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MIG Real Estate

Director/Senior Manager of Multifamily Asset Management

Salary
Competitive
Employment
Full Time
Real Estate Field
  • Asset / Portfolio Management
Location
Phoenix
 AZ
Postal Code
85254
Country
United States

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Description


JOB DESCRIPTION – MIG REAL ESTATE

 

TITLE:                  Director/Senior Manager of Multifamily Asset Management

LOCATION:        Phoenix, Arizona

 

MIG Real Estate (“MIG”) is a private real estate investment firm located in Newport Beach, California. MIG owns and operates over $2 billion of real estate investments in multi-family, office, hotel, retail, and industrial properties located in the Western U.S. and sun belt states. The company’s current investments include over 6000 multifamily units, including, 1400 units located in the Denver metro region.

 

MIG is currently seeking a qualified individual with at least 7 years’ experience to serve as a regional Director/ Senior Manager of Multifamily Asset Management to drive results, streamline process and enhance the profitability of MIG’s existing multifamily portfolio in Phoenix, Arizona. MIG intends to invest a substantial amount of equity in multifamily assets over the next several years in the Phoenix region and will need a highly organized, enthusiastic candidate with strong financial acumen and interpersonal skills who can work with design and construction management professionals to execute renovation strategies and motivate property management and in-house support teams to meet stringent deadlines and budgets. Ideally, this person will have some acquisition and underwriting experience with the ability to support and enhance MIG’s acquisition and due diligence efforts in the region.

 

RESPONSIBILITIES:

 

The Director/Senior Manager of Multifamily Asset Management will be located in Phoenix and will be responsible for setting and implementing financial, business, and management strategies/tactics for MIG’s multifamily investments with the objective of maximizing value.

The person filling this position will provide hands on asset management to successfully complete value add business plans for the existing multifamily portfolio. The ideal candidate will have proven leadership skills, a “can do” attitude, and work well multitasking under tight deadlines. This person will drive property performance from every level and must successfully execute the value-add renovation strategies and capital projects necessary to achieve maximum return on investment. The ideal candidate will be a professional with a proven track record of successfully enhancing the value of multifamily assets through creative strategies and effective leadership. 

 

This position will require the following competencies:

·        Diligent asset management of the multifamily portfolio (revenue enhancement, expense management, renovation projects, marketing programs, reputation management, etc.)

·        Experience managing significant capital projects, including common area and unit renovations

·        Experience working with design and construction professionals to quickly achieve project execution and control costs

·        Effective communicator, able to set priorities, provide direction, motivate on-site personnel, and measure performance of selected construction and property management teams to successfully execute value add strategies

 

 

·        Strong financial acumen with demonstrated ability to understand portfolio financing and investment goals and work with on-site teams to achieve financial results

·        Comprehensive understanding of multifamily market for B+ to C+ properties in Phoenix metro region with track record of successful execution of marketing programs and strategies

  • Ensure renovated units and condition of the overall property continually meet MIG standards
  • Work with construction managers to develop “scopes of work” for capital improvement projects; oversee operator project management and track ROI thereafter
  • Analyze asset performance versus original underwriting and competitive set performance to adjust management strategies as necessary
  • Work with acquisitions, finance and analyst teams to complete due diligence on new acquisitions in the region

·        Prepare and present annual budgets and business plans for each asset that illustrate entrepreneurial strategies for adding value, and enhancing performance

·        Lead operations strategy - set clear goals and expectations relating to revenue, expenses, occupancy, and collections

·        Survey sites and structures with property management and construction teams to establish best practices for capital preservation and ongoing maintenance procedures

·        Drive performance of property managers to meet or exceed budget and business plan metrics; provide recommendations for improvement or change

·        Monitor market/submarket conditions (major employers/economic drivers, new supply, strategy of competitive properties, etc.) and modify operational strategy accordingly

·        Recommend and implement strategic approach for each asset to drive traffic, leasing and highest achievable rent

·        Review and approve contracts, operating statements and other related operational information

 

QUALIFICATIONS AND QUALITIES:

·        Bachelor’s Degree is required

·        Minimum of 7 years of asset management experience with value-add multifamily investments preferably in the Phoenix market

·        Demonstrated ability to grow NOI through creative value enhancement strategies and proven execution

·        Leadership experience - success in motivating team members to achieve goals

·        Prior success in executing fast paced renovation projects on time and within budget - some experience with student housing is desirable

·        Strong analytical skills – ability to gather data and make sound recommendations for strategic action

·        Strong communication skills – ability to provide clear and concise direction, support recommendations to senior management, constructively advocate or defend a position, and convey critical information succinctly, verbally and in writing

·        Nimble and creative, able to “think out of the box”

·     Comprehensive knowledge of computer applications, spreadsheets and modeling concepts

·     Self-motivated and willing to wear many “hats” as required for a fast-paced, growing company

·     Professionalism and integrity are paramount qualities of MIG employees

 

CORPORATE CULTURE:

·        Ethics and integrity are paramount when representing the company

·        Ability to lead and understand the importance of getting others to do their jobs with enthusiasm and independence, yet with general framework of direction set forth in a predetermined strategy for the business

·        Sensitivity to change and ability to quickly adapt in a business world in constant evolution

·        Ability to manage time, stay organized and the desire to learn and excel

·        Ability to think strategically, work well with a wide variety of people and value the importance of teamwork

 

Job Functions


  • Asset Management
  • Finance
  • Portfolio Management
 

Job Sector


  • Residential
 

Experience


5+ to 7 years


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