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Multifamily Asset Manager

Salary
Competitive
Employment
Full Time
Real Estate Field
Location
Los Angeles
 CA
Postal Code
90026
Country
United States

This job is no longer active.

Description


MULTIFAMILY ASSET MANAGER

JOB DESCRIPTION

 

SUMMARY

Oversee our internal property management department. Provide oversight to all property managers as well as analytical multifamily support to the Principal team for operations, dispositions, acquisitions, and due diligence of commercial real estate investments.

 

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

  • Develop a strong working relationship with the property managers and staff.
  • Work with Property Managers during the budget/business plan cycle to review and complete the final budget for each asset within the portfolio. Guide property management and leasing teams using revenue enhancement strategies. 
  • Lead preparation of draft of Annual Business Plan to senior leadership by October 1st each year for the following calendar year.
  • Review weekly and monthly property management reports and bring any issues to the attention of principals. As appropriate, resolve issues with Accounting, Property Management or other parties.
  • Complete submarket research to understand the asset’s direct competitive set and enhance asset level knowledge. Use this knowledge to understand impact on leasing trends and strategies at the property.
  • Assist in the preparation and drafting of internal and investor reporting.
  • Participate in Quarterly Site Inspections and prepare Site Inspection Form.
  • Review of Funding Requests and all supporting documentation.
  • Work with accounting team and third-party tax consultants to ensure all requested information is provided and all requests and appeals are reviewed.
  • Assist acquisitions staff in underwriting multifamily acquisitions including providing marketing information, and insights into rents and expenses.
  • Assist with acquisition and disposition efforts including property inspections, review of rent roll and existing leases, operating expenses and other due diligence materials.
  • Complete commercial/retail lease analyses as necessary. Emphasis on extracting accurate and complete information from a proposal, letter of intent or lease with respect to costs and options/concessions. Review tenant and prospect financials to better understand potential credit risks.
  • Review quarterly cash flow waterfalls for accuracy.
  • Update internal reports and databases as requested.
  • Special and ad hoc projects, as assigned.

 

QUALIFICATIONS

The requirements listed below are representative of the knowledge, skill, and/or ability required for candidate to successfully perform the role. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • Strong Excel, Yardi and MS Word skills. Knowledge of Argus and Power Point a plus.
  • Must possess critical thinking and analytical abilities to reasonably anticipate the needs of those whom he/she supports.
  • Excellent time management skills enabling candidate to meet multiple deadlines.
  • Excellent oral and written communication skills and demonstrate the ability to write various types of reports and business correspondence. Ability to effectively present information and respond to questions.
  • Asset Manager must understand general aspects of each asset in the portfolio including structure, partners, size, value, etc. Understanding of the strategic plan for each asset including original Investment Brief strategy as well as the Annual Business Plan strategy.

 

EDUCATION and/or EXPERIENCE

Bachelor’s degree in Finance, Real Estate, Economics or Accounting. Master’s degree a plus.

One to three years of multifamily property management experience required.

 

LANGUAGE SKILLS

Must be able to communicate (verbally and in writing) effectively in English. Some level of Spanish a plus but not required. 

 

MATHEMATICAL SKILLS

Strong understanding of IRR, NPV and other calculations required. Ability to perform discounted cash flow analysis and understanding of the drivers and results is required.

Understanding of standard financial statements required and understanding of credit analysis components is preferable.

 

REASONING ABILITY

Ability to critically analyze and apply sound logic and reasoning in the formation and execution of solutions to practical problems. Ability to interpret a variety of instructions furnished in written oral, diagram, or schedule form.

 

CERTIFICATES, LICENSES, REGISTRATIONS

Certified Apartment Manager (CAM), Accredited Residential Manager (ARM), Certified Apartment Portfolio Supervisor (CAPS) a plus.

 

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essentials functions.

While performing the duties of this job, the employee is regularly required to sit and use their hands. The employee is occasionally required to stand and walk. Specific vision abilities required by this job include close vision.

Out of state travel required.

 

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually moderate.

The work environment is fast paced and often required flexibility in regard to scheduled tasks and number of hours worked. Asset Managers are expected to efficiently manage their time in effort to keep normal business hours, however, must be willing to work non-business hours if required to meet core job responsibilities or urgent business needs.

 

Job Sector


 

Experience


2+ to 5 years


This job is no longer active.

Asset / Portfolio Management Residential Los Angeles Full Time CA Asset Management, Operations, Property Management Analyst - Asset Management other