• Responsible for formulating the annual business plan for the assigned multifamily properties comprising the portfolio by establishing revenue and expense NOI and other key financial and operating targets, developing the annual capital and operating budgets, and formulating strategies that drive operations and financial performance of the portfolio.
• 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 client portfolio/performance reports, and monitoring capital / renovation projects.
• Communicates with Senior Management, head office multifamily team members and third-party management group 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.
• 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 stakeholders, and participates in formulating the long-term strategies for the assets.
• Leads and executes the implementation of revenue-enhancing and expense containments programs and initiatives of the property level, monitors resident turnover and satisfaction indicators, and identifies and acts on opportunities to drive operational excellence in the operation of the community’s asset enhancement initiatives (renovations, tenant amenity spaces, etc.).
• Ensure property operations within region of the portfolio are efficient, effective and in accordance with the approved business plans through the application of professional property management, leasing, marketing, financial and administrative standards.
• Oversee the direction, organization, staffing, compensation, training and leadership development of staff within the portfolio. Work with third-party management to ensure the provision of high standards of quality and service in a consistent manner throughout the portfolio with the purpose of maximizing tenant retention and long-term net income.
• Assist in potential property purchases and sales.
• Assist in the due diligence and transition of newly acquired assets.
• Maintain and strengthen relationships to ensure the successful execution of investment objectives within the context of the firm’s investment management agreements and policies.
• Manage relationships with General Account Portfolio Management within the organization as well as Third Party Management and joint venture partners (both investor partners and operating partners) with an emphasis on client relations with Third Party Investors, including regular investor meetings, presentations and property tours.
• Generate and deliver fund management, valuation committee and investor presentations.
• Manage third party service providers including property, leasing, construction and investment sales
The successful candidate should have a strong track record in the asset management of Multifamily residential. Value-added experience is required. He or she will possess in-depth knowledge and experience in real estate management, marketing, leasing and project management, particularly as they relate to the US markets in which the company operates. The successful candidate will be expected to demonstrate leadership skills and be a reliable team-player.
Reporting to the Head of US Real Estate Asset Management, the Managing Director, Multifamily Asset Management is responsible for the maximization of net income and operational performance standards of approximately 5,000 + units nationwide multifamily real estate portfolio in the United States (current markets include Atlanta, Boston, Chicago, Denver, San Diego, New Jersey, Washington DC, and San Francisco), with accountability for asset strategy, reporting, staff direction and third-party management oversight of property management, leasing, capital projects, including renovation projects. This includes accounts managed on behalf of the organizations general account, institutional clients, joint ventures, REIT’s, etc.
• A minimum of 10 years of real estate asset management experience (multifamily).
• Excellent understanding of the strategic direction, culture and mandate of real estate division and the ability to lead by example and communicate/model this to direct reports and field staff.
• Demonstrated ability to manage change, render effective decisions, think conceptually, exercise flexibility, and show good judgment in assessing complex management, staffing, and business issues.
• Third party investment management experience.
• Owner, operator experience or hands-on involvement with a vertically integrated asset and property management businesses.
• Exceptional presentation and communication skills, both oral and written; superior interpersonal skills.
• Superior analytical, quantitative and technical skills.
• Strong working knowledge of Yardi, Argus, Excel, and PowerPoint and yield management software (i.e. YieldStar)
• Rigorously organized and detail oriented, with the ability to multi-task.
• Entrepreneurial and self-motivated, with aggressive leasing attitude.
• Proven track record of building, leading, developing, and mentoring a team of customer-centric real estate professionals.