Asset Manager, Director

Company Overview

Jair Lynch Real Estate Partners ("JL" or "Jair Lynch") is a leading real estate investment and development firm specializing in the transformation of walkable urban places. With a strong focus on creating extraordinary places, JL has successfully acquired, developed, and managed a diverse portfolio of residential, commercial, and neighborhood assets. We are committed to fostering a culture of creativity, teamwork, diversity, and excellence while continuously improving everything we do.

Job Summary

We are seeking an enthusiastic and detail-oriented Senior Asset Manager to join our team. The Senior Asset Manager is responsible for overall project execution for assigned income producing properties and ensuring JL consistently meets business plan objectives, schedule, budget, and return metrics. Project execution will include understanding project underwriting, refining market positioning, leasing oversight, revenue maximization, operating expense management, property condition maintenance and capex implementation, capital budgeting, property manager supervision, debt and regulatory compliance, risk management, and real estate tax assessment appeals. The Senior Asset Manager will work on multiple income producing assets simultaneously and must be able to work in a fast-paced, multiple responsibility environment, balancing competing priorities and several project assignments. Senior Asset Manager will be supported by a Vice President, Director of Project Management, associates, the Investment Management team, and others as necessary. Your contribution will help optimize our asset management practices and drive the success of our real estate portfolio.

Duties & Responsibilities

• Lead the execution of the business plans for a diversified portfolio of mainly multifamily assets, many with an affordable component. High level tasks include tracking key business plan activities, reviewing operational metrics, and monitoring achievement of investment returns
• Manage day-to-day relationships with third-party property managers
• Oversee leasing efforts and other operational areas including regulatory compliance (e.g. Section 42 – LIHTC), risk management, capital budget, etc.
• Conduct asset operational performance review meetings with property managers to go over performance, budget variance, cap ex spending, etc.
• Prepare reporting for capital partners including monthly reports, regulatory compliance documentation, quarterly investment dashboards and annual business plan updates
• Make regular site visits
• Negotiate project contracts and agreements, including commercial leases and third-party contracts with consultants like attorneys, insurance brokers and construction consultants when applicable
• Assist with equity capital calls from conventional equity providers, as well as LIHTC investors
• Review market, economic, and capital trends affecting the performance of the project; recommend changes to the Business Plan as needed based on trend analysis
• Assist with updating project proformas for changes to operating, capital market, and investment assumptions on rents, operating expenses, cap ex needs, etc.
• Participate in periodic valuation of assigned assets and make sell / hold recommendations in tandem with the Investment Management team
• Periodically review property for non-operational valuation creation opportunities, e.g. bulk wi-fi, storage, land monetization, etc.
• Interact with resident associations, community groups, and political leaders
• Support other Jair Lynch teams on debt and equity closings for acquisitions and refinancing or supplementals for stabilized assets, as needed
• Mentor and coach Asset Managers and Associates working on assigned deals or in the group

Competencies

Requirements

Benefits