Description
ASSET MANAGER
About Avanath:
Avanath Capital Management, LLC (Avanath) is a boutique real estate investment firm focused on opportunities in the affordable and workforce multifamily housing sectors, which demonstrate strong long-term fundamentals and are underserved by institutional capital. Founded in 2008, Avanath invests in high-quality multifamily communities in established residential neighborhoods and focuses primarily on coastal markets with high income growth and a significant supply/demand imbalance. Avanath’s communities typically benefit from amenities found in market-rate multifamily properties. Avanath’s target markets comprise 7.5 million apartment units and represent approximately 25% of the apartment inventory in the United States. Avanath is pursuing a national consolidation strategy, creating long-term value with the implementation of higher-level property and asset management, strategic property investments and enhancements, and the creation of greater operating efficiencies.
Primary Duties and Responsibilities:
- Maximize total returns for each assigned asset through analysis of property efficiencies and identification of opportunities for improved performance.
- Create and oversee customized asset management solutions.
- Work closely with asset management team members to support the execution of property-level business plans, budgets and forecasts.
- Work closely with in-house property managers to provide direction for and oversight of business plans, budgets, forecasts, analysis and approvals.
- Provide input and assistance in pre-acquisition due diligence and underwriting process, including review of financial and operational assumptions.
- Act as liaison between property management and ownership.
- Provide asset management guidance for strategy changes and adjustments during the asset holding period, including divestiture.
- Assist with the production of quarterly investor reports and provide responses to ad hoc investor due diligence requests.
- Prepare memorandums and presentations for internal use regarding property performance, capital improvements and dispositions.
- Aggregate and update property-level data for asset management purposes.
- Perform property site inspections on a regular basis.
- Oversee the implementation of capital improvement plans.
- Perform market research and comparable property analysis using third-party software.
- Other tasks as requested by the COO or other senior members of the asset management team.
Skills and Requirements:
- Minimum 5 years of previous experience in real estate.
- Bachelor’s degree and strong academic record.
- Demonstrated asset management experience.
- Demonstrated experience in multifamily real estate. Experience in affordable multifamily real estate (including LIHTC and HUD) a plus.
- Proficiency in Microsoft Excel, Word and PowerPoint. Experience with Yardi a plus.
- Excellent analytical and problem-solving skills.
- Excellent written and verbal communication skills.
- Highly professional, organized and detail-oriented.
Experience
2+ to 5 years
This job is no longer active.