Asset Management Director
4 weeks ago
About the Role
We are seeking a highly skilled Director of Asset Management to lead the implementation and execution of strategies, programs, policies, and initiatives for development projects from construction to lease up and beyond.
The successful candidate will ensure achievement of the financial and operating goals, and overall profitability of the portfolio.
Key Responsibilities
- Participate in formulating the annual business plan for the assigned assets (primarily industrial, retail, and multifamily)
- Review, monitor, and report on the portfolio's performance against budget and investment proforma by analyzing monthly operating and income statements, researching and taking appropriate actions to address variances, managing and monitoring cash flow, and preparing monthly and quarterly client portfolio/performance reports
- Communicate with and closely interact with the Principals of the firm and on-site team members to monitor the daily operation of the portfolio by conducting routine site visits and inspections, reviewing weekly leasing, occupancy, and revenue reports, addressing policies, procedures, and compliance issues, and developing strategies and programs that maximize the performance of the portfolio
- Manage and oversee the portfolio's compliance with the established debt and equity providers, develop and provide reports to the investment principals and equity partners, monitor investment performance, returns, and forecasts through financial modeling, and recommend ways for optimizing returns at the asset level
- Gather, compile, and analyze market, economic, and capital trends and factors impacting the performance of the portfolio, prepare and deliver presentations and updates to investment principal/investment committee, and participate in formulating the long-term disposition and exit strategy for the assets
- Work with third-party contractors to plan for rehab and other capital improvements, and review and monitor progress on existing projects to ensure on-time and on-budget completion
- Lead and execute the implementation of revenue-enhancing and expense containment programs and initiatives
Requirements
- B.S. Degree in Accounting/Finance and 7+ years' equivalent experience within Asset Management or similar
- Preference for candidates who have Asset Managed a portfolio of $500MM or greater
- Specific asset management experience at an owner/operator with institutional investors
- Looking for candidates with broad experience across multiple asset types
- Experience with capital improvement project management
- Experience at interpreting limited partnership agreements, financial statements, and regulatory documents
- Ability to support future fund launches (Co-GP and/or LP)
What We Offer
Market-driven base salary plus bonus potential along with benefits such as health insurance, retirement, etc.
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