Associate, Asset Management
4 weeks ago
- Salary range: 90K to 120K per year (DOE)
- Hybrid
This position involves the performance of office work directly related to management policies and general business operations. This position is primarily responsible for duties related to the overall asset management of properties, but also works closely with the acquisitions team with all aspects of financial feasibility throughout the project life cycle. This position focuses on overseeing property management, maintaining communication with partners, corporate accounting, and the acquisitions team. This position also provides critical support to the senior staff in connection with financial modeling, and budgeting and assessing potential and current projects.
ASSET MANAGEMENT
- Collaborate and liaise with joint venture operators, property managers, contractors to ensure that business plans are executed for each asset.
- Review and analyze weekly and monthly asset management/property management reports and financials to ensure that business plans/property performance are on track and on budget.
- Provide and recommend solutions to any operational issues that could impact the financial performance of an asset.
- Manage the cash flow and profitability of each asset in the portfolio and identify opportunities for value creation.
- Prepare portfolio monthly asset management reports, including variance analysis and commentary and ad hoc reports as necessary.
- Work with the Asset Manager during the budget cycle to review and complete budgets and annual business plans.
- Prepare refinancing and hold/sell analysis and formulate strategies accordingly.
- Collaborate with senior staff with execution of exits strategy and disposition process, including broker selection, negotiation with buyers and lenders, closing, etc.
- Prepare ad hoc portfolio and asset-level analysis and reporting as assigned.
- Process funding requests/distributions and related documentation as necessary.
OTHER
- Assist senior staff with financial modeling to implement plans and budgets consistent with the company’s development, acquisition, financing, leasing operating and disposition strategies.
- Develop, analyze, and update project proformas, budgets, and action plans throughout project life cycle.
- Provide financial update, market research and ad hoc reports to the team and executives as necessary.
- Conduct due diligence, managing third-party specialists such as appraisers, accountants, consultants, etc.
- Review legal documents; coordinate and work with attorney in drafting and updating contracts.
- Process other administrative duties as necessary.
EXPAT LIAISON / COORDINATION
- Integrate expatriate employees by providing training on US real estate markets and business practices.
- Cooperate with expatriate employees on internal approval process, including preparation of approval documents for acquisitions, asset management, and dispositions
OTHER EXPECTATIONS
- Customarily and regularly exercises discretion and independent judgment in carrying out work responsibilities.
- Performs assignments and tasks under only general supervision.
- Mentors junior staff on the team by providing guidance, advice, and feedback for them to work smoothly within the company.
- Seeks constant improvement, more efficient and less expensive ways and means in work processes.
- Performs special projects and other miscellaneous exempt-level duties as assigned by management.
- Maintains high ethical standards in the workplace.
- Communicates all irregular issues and problems to management for solution.
- Maintains good communication with management, office staff members and outside contacts.
- Complies with all company policies and procedures.
- Responsible for maintaining a clean and safe working area.
Qualifications
EDUCATION
- Bachelor’s degree (B.A.) from a four-year college or university in Real Estate, Finance, Business, Economics, Accounting, Math or related field, or an equivalent combination of education and work experience.
WORK EXPERIENCE
- Minimum 3-4 years of experience in asset management, acquisitions, real estate finance, or property management is required. Also experience with Multi-Family housing is a must.
- Strong analytical skills and working knowledge of MS Suite; high proficiency in MS Excel is required (must be able to model a waterfall),
- Experience in an institutional setting as well as experience interfacing with JV partners, lenders, and property managers is strongly preferred.
- Experience in reviewing financial statements/ Joint Venture Agreements/ Loan Agreements/ Property Management Agreements is strongly preferred.
- Experience in investment operations in any of the middle office, back office, and/or compliance preferred.
- Effective writing skills and ability to synthesize information, as well as verbal interpersonal/communication skills.
- Critical thinking, and analytical abilities to reasonably anticipate the needs of others proactively.
- Must be a self-starter and able to multitask, prioritize, and manage own projects and workstreams.
TOOLS AND EQUIPMENTS
- General office equipment including phones, fax, copier, personal computer, printer, scanner, etc.
- Software includes the use of Windows operating system and MS Office.
- IT Network or/and Web Development tools and knowledge preferred.
TRAVEL REQUIREMENTS
- Local travel: Occasionally
- Domestic overnight travel: 30%
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