Associate Director/Director Multifamily Asset Management

Posted Thursday, September 5, 2024 at 8:00 AM

The Associate Director/Director of Multifamily Asset Management actively works with the Denver based multifamily property management teams, asset management teams and other corporate disciplines, reporting to the SVP Asset Management and Operations. Focus will be on the multifamily assets (1,600+ units) with the overall goal of optimizing cash flow and property values. The position will play a key role in developing and executing on both portfolio and property specific strategies, evaluating operational performance against relevant comparable properties and industry benchmarks, analyzing capital investment decisions and how they impact value, and facilitating preparation of required reporting deliverables.

The ideal candidate will have experience working in a fast-paced, results-driven environment.

ESSENTIAL DUTIES & RESPONSIBILITIES

• Responsible for the execution of the business plans across the multifamily investments.
• Assists in the creation of property business plans and the annual budgets.
• Regularly reforecast budgets based on current performance and the local operating environment.
• Perform regular site visits and property inspections.
• Review monthly operating reports for each property, including financial statements and variance explanations, accounts receivable and capital expenditure schedule.
• Track current and historic portfolio and property level results in comparison to industry benchmarks and comps.
• Provide ongoing analysis of metrics including market data, property operations data, and in-depth analysis on operating expenses and revenues in a proactive manner to identify trends or concerns that may need attention from property management.
• Work closely with the construction and maintenance teams to set long-term capital and preventative maintenance plans for each asset.
• Develop and maintain a thorough understanding of each property's comp sets and stay current on their performance and the local operating environment.
• Stay current on the Denver apartment market including occupancy/leasing trends, concessions, new construction supply, etc.
• Work with the Accounting Group to maintain and monitor debt covenants, including projecting future compliance.
• Stay current on multifamily operations technology and industry trends and evaluate products for implementation.
• Assist with the underwriting of new acquisitions and development projects providing input on operational and market assumptions.
• Identify, recommend, and execute asset management initiatives to increase revenue, decrease expenses, and capitalize on market opportunities to mitigate risks.

KNOWLEDGE, SKILLS, & ABILITIES

• Excellent written and verbal communication skills, including writing reports and business correspondence.
• Ability to effectively present information and respond to questions from groups of managers, partners, vendors, and brokers.
• General accounting knowledge and ability to understand and interpret financial statements and operational reports.
• Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, and government regulations.
• Thorough operating knowledge of current state of the multifamily financial and analytical tools.
• Advanced computer and software skills including Word, Excel, and PowerPoint.
• Ability to appropriately prioritize and manage multiple requests at once.
• Organized, detailed, reliable approach to duties and communication.
• Consistently professional, collaborative, and responsive approach to customer service and interactions with colleagues.
• Strong ability to self-motivate, take initiative, and manage time to accomplish duties and projects independently.
• Excellent judgment and ability to ask for help in critical applications.
• Ability to define problems, collect data, establish facts, and draw valid conclusions.
• Excels in a fast-paced, results-oriented, collaborative team environment.

QUALIFICATIONS & COMPETENCIES

• Bachelor’s Degree in related field, real estate or finance degree preferred.
• 7+ years' experience in real estate with direct experience in multifamily asset management and operations.
• Demonstrated success delivering operational results on a portfolio of multifamily assets.
• Experience working for an apartment REIT, developer or operator.
• Advanced MS Office suite skills (Excel, Word and PowerPoint).
• Experience with Yardi Accounting system strongly preferred.
• Must be able to provide proof of eligibility to work in the U.S.

Physical Requirements:

• Must have the ability to remain in a seated position (80%).
• Must have the ability to speak and hear clearly (100%).
• Must have the ability to lift office products and supplies, up to 20 lbs (20%).
• Must have the ability to stoop, kneel, bend and reach (10%).
• Must have dexterity to write and manipulate computer keyboard and mouse (100%).

SCHEDULE

This position is full time permanent. Working hours are during normal business hours.

TRAVEL

Travel as needed to meet job requirements.

WORKING CONDITIONS & PHYSICAL REQUIREMENTS

Duties are conducted indoors in environmentally controlled conditions. Due to current and potential future local, state, and federal government orders concerning the COVID-19 pandemic, working conditions may be adjusted as necessary to provide employee safety and comply with applicable ordinances. The company is considered an “essential service,” and in-person work may be required. The company will take all possible measures to increase employees’ safety.

COMPENSATION

WAGES

• This position is paid an annual salary.
• Starting wage: $145,000.
• Exact salary is determined within the stated range by merit; seniority; production rate and/or quality; geographic location; education, training, and/or experience related to job duties and responsibilities; or travel required by the position.
• Potential additional compensation includes annual bonus.

BENEFITS

• Employee benefits include:
  • On and off-site job specific training.
  • Medical, dental, vision, and life insurance.
  • 401k with company matching.
  • Generous paid leave on a schedule according to tenure.
  • Rent discount for BREG properties.

STATEMENT

The qualification requirements, physical demands, and work environment characteristics described in this job description are representative of those that must be met by an employee to perform the essential duties and responsibilities of this job successfully. This job description in no way states or implies that the essential duties described are the only responsibilities involved in the position. The employee is required to follow any other instruction and to perform any other duties by any person authorized to give instructions or assignments. This job description in no way states or implies a contract of employment. Broe Real Estate Group reserves the right to modify this job description at their discretion at any time, and will notify the employee of the change. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential duties and responsibilities.

We are an equal opportunity employer. At Broe Real Estate Group, we are committed to creating a diverse environment and are proud to promote inclusiveness in everything we do. We provide equal employment opportunities to all employees and applicants for employment and prohibit discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws. Broe Real Estate Group is also committed to compliance with the Americans with Disabilities Act (ADA). While performing the duties of this position, the employee is regularly required to talk, hear and see. We will ensure that persons with disabilities are provided reasonable accommodations.