Senior Asset Manager

Goldrich Kest (GK) is a diversified real estate development and management group of companies and partnerships. Its focus is to expand its portfolio of proven and well-located properties including multi-family, industrial, retail, commercial and congregate care through acquisition and development while providing stable cash flow to its partners and outside investors.

Position Information:

• Salary Range: $160k - $190k (DOE)
• Work Schedule: Monday – Friday (8:00am – 5:00pm)
• Exempt

We are building a team of driven individuals who appreciate a result oriented, but collaborative and casual environment.

GK is seeking a highly motivated and experienced Senior Asset Manager to execute on business plans and achieve financial objectives for GK’s real estate portfolio. The Senior Asset Manager will make recommendations to both property management regarding operational activity and to senior leadership team members regarding strategic actions with a focus on maximizing value and return on investment. This position will coordinate with Development and Construction, Operations, Property Management, Facilities, Finance, and Accounting to ensure that GK is working as a unified team focused on the goal of optimizing the financial performance of its portfolio while communicating results to key stakeholders.

This job description should not be interpreted as all inclusive. It is intended to identify the essential functions and requirements of this position. The incumbent may be requested to perform job-related responsibilities and tasks other than those stated in this job description.

• Operational Strategies: Work closely with the in-house operations teams (Property Management, Leasing, Marketing, Operations, Finance and Accounting, and Revenue Management) to ensure the successful implementation and ongoing monitoring of asset-specific operational strategies that maximize asset value; preparation of long-term financial projections and property specific operational goals.
  • Performance Monitoring: Detailed review of asset and portfolio performance on a monthly, quarterly, and annual basis with the overall goal of identifying operational inefficiencies and/or opportunities and implementing strategies to maximize ongoing performance (maximizing revenues and minimizing expenses and risk management).
  • Business Plan Strategies: Collaborate across functional groups within the organization to develop and implement the initial business plan strategy for the assets; monitor and adjust as necessary to ensure optimal value creation at asset and portfolio level; Prepare and deliver concise presentations to the executive team and ownership including recommendations to preserve, enhance and maximize asset and portfolio value.
    • Capital Projects: Analyze and assist in the monitoring scope, budget, and schedule in collaboration with Facilities for all significant capital improvement strategies to ensure they fulfill strategic business plan goals and objectives; participate in monthly status update meetings with capital project managers.
    • Reporting: Prepare investor-level reporting and communications; report up to senior management regularly regarding asset and portfolio-level performance.
    • Annual Budgets: Provide support and assist in the annual budgeting process (partnering with Finance and Accounting); perform detailed review of all budgets with comparison to pro forma and historical performance; obtain budget approvals from ownership.
    • Property Taxes: Work with cross-function teams in the review of property tax assessments and valuations to minimize real estate and special assessment tax expenses; work with 3rd party tax consultants to recommend and ensure successful tax appeal efforts.

• Benchmarking: Compare individual asset and portfolio performance to internal and external benchmarks; identify opportunities to exceed benchmarks or otherwise enhance asset performance.

• Financing Activities: Review and revise cash flow projections monthly to anticipate funding needs; coordinate capital calls with accounting as needed from Partner with accounting and treasury teams to evaluate and facilitate financing and refinancing strategies.

• 3rd Party Property Managers: Oversee and coordinate with 3rd party property management firms to ensure optimal property performance and reporting through strict systems and Compile overall 3rd party managed asset reporting to ownership on a regular basis.
• Acquisitions: Collaborate across functional groups within the organization to develop the underwriting for new acquisitions and execute due diligence; ensure successful transition and set up of new Work with 3rd party property managers and local real estate brokers to maintain contacts in target markets. Maintain an ongoing pipeline of qualified assets to acquire.
• Dispositions: Collaborate with cross-functional teams to implement successful strategies that optimize operating performance during the disposition process and ensure a smooth closing process and maximum sales proceeds.
• Lender Compliance: Ensure compliance with lender requirements and covenants including associated reporting, property inspections and performance/tracking of PCAs.

• Monitor real estate markets with a fundamental understanding of relevant industry submarkets where properties are held, including interest rate environment and overall economic conditions to evaluate on- going risks and opportunities; write investor letter narrative on an ad hoc and semi-annual basis for all properties in the GK portfolio.
• Performs other duties as assigned.

This role routinely uses standard office equipment such as laptop computers, smart phones, photocopiers, filing cabinets and other presentation materials.

• Eager to work in a fast-paced entrepreneurial environment with the ability to prioritize appropriately and act with a sense of
  • Working knowledge of multi-family property management and experience with apartment renovation and repositioning
• Highly analytical and experienced in comparative
• Assertive and efficient while communicating
• Self-motivated and driven to complete tasks without direct
• Highly motivated, with a positive "can do"
• Persistent and inquisitive problem solver
• An analytical approach with a results-oriented
• Ability to think like an owner in all decision making and embody the Entrepreneurial spirit of GK
• Detail-oriented with exceptional analytical skills and a mastery of financial modeling in Excel
• Open communicator with a collaborative approach and a respectful relationship style with colleagues and consultants

• 5-7 years’ experience in multifamily or commercial asset management, with at least 3 years in a managerial role or above

• Project Based Section 8 or other low-income experience preferred, but not required.
• Bachelor’s degree (real estate, business, or finance) with a strong record of academic achievement.

• Strong understanding of real estate investment concepts including asset underwriting and valuation process, discounted cash flow analyses, ROI, and IRR.
• Excellent MS Excel, Power Business Intelligence (BI) skills required.
• Strong management skills, with an ability to work independently and multitask.
• Communication and Interpersonal Skills: Excellent communication skills, both orally and in writing. The ability to communicate equally as well with on-site associates along with senior executives is very important.
• A demonstrated ability to create professional investment packages and present investment opportunities to senior executives is required.

N/A

This role routinely uses standard office equipment such as laptop computers, smart phones, photocopiers, filing cabinets and other presentation materials.

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand, walk, use hands to finger, handle or feel, and reach with hands and arms.

Work is usually performed in a normal office environment where there are little or no physical discomforts associated with changes in weather or discomforts associated with noise, dust, dirt, and the like, but may be performed periodically in disaster services areas and camp settings.

• Travel to properties in northern and southern California and across the nation will be required.