Real Estate - Asset Management Associate

Job Description

Job Title

Real Estate Asset Management Associate

About M1 Ventures

M1 Ventures (M1) is a real estate private equity firm with investments in California and New York City. M1’s primary focus is investing in multifamily, retail and office buildings through core, value-add, and opportunistic business plans to generate superior risk-adjusted returns. M1 places a high emphasis on investing in exceptional locations by way of meticulous analysis. M1’s NYC portfolio includes properties on Madison Avenue’s “Gold Coast” and Soho. Since its inception in 2019, M1 has completed more than 15 transactions totaling $200M of aggregate deal value and plans to double its holdings in the next 18 months. M1 is looking for an asset management associate to participate in its short and long-term growth and oversee a significant part of the portfolio. The company culture is analytical, detail-oriented, results-driven, pro-active, collaborative and offers its next team member extensive exposure to transactional experience.

About the Role

M1’s team currently consist of three people. This role is meant to oversee operations for a majority of the M1 portfolio and drive success according to the business plans for each investment. This position is based in the M1 New York office in Soho and reports to the head of Asset Management. This is not a remote position.

Responsibilities

• Lead operations of all investments to achieve end-of-year cash distribution goals
• Oversee third-party property managers and ensure constant alignment with business plans
• Monitor performance of all investments against budgets and industry metrics, recommending ways to increase revenue and reduce expenses, and making strategic decisions on an ongoing basis to achieve business plan goals
• Maintain a deep understanding of all investments and their challenges, evaluating opportunities to implement initiatives, and communicate those opportunities to senior management
• Prepare financial and operational reports for senior management, partners, and investors, adhering to company reporting format and procedures
• Negotiate contracts with contractors and other vendors to drive successful capital expense and maintenance & repair projects
• Oversee leasing for all investments, ensuring units are leased at market rents or higher and execute strategies to reduce vacancy, turnover, and broker leasing commissions
• Lease units from time to time

• 2-3+ years of experience in New York City asset management or property management with significant understanding of New York City real estate terminology
• Understanding of accounting and real estate financial statements
• Ability to switch between multiple tasks in different assets while adhering to an organized system
• Ability to effectively communicate goals of each investment to third-party property managers
• Strong written, verbal, and interpersonal skills
• Proficiency in Microsoft Excel and Microsoft Word
• Bachelor’s degree required; MBA/Master’s degree preferred