Asset Management

Berkshire Residential Investments is a vertically integrated residential real estate investment and property management company with over 50 years of experience. Berkshire aspires to improve lives through expert capital stewardship and exceptional living experiences. Berkshire invests in affordable, middle-income, market-rate, and luxury apartments as well as senior housing, active adult housing, student housing, and residential asset-backed debt, based on specified investment strategies, and creates unparalleled living experiences for our residents.

We seek candidates with experience in multifamily asset management to assist with the oversight, performance, and management of investments in a portfolio of multifamily assets located in multiple markets throughout the U.S. The position will ultimately be accountable for creating and executing property business plans that maximize investment returns. This will include budget reviews and approvals, performance reporting, oversight of major capital renovations, evaluation of rent pricing strategies, and participation in acquisitions, dispositions, and property financings. The position will work collaboratively in a team environment with third parties and all facets of the Company including members of the Portfolio Management, Accounting, Property Management, Acquisitions, Capital Markets, Financing, Valuation, Research, and Legal teams.  

Essential Functions

• Prepare and oversee the execution of property business plans to optimize investment performance
• Participate in property-level decisions with the Portfolio Managers based on careful analysis and team input, including hold/sell, rent pricing, property budgets, and capital expenditures
• Manage property dispositions and refinancing opportunities alongside Berkshire team members and third-party legal counsel
• Work with acquisitions team to evaluate and onboard new investments from due diligence and underwriting through closing
• Perform asset-level valuation reviews including property performance and capital deployment effectiveness
• Develop excellent working relationships with all team members including JV partners, property managers, project managers, and third parties
• Review and make recommendations on loan documents, purchase and sale agreements, operating agreements, and vendor agreements
• Prepare financial models and property reporting packages
• Communicate investment status and plan to senior management and investors
• Visit markets and properties to validate business plan assumptions, monitor property operations, and identify opportunities and issues to improve operations
• Stay informed on market information and work closely with Berkshire’s Research team to stay abreast of their viewpoint and recommended course of action for each market they cover

Job Qualification Requirements

Knowledge and Experience:

• 4+ years real estate investment/asset management experience, multifamily preferred
• Strong analytical skills and experience with financial modeling using Excel or Excel-based tools
• Solid understanding of accounting, real estate finance, and key investment metrics
• Experience in successfully implementing and overseeing value-add capital projects to achieve significant ROI on multifamily assets
• Excellent written and verbal communication skills.  Ability to clearly present investment status and plan to senior management and investors
• Ability to produce excellent quality work that is thorough and accurate on a timely basis
• Works independently and with others; has complete ownership of work and projects
• Demonstrated flexibility to handle multiple projects in a fast-paced environment
• Team player who will work well with and seek input from members of other functional areas

Technical/Educational Requirements:

• An MBA, Masters, or Bachelor’s degree in a relevant area is preferred.
• Strong computer skills; experience with Excel, Word, and Powerpoint; experience with Yardi and/or Argus a plus.

Physical Requirements: (amount of standing, walking, sitting, typing, lifting, etc.)

• Stand and walk or sit alternatively depending on specific needs of the day.
• Have occasional need to perform the following physical activities:
  Bend/Stoop/Squat:  Frequent need
  Climb Stairs:   Rare need
  Push or Pull Reach Above Shoulder:  Frequent need
• Constant need to perform the following physical activities:
  Writing/Typing:   Frequent need
  Finger Dexterity:   Frequent need
  Grasping/Turning:   Frequent need
• Lifting/Carrying (paperwork, deliveries, files, computers, miscellaneous):
  20 lbs. - 25lbs.:   Rare need
  Less than 20 lbs.:   Frequent need
  Under 10 lbs.:   Constant need

Vision Requirements: (Visual needs for the position – color, small details, inspections, etc.)

• Constant need to complete forms, read and review reports and a wide variety of
  correspondence, view the computer screen. Frequent need to see small detail.

Hearing Requirements: (Hearing needs for the position –telephone, meetings, etc.)

• Constant need to communicate over the telephone and in-person with corporate level
  employees.

Speaking Requirements: (Clarity, customer interaction, presentations, etc.)

• Constant need to communicate over the telephone and in person.
• Must be comfortable speaking to senior management.

Travel Requirements: (Travel needs for the position – from property to property, travel, etc.)

• 25-30% travel may be required.

Reasoning Development: (Low, Medium, High – for the ability to apply logical thinking to defined
problem solving)

• HIGH.  Must be able to apply principles of logical thinking to define problems, collect
  pertinent data, establish facts, draw valid conclusions and initiate an appropriate course of action. Must effectively convey ideas, images, and goals to a diverse group of
  personalities.

Working Environment: (Indoors, Outdoors, special things to know about the job)

Indoors, office environment.