As a key member of the Real Estate team, the Asset Manager will report to the President and Vice President and assume a strategic role in the overall performance of the portfolio.
Specific Job Skills:
- Primary responsibilities will include managing a portfolio of multifamily assets.
- Be a key thought leader in evaluating real estate opportunities in the portfolio and through the investment acquisition process.
- Oversight of third-party service providers.
- Reviews and approves property financial statements and property reporting, ensuring deadlines are met in an accurate and timely way.
- Prepares and delivers timely, accurate and complete reports. Develop and implement strategies for managing real estate assets and independently develop progress reports.
- Reviews and approves annual Operating Budgets and Business Plans for each asset. Ability to provide financial analysis, cash flow projections and operating budgets for projects.
- Monitors specific performance measures on a weekly and monthly basis to analyze historical operating trends for various property types, identifying variances and potential areas of risk associated with the operations of the property; strong understanding of operating proformas. Provides written analysis identifying key trends and issues, noting any corresponding mitigants. Discusses relevant issues and provide remedies.
- May perform risk ratings, create investor reports, and escalate issues accordingly, and manage credit risk and compliance documentation.
- Identifies process improvement opportunities and may create and update policies and procedures as necessary.
- Evaluates real estate assets to identify opportunities within the portfolio to convert underutilized assets to income producing assets, all designed to maximize overall portfolio value both monetarily and intrinsically.
- Visits all communities within the portfolio on a regular basis to oversee operations, including documentation of necessary action items and follow through.
- Acts as an expert in each Texas market, with a strong knowledge of competitive communities, the development pipeline and other economic drivers that could impact performance.
- Knowledge of public and private housing finance programs and related compliance requirements, including HUD, HOME, Section 8, IRS Section 42 and other programs.
- Engages in frequent verbal and written communication with internal and external parties which may include, lenders or equity investors and their representatives, outside counsel, agencies, special servicers, and potential investors.
- Working experience with Limited Partnership agreements, loan documents, regulatory agreements, service agreements, or other legal documents relating to conventional and affordable real estate transactions.
- Ability to understand, and to seek explanation of, complex written regulations from various government agencies.
- Strong analytical skills, as well as an understanding of accounting principles.
- Ability to work with large databases and datasets for extraction and conversion into useful business information.
- Excellent verbal, written and interpersonal communication and organizational skills with the ability to manage multiple projects simultaneously.
- Ability to cope with deadline pressures.
- Highly self-motivated with the ability to work effectively in a fast-paced environment.
- Analytical, negotiation, organizational, communication and leadership skills are required to effectively manage complex assets and relationships. Accounting and financial analysis skills also required.
- Ability to interact with all levels of management, work within a casual team environment and work independently.
- Strong negotiation and presentation skills.
- Strong technical and analytical skills with an aptitude for financial analysis.
- General understanding of real estate practices.
- Ability to solve unstructured problems.
- Understands the value of team approach and effectively uses teamwork to improve results.
- Proactive, takes initiative, thinks creatively, and drives projects to completion.
- Bachelor’s Degree in Business Administration, Accounting, Finance, Economics or real estate development or related field work experience required.
- 7-10 years of relevant real estate asset management experience proven track record managing a varied portfolio of multi-family communities.
- Minimum 5 years of experience in asset management and/or related LIHTC/affordable experience.
- Excellent working knowledge of software programs Excel, Word, Access, OneSite, and Yardi skills a plus.
Salary & Benefits:
- Salary: $80,000 to $120,000
- We offer a competitive benefits package including medical/dental/vision, paid vacation/holidays, and a retirement plan with company match.
- Work/Life/Fun balance in a casual and collaborative work environment! Team members enjoy company-wide events and celebrations.
Visit our website for more information about our company.
- Asset Management
- Portfolio Management
- Property Management
7+ to 10 years
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