As a key member of the Asset Management team, you will be responsible for helping to execute the business plan created by the development/acquisitions team.
Develop and implement strategic business plans for each asset that will govern its daily operations, position in the market, and ultimate disposition.
Monitor asset performance and provide key diagnosis to enhance asset value and performance.
Lease up of multifamily assets including the initial business plan, a lease-up and stabilized budget, unit absorption and lease-up timeline, unit delivery inspection and acceptance, initial revenue and unit pricing plan, monthly cash management, and monthly reporting to investors and development group.
Collaborate with the multifamily development team on unit layout and design, amenity selection, and provide NOI maximizing operating insight.
Overseeing third-party construction managers for shell tenant improvement buildout including cost reconciliation actual versus budget.
Diagnose and respond to property performance, market challenges, occupancy issues, and various other drivers of asset financial performance.
Create cash flow projections, analyze, and recommend investor capital calls and distributions.
Review monthly revenue and compliance reporting with a high focus on producing investor and lender reporting while providing feedback and guidance to third-party management.
Conduct regular site inspections to monitor performance and execution of tasks, ensuring asset quality and marketability.
Monitor and review market trends, submarket data, and area supply indicators to maximize strategies at the individual asset level.
Monitor and maintain compliance with all lender requirements.
Monitor timely payment of taxes and insurance premiums.
Monitor all escrow accounts and operating cash accounts to ensure they are properly funded.
Oversight of 3rd party property management.
Risk Management Participate in developing risk management strategies for the asset portfolio.
Assist with due diligence and follow-up on property transactions.
Required education and experience:
Bachelor's degree in business, real estate, economics, finance, accounting, or equivalent experience.
3+ years of relevant experience in multi-family development
Experience in multifamily lease-ups, capital investments, tenant improvements, and dispositions is a plus.
Experience in asset management of real estate investment portfolios, real estate with operations and analysis, budgeting, financial reporting, and general accounting, or other relevant experience.