Dallas-based, privately held commercial real estate development and investment management company with exceptional performance specializing in value-add and opportunistic real estate investments. With an entrepreneurial spirit and proven 30-year track record across several market cycles they have steadily built up a portfolio of over 12 million square feet of industrial and office properties and 3,000 multifamily units located nationally.
The Director of Asset Management - Multifamily located in our Dallas, TX office will be responsible for providing Asset Management leadership and strategic direction for the Multifamily business unit. This includes setting overall financial and operational goals and reporting on progress, variances and issues to company executives as well as directing, supervising and monitoring the activities of our third party property management portfolio staff.
KEY RESPONSIBILITIES / DUTIES
The activities listed here are not all-inclusive; rather, they indicate the types of activities normally performed by this position. The successful candidate will be able to demonstrate core competencies in the following areas:
- Primary responsibilities will include managing a portfolio of 7 to 10 multifamily assets, which includes business plan preparation and presentation, developing monthly cash flow projections, monthly and/or quarterly reporting, oversight of third party service providers, capital plan oversight, business plan execution, and ultimate disposition of real estate assets.
- Be a key thought leader in evaluating real estate opportunities through the Westmount investment acquisition process.
- Ensures documentation and adherence to Asset Management policies and procedures as well as develop and process improvements for efficiency and profitability.
- Enhances controls program to ensure financial accuracy, and protection of company, owner assets and resources.
- Tours and inspects properties regularly; gaining market knowledge; coordinating competitive surveys and management business strategies for company and owners.
- Reviews and approves annual budgets for the portfolio; review and recommend capital expenditures; ensure timely and accurate compliance with approved budgets.
- Reviews and approves property financial and property reporting, ensuring deadlines are met in an accurate and timely way.
- Ensures that objectives are being met. Prepares and delivers timely, accurate and complete reports.
- Supports all property sales and acquisitions by participating in the due diligence process.
- Oversees and takes key ownership of real estate tax appeals.
- Manages risk assessment and oversees insurance compliance.
- Performs other duties as assigned.
- Monitor specific performance measures on a weekly and monthly basis to identify trends and opportunities and provide regular updates to senior management.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and EXPERIENCE
- Bachelor's degree (BA/BS) from four-year college or university.
- Minimum of ten years of related experience and/or training.
- Experience with both market rate and affordable properties (HUD Section-8, Section 42 LIHTC, HAP contract compliance).
- Property management experience with oversight of large apartment communities (more than 200 units) preferred.
- Affordable housing experience a plus.
- Professional affiliation recommended (i.e. CAPS or CAM designation preferred).
- Excellent written and verbal communication skills. Strong organizational and analytical skills.
- Ability to provide efficient, timely, reliable and courteous service to customers.
- Ability to effectively present information.
- Ability to respond effectively to sensitive issues.
- Ability to comprehend, analyze, and interpret complex documents.
- Ability to comprehend legal language necessary, including but not limited to Fair Housing Laws.
- Ability to solve problems involving several options in situations.
- Requires advanced analytical and quantitative skills.
OTHER SKILLS and/or ABILITIES
- Intermediate to advanced skills with Microsoft Office Suite.
- Familiarity with MRI highly desired.
SCOPE OF RESPONSIBILITY
Decisions made with thorough understanding of procedures, company policies, and business practices to achieve general results and deadlines. Responsible for setting work unit and/or project deadlines. Errors in judgment may cause short-term impact to department.