Director of Asset Management

Job Description

Company:                         Farpoint Development, LLC

Position:                           Director of Asset Management

Location:                           Chicago, IL

Company Info:                Farpoint Development was founded by a group of established, knowledgeable and passionate developers whom over the past 30+ years have a proven track record across a broad spectrum of asset sizes and types. We specialize on finding undervalued commercial real estate properties and investing in them to realize their full potential.  In achieving this realization we pride ourselves on building trust and confidence with our employees, investors, and vendors.  We believe that people are our most important asset.  Through this culture and discipline, we have been able to successfully produce unparalleled returns for its investors. 

Responsibilities:            Lead and oversee asset management team (5 team members in Chicago/Asheville).  Directly support ownership and project management team through the creation and evaluation of complex financial models related to commercial real estate developments and investments.  Will have the opportunity to be exposed to various product types (e.g., life science, industrial, etc.) with a more focused concentration on residential. This person will help us set the course for what we will buy and what we will develop and help lead overall acquisition/disposition strategy.  He or she will have a strong leadership role within the company and will be in daily contact with the principals as well as the managing director for development. 

Specific responsibilities include:

• Evaluate and underwrite potential acquisitions, redevelopments, and ground-up developments.
• Manage acquisition due diligence and closing process.
• Maintain and help to manage capital market relationships.
• Develop and maintain overall project budget and schedules.
• Create and maintain financial models using Excel and Argus.
• Prepare, review and edit investment summaries and assist in coordinating transactions with equity and debt partners including maintaining data rooms and transfer of materials.
• Assemble market research on demand fundamentals and maintain competitive set analysis for each property type/submarket.
• Monitor and execute on the approved annual real estate asset strategy to ensure achievement of targeted financial results.
• Work diligently with external partners, including property managers, contractors, accountants, leasing agents and other professionals to ensure optimal real estate performance.
• Review and familiar with purchase and sale contracts, Joint Venture Operating Documents, as well as any other organizational and transactional documents.
• Support disposition efforts of real estate assets including contract negotiation, transaction management and closing.

Qualifications:                Qualified candidates must possess the following:

• • • • Possess excellent collaborative skills to work in partnership with ownership as well as having strong leadership skills to manage asset management team.
      • Strong relationships with lenders, capital providers, and debt brokers.
      • 10+ years of commercial real estate exposure.
      • Extensive experience within the multifamily/residential sector.
      • Experience with ground up development.
      • Experience with creating and manipulating complex financial models.
      • Ability to communicate information succinctly and anticipate and resolve issues/problems on a proactive basis.
      • Detail-oriented and organized, yet flexible, in a dynamic environment with a focus on meeting deadlines.
      • Strong work ethic with the highest degree of honesty, integrity and discretion.

Farpoint Development offers a salary commensurate with qualifications including medical, dental and paid time off.  Farpoint Development is an Equal Opportunity Employer.  Candidate should be prepared to submit references, if requested.