Interested and qualified candidates, please submit your resume to:
Sierra Olney | firstname.lastname@example.org | 617.247.0505
New York, New York
Our client is seeking an AVP to VP-level professional to join their asset management team and assume responsibility for a portfolio of 10 to15 market rate and affordable multi-family investments. Experience with JV partnerships, debt and equity structures, waterfall calculations and models, operations software and team leadership skills are required.
Asset Managers manage all phases of ownership to include acquisition, development or rehabilitation, business plan execution, operations and financial monitoring, investor relations, and disposition. Telecommuting will be considered if the candidate lives in one of our primary investment markets.
Primary duties and responsibilities:
Interface with property managers, development partners, consultants, and investors to ensure timely delivery of property reporting, including financial statements, business plans, budgets, and other reports
Track property compliance with reporting deadlines and other critical project level milestones
Construction and renovation oversight and review and approve capital calls and construction/rehabilitation loan draw requests for funding
Track and update key project milestones
Lead the property management team and hold 3rd party management agents accountable for business plan deliverables
Prepare investor reports and other property or portfolio reports as required
Assume responsibility for property performance and consistently evaluate marketing and leasing, deferred maintenance and capital improvement plans, staff, affordable housing compliance, if applicable, and best practices
Review annual budgets, audits and tax returns for each property and make recommendations as appropriate
Prepare quarterly portfolio status report and update financial projections for each property/Fund for investor quarterly report
Site visits and inspections
Manage any litigation or other legal aspects of ownership such as transfers of GP or LP interests, zoning related matters, etc.
Assist in underwriting and due diligence with new acquisitions by reviewing operating budget, capital budget and market comparables
Review all relevant closing documents, including partnership agreements, loan agreements and management agreements and abstract deal documents when necessary
Participate in recapitalization, refinancing or disposition of assets under management
Evaluate possible Business Plan modifications during hold period and prepare and present Investment Committee presentations
Collaborate with accounting, acquisitions, and investor relations and mentor junior members of the asset management team
Perform other duties as required
Bachelor’s degree and/or advanced degree in real estate or closely related field and at least five years of
direct asset management experience
5-7 years of asset management experience
At least three years of multifamily asset management experience.
High level of proficiency in Excel (candidates complete an Excel test as part of the selection process)
Impeccable attention to detail and work quality
Strong analytical capabilities and financial modeling proficiency
Solid interpersonal skills, team-player, and sophistication to liaise with the firm’s Executive and Investment
teams as well as Investment Partners
Self-starter with ability to work independently
The ability to manage time and maintain a challenging schedule
Ability to multi-task and prioritize work and meet deadlines.
Some travel to properties is required
Salary and title are commensurate with experience. Benefits include 401K plan and major medical.