Our client, a real estate investment firm, is seeking an Asset Manager to add to their growing team.
This role is an excellent opportunity for an entrepreneurial-spirited applicant to take responsibility for a large and growing portfolio of assets. The role will position the ideal candidate to have a real impact on company results and has the potential for strong career growth and earnings through significant performance-based incentives.
The Asset Manager is to work to enhance portfolio performance by establishing strategic asset-specific plans, overseeing asset-specific initiatives, and working directly with in-house and/or third-party construction, maintenance, and property management. Other tasks, as necessary, will include project management, construction management, and assistance with the acquisition/transaction process for new properties.
The Asset Manager should expect to work in the proximity of Portland, ME (core geography) but will also be managing assets in Wilmington, NC and other locations. Applicants should assume regular travel to portfolio assets (up to 25% of the time).
The Asset Manager would report to the VP of Strategy and Finance. They would oversee project teams but would not initially have any direct reports.
Asset Management Responsibilities:
- Evaluate financial performance on a monthly, quarterly, and annual basis.
- Develop strategic plans for maximizing returns on each portfolio asset
- Conduct regular site visits and inspections. Scout submarket for comp pricing and data.
- Liaise between in-house and/or third-party property management companies and Acquisitions & Development.
- Manage projects and initiatives specific to each individual portfolio asset (A/R oversight, unit renovation plan, Other Income implementation, expense controls, etc.).
- Manage relationships with regulatory bodies, including rent control boards.
- Assist in the repositioning of recently acquired assets in the portfolio.
- Oversee, maintain and develop asset management reporting required for each property[BB1] .
- Quarterly reporting to investors and managers of performance metrics and asset reviews.
- Ad hoc analysis.
Capital Project Oversight / Construction Management Responsibilities:
- Identify necessary and or strategic capital expenditure needs for portfolio assets.
- Development of annual capital budget with the property management team.
- Develop long-term capital plans for each property, including financing strategies
- Oversee execution of annual capital projects for each property (timing, budget variance, etc.).
- Review vendor bids and contracts as needed.
Acquisitions / Financings / Due Diligence Responsibilities:
- Assist with acquisition and lender due diligence.
- Assist with the creation of investment memorandums for capital raising process (debt and equity).
- Assist with physical inspections, operating documents, and financial statement review.
- Review and comment on third-party reports obtained during due diligence.
Knowledge, Experience, Educational Requirements:
- 4+ years of asset management experience focus on multifamily assets, or other directly applicable experience
- Must have expertly demonstrated knowledge and proficiency of MS Office system computer software, particularly Excel[BB2].
- Bachelor’s degree in finance, accounting, real estate, or a related field, MBA preferred
- Completion of education and training in related real estate industry courses preferred
- Understanding of construction processes – bid solicitation and award, architectural and engineering knowledge
- Ability to travel and spend time at firm-owned assets, acquisitions targets, and between firm office locations (Wilmington, NC, Jacksonville, FL)
- Industry-related certifications/designations preferred (eg. CFA, CCIM)
Additional Skills, Abilities, and Characteristics Required:
- Owner mindset and entrepreneurial attitude.
- Familiarity with Yardi, Juniper Square, Argus, Procore, or other industry software is a plus
- Excellent project management skills and ability to proficiently manage multiple ongoing projects.
- Highly analytical thinking with demonstrated talent for identifying, scrutinizing, improving, and streamlining complex work processes.
- Ability to manage volatile workload and prioritize appropriately.
- Ability to work well and collaborate with others.
- Solid understanding of profit/loss financial statements.
- Extremely detail-oriented and self-motivated.
- Strong interpersonal communication skills, both informal and in presentation.
Successful candidates thrive in a fun, energetic, creative environment with a dynamic business model.
Compensation will include a base salary plus a performance-based incentive.
ProSearch is proud to be an affirmative action / equal opportunity employer. All qualified applicants will receive consideration without regard to race, creed, gender/sex, marital status, sexual orientation, citizenship status, color, religion, national origin, age, disability, veteran status, or any other status protected under local, state, or federal laws.