Description
Position Summary
A Rockland County real estate investment firm with a portfolio of over 7,000 multifamily units is seeking an Asset Management Associate for its growing Asset Management Team. The company focuses on the acquisition and management of quality income-producing multifamily properties within strategic growth markets throughout the United States. Through a rigorous value-enhancement program that includes thoughtful renovations, operational improvements and ancillary income development, the company aims to reposition each asset with the goal of maximizing NOI, elevating its competitive position within the market, and providing attractive risk-adjusted returns for its investment partners.
Position Duties and Responsibilities
• Monitor, record and analyze relevant operational metrics such as occupancy, traffic, renewals, effective returns, rental collection rates.
• Review monthly property financial statements to identify issues and points of improvement.
• Track capital projects and associated costs to ensure projects are within budget, and calculate the associated ROI, where applicable.
• Review loan and contractual documents for key terms and ensure property compliance.
• Work with property managers to prepare reserve draw requests, as needed, on capital expenses for which funds are escrowed by the servicer.
• Perform cash flow analysis and projections to help determine the property’s financial health as well as investor returns such as IRR and equity multiples, under various fee structures.
• Prepare and analyze quarterly asset management property reports for large variances and provide narratives to be used in investor reports.
• Review and approve, in tandem with the asset manager, annual budgets prepared by property managers.
• Prepare and update reforecast models as necessary, and working with the asset manager to make investment decisions on future business plans.
• Maintain and update insurance and property tax information throughout the portfolio.
• Collaborate with third party professionals such as legal counsels, tax experts and insurance brokers.
• Review company marketing materials to ensure informational accuracy.
• Assist in the processes of acquisitions and dispositions as needed.
• Other ad-hoc projects and miscellaneous tasks assigned as needed.
Knowledge and Skills
• Bachelor’s degree required.
• 2+ years experience in multi-family real estate asset management and/or acquisitions required, preferentially in an institutional background.
• Highly proficient with Microsoft Office, specifically Excel and is able to create and maintain complex models. Experience with major property management systems such as Yardi and RealPage a plus.
• Self-starter who is highly analytical and is able to think critically and proactively.
• Well organized and able to work in a fast-paced environment.
• Excellent communication and interpersonal skills and the ability to work in a team setting.
• Understanding of the general accounting principles a plus.
• Ability to travel up to 25%.
This job is no longer active.