Asset Manager

Job Description

Who We Are

We are honored to be recognized as a multi-award winning organization, including one of the Best Places to Work in Multifamily Housing for 2019.  At CWS, we recognize these awards are won because our greatest asset is our people.  CWS’ competitive advantage is to hire leaders with qualities which allow them to successfully interact with colleagues and others in the workplace and beyond.  Through your leadership, you are not just exemplifying CWS’ strategy, you are expressing who you are and what you stand for as a leader. 

Our five core values we embody are: Honoring Our Word, Ethical Dealings are Paramount, A Respect for People, Requirement for Profitability and Sustainability, A Demand for Excellence with a Sense of Urgency. 

What We Do

Since 1969, CWS has delivered exceptional living experiences for our customers. Over the years, our company has expanded and we’re proud to serve more than 60,000 residents and 800 team members across the country. We believe our success is a product of staying true to who we were at the onset. As a result, our daily actions are designed to deliver on our purpose of “Enhancing Lives the CWS Way.” We have a signature style which includes friendly associates, responsive service, well-designed floorplans, unique amenities, and spotless communities.

What You Will Do

As the Asset Manager, you will be responsible for overseeing the western multifamily assets with a focus on driving long-term asset value for the investor through analytical, strategic, and proactive decision making. You will be responsible for formulating and executing the business plan on behalf of the investors, overseeing all capital projects, and monitoring investment performance. Currently, the western portfolio consists of over 4,000 units in the states of Washington, Colorado, Arizona, and California. This position can be based in Denver, Phoenix, or Newport Beach. 

What Your Day Consists Of

• Work closely with internal property management to ensure that the asset is hitting or exceeding goals as outlined in the business plan, budget, and/or proforma
• Develop, execute, and oversee comprehensive management and optimization strategies for each asset
• Modify business plans based on operating results, market dynamics, and/or changing investor objectives
• Conduct monthly financial reviews of each asset with internal property management and investors
• Create and communicate recommendations to maximize returns for each asset to create long-term value
• Communicate with investors and principals regarding property performance, financials, capital projects, renovations, and staffing
• Understand and communicate forecasted performance versus actual to investors and corporate departments
• Prepare specific and accurate monthly, quarterly, and annual reporting tailored to each investor’s needs or requirements
• Prepare annual operating and capital projects budgets for each asset
• Prepare monthly cash flow projections for each asset
• Regularly review property performance to budget, proforma, market, and portfolio
• Complete stress test cash flow projections and extended forecasts
• Monitor cash flow and distributions
• Identify and oversee capital projects planning, property renovations, and preventative maintenance projects on an on-going basis
• Analyze capital projects to determine need, feasibility, and corresponding value-add
• Analyze data regularly to identify opportunities and improve performance
• Recommend income generating and expense savings ideas
• Analyze potential acquisitions and help determine sales candidates
• Collect and summarize market research for existing assets and potential acquisitions
• Maintain supply information that would impact existing assets and target markets
• Establish annual tax strategy for the asset and work closely with tax consultants to achieve the best possible result
• Perform asset valuation reviews and hold-sell analysis as needed – including gathering market data, reviewing property performance, and analyzing and establishing the competitive set
• Analyze and monitor debt obligations, covenants, terms, and maturity dates
• Establish best strategy for retail component of assets, negotiate and review retail leases, and address tenant requests or needs
• Prepare any ad-hoc investor, partner, or executive management requests
• Conduct regular site visits of each asset in the portfolio

Minimum Qualifications:

• Bachelor’s degree in a real estate, finance, accounting, economics, or related field
• 5-10 years applicable experience required including a minimum of 2 years in asset management
• Demonstrated competence with Excel, Word, and PowerPoint
• Ability to communicate effectively with other departments, senior management, and investors
• Strong reporting and analytical skills
• Strong financial acumen and ability to articulate financial implications of decisions
• Experience in producing and reviewing budgets and long-term forecasts
• Skilled in conducting meetings with informed and knowledgeable parties
• Familiarity with property managements software systems such as RealPage
• Strong financial modeling skills
• Detailed financial statement analysis and proforma analysis
• Retail property management experience is a plus

Essential Knowledge, Skills, and Abilities: 

• Excellent communication, organizational, and time management skills
• Highly organized, detail-oriented, able to handle multiple concurrent projects
• Ability to independently identify and solve key business problems.
• Self-motivated
• Ability to prioritize and multi-task in a fast-paced environment
• Positive attitude and ability to work in a team environment
• Comfortable interacting with levels of the organization
• Problem solver and self-starter
• Demonstrated leadership skills
• Able to establish and maintain effective working relationships

Other Considerations:

• Ability to travel is required