Principal Asset Management Executive

2 weeks ago

Northbrook, Illinois, United States SHERMAN RESIDENTIAL Full time
Job Overview

Company Background:
Sherman Residential is a forward-thinking, privately owned real estate investment firm that excels in managing premier multifamily housing across the southern United States. Since our inception in 1990, we have successfully acquired over 27,000 units and managed assets valued at more than $3 billion. Our current portfolio consists of 16 Class A properties, totaling 5,500 units across 7 states. We are actively involved in both acquisition and disposition processes, having executed 8 transactions in the past year.


At Sherman Residential, we prioritize financial stability by securing all our debt, thereby alleviating concerns related to loan maturity or variable rate debt. This strategy lays a solid foundation for our operations and investments.


Recently, we raised Fund 15, securing over $260 million, which is our largest fund to date. This milestone reflects strong investor confidence and enhances our ability to pursue strategic growth opportunities while delivering exceptional returns.
Position Summary:
The Senior Asset Manager position at Sherman Residential presents a distinctive opportunity to engage thoroughly across our operations, from acquisition to disposition. This role provides team members with invaluable experience in managing the entire lifecycle of real estate assets. The ideal candidate will be a seasoned professional skilled in asset management, financial analysis, and property operations. Key responsibilities include overseeing strategic and operational performance, collaborating with senior leadership on asset strategies, analyzing financial reports, developing and reviewing budgets, monitoring capital expenditures, and supporting accounting functions. Additionally, the role involves guiding property acquisitions and dispositions, managing special projects, tracking performance metrics, and supervising roles such as analysts and project managers. The successful candidate will exhibit a proven ability to enhance property value, achieve organizational goals, and deliver outstanding resident experiences. Individuals who are meticulous, analytical, and collaborative will excel in this dynamic position.
Reporting Structure: Reports to Vice President
Compensation: Exempt – competitive salary with transactional and annual bonuses, based on experience.
Key Responsibilities:

  • Develop and implement business plans; propose and execute new strategies to optimize operations.
  • Enhance overall asset returns by evaluating property efficiencies and identifying performance improvement opportunities.
  • Establish and implement cost control measures, capital investment plans, and risk management strategies to maximize asset value.
  • Review and analyze monthly financial reports, including budget variances, income statements, balance sheets, cash flow statements, and delinquency reports.
  • Prepare and adjust annual budgets; monitor expenses and variances to maximize operational efficiency.
  • Regularly review and assess improvement plans, ensuring alignment with budgetary constraints.
  • Collaborate with construction management to ensure Capital Expenditure (CapEx) projects align with business plans and are executed effectively.
  • Develop, distribute, and maintain asset management reports. Create and document processes for recurring projects.
  • Monitor and align asset strategies with senior management; provide project management support as necessary.
  • Work with property-level staff to understand current operations, budget variances, and performance issues.
  • Conduct on-site property inspections, document findings, and provide actionable recommendations to senior management and property staff.
  • Integrate new technologies into property operations to enhance efficiency and performance.
  • Oversee and support the daily pricing tool used across the portfolio, including setting concessions and adjusting rates as necessary.
  • Manage the resident renewal process to ensure high occupancy and retention rates.
  • Oversee the organization's key property management software in collaboration with the systems engineer and accounting teams.
  • Track and analyze utility costs and recoveries across the portfolio to ensure cost efficiency.
  • Develop and implement preventative maintenance practices in conjunction with construction management.
  • Lead the due diligence process for new acquisitions and property dispositions.
  • Manage and support positions within the asset management team.
  • Travel to asset locations, client meetings, and internal meetings as needed.
  • Attend training and informational seminars to stay current with industry policies and procedures.
  • Foster a positive working environment and culture, collaborating effectively with on-site staff members.
Essential Qualifications:
  • Education: Bachelor's degree in finance, Real Estate, or a related field.
  • Experience: Minimum of 3-7 years in real estate asset management, with a demonstrated track record of success. Supervisory or leadership experience preferred.
  • Skills: Strong analytical skills, critical thinking, and decision-making abilities. Excellent time management skills and ability to multitask. Outstanding oral and written communication skills. Advanced proficiency in Microsoft Excel. Familiarity with Yardi preferred, but not required.
  • Personal Traits: Solution-oriented, with a passion for real estate, finance, investing, or private equity. Respect for others with the ability to be sensitive to the needs of fellow employees and residents. Ability to build relationships and work collaboratively with diverse groups both internally and externally. Commitment to communication, integrity, teamwork, respect, accountability, adaptability, passion, innovation, excellence, quality, and service.
  • Additional Requirements: Ability to travel up to 35% of the time. Commitment to organizational goals and adherence to company policies as outlined in the Employee Handbook.
Company Benefits:
  • Engaged and Supportive Leadership
  • Collaborative Team Environment
  • Medical Insurance
  • Dental Insurance
  • Vision Insurance
  • Life and Disability Insurance
  • Flexible Spending Account
  • 401K with Company Matching
  • Employee Investment Opportunities
  • Paid Time Off – Holidays, Floating Holidays, Vacation, and Sick Time
  • Remote/Hybrid Work Schedule
  • Employer Funded Training and Development Opportunities
  • Tuition Reimbursement
  • Employee Discount Program
  • Focus on Work/Life Balance
  • Employee Assistance Program
  • Summer Hours 1⁄2 Day Fridays
  • On-Site Gym in Building
  • Salary: $120,000 - $140,000, or based on experience

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