Asset Manager

Founded in 1984, L M has over 500 professionals and has been responsible for more than $20 billion in investment, development, and construction, having created or preserved nearly 35,000 high-quality residential units (and together with LMFM, more than 57,000 units) in the New York City metro area, the West Coast, Sunbelt, the Midwest, and Gulf Coast regions. L M is recognized as a preeminent platform within the real estate industry and is nationally ranked in the top 5 among affordable housing owners, according to Affordable Housing Finance’s rankings.

L M Fund Management (“LMFM”) invests in and operates workforce and affordable assets on behalf of institutional investors and, to date, has acquired ~22,000 units and consummated $4.8 billion in transactions. LMFM has raised more than $1 billion of total equity across multiple investment vehicles. LMFM is an affiliate of L M Development Partners LLC.

Please visit our website for more information: http://lmdevpartners.com. To learn more about our mission and values, go to https://lmdevpartners.com/mission-and-values/.

Opportunity
The asset management team oversees all asset-level decisions. This team sits at the center of our investment management and property management teams, serving as leaders and collaborators with every function throughout the organization. The team seeks a highly motivated individual to drive the group’s strategic initiatives, monitor financial performance and oversee property operations.

Responsibilities

• Manage a diverse portfolio of affordable and mixed-income multifamily assets across New York City, Atlanta, Dallas, and Austin markets. Monitor and evaluate financial operating results to enhance cash flow and profitability by completing monthly financial reviews and reviewing property data.
• Evaluate overall performance to assist in strategic business planning. Assist in establishing and enforcing benchmarks, guidelines, and policies.
• Work collaboratively with property management to identify challenges and execute timely and effective solutions. This includes management of budgets, staffing, capex, and other property programs.
• Efficiently manage third parties, including Property Managers, Consultants and Attorneys, to provide clear direction and skill-based leadership in executing on both the portfolio’s strategy and the specific asset’s business plan.
• Oversee renovation execution, including initial planning, working with general contractor on delivery timelines, and monitoring impact on leasing, rental rates, etc.
• Conduct regular site visits as needed to include but not limited to review of: curb appeal, status of capex projects, common area and vacant unit inspections, and personnel issues.
• Assist in annual budget preparation and approval process for assigned portfolio.
• Effectively present information and respond to questions from Fund Partners, and other stakeholders involved in the property and portfolio.
• Oversee and ensure compliance with all regulatory programs associated with individual properties within assigned portfolio.
• Identify areas in need of performance improvement.
• Monitor and analyze specified market conditions, using the area’s internal and external financial and economic data. Proactively respond to dynamic market conditions. Monitor ongoing current and future trends in demographics, job growth, economic drivers, product supply, as well as any other market forces.
• Monitor and analyze property operating financial metrics to help guide underwriting assumptions for existing portfolio and future transactions.
• Develop forward looking financial models that track performance and returns, including preforming buy/hold analyses, financing evaluations, and portfolio-level analyses of portfolio performance, etc.
• Assist in monitoring property valuations and identifying opportune moments to sell / refinance current property.
• Work closely with senior management on larger, complex deals while taking the lead on assigned portfolio with ad hoc support from SVP.

Qualifications

The ideal candidate will have the following qualifications:

• Minimum of 3 years of multifamily asset management experience.
• Self-motivated and proactive with an established track record of working effectively and independently.
• Real estate private equity or fund background preferred.
• Experience with affordable housing programs, including project-based Section 8 preferred.
• Strong financial modeling skills and proficiency in Microsoft Office Suite.
• Proven track record of success and leadership, with past accomplishments clearly demonstrating an understanding of operations, financing, leasing, marketing, investment, and ownership issues.
• Superior analytical, quantitative, writing and technical/computer skills with proficiency in Excel and PowerPoint, including the ability to build and modify formulas and models for a variety of investments, joint ventures and fund structures.
• An intuitive and detailed sense of the dynamics and risks of each transaction. This person should have the ability to "look beyond the numbers" at the broader trends.
• A team player, able to work in an entrepreneurial environment, balance changing priorities, and meet deadlines.
• Excellent interpersonal and communication skills (oral and written).
• Strong organizational skills and attention to detail.
• Travel will be required.

This is a remote position; however, candidates must reside near Austin, TX, Atlanta, GA, or Dallas, TX.

LMFM offers competitive compensation and benefits and tremendous potential with a growing residential real estate developer/builder organization.
LMFM is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
Disclaimer: Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.