.
Proficient in word, excel, outlook, and various property management software programs which will assist in required reporting.
Proficient in mathematical skills required for financial reporting.
Experience in real estate investments, asset management with experience in property management oversight and related operations, and marketing.
Why Join TruAmerica Multifamily?
- We’ll give you the autonomy and resources to make an impact
- Competitive Compensation and Bonus Eligibility
- Opportunity to invest with other employees in an executive pool
- Employer sponsored benefits (Medical, FSA, Dental, Vision, Long Term Disability and Life) package including 401k with employer matching contribution
- Competitive Vacation that respects your time away to observe, have fun or simply rejuvenate
- Generous employee engagement initiatives and more!
TruAmerica Multifamily is proud of our commitment to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
NO RECRUITERS PLEASE...
Job Type: Full-time
Salary: $100,000.00 to $150,000.00 /year
- Asset Management
- Portfolio Management
5+ to 7 years
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