Senior Asset Manager with Multi-Family

2 days ago

Costa Mesa, United States Located in Costa Mesa Full time
Job DescriptionJob Description

The position has the overall responsibility for the asset management of portfolios of multi-family and industrial assets located in the Costa Mesa, California region including the management of junior Asset Managers, Leasing Managers, Property Managers, third-party Leasing Agents, and Construction Managers. Core responsibilities include developing and supervising of the strategic planning, management, leasing, financial analyses, operating and capital budgets, returns on an internal rate of return and time-weighted basis, and reporting on a quarterly and annual basis regarding the performance of each asset. Assist in the review and analysis of industrial assets and/or land assets for future development on potentially acquired assets. During initial evaluation of the property and due diligence, these activities occur to ensure the target asset can be managed to the level outlined in the business plan for the underwriting and long-term budget.

The Job Essentials:

  • Overseeing a team (junior asset managers, leasing, property & construction management) and assisting in the review and preparation of annual Asset Business Plans for each asset including developing leasing objectives, operating and financial budgets, and capital plans
  • Evaluating and resolving property operational issues within Budget and Portfolio goals and objectives
  • Developing and implementing both operational and leasing strategies, directing and communicating those strategies to in-house Leasing Manager and Property Manager and third-party leasing firms
  • Monitoring and reporting on asset operational and financial performance on an ongoing basis
  • Managing the preparation of quarterly asset and portfolio reviews, performance re-forecasts, and asset valuations
  • Develop strong relationships through sound leadership with property managers and other onsite staff to support the business plan’s advancement and maximize performance
  • Engage and direct in-house and third party vendors and resources including contractors, property managers and leasing firms
  • Conduct regular site visits to review curb appeal, the status of capital improvement projects, model inspections, expense approvals, and personnel issues to direct changes to maximize the asset’s performance and develop strong understanding of the RE sub-markets in which the assets are located
  • Track and update competitive set to include floor plans, occupancy levels and marketed deal terms for competitive projects
  • Conduct in-depth market research to fully understand each asset’s position in its respective market from a leasing and investment perspective ad all underlying factors that may influence it. Update demographic and market information for each asset area for strategic planning and reporting purposes and to understand the data’s implications on specific asset performance
  • Review and assist with underwriting of new acquisitions including assisting in developing an asset strategy for each asset and completing an investment management on-boarding checklist and due diligence checklist
  • Comply with regulations and reporting requirements outlined in loan agreements, joint venture agreements, and property management agreement for the portfolio
  • Participate in preparing as part of the annual business plan, hold/sell analysis and recommend and execute asset dispositions, contract negotiations, DD coordination and closing oversight
  • Execute and oversee preparation, negotiate, review, and approve tenant lease documents and other asset related agreements
  • Lead and build a team to include Leasing Managers and Property Management staff in support of the Asset and Property Management functions

The Qualifiers:

  • Bachelor’s degree in real estate, finance, economics or other business discipline, advanced degree preferred
  • Minimum seven years of related real estate and asset management and analytical experience
  • Real estate broker's license
  • Additional expertise in residential or industrial renovations, property management, or acquisitions is highly regarded
  • Knowledge of the private equity real estate market and how such investments work and are structured is an essential part of this position
  • Ability to respond to multiple emails and/or phone requests that may arrive during the day, during the evening, or over the weekend
  • Ability to collaboratively work in a dynamic team environment
  • Be conscientious about assignments and quality of work product
  • Assume accountability for specific performance
  • Exceptional written and verbal communication skills, including ability to articulate recommendations in concise and timely manner
  • Understanding of Argus Enterprise. Must be able to direct analyst manipulate models for updates and sensitivity analysis / hold sell analysis
  • Advanced Excel abilities
  • Understanding of accounting software, i.e. Yardi
  • Motivated and results-driven with strong work ethic
  • Ability to travel (approximately 25-40%) within the western region

The Competencies:

The ideal candidate for this role will possess the following traits needed to be successful in this position:

  • Entrepreneurial Mindset – A creative thinker who translates thoughts into actionable items
  • Team Player – Works collaboratively with a commitment to achieving objectives through collective action and communication
  • High-Energy – Thrives in a fast-paced, dynamic environment where multi-tasking is essential
  • Results Oriented – Outperforms expectations and promotes competitive advantage through an analytical and context-driven approach to problem-solving

The Benefits:

  • Competitive Pay + Bonus Incentive
  • Medical, Dental, Vision, Life Insurance and other voluntary benefits
  • Paid Time Off
  • 401k Plan with company matching
  • Professional Development Resources

Local candidates will only be considered at this time and no relocation is provided.

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