Associate - Residential Asset Manager

Job Description

QuadReal is seeking an Associate Residential Asset Manager with a preferred focus on student housing/alternative residential investments to join its International Team. The individual will oversee U.S. joint venture portfolios and interact with partners to ensure that asset strategy plans are developed and executed to optimize property values and investment returns and ensure QuadReal’s interest remains aligned with strategic or tactical operating goals. The position will additionally require close collaboration with Portfolio Management, Regional Investment teams and senior leaders within the company on a variety of internal and external projects. The role will report to the Vice President International Asset Management and will be based in New York, NY or Los Angeles, CA.

Responsibilities

• Take active role in oversight and day-to-day management of student housing, manufactured housing, and other alternative residential investments within the broader US residential portfolio under VP, International Asset Management

• Work with the Investment Teams and joint venture partners to develop comprehensive asset strategies including construction & development, leasing, property improvements, capital budgeting, risk management, and hold/sell analysis

• Remain current on competitive landscape and investment trends for alternative residential categories including student housing, manufactured housing, SFR, short-term rentals, etc. and present findings internally as needed or on a periodic basis

• Supervise the annual budget process with investment partners, internal analyst resources and Investment teams

• Analyze and compare current year and historical financial and operational performance and key metrics against annual budget and underwriting

• Aggregate asset management data and prepare in conjunction with Portfolio Management monthly, quarterly, and annual reporting with for clients, senior management and BCI (as required)

• Assist in monitoring development and renovation projects with oversight by in-house Development Director

• Prepare hold/sell analyses, internal valuation/valuation support, major decision approvals and other investment decisions in conjunction with the Investment Team

• Assist in furthering key asset management initiatives to create, enhance, streamline, and standardize various performance tracking and/or reporting templates

• Collaborate with the Regional Investment teams in the due diligence process for new investments and asset dispositions in regard to underwriting assumptions (market rent, rent growth, expenses, lease recovery structure, etc.)

• Liaise with research and investment teams to stay current on local market dynamics and understand its impact on how each asset is positioned in its respective market.

• Utilize market intelligence and data subscriptions to analyze rental comparables, supply pipeline forecasts, capital markets, macroeconomic demand drivers, national university enrollment trends, etc. to evaluate existing portfolio performance and new investment opportunities

• Develop in market relationships with service providers and the brokerage community to understand an assets competitive positioning relative to rents, lease terms, vacancy, supply/demand fundamentals, construction costs. pricing parameters and capital market trends

• Provide mentorship and training to analysts in the portfolio and asset management team as required

• Travel to assets to meet with onsite teams and joint venture partners

Education & Qualifications

• Bachelor’s degree; preferably in Real Estate, Finance, Accounting or a related discipline with strong academic credentials and a passion for real estate

• Minimum 5+ years of asset management experience in the multifamily real estate industry, with strong preference towards focus in student housing and/or alternative residential categories

• Demonstrated experience in analyzing complex investment issues and developing and executing investment strategies to achieve results and mitigate risk

• Advanced financial modeling skills and user of MS Office suite (Excel, Word, PowerPoint, Outlook, OneNote)

• Proficient in Argus, Yardi, RealPage or other valuation, financial systems, and revenue management/leasing tools

• Excellent oral and written communication skills with the ability to clearly, and concisely, communicate to internal teams and external stakeholders and appropriately manage diverse points of view

• Ability to prioritize workload and handle competing priorities and deadlines
• Self-starter with the ability to independently complete projects and anticipate next steps

QuadReal Property Group will provide reasonable accommodation at any time throughout the hiring process for applicants with disabilities or for those needing job postings in an alternate format. If you require accommodation, please advise the Talent Acquisition team member you are working with and include the following: Job posting #, your name and your preferred method of contact.

QuadReal has introduced a mandatory COVID-19 vaccination policy that requires full vaccination against COVID-19 for everyone working in our offices or sites. Accordingly, a successful candidate offered employment at QuadReal will need to provide proof of full vaccination prior to commencing employment, subject exemptions permitted under applicable employment and human rights legislation