Senior Asset Manager of Multifamily Asset Management

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 6,800 multifamily units, including, 2,271 units located in Texas.

MIG is currently seeking a qualified individual with at least 7 years’ experience to serve as a regional Senior Asset Manager -Multifamily  to drive results, streamline process and enhance the profitability of MIG’s existing multifamily portfolio in the Texas region.  MIG requires that this candidate be located in Texas.  MIG intends to invest a substantial amount of equity in multifamily assets over the next several years and will need a highly organized, enthusiastic candidate with strong financial acumen and interpersonal skills who can execute renovation strategies and motivate property management and in-house support teams to meet stringent deadlines and budgets. This person should have experience in underwriting and financial analysis sufficient to support MIG’s acquisition and disposition activities in Texas target markets.

RESPONSIBILITIES:

The Senior Asset Manager will be located in Austin 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 over a regional portfolio.

The person filling this position will provide hands on asset management to successfully complete value add business plans, acquisitions and dispositions for the existing and growing 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. 

This position will require the following competencies:

• Strong track record of proven successful multifamily portfolio asset management (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 business plans
• 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 the Texas region with track record of successful execution of marketing programs and strategies
• Analyze asset performance versus original underwriting and competitive set performance to adjust management strategies as necessary
• Work with revenue management platforms and professionals to maximize gross potential rent
• Work with acquisitions, finance and analyst teams to complete underwriting and 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
• Monitor market/submarket conditions (major employers/economic drivers, new supply, strategy of competitive properties, etc.) and modify operational strategy accordingly

QUALIFICATIONS AND QUALITIES:

• Bachelor’s Degree is required, preferably in finance, real estate, business or economics
• Minimum of 7 years of asset management experience with value-add multifamily investments  in the Texas region
• Demonstrated ability to grow NOI through creative value enhancement strategies and proven execution
• Leadership experience with 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 with ability to gather data and make sound recommendations for strategic action
• Strong communication skills with 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

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 to work towards achieving the overall strategic plan for the region.
• 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