Senior Asset Manager

Acento is a fast-growing premier investment management and operating company specializing in value-driven investment strategies and in-house property management services. Founded in 2002 to meet the needs of Latin American investors seeking exposure to U.S. commercial real estate, Acento invests nationally and mainly in multifamily assets through a number of vehicles, including private equity funds and private client accounts. The company’s current investments include over 3,200 multifamily units located in the Eastern Seaboard.

With a new 350 MM fund, Acento intends to invest a substantial amount of equity in multifamily assets over the next years and will need a highly organized, enthusiastic candidate with strong financial acumen and interpersonal skills who can execute renovation strategies and motivate property management and in-house support teams to meet stringent deadlines and budgets. This person should have experience in underwriting and financial analysis sufficient to support Acento’s acquisition and disposition activities in the Eastern seaboard target markets.

Acento is currently seeking a qualified individual with at least 10 years’ experience to serve as a Senior Asset Manager, specialized in Multifamily to drive results, streamline process and enhance the profitability of Acento’s existing multifamily portfolio in the Mid-Atlantic region.

RESPONSIBILITIES:

The Senior Asset Manager will be located in Washington DC and will be responsible for setting and implementing financial, business, and management strategies/tactics for Acento’s multifamily investments with the objective of maximizing value over a regional portfolio.

The person filling this position will provide hands on asset management to successfully complete value add business plans, acquisitions, and dispositions for the existing and growing multifamily portfolio. The ideal candidate will have proven leadership skills, a “can do” attitude and work well multitasking under tight deadlines. This person will drive property performance from every level and must successfully execute the value-add renovation strategies and capital projects necessary to achieve maximum return on investment.

This position will require the following competencies:

• Strong track record of proven successful multifamily portfolio asset management (revenue enhancement, expense management, renovation projects, marketing programs, reputation management, evaluation of investment opportunities, business plans, acquisitions, budgeting, and reforecasting, etc.)

• Experience managing significant capital projects, including common area and unit renovations and negotiating, supervising, tracking and analyzing renovation construction projects.

• Experience working with construction professionals to quickly achieve project execution and control costs

• Effective communicator, able to set priorities, provide direction, motivate on-site personnel, and measure performance of selected construction and property management teams to successfully execute value add business plans

• Strong financial acumen with demonstrated ability to understand portfolio financing and investment goals and work with on-site teams to achieve financial results

• Comprehensive understanding of multifamily market for B+ to C+ properties in the assigned region with track record of successful execution of marketing programs and strategies

• Analyze asset performance versus original underwriting and competitive set performance to adjust management strategies as necessary

• Develop maximization strategies for strengthening the revenue performance of the multifamily assets and work with revenue management platforms and professionals to maximize gross potential rent

• Work with acquisitions, finance and analyst teams to complete underwriting and due diligence on new acquisitions in the region

• Prepare and present annual budgets and business plans for each asset that illustrate entrepreneurial strategies for adding value, and enhancing performance

• Monitor market/submarket conditions (major employers/economic drivers, new supply, strategy of competitive properties, etc.) and modify operational strategy accordingly

• Oversee and manage cash distributions, monthly and quarterly financial statements.

REQUIREMENTS:

Qualifications And Qualities:

• Bachelor’s Degree is required, preferably in finance, real estate, business or economics

• Minimum of 10 years of asset management experience with value-add multifamily investments in the Eastern seaboard region

• Demonstrated ability to grow NOI through creative value enhancement strategies and proven execution

• Leadership experience with success in motivating team members to achieve goals

• Prior success in executing fast paced renovation projects on time and within budget; some experience with student housing is desirable

• Strong analytical skills with ability to gather data and make sound recommendations for strategic action

• Strong communication skills with ability to provide clear and concise direction, support recommendations to senior management, constructively advocate or defend a position, and convey critical information succinctly, verbally and in writing

• Nimble and creative, able to “think out of the box”

• Comprehensive knowledge of computer applications, spreadsheets and modeling concepts

• Advanced Excel skills

• Self-motivated and willing to wear many “hats” as required for a fast-paced, growing company

Corporate Culture:

• Ethics and integrity are paramount when representing the company

• Ability to lead and understand the importance of getting others to do their jobs with enthusiasm to work towards achieving the overall strategic plan for the region.

• Sensitivity to change and ability to quickly adapt in a business world in constant evolution

• Ability to manage time, stay organized and the desire to learn, thrive and excel

• Ability to think strategically, work well with a wide variety of people and value the importance of teamwork