Multifamily Asset Manager
4 weeks ago
About the Company
JPI is a leading real estate developer and builder recognized for its commitment to data-driven management and continuous improvement. With over 35 years of experience, JPI has designed and developed communities with best-in-class homes and amenities. The company operates as a subsidiary of Sumitomo Forestry, one of the largest home builders in the United States. JPI's team of experts utilizes data, market research, and proprietary models to ensure strategic decision-making and exceptional multifamily communities with the best risk-adjusted returns.
About the Job
The Multifamily Asset Manager will focus on early-stage asset management responsibilities, financial forecasting, and market research. This role will support the Investment Manager/Operations Manager teams with analytics and due diligence. The Asset Manager will work directly with development, design, and accounting departments to ensure the success of newly constructed multi-family real estate projects.
Essential Functions & Responsibilities:
- Manage primary asset management responsibilities for 1-2 properties with oversight from the investment management team.
- Perform financial forecasts, valuations in a DCF model, and waterfalls regularly, incorporating results into monthly investor reporting.
- Support senior investment managers with property sales, preparing sales packages, and assisting with due diligence needs.
- Take the lead in regular meetings and calls with property management team members and revenue management representatives.
- Present to senior management on various subjects, such as property valuations, forecasts, and market analysis.
- Design, develop, and refine tailored real estate financial and business models using Excel to support decision-making.
- Prepare and maintain weekly and monthly update performance reports on assets, including KPIs and dashboard metrics, recommending strategies to meet/exceed goals.
- Perform analytical tasks related to loan docs, appraisals, expenditures, insurance, investor reporting, draw requests, and other tasks.
- Research and evaluate market data for the asset's submarket community comp set, including rents, concessions, absorption, and new supply.
- Review and provide feedback on variance reports for monthly operating statements, annual operating budgets, and business plans for new assets.
- Manage multiple projects simultaneously.
- Evaluate a property's competitive strengths and weaknesses.
Non-Essential Duties and Responsibilities:
- Other duties as assigned.
Education, Work Experience, & Physical Requirements
- Bachelor's degree in Finance, Accounting, Economics, or business-related study.
- At least 4-6 years of experience in Multifamily Asset Management with strong Excel/financial modeling skills.
- Merchant Build Developer/Lease-Up experience preferred.
- Understanding of real estate capital (debt and equity) is required.
Why Work for Us?
JPI is a People First culture, striving to attract, retain, and grow the best talent in the industry. We provide ongoing investment in the development of our people, offering meaningful opportunities for professional success and fulfillment. Our approach is guided by values and principle-based leadership, with a focus on responsibility, accountability, and integrity.
Industry Recognition
JPI has received notable recognition, including being ranked as the #1 Fastest Growing Developer, #2 Fastest Growing Builder, and #8 Largest National Developer by the NMHC. We have also been recognized as the Most Active Multifamily Developer in DFW for the past 8 years by Real Page and as one of the Best Places to Work in 2023 by the Dallas Business Journal.
Benefits
- Competitive Bonus Program
- 4 Weeks PTO for All New Associates (Pro-Rated by Hire Date)
- 11 Holidays and 8 Early Release Days
- Medical, Dental, Vision, and Life Insurance
- 401(k) with Company Match (Up to 5% Match)
- Health Savings Account
- Flexible Spending Accounts (Dependent & Medical Reimbursement)
- Paid Parental Leave
- Paid Volunteer Time
- Tuition Assistance
- Phone Reimbursement
- Associate Referral Bonuses
Salary
Estimated annual salary: $120,000 - $180,000 depending on experience and qualifications.
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