Empire USA LLC is searching for an experienced Asset Manager with direct experience in managing multi-family assets. The ideal candidate will have multiple years of direct exposure to managing apartment buildings, including oversight over third party management companies that are primarily responsible for the day to day operations of the assets. Additional consideration will be given to those candidates that also have experience in managing hotel assets.
Empire USA is an established investment firm with a 30+ year track record of successful ventures in the multi-family and hotel sectors of real estate. Operating in multiple Tier I markets across the Western US and Hawaii, Empire has assembled a premium portfolio in cities such as Los Angeles, San Francisco, Portland, Seattle, and Las Vegas. Empire has consistently grown returns through a disciplined approach of acquiring assets at below market bases in premium locales, at opportunistic times in each economic cycle. Combining that approach with a variety of value add strategies has lead Empire to consistent growth year over year, and the generation of above market returns over the past four decades of real estate.
Seeking an experienced Asset Manager to join our Santa Monica real estate investment firm. The position will interact with various functional areas with particular emphasis on Multi-Family Property Operations. The Asset Manager will be responsible for a property portfolio in the California, Oregon, Hawaii, Nevada markets.
The successful candidate must have knowledge of strategic planning in a multifamily real estate context. This individual will be working in a rapidly growing, dynamic, and collaborative environment with responsibility for continually representing the owners’ financial interest through the entire investment cycle. The Asset Manager is responsible for managing all phases of the asset management.
Other asset management responsibilities will include support of acquisitions team with underwriting, managing complex real estate issues for the firms portfolio as they arise.
Specific responsibilities include the following:
· Monitor and evaluate financial operating results to enhance cash flow and profitability.
· Complete monthly review of financials and narratives, review weekly project data including leasing reports, traffic reports, and delinquencies.
· Establish long-term and short-term initiatives to maximize investment returns. Evaluate property performance to assist in strategic business planning. Establish and enforce benchmarks, guidelines, and policies.
· Work collaboratively with property management to identify challenges and execute timely and effective solutions. Troubleshoot renovation execution challenges, including leasing issues, rent performance, excess turn times, etc.
· Conduct site visits on a regular basis to include but not limited to review of: curb appeal, status of capital improvement projects, model inspections, expense approvals, and personnel issues.
· Manage the annual budget review and approval process for the assigned portfolio. Work collaboratively with property management on budgets, staffing, capital improvements, and other programs.
· Oversee tax appeal issues and maintain regulatory and lender compliance.
· Effectively present information and respond to questions from groups of executives, investors, lenders, and partners.
· Provide support for due diligence and acquisitions, when needed.
· An academic background with a college degree. Finance, Business, or Real Estate or other relevant fields is strongly preferred.
· A minimum of 5 years of experience in relevant multifamily redevelopment, asset management, property management and/or acquisition work experience in the multi-family/property management industry. Multifamily experience is required and hospitality sector positive
· Demonstrated experience asset-managing a large multi-family portfolio
· Superior analytical and problem-solving skills, with demonstrated track record of providing creative and innovative solutions to real-time challenges. Go-getter, can do personality.
· An investment mindset with a thorough understanding of financial calculations/metrics and analytical skills. Must be well-versed in project proforma and understanding deals, and articulate, both orally and in written form, the case for a specific project. Should have both an intuitive and a detailed sense of the dynamics, risks, and structured financings of each transaction.
· Proficiency with Word, Excel.
· Strong presentation, negotiation and communication skills.
· Sound decision making ability with the experience to balance consensus against authority as appropriate.
· A team player with leadership skills.
· Excellent organizational and time management skills. Ability to provide clear direction and balance competing priorities. Able to work with time sensitive, detail-oriented material and meet multiple deadlines across various markets. Has experience managing multiple projects successfully through constantly changing priorities.
· Ability to travel
Job Type: Full-Time
Required Education: 4 Year Degree
Required Experience: Direct 4 Years
Local Candidates Preferred