What are the responsibilities and job description for the Asset Management Associate position at Gray Capital?
Overview
Gray Capital is looking for an Asset Management Associate. This position is responsible for managing and optimizing Gray Capital's portfolio of multifamily real estate assets. Key responsibilities include overseeing asset performance, spearheading the budgeting process, and collaborating with internal and external stakeholders to achieve investment objectives. This role requires strong analytical skills, attention to detail, and effective communication.
Key Responsibilities
Gray Capital is looking for an Asset Management Associate. This position is responsible for managing and optimizing Gray Capital's portfolio of multifamily real estate assets. Key responsibilities include overseeing asset performance, spearheading the budgeting process, and collaborating with internal and external stakeholders to achieve investment objectives. This role requires strong analytical skills, attention to detail, and effective communication.
Key Responsibilities
- Asset Performance Management
- Monitor property-level financials, including operating statements, rent rolls, and variance reports, to ensure performance aligns with business plans.
- Develop and track asset-specific strategies, including business development, capital improvements, and value-add initiatives.
- Spearhead the annual budgeting process, working with property management to finalize operating and capital budgets.
- Track performance against budgets, review variance analyses, and recommend actionable strategies for improvement.
- Stakeholder Collaboration
- Serve as communication link between property management, lenders, investor servicing and senior leadership.
- Prepare and present asset performance reports, budgets, and business plans to investors and other stakeholders.
- Data Analysis and Strategic Support
- Conduct market research to identify trends and risks impacting portfolio performance.
- Build and maintain financial models for forecasting, budgeting, and evaluating capital expenditures.
- Support acquisition, refinancing, disposition, and rehabilitation efforts with detailed financial and market analyses and due diligence review.
- Bachelor's degree preferred. An Associate's degree, high school diploma or GED from an accredited institution accepted with 1 to 3 years of relevant professional work experience
- 2-4 years of experience in real estate asset management, acquisitions, or a related role.
- Strong proficiency in financial modeling, Excel, and property management software.
- Excellent communication and interpersonal skills, with the ability to collaborate across teams.
- Ability to manage multiple projects and stakeholders simultaneously.
- Problem-solving mindset, with a systematic approach to challenges.
- Adept at using and learning new software and technologies.
- Must be willing to travel and visit properties (less than 25%).
- Other duties as assigned.
