What are the responsibilities and job description for the ASSET MANAGER position at Ascension Search Partners?
This full-time position will be based in the companys office in a prestigious area in Dallas, TX. This team member will be responsible for establishing long and short-term goals to maximize the value of multifamily investments while overseeing activities to affect that strategy.
Specific duties include communicating as appropriate with senior management, 3rd-party property management personnel, and other vested third parties and venture partners. In overseeing execution of the investment goals, the Asset Manager will prepare business plans, annual budgets and reforecasts, constantly monitor and review operating trends and assumptions, prepare financial projections and monitor daily operations of the properties including the market / leasing efforts. Travel may be required on an as-needed basis.
Primary Responsibilities :
- Quarterbacking all operational activities within the assigned portfolio. Monitor property performance in relation to proforma, budgets and industry averages.
- Assist in developing and executing operational and disposition strategies.
- Evaluate property performance against the background of informational resources, periodic property visits, market tours and review of financial reports. This includes hold vs. sale analysis and periodic reforecasting.
- Closely monitor and adjust leasing parameters to achieve and maintain attainable housing compliance requirements.
- Providing ownership oversight of the implementation of large capital investment decisions.
- Evaluate all projects cost of capital and work to lower and enhance the overall portfolios cost of capital through new financing, restructuring, etc.
- Remain actively involved in all significant legal issues impacting property value and / or corporate publicity.
- Monitor rents, concessions, traffic trends, comparable transactions and development activities that might affect a subject investment.
- Develop a thorough understanding of markets assigned and prepare market reports as requested.
- Manage the annual budgeting and business planning process.
- Maintain a thorough understanding of all partnership agreements and loan documents including lender approval, compliance and reporting requirements.
- Monitor property tax assessments and coordinate protests where applicable.
- Participate in the assessment and underwriting of future business opportunities.
- Assess data to ensure that relevant and accurate information is utilized to evaluate reasonable and achievable cash flow assumptions, demographic goals, market rents and concessions, operating expenditures, capital needs and overall operational goals.
Educational / Experience Level :
