Asset Manager

Job Type

Full-time

Description

Ram Realty Advisors, LLC (Ram) is a registered investment advisor that invests on behalf of a series of private equity funds and partnerships with co-mingled funds from institutions, plan sponsors and high net worth individuals. Through these funds and partnerships Ram acquires, develops, manages and finances retail and multifamily properties in the Southeast. We pursue the acquisition, development, and redevelopment of commercial, multifamily and mixed-use real estate. Target markets include, but are not limited to; South Florida, Tampa, Orlando, Raleigh/Durham, Charlotte, Nashville and Atlanta. Our strategy includes ground-up development, adaptive re-use, and the acquisition and redevelopment of existing assets. Since 1996 the company has deployed in excess of $4.4 billion in real estate transactions.

Ram is seeking an experienced Asset Manager to join their team and oversee the management of a portfolio of multifamily and mixed-use properties. The Asset Manager will be responsible for driving the successful execution of the business plan for each assigned asset.

Essential Duties and Responsibilities:

•Maintain best-in-class working knowledge of the region/market, including asset class performance, capital markets, and the competitive environment. The knowledge should be driven by direct contact with actual market participants (e.g., tenants, managers, lenders, owners, etc.) in addition to 3rd party research reports.

•Actively participate with the investment and development teams during the initial analysis of potential acquisitions and development projects. Provide feedback regarding key assumptions based upon market data.

•For acquisitions (as distinguished from development projects): Assist the asset management team in (a) coordination of the due diligence process, working with internal teams and external professionals; (b) ensuring that potential acquisitions are thoroughly vetted and that the results of the pre-acquisition analysis are included in final underwriting; (c) creating the business plan and investment committee (ICOM) material; and (d) presenting to ICOM.

•Primary driver of the business plan for acquisition/value-add projects at inception. Engage design and marketing professionals, and direct internal construction project management team (where applicable).

•For development projects (as distinguished from acquisitions):

•(a) participate as a key team member in the due diligence and pre-development process; and (b) endorse, or challenge, as the case may be, the key assumptions prior to ICOM review.

•Participate as part of the team at project inception. Maintain active dialogue with development team during construction process to ensure compliance with major business plan objectives. For example, the asset manager will approve (with the developer) potential scope changes (i.e., value engineering).

•Upon substantial completion of development projects, assume direct responsibility for business plan execution , focused initially on successful lease-up and stabilization.

•Engage and manage 3rd party service provider relationships, including property management, leasing, legal, and other professionals. Maintain active and consistent dialogue, challenge key operating assumptions, monitor performance, provide direct feedback, and where necessary, resolve conflict.

•Asset managers are expected to visit their properties and be in the market on a frequent basis. Travel required.

•Actively monitor changes in the local property markets, capital markets, and/or asset level issues and recommend modifications to the business plan . Changes may include, by way of example, requests for additional capital, a shorter (or longer) holding period, modified financing, etc.

•Prepare (or supervise preparation by an analyst, as the case may be) quarterly asset reviews, valuation models, and other content for external fund reporting.

•Review and approve annual operating budgets and multi-year capital plans. Monitor financial performance, including review of monthly financial reports (provided by property management) and compliance with lender requirements and loan covenants (in conjunction with VP - Finance).

•Complete execution of the business plan through the ultimate sale of the asset , including recommended timing of disposition, engagement of investment sale professionals (i.e., brokers), coordination of sale and buyer selection process, contract negotiation, and management of due diligence and closing process.

•Make periodic presentations to internal teams, lenders, and investors regarding asset performance and progress against original (or revised) business plan.

•Facilitate communication across departments (both internal and external), as well as across regions and asset types (exchange of ideas). The asset manager is responsible for ensuring that the Ram subject-matter experts (regardless of location or department) are actively engaged in the relevant component(s) of the business plan.

Promote the Company throughout the region.

•Maintain active working relationships with local government(s), economic development organizations, and industry associations. Maintain consistent contact with brokers, consultants, developers, investors, and property owners.

Requirements

These requirements represent the education, knowledge, skill, certifications/licensure and/or ability required to perform the Asset Manager role satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential duties noted above.

•Bachelor's Degree (Master's Degree preferred with an emphasis on real estate) from an accredited four-year college or university.

•A minimum of 5 years of relevant experience, preferably including at least three years directly asset managing more than one asset simultaneously.

•Proficiency with Microsoft Office suite of software, specifically including extensive experience with Excel.

•Past experience acting as an analyst involved in real estate joint ventures and/or direct acquisitions preferred.

These characteristics and skills are essential for success in this role:

•Demonstrated ability to work within a team environment across various functions/departments.

•Excellent communication skills, both written and verbal.

•Must be a critical thinker and have a comfort level challenging the status quo and/or conventional wisdom.

•Ability to deal with difficult decisions and conversations.

•Ability to produce, review, analyze, and describe complex financial projections and related schedules.

•A general understanding of financial statements, real estate econometric research reports, financing structures, and real estate related legal documents (loan agreements, leases, property management agreements, etc.).

These characteristics are highly valued throughout the Company and essential for all team members:

•High degree of professionalism.

•Commitment to quality and a constant desire for improvement.

•Being open-minded and willing to learn.

•Humility and an ability to admit "I don't know" or "I made a mistake".

•Knowing when and how to ask for help.

•Adaptability and flexibility.

•A deep belief in the importance of putting the team first.

•A strong sense of respect for self and others.

•An unwavering commitment to integrity (no matter the perceived short-term cost).

Please note: The Team Member Description is not designed to contain a comprehensive list of duties and responsibilities that may be required of the employee. Duties and responsibilities may change at any time with or without notice.