Real Estate Asset Manager
Prospect Capital Management seeks an exceptional Real Estate Asset Manager to join the real estate team in its asset management group. The asset management group assists in acquisition underwriting and due-diligence, monitors and reports on post-closing operating performance and capital improvement projects, and oversees the strategic direction for Prospect’s real estate portfolio of properties. The portfolio primarily consists of joint-venture equity investments in multifamily and student-housing assets.
In this regard, Prospect has acquired 88 multifamily, student housing, triple net lease and self-storage properties aggregating over $2.9 billion in gross asset value since 2012.
The Asset Management position requires strong academic credentials, prior experience in demanding real estate roles (especially multifamily real estate), and a desire to succeed in a challenging and competitive environment.
Founded in 1988, Prospect Capital is an alternative asset management firm with $6.7B+ of assets under management, including permanent capital. Prospect pursues multiple strategies in the US, including direct lending, private equity, real estate private equity and structured credit. Prospect has a long-term, value-oriented approach that employs fundamental bottoms-up research to identify investments that offer attractive risk and reward.
With offices in New York City, Connecticut, Georgia, Florida and Texas, the firm is comprised of 100+ experienced professionals who value entrepreneurship, intellectual rigor, hard work and continuous improvement.
- Manage joint-venture partner relationships through periodic update calls, property site visits, and analytical decision-making.
- Collaborate with operators and/or joint-venture partners to drive operating performance and property valuation.
- Develop strategic plans to enhance cash flow and profitability. Monitor, review, and evaluate their execution and financial operating results.
- Monitor, evaluate, and approve the release of funds for capital improvements and on-going property maintenance capital needs.
- Ensure that performance and investment objectives of assets are met.
- Identify operational problems that could impact investment values and recommend corrective measures to senior management and operating partners.
- Compose and review annual property operating and capital budgets.
- Review and analyze monthly and quarterly financial statements for each property.
- Assist with quarterly valuations for all properties.
Desired Skills and Experience
- 4-5 years of experience as an Asset Manager, ideally with an emphasis on Class B/C multifamily properties.
- MBA or Master of Science in Real Estate preferred.
- Knowledge of financial modeling and operating programs (Excel, Yardi, etc.).
- Ability to clearly articulate the strategic implications of a variety of financial and operational models as developed.
- Ability to effectively communicate with executives, members of senior management, and operating partners.
- Ability to influence others and win support on critical issues.
- Ability to prioritize, multi-task, and meet tight timelines.
- Ability to make key recommendations and decisions.
- Exceptional interpersonal, verbal, and written communication skills.
- Willingness to frequently travel overnight and for multiple days at a time.
- Asset Management
- Alternative Investments