20/20 Foresight Executive Talent Solutions | Asset Manager Associate
5 days ago
Company
The Company is a high-growth privately held, real estate development and investment firm, with a primary focus on the residential space, including ground-up and value-add multifamily and mixed-use projects throughout Texas. The company has recently raised a substantial amount of capital through institutional investors to take advantage of the current dislocation in the residential space that is accelerating their growth. The company seeks to be institutional in its operations while staying true to its entrepreneurial and family/team-oriented culture.
Position
The Company is looking for an Asset Manager/Associate - Multifamily to oversee the management and operation of a growing portfolio of multifamily properties throughout Texas. The Director will coordinate and manage the execution of each asset's business plan and be responsible for all aspects of the property’s life cycle post-development or post-acquisition, to maximize asset value and efficiency, including directing all external parties. The ideal candidate must have a “roll up your sleeves” mentality with a desire to be a part of the fast-paced company and work within a team of other highly motivated individuals committed to the company’s vision and culture.
Responsibilities
Daily responsibilities include, but are not limited to:
- Oversee and execute the lease-up and stabilization of ground-up multifamily developments and the renovation and stabilization of existing multifamily assets (including unit and clubhouse renovations).
- Prepare and present semi-annual asset management reports to senior executives.
- Lead all aspects of budgeting, financial forecasts and adjustments to business plans for assigned assets.
- Stay abreast of market and industry trends and bring forth new and fresh ideas to increase asset value.
- Conceptualize, implement and execute value-add strategies, including expense reductions, revenue optimization, staffing optimization, lease expiration management, process improvements, capital improvements, asset repositioning, asset refinancing and hold / sell / recapitalization recommendations.
- Provide direction and oversight to property managers and contractors in all regards, including the following: property management, expense management, capital improvement oversight and comprehensive leasing oversight.
- Conduct frequent site visits, property inspections and management meetings at key properties.
- Manage the preparation of cash flow projections and quarterly distributions or capital calls.
- Evaluate and recommend capital expenditures and supervise the execution of large capital projects including unit and clubhouse renovations.
- Provide leadership, project management, oversight and reporting for development and capital projects, including management of all third parties and the consultant team.
- Assist in managing the debt financing, refinancing, and asset dispositions.
- Provide material support for due diligence activities associated with property acquisitions.
- Interface with and manage consultants, brokers, vendors, attorneys and other third parties.
- Review operating statements or project expenses of each asset on monthly basis and evaluate financial performance relative to internal forecasts to report key variances and recommend actions as warranted.
- Prepare or review and approve monthly and quarterly reporting for each asset.
- Ensure compliance with owner, lender and partner compliance, approval and reporting matters.
- Proactively review, analyze and report on market and economic trends for each sub-market and forecast trends that may affect the property regarding long/short term reposition and exit strategies.
Qualifications
- Must have ground-up and lease-up experience in multifamily (required).
- Established track record of business plan development, execution, and value creation across multiple commercial and residential asset classes.
- 2-5+ years of experience in multifamily asset management.
- Bachelor’s degree (master’s degree preferred), specializing in Real Estate, Business, or Finance.
- Strong track record of improving portfolio operations.
- Experience designing or improving asset management processes & systems.
- Ability to cultivate, grow and harness the collective power of a strong industry network.
- Strong decision-making skills with ability to think and act like an owner.
- An analytical approach with a results-oriented mindset.
- Strong management skills, with an ability to work independently, multitask and lead by example.
- Highly motivated, with a positive "can do" attitude.
- MS Excel, Yardi skills.
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