Asset Manager - Aulder Capital

October 13, 2017
...Unable to display logo...

Aulder Capital

new york, New York 10004
http://www.aulder.com

Overview
Aulder Capital is seeking an experienced Asset Manager for its growing NYC-based Asset Management Team. The Asset Manager will be responsible for five to ten value-add multifamily assets located in the city and along the Eastern Seaboard. This is an opportunity to execute the business plan from start to finish, including setting and managing strategy as the assets evolve, overseeing capex and unit renovation projects, coordination and evaluation of on-site management, visiting the assets on a regular basis, monthly internal reporting, quarterly external reporting, periodic disposition analysis, and managing the sale process once the business plan has been completed.  The ideal candidate will work closely with the team to share ideas, but will also work independently with minimal supervision to deliver results.  The individual should be able to thrive in an environment that is highly entrepreneurial, both strategic and creative, and which requires strong skills in the areas of organizing, multitasking, prioritizing, decision-making and communicating.

Responsibilities

Strategy:  Develop annual operating budgets, shape the lease rollover schedule, identify projects with an accretive return on cost, build financial models to support investment decisions, and evaluate refinance and exit options. Prepare operational reviews, then propose, implement and monitor solutions for under-performing assets

Analysis:  Prepare annual budget and evaluate performance relative to budget. Mitigate risk through line item review, dashboards, and early identification of demographic trends, political risk, insurance risk, environmental risk, etc.

Reporting:  Complete monthly, quarterly and annual reporting, prepare Investment Committee Memos, and maintain waterfall distribution models. Synthesize weekly activity down to key decision points and situations needing attention from Head of Asset Management

Operational Leadership:  Lead the communication between property management, leasing, and construction teams in order to accomplish business plan goals through transparency, teamwork and accountability

Contract Management:  Understand responsibilities and protect ownership rights related to contracts such as leases, loan documents, property management agreements, service plans and purchase orders

Project Oversight:  Monitor common area and unit renovation projects alongside the construction team to produce scopes, ensure timely completion within budget, inspect completed work, review invoices and secure waivers

Compliance:  Manage registrations, citations, and other regulatory, legal, insurance and bank items. Formulate and execute plans for tenant non-payment, illegal occupancy, criminal and fraudulent activity. Engage counsel, monitor proceedings, appear in court when necessary, and ensure proper documentation

Administration:  Support property accounting by coding expense bookings and reconciling accounting reports to financial statements. Maintain records by promptly saving all documentation, reports, receipts and notices within the company’s digital filing system

Field Work:  Visit assets periodically to evaluate physical condition, safety, market fundamentals, status in the market, and opportunities to re-position the asset. Submarkets change and it’s important to get out of the office to stay on top of the drivers and features that bring people to certain areas and properties

Professional Development:  Expand network by representing the company in a professional manner at key conferences and events. Participate in job-related training to grow expertise and bring new tools and best practices to the company

Skills    

Self-Managed:  Ability to work independently and as part of a team comprised of local and remote colleagues. Instinctively good at prioritizing, managing time, staying organized, maintaining files, keeping a clean inbox, staying positive, and following up on a multitude of issues across multiple properties and management teams

Verbal Communication:  Effective verbal communication skills are critical to the job. The successful candidate will be able to connect and work with people at all levels, including construction, property management, accounting, asset management, acquisitions, ownership, lenders and investors

Written Communication:  Effective and audience-tailored written communication skills come into play when corresponding with internal and external stakeholders, responding delicately and professionally to municipalities and lenders, and writing periodic reports, memos, and requests

Analytical:  Natural tendency to analyze data, look for trends and uncover discrepancies

Entrepreneurial:  Excited to take charge of commercial multifamily assets, create plans, run businesses, make decisions, negotiate contracts, improve processes, find new ideas, and make life better for both tenants and investors

Pride of Ownership:  The successful candidate will go above and beyond their job duties, pay close attention to details, double check to turn in accurate work, and take an interest in the best possible outcome for their assets

Design-Minded:  Creativity is a must in the design, renovation and leasing of multifamily value-add properties. The asset manager is creating an environment and a home that will attract new tenants and convince existing tenants to upgrade

Problem Solving:  Must be flexible and goal-oriented to evaluate a host of solutions ranging in cost, effectiveness and return on investment. Must be able to look around, ask around, search the web, and find what has worked for others

Software:  Proficiency in Adobe PDF and MS Excel, Word, and PowerPoint. Familiarity with asset management and property management software such as Yardi, PropertyWare, LRO and CRM is a plus

Qualifications

-Bachelor’s Degree with a concentration in Real Estate, Finance, Entrepreneurship or General Business. Preference for advanced degrees, continuing professional education, and certifications

-3-5 years of experience in multi-family asset management. Strong preference for candidates who have experience with rent stabilization regulations and properties in the five boroughs

-Valid driver’s license with passing drug test and background check

-Bilingual Spanish a plus, but not mandatory

Compensation 

__________________________________________________

About  

Aulder Capital is a vertically integrated, privately held investment and management company that focuses on value-add multi-family and commercial properties located in New York City and the Northeast corridor.  Aulder targets middle-market transactions ($10 to $40 million) with attractive risk-adjusted returns achieved through investments in renovation, leasing, marketing, and repositioning. Aulder principals have over 30 years of experience at a range of institutional and “grass-roots” shops, with a combined $6.5 billion of transaction experience. The company has acquired approximately 900 apartment units in its five-year history.