The Austin sub-office of a New York based privately held, growth-oriented real estate investment company is searching for an Asset Manager to join our team. This is a position with the opportunity for growth and increased responsibilities. The company is focused on the acquisition and management of quality income producing multifamily properties within strategic growth markets throughout the United States. Through a rigorous value-enhancement program that includes thoughtful renovations, operational improvements and ancillary income development, the company aims to reposition each asset with the goal of maximizing NOI, elevating its competitive position within the market, and providing attractive risk-adjusted returns for its investment partners. The company currently owns and manages a portfolio composed of more than 9,000 units and a value in excess of $2.0 billion.
The Asset Manager will be responsible for a portfolio of residential properties assets across Texas and the Western United States. S/He will be responsible for maximizing the operating and financial performance of the assets through strategic and active day-to-day asset management.
• Assist in the development and execution of asset strategies including the ongoing monitoring of such strategies to maximize the value of each asset
• Facilitate new property acquisitions, including property tours, preliminary budgets, oversight of acquisition due diligence and close coordination of management transition
• Maximize total return for the asset through the analysis of property efficiencies and identify opportunities for improved performance
• Work closely with the regional operations team to provide direction for and oversight of the business plan, budget, leases and capital approvals
• Lead in the preparation and review of annual property operating and capital budgets
• Manage cash flow and investment projections
• Monitor and analyze the financial performance of the properties
• Regularly conduct on-site inspections to ensure high standards of property conditions. Partner with facilities and engineering teams to ensure physical assets are operating at peak performance levels.
• Develop and distribute periodic asset management reports and correspondence to senior management and investors relations
• Review loan compliance and property-level financing
• Execute ad hoc financial and reporting projects
• Contribute to creation of and ensure execution of marketing plans for communities within assigned portfolio
• Oversee execution of proactive and timely reputation management strategies via social media – ratings, reviews, responses
• Monitor and maintain appropriate yield management strategies and provide meaningful participation to pricing strategy calls/meetings
• Effectively communicate, both internally and externally
• An ideal candidate will have 5+ years of direct real estate industry experience in the multifamily industry, including prior experience as an analyst
• Development, repositioning and/or value-add experience preferred
• Experience working with property managers and owners alike with proven results
• Good understanding of financial statement analysis, valuation and cash flow forecasting
• Experience with property operations
• Strong time management skills and ability to operate under demanding deadlines
• Ability to work autonomously, be proactive, take ownership of processes, multi-task and thrive in an entrepreneurial setting
• Strong proficiency with Microsoft Office Applications, including Excel
• Yardi real estate accounting software experience a plus
• Up to 50% travel required.
• Bachelor’s degree, preferably in Finance, Economics, Accounting, Real Estate or related field