Director of Asset Management

4 weeks ago

Dallas, United States AG Living Full time
Position
Director of Asset Management

EOE Statement
We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status or any other characteristic protected by law.

Description

JOB SUMMARY: The Director of Asset Management plays a crucial role in our multifamily real estate company, overseeing the strategic management and optimization of our property portfolio.

VALUES MODELED: All employees are expected to bring our values to life every day by demonstrating:
  • RESPECT: Treat people with courtesy and kindness, valuing inclusion and diversity.
  • ACCOUNTABILITY: Honor commitments, focus on delivering solutions, and take ownership of responsibilities.
  • INTEGRITY: Act with honesty, honor, and transparency in all activities.
  • SERVICE: Be socially conscious, proactive thinkers, committed to improving well-being.
  • EXCELLENCE: Strive for excellence, adapt, innovate, and exceed expectations.
ESSENTIAL DUTIES AND RESPONSIBILITIES:

Asset Portfolio Management:
  • Structure, coordinate, and oversee weekly asset performance calls of the Asset Management and Operations teams.
  • Oversee Asset Management's monthly financial review process, including analysis of P&L statements, Balance Sheets, Aged Receivables, payables, box scores, and various other reports.
  • Manage the insurance renewal process, coordinating with internal Ashland Greene teams and external brokers to ensure the lowest insurance rates possible.
  • Work closely with the construction and operations teams to monitor capital project progress and ensure all rent premiums are entered into management software.
  • Provide recommendations to ownership for additional value-add opportunities for future acquisitions.
  • Collaborate with the Chief Financial Officer to manage the property tax appeal process, including liaising with outside advisors.
  • Oversee Asset Preservation property walks performed by the Asset Management team, providing guidance and insight to appropriate teams to ensure budgets are met and Ashland Greene standards are kept.
  • Identify new programs to implement that can reduce expenses and/or maximize income.
  • Coordinate with internal departments to create and deliver annual operating budgets.
  • Work with operations, insurance carrier/consultant, and risk team to develop and implement emergency response plans to ensure the safety and well-being of tenants and assets.
  • Oversee the property insurance claim process, including compiling all necessary documentation, clear communication with servicers and equity partners on the status of repairs, and collecting insurance proceeds.
  • Have a full understanding of all joint venture, senior loan, and mezzanine loan documents of properties under management.
  • Ensure all properties under management are achieving maximum billback percentages for utilities.
  • Creation and maintenance of master contract spreadsheet, providing routine updates to ownership.
Property Operations:
  • Monitor tenant review websites such as Apartments.com, Google, Yelp, and ApartmentRatings.com, working closely with the Director of Marketing to ensure appropriate marketing levers are pulled to drive traffic.
  • Oversee lease negotiations, renewals, and terminations, ensuring optimal lease terms and income generation.
  • Collaborate with third-party service providers, including property management firms, to ensure operational excellence and cost efficiency.
  • Ensure compliance with all relevant property laws, regulations, and industry standards, taking proactive steps to address any potential issues.
Asset Strategy:
  • Develop and implement comprehensive asset management strategies to maximize the financial performance and value of the company's multifamily real estate portfolio.
  • Analyze market trends, economic factors, and property performance data to make informed decisions on property acquisitions, dispositions, and capital investments.
Financial Oversight:
  • Collaborate with accounting teams to analyze property financial statements, identify variances, and implement corrective actions as needed.
  • Monitor and ensure compliance with loan and JV documents, key dates, and performance of debt service coverage ratio and other financial testing metrics on a periodic basis.
  • Identify opportunities for portfolio optimization, including renovations, repositioning, and other value-add initiatives to enhance property performance and investor returns.
Investor Relations:
  • Cultivate and maintain strong relationships with preferred equity and limited partner investors, providing regular updates on portfolio performance, and addressing investor inquiries and concerns.
  • Prepare and present reports to executive leadership and investors, summarizing portfolio performance and outlining strategic recommendations.
  • Creation of monthly financial reporting packets to Limited Partners.
Team Leadership:
  • Build and lead a high-performing asset management team, providing guidance, mentorship, and professional development opportunities.
  • Collaborate with other departments, including acquisitions, development, and property management, to achieve overall company objectives.
EDUCATION/EXPERIENCE:
  • Bachelor's degree in Real Estate, Finance, Business Administration, or a related field.
  • Minimum of 10 years of experience in asset management, preferably in multifamily real estate
  • Master's degree and relevant certifications (e.g., CFA, CCIM) preferred.
COMPETENCIES:
  • Strong financial analysis skills.
  • Proficiency in real estate management software.
  • Excellent negotiation abilities.
  • Knowledge of real estate laws and regulations.
Key Qualities:
  • Excellent written and verbal communication skills. Must be able to clearly convey complex financial information to various stakeholders, tenants, and team members.
  • Strategic Vision: Develop and execute a forward-looking asset management strategy aligned with the company's overall goals.
  • Leadership: Inspire and lead a team of asset management professionals to achieve excellence.
  • Analytical Thinking: Utilize data and market analysis to inform strategic decision-making.
  • Communication: Clearly convey complex financial information and strategic recommendations to both internal and external stakeholders.
  • Adaptability: Navigate and adapt to changing market conditions and industry trends.
  • Ethical Conduct: Uphold the highest ethical standards in all asset management activities.
  • Professional Development: Stay current on industry trends, regulations, and best practices through continuous learning and professional development.

Please be aware that the furnished job description serves as a broad framework and can be tailored to align with the unique requirements of AG Living.

** We do not accept inquiries from staffing agencies or third-party recruiters. Direct hire applications only. **

This position is currently accepting applications.

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