Listing Details


 

Interested and qualified candidates please submit a resume to:
Sierra Olney |sierra@kelleraugusta.com | 401-487-4898

Multifamily Asset Manager

Boston, MA

JOB DESCRIPTION

Company Overview:
Committed to excellence in both investment performance and operations, our client was founded in 1976 and has earned a reputation for integrity, creativity, and excellence, making it one of the premier integrated real estate investment, development, and management firms in the Eastern United States. Headquartered in Boston and with offices in New York and Pittsburgh, the company has a team of 100+ dedicated professionals who have invested more than $9 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique combination of capital markets, development and management expertise allows our client to nimbly tackle complex opportunities. Directly, and with its valued partners, our client has owned and managed approximately 28 million square feet of commercial space and 11,000 residential units. The firm invests in life science, multifamily, industrial, storage, office, hospitality, and retail among other property types.


Our client believes their most valuable asset is our people. They strive for excellence in all their pursuits and take pride in maintaining a collaborative and career enhancing experience for our employees. The company offers competitive compensation, top of the line benefits, and the opportunity to work with best-in-class real estate professionals in a fast-paced, challenging and rewarding environment.


Key Functions
• Administer the Multifamily asset management needs of all company assets, including Fund and Legacy properties.
• Work with the SVP of Asset Management as directed, to formulate and implement an asset management program for specific Multifamily assets. This effort periodically will also require exchanging information and coordinating with other teams including Investments, Investor Relations, Development and Property Management.
• Institute best practices and systems to obtain the highest possible return on the owner’s investment by timely consultation and approval of all projects from acquisition to implementation to disposition of the asset(s). This includes review of operating and capital budgets, assist with market information gathering, review of financial and performance assumptions as well as the development of new projects.
• Solicit input from management and formulate Multifamily business plans incorporating interdisciplinary and cross-functional review, analysis and recommendations for the future positioning or repositioning of the Multifamily assets.
• Assist with oversight of the portfolio to achieve our client’s developed and measurable Asset Management near-term and long-term goals and objectives.
• Active participation in providing our client’s greater visibility within the professional real estate, industry, prospective partners and public official communities.
• Assist the corporate staff, in coordination with the SVP of Asset Management, the formulation of value creation strategies in the quarterly review of assets within the Multifamily portfolio.
• Provide supplementary information and ancillary support to Acquisitions in sourcing deals, underwriting the investment, and completing due diligence for transactions in the Multifamily arena.


Responsibilities
Asset Management
• Develop a property business plan for each asset.
• 3rd Party Management Companies –assist the vetting, review of proposals, negotiate the PMA and supervise.
• Cash Flow Model/Valuation - Quarterly
• Revise and Update 5 Year Capital Plan
• Review and maintain rent structures based on market analysis and owner objectives.
• Analyze actual to budget profit and loss statements by property.
• Litigation and Risk Management: includes potential review of insurance needs of assets in the Multifamily portfolio and assessing and recommending coverage that meets those needs.
• Review with Property Managers all building operations to ensure timely collections of monies due and disbursements to vendors.
• Implement capital improvement programs.
• Comply with institutional and/or owner requisition requirements.
• Team member for all due diligence processes.

Property Management
• Institute programs to achieve the highest level of service to assure retention of current tenants/residents.
• Coordinate and oversee submission of cases to the Legal Department and assist in resolution of delinquent and problem tenants.
• Assist in the litigation of insurance claims and minimize property liability exposure.
• Review annual capital and operating budgets for owner’s review and approval, as prepared by the Property Manager(s).
• Review monthly management performance reports as prepared by Property Manager(s) and ensure the timely completion of same.

Leasing and Renewals
• Prepare and review leasing and marketing strategies.
• Review and approve all revenue management systems
• Commercial Assets: Oversee new lease negotiations and preparation and review of financial information on prospective tenants.
• Commercial Assets: Evaluate and coordinate all existing and new leases with the owners and financial institutions.
• Commercial Assets: Prepare all lease summary information for Owner’s execution.
• Commercial Assets: Approve annual rental goals, expense stops and tenant improvement amounts.


Acquisitions/Development/Sales
• Comply with the bid and award process for capital and tenant improvements.
• Assist with feasibility assessment of expansion plans or new development
• Pass along investment prospects and assist with providing market perspective, and critique underwriting assumptions for acquisition of new properties.
• Provide market data and asset performance analysis in support of quarterly portfolio review to help identify sales candidates.
• Provide guidance with sales underwriting, collection and organization of local property documents, and support with property due diligence involved in the sale of all assets in portfolio
• Ensure that all long and short-term construction projects are completed expeditiously and in a cost- effective manner.
• Responsible for all construction payment schedules and related reimbursements including compiling and submitting requisitions.