Associate, Asset Management

Michael Page has partnered with a real estate acquisitions and development firm looking to grow their Asset Management team.

Client Details

Our Client is a nimble real estate acquisitions and development investment firm who own and develop multifamily properties across the region. They have an existing portfolio of stabilized assets but will complete several projects this year which will nearly double the portfolio.

Description

Newly created Associate, Asset Management will lead the implementation and execution of strategies, programs, policies, and initiatives for existing and future multifamily assets. The Associate, Asset Management will ensure achievement of the financial and operating goals, and overall profitability of the portfolio.

Selected responsibilities:

• Participates and assists in formulating the annual business plan for the assigned assets
• Reviews, monitors, and reports on the portfolio's performance against budget and investment proforma by analyzing monthly operating and income statements, researching and taking appropriate actions to address variances, managing and monitoring cash flow, and preparing monthly and quarterly portfolio/performance reports.
• Communicates with and closely interacts with the Principals of the firm and on-site team members to monitor the daily operation of the portfolio by conducting routine site visits and inspections, reviewing weekly leasing, occupancy, and revenue reports, addressing policies, procedures and compliance issues and developing strategies and programs that maximize the performance of the portfolio.
• Manages and oversees the portfolio's compliance with the established debt and equity providers, develops and provides reports to the investment principals and equity partners, monitors investment performance, returns and forecasts through financial modeling, and recommends ways for optimizing returns at the asset level.
• Gathers, complies and analyzes market, economic, and capital trends and factors impacting the performance of the multifamily portfolio, prepares and delivers presentations and updates to investment principal/investment committee, and participates in formulating the long-term disposition and exit strategy for the assets.
• Works with the third party contractors and/or construction staff to plan for capital improvements; reviews and monitors progress on existing project to ensure on-time and on-budget completion.
• Leads and executes the implementation of revenue-enhancing and expense containment programs and initiatives

Profile

• B.S. Degree in Accounting/Finance and 4 years' equivalent experience within Asset Management or similar.
• Specific asset management experience with multifamily assets in secondary and tertiary markets highly desired. Experience within affordable/LIHTC a plus.
• Experience with capital improvement project management.
• Experience at interpreting limited partnership agreements, financial statements, and regulatory documents
• Strong analytical skills, above average excel skills.

Job Offer

Market driven base salary plus bonus potential along with benefits such as health insurance, retirement etc. The role will roughly pay $90,000 to $110,000 on the base depending on experience. This is a target range and there may be some flexibility for the right person.

MPI does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, disability, veteran status, marital status, or based on an individual's status in any group or class protected by applicable federal, state or local law. MPI encourages applications from minorities, women, the disabled, protected veterans and all other qualified applicants.