Asset Management Associate

Terra, the award winning, Miami-based real estate development company carefully chooses projects that have a positive impact on their surroundings and, by extension, on the people who live there. When planning a new development, Terra takes a dynamic role with the city and neighborhood to activate its potential as a community, maximizing the way in which people are able to live and work; creating new and innovative ways for the urban & suburban landscape to evolve. The firm has cultivated a portfolio of more than five million square feet of residential and commercial real estate valued in excess of $8 billion and is active across all major real estate asset classes, including multifamily apartments, luxury condominium and single-family residences, retail and office space, hotels, and industrial properties. Terra has achieved international acclaim for its commitment to design excellence, resiliency measures, and sustainable development and has been continuously transforming South Florida into the prosperous metropolis we know today.

We are looking for an Asset Management Associate to join the team!

Job Overview:

The Asset Manager will be responsible for managing and optimizing the financial performance of residential multifamily and retail properties within the company’s portfolio. This role focuses on developing and executing asset strategies, monitoring financial performance, and maximizing returns on investments. The ideal candidate will have a strong understanding of both residential and retail asset management, with the ability to analyze market trends, financial metrics, and identify opportunities for portfolio growth.

Responsibilities

Portfolio Management & Asset Strategy:

• Develop and implement tailored asset management strategies for both residential multifamily and retail properties to maximize value and profitability.
• Monitor and analyze the financial performance of each property, including occupancy rates, rent growth, operating expenses, and net operating income (NOI).
• Transition assets from development into operations and stabilization, ensuring business plan execution and collaborating closely with development and construction teams.
• Identify opportunities for capital improvements, cost-saving measures, and revenue-enhancing initiatives.
• Lead the strategic planning for portfolio growth, working closely with senior management on acquisitions, dispositions, and new developments.

Financial Oversight & Reporting:

• Prepare and review detailed financial reports, including monthly/quarterly performance reviews, budget forecasts, and variance analysis.
• Collaborate on refinancing analysis, loan maturity planning, and capital stack structuring.
• Conduct financial modeling, including cash flow projections, internal rate of return (IRR), and return on investment (ROI) for both residential and retail assets.
• Ensure accurate and timely reporting to internal stakeholders, investors, and third-party partners.

Market Research & Competitive Analysis:

• Conduct in-depth market analysis to understand trends in rental rates, retail leasing activity, and competitor performance.
• Evaluate local economic conditions, demographic shifts, and retail trends that impact asset performance.
• Adjust asset strategies based on market conditions, identifying opportunities to enhance property value and mitigate risks.

Investor Relations & Communication:

• Maintain regular communication with investors, providing updates on property performance, financials, and strategic initiatives.
• Present asset performance and future plans to internal and external stakeholders, ensuring alignment with overall company objectives.

Risk Management & Compliance:

• Monitor and mitigate risks associated with market fluctuations, tenant turnover, and operational challenges.
• Ensure properties are compliant with local, state, and federal regulations, including tenant laws, safety standards, and environmental requirements.

Acquisitions & Dispositions Support:

• Assist in the underwriting and due diligence process for potential acquisitions, providing financial analysis, market insights, and asset performance evaluations against market and company benchmarks.
• Support the disposition process by preparing assets for sale and coordinating with brokers, investors, and other relevant parties.

Required Skills & Qualifications

• Bachelor’s degree in finance, accounting, economics, business administration or related field (MBA preferred)
• 4 – 10 years’ experience in asset management or related field preferred
• CFA, CTP and CPA preferred

As a team member at Terra, you’ll enjoy:

• Career advancement and bonus opportunities
• Comprehensive benefits package, including health, vision, dental insurance, and FSA (Flexible Spending Account).
• Employer-paid life and disability insurance.
• Employer matching 401k.
• Employee team building events.
• Company paid monthly lunches.
• Paid Time Off and paid Holidays.