Director, Asset Management

3 weeks ago

Phoenix, United States CareerBuilder Full time

We

are seeking a highly skilled and experienced Director, Asset Management

Portfolio Strategy to oversee a diverse portfolio of properties, including

lease-up and stabilized to protect and enhance the value of NexMetros

portfolio of real estate properties to ultimately achieve or improve the

targeted returns for NexMetros investors. The successful candidate will be

responsible for optimizing the performance and value of these assets through

strategic management and decision-making. In the execution of their duties,

they will play a pivotal role in financial analysis, budgeting, rental rate

and revenue strategy, operating expense control, capital improvements, asset

recapitalization and disposition, lender and broker relationships, investor

reporting, managing and mentoring analysts in the successful completion of

their work, and any portfolio-wide initiatives. This position will be

managerial and located in Phoenix, AZ.

Responsibilities:
Management of the Asset Performance:
Analyze local market trends to determine competitive

positioning relative to rents, occupancy, common and unit amenities, unit

finishes, and any other property attributes.
Develop and implement pricing strategies to

maximize property revenue considering market dynamics, property performance,

targeted results, and financing strategies.
Monitor the lease-up phase and collaborate

with NexMetros Asset Management Operations team to ensure performance is

on target to meet lender requirements and business plan.
Recommend and execute on initiatives to

maintain a competitive edge by producing long-term growth in asset value and

cash flow.
Oversight of Debt Structure:
Proactively evaluate financing options to determine

the most efficient financing sources available to balance the goals for both

financing proceeds and ongoing property cash flow.
Lead and coordinate the debt activities after

construction, including negotiations, due diligence, and documentation of

bridge, permanent, and supplemental financings.
Ensure compliance with loan covenants,

critical dates, testing, and reporting requirements.
Collaborate and take a Leadership role in the Financial

Performance of each Asset:
Develop and lead a process for monthly review

and analysis of each property's financial performance to measure against a

variety of market and internal benchmarks.
Review and take part in rental and other

income optimization discussions to find opportunities to maximize revenue

while balancing occupancy targets.
Scrutinize property operating expenses to

identify cost-saving opportunities.

Implement

cost control measures while maintaining the quality of property operations.
Annual Budget Creation and Quarterly Budget

Reforecasting:
In collaboration with NexMetros Asset

Management Operations team, guide the property management teams in the development

of annual property budgets.
Establish performance benchmarks and financial

targets for each property.
Review and approve final annual budgets and

business plans.
Participate with NexMetros Asset Management

Operations team and property management teams to reforecast quarterly budgets

while ensuring alignment with strategic goals.
Asset Planning:
Develop and maintain the go-forward 18-to-24-month

business plan and recommendations to senior management for all existing

assets including refinance, capital investment/redevelopment,

recapitalization, and/or disposition of assets.
Assess the portfolio regularly to proactively identify

and make recommendations for assets that are currently or are anticipated to

not operate according to the business plan.
Prepare financial and operational reporting for

stakeholders and senior management to communicate past, current, and

forecasted performance of each asset and the total portfolio.
Oversee the marketing and sales process to

ensure successful buyer underwriting and closing to maximize returns.
Participate in and contribute to investor

reporting and communications.
Strategy:
Proactively develop, recommend, and implement

short-term and long-term investment strategies.
Stay informed about headwinds and tailwinds,

market trends, economic factors, and industry best practices to ensure our

portfolio is positioned to make the most of each market.
Collaborate with senior management to align

asset strategies with overall company goals.
Develop and maintain KPI reporting dashboards

within our Business Intelligence system to keep a real time pulse on the

performance of the NexMetro portfolio.

Qualifications:

10+ years of experience in real estate asset

management, with a thorough knowledge of multifamily properties, preferably

with experience in BTR and ground-up development properties.
Knowledge of real estate finance, including

loan structures and refinancing processes.
Excellent negotiation and communication

skills.
Entrepreneurial attitude with a solutions-oriented

mindset to drive through obstacles.
Ability to collaborate across departments and

levels to develop proactive business solutions.
High degree of professional ethics and

integrity.
Strong financial analysis and expert

proficiency with Microsoft Excel modeling.

Including the ability to build and critique investment models

containing various scenario & sensitivity analyses, investment timelines,

debt structures, waterfalls, and ownership structures.
Intermediate proficiency in Yardi property

management software, YieldStar Revenue Management, Microsoft Word, and

PowerPoint.
Ability to work independently little to no

supervision and the ability to lead a collaborative team as a working manager.
Ability to manage multiple priority projects

simultaneously and meet key deadlines.
Bachelor's degree in Finance, Real Estate, or

a related field.

If

you are a dynamic and results-oriented individual with a passion for real

estate portfolio and asset management, we encourage you to apply for this

exciting opportunity to make a significant impact on our portfolio's success.
NexMetros Core Values:

Servant Leadership:

Lead with humility, providing encouragement and empowering achievement.

Collaborative Spirit:

Inspire individual drive, focus and performance to create a best-in-class organization.

Pursuit of Excellence:

Inspire individual drive, focus and performance to create a best-in-class organization.

Do the Right Thing. Always:

Act honestly, ethically, and responsibly.

The Power of Fun:

Lifes too short. Make work fun.

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