What are the responsibilities and job description for the Asset Management Associate position at Waterford?
Waterford Property Company is a diversified real estate investment and development company with an established track record in land development, entitlements, acquisitions, and repositioning of commercial and multifamily properties.
The company has collectively acquired or managed over $3 Billion in projects throughout California. Waterford prides itself on its ability to plan, build, and reposition unique real estate projects that meet or exceed the needs and desires of local stakeholders while maximizing risk-adjusted returns for investors.
Position Overview
The Asset Management Associate will be focused on the multifamily division, assisting with day-to-day operations and long-term performance of the 6,000-unit portfolio in California.
The ideal candidate holds a bachelor's degree and has at least 1-2 years of experience in multifamily ownership operations or property management.
Key Responsibilities
- Support the Asset Management Team in resolving operational issues affecting property performance by maintaining detailed property-level reports.
- Produce weekly, monthly, and quarterly reporting on individual property and portfolio performance, including comparable market data and demographics for internal review with principals.
- Assist the Asset Management Team in executing capital expenditure and construction assignments, including design, budgeting, and contractor coordination.
- Support the team in reviewing, creating, and executing property budgets to meet revenue, operating expense, and capital expenditure goals.
- Liaise with property management, debt providers, vendors, and contractors to achieve specific property goals, manage risks, and evaluate cash flow improvement opportunities.
- Interface with the Accounting Department to maintain compliance with property regulatory requirements, project budgets, and forecasting.
- Participate in due diligence and closing activities.
- Lead preparation of internal and external presentations.
- Work on special projects as assigned.
Qualifications
- Bachelor's degree required in real estate, finance, business, or accounting.
- Preferably 1-2 years of professional experience in real estate operations or multifamily property management.
- Well-versed in Microsoft Office Suite, with emphasis on Excel, Word, and PowerPoint.
- Proficiency in creating financial models for real estate financial analysis using Excel.
- Excellent writing skills and PowerPoint presentation preparation.
- Strong analytical, quantitative, and communication skills.
- Basic understanding of financial statements, use of comparative data, and financial forecasting.
- Ability to work in a challenging, fast-paced environment, handle multiple projects simultaneously, and travel as needed.
- Accuracy and attention to detail are critical.
- Willingness to question assumptions, demonstrated passion for continuing education, and strong interest in the built environment.
- Integrity and collaboration are essential.
Compensation/Location/Timing
- Competitive Salary with Bonus potential
- Healthcare Benefits offered
- Hours: M-F, 8am to 5pm
- Location: Work primarily from our Newport Beach office, with flexibility to work from home when approved
- Timing: Immediate