The Asset Manager will be part of a growing and dynamic team responsible for managing a portfolio of assets, formulating and executing asset management strategies, and collaborating on acquisitions and dispositions within the portfolio. The ideal candidate will be a confident, dynamic and sophisticated investment professional with a thorough understanding of institutional real estate, with student housing/multi-family experience and a demonstrated track record of value creation. Additionally, the Asset Manager will be responsible for leading a cross-functional team in a matrixed environment. Ideal location: Open to discuss.
The Asset Manager would be fully responsible for the performance of the assigned assets with the goal of enhancing value and maximizing returns. Responsibilities would include:
- Develop, present, and execute comprehensive annual business plans and budgets for each asset.
- Work in partnership with acquisition team on underwriting and due diligence efforts for new investment opportunities.
- Manage takeover of new assets, ensuring smooth and successful transition into the portfolio.
- Develop and communicate strategic recommendations regarding optimal exit strategies; coordinate and execute successful asset dispositions.
- Become the local expert in each market where properties are assigned, with a focus on knowing competitive assets, the development pipeline, and other economic drivers that could impact asset performance.
- Liaise with internal and third-party resources (such as property managers, construction managers, leasing agents, etc.) to ensure successful implementation of business strategies and business plans.
- Review financial reporting and variance analysis, coordinating with property management and accounting personnel to ensure that financial statements are accurately presented.
- Assist in the preparation and approval process of property operating and capital budgets.
- Perform asset-level valuation reviews as needed, including gathering market data, reviewing property performance and measuring each asset against its budgets and goals.
- Visit all properties within the portfolio on a regular basis to ensure assets are being operated per approved business plans and budgets.
- Assist with documenting and updating relevant policies, processes, and procedures.
- Complete all work in an ethical, fair, and consistent manner.
- Perform other duties as assigned.
- Bachelor’s degree required; MBA, MS Finance or advanced degree in real estate preferred.
- 3 to 5 years’ experience asset managing geographically dispersed Class A and B properties in student housing and/or multi-family required.
- 2 to 3 years’ experience with value-add and redevelopment projects.
- Thorough understanding of financial statements and reporting with exposure to institutional investment.
- A strong expertise with cash flow modeling, IRRs, and NPVs is required. Familiarity with RealPage and ARGUS is a plus.
- Detailed understanding of the due diligence process; experience in real estate acquisitions is a plus.
- Strong interpersonal skills with a demonstrated ability to lead internal and external business partners, consultants, and clients.
- Effectively and professionally communicate complex issues both verbally and in writing to senior management.
- Highly self-motivated, confident and driven.
- Strong intellect and strategic thinker with solid quantitative, financial and analytical skills.
- Proven ability to work effectively in an entrepreneurial environment.
- Travel including overnight stays
- Asset Management
- Portfolio Management
5+ to 7 years
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