Managing Director, Memoir Residential

2 weeks ago

Nashville, United States AJ Operations Full time
Job DescriptionJob Description

Reports to: Principal, AJ Operations

Location: Nashville, TN (in office)


ABOUT AJ OPERATIONS

An extension of Adventurous Journeys Capital Partners ("AJ Capital"), AJ Operations is the in-house management company for AJ Capital's hospitality, residential, office, retail, and entertainment assets. By leveraging resources across the company, AJ Operations expands upon AJ Capital's vertically integrated development approach and is responsible for driving operating performance and guest experience through the alignment of branding, real estate, and property operations. Projects managed by AJ Operations include Chief's, an entertainment venue in partnership with Eric Church on Broadway in Nashville, Memoir Residential, a multifamily platform initially launching in Nashville, Portland, and New Orleans, and Hotel 1928 in Waco, TX in partnership with Magnolia by Chip and Joanna Gaines, as well as many other exciting commercial, hospitality, and F&B ventures. AJ Operations will also manage 500,000 square feet of office space and 250,000 square feet of retail upon completion of AJ Capital's mixed-use project in Wedgewood-Houston Nashville.


ABOUT THE ROLE

The Managing Director, Memoir Residential will be responsible for assembling and overseeing a scalable residential operating platform (both above-property and property level), including all aspects of operations (including shorter-term furnished rentals), marketing, customer experience, strategy and growth for the new Memoir brand.

By leveraging resources across the company, Memoir will be an extension of AJCP's vertically integrated development approach, and as the leader of AJCP's in-house residential management company, this role will be responsible for driving operating performance and guest experience through the alignment of real estate, brand/creative, and operations.

There are currently three properties in the Memoir Residential collection: New Orleans, Nashville, and Portland. Memoir Wedgewood Houston in Nashville is complete, and the community welcomed its first tenants in April. Memoir Buckman (located in Portland, OR) and Memoir Warehouse District (located in New Orleans, LA) are both actively pre-leasing. Additional Memoir pipeline deals include a further Nashville presence, Austin, and Miami, with additional markets under consideration. All Memoir Residential projects are in dynamic mixed-use destinations that leverage AJ Capital's distinct placemaking and design approach.


WHAT YOU WILL DO

  • Lead functions including operations, technology, residential and short-term leasing, revenue management, food & beverage, e-commerce, property and field marketing, and efficiently staff complimentary overhead shared service support functions such as finance/accounting, HR, and corporate support.
  • Manage all aspects of the pre-opening process for all residential projects, including executing the platforms' brand vision and marketing strategy, managing operational project development and construction, establishing all operating infrastructure, and hiring staff.
  • Manage third parties in overseeing ongoing operations for all properties/projects (to extent applicable); ensure the organization is meeting or exceeding operational, financial, and cultural strategic and fiscal plans.
  • Grow top line revenue and identify new revenue streams across the platform and on a property-by-property basis.
  • Build market share through new and innovative methods, including differentiating through training and continuous improvement of service levels and tenant experience.
  • Cultivate strong relationships within the local residential and business communities relevant to each project.
  • Lead monthly operations reviews and respond to ad-hoc internal and external requests; liaise with lender and other capital partners.
  • Provide regular updates to company leaders on all residential management activities and forward-looking strategies to optimize performance and brand positioning.
  • Collaborate across AJCP departments, including Leasing, Asset Management, Design, Development, Strategy, Acquisitions, Legal, Accounting and Investment Committee.
  • Identify and diligence target markets for potential growth and perform market or asset-level reviews.

WHO YOU ARE

AJCP is seeking a highly motivated individual who enjoys working in a fast-paced, but disciplined, entrepreneurial environment. The ideal candidate will have extensive knowledge and experience managing bespoke residential and/or hospitality properties with a high-touch, hands-on approach and will also be very comfortable independently acting as a liaison between AJCP and external stakeholders. This role also requires the following capabilities:

  • Ability to create and effectively communicate brand/platform vision and growth strategy, along with supporting tactics needed for successful execution.
  • Ability to create an organizational culture that optimizes resources and emphasizes creativity.
  • Demonstrated management and supervisory skills to lead, evaluate, and mentor subordinates and peers, as well as third parties.
  • Strong initiative and customer service orientation, with a hospitality mindset and eagerness to engage directly with stakeholders.
  • Meticulous attention to detail and the highest standards for accuracy, timeliness, and precision.
  • Ability to deal effectively with ambiguities and manage multiple projects through completion, often under tight deadlines, with competing priorities and minimal supervision.
  • Critical thinker who takes the lead in solving complex problems.
  • Strong work ethic and drive for results.

YOUR QUALIFICATIONS

Required

  • 10+ years of management, operations and asset management experience in residential real estate and multifamily property management.
  • Experience opening and managing a large real estate portfolio and creating value across operations, brand and real estate appreciation.
  • Experience establishing new operations and technology and managing through rapid growth.
  • Bachelor's degree in business, finance, real estate, operations, or related discipline.
  • Deep knowledge of residential industry trends, best practices, rules, and regulations.
  • Strong understanding of finance/financial statements, operations, capital budgeting and other KPI metrics.
  • Industry, broker, property manager and capital relationships
  • Working knowledge of Yardi or Argus reporting.
  • Proficient in Microsoft Office Suite.

Preferred

  • Experience managing 10+ large, upscale multifamily residential properties.
  • Relevant industry certifications.
  • Transactional (acquisition/disposition) experience.
  • Real estate license.

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