Asset Manager (LA, Vegas, DFW, or PHX)

Job Description

COMPANY OVERVIEW

Tides Equities stands at the forefront of the commercial real estate market, renowned for our focus on acquiring and enhancing Class B value-add and core plus multifamily properties. With a dynamic portfolio of over 32,000 units and a track record of surpassing market-level execution, we are among the most rapidly expanding firms in the sector. We foster a culture brimming with positivity, teamwork, and growth potential, offering unparalleled opportunities for advancement to those who demonstrate exceptional performance.

POSITION DESCRIPTION: ASSET MANAGEMENT

SUMMARY

We are seeking a seasoned Asset Manager with a robust track record in multifamily real estate, especially within portfolios requiring significant renovation and strategic repositioning. This role demands a professional capable of not only overseeing a distressed value-add portfolio but also spearheading efforts to revitalize and stabilize these assets to achieve optimal performance. The position entails a significant amount of travel, particularly within Texas, to ensure hands-on management and transformation of properties.

Location: Preference for LA, Vegas, DFW, or PHX

Essential Responsibilities (included but not limited to):

• Drive optimal performance of a specified portfolio, focusing on strategic planning and hands-on oversight.
• Lead the execution of the value-add program in collaboration with the construction management team to ensure targeted returns on investment (ROI) are met or exceeded.
• Maintain an in-depth understanding of the cash positions across the portfolio, forecasting cash needs on a monthly basis to inform strategic decision-making.
• Cultivate and sustain relationships with lenders and investors, ensuring open, transparent, and timely communication regarding asset performance and projections.
• Continuously monitor market conditions to make informed, agile decisions that align with portfolio strategy and market opportunities.
• Develop and oversee the implementation of annual budgets and business plans, and perform reforecasting as needed to align with performance trajectories.
• Create and implement operational strategies that effectively reposition assets, including oversight of marketing, capital improvements, and tenant engagement to enhance asset value.
• Direct and evaluate 3rd party property management teams, ensuring stringent systems and controls deliver exceptional property operations.
• Craft, assess, and communicate detailed performance reports (monthly, quarterly, and ad-hoc) to stakeholders.
• Navigate annual budget processes, incorporating comprehensive capital improvement plans.
• Analyze financial and operational data to drive revenue growth and expense reduction.
• Recommend and enact improvements, based on in-depth analysis and industry expertise.
• Conduct regular property inspections to assess performance, management effectiveness, and capital needs.
• Scrutinize occupancy rates, operating costs, cash flow, and budget discrepancies, taking corrective action where necessary.
• Manage the performance of an analyst within the asset management team, providing guidance and mentorship to support their role and the broader strategic objectives.

Competencies

• Exemplary judgment and decision-making capabilities, particularly in complex and fast-paced situations.
• Independence in work ethic, evidenced by a history of self-motivation and successful collaboration within cross-functional teams.
• Adaptability within entrepreneurial settings and a hands-on contributor’s approach to team efforts.
• Superior organizational and time management skills, enabling the handling of multiple projects and deadlines efficiently.
• A process and results-driven approach, with a strong focus on customer and investor satisfaction, sustainability, quality, and innovation.
• An entrepreneurial spirit, ready to take on necessary tasks with enthusiasm and initiative

Qualifications

• 3-8 years of overall experience in multi-family real estate operations and asset management.
• In-depth understanding of multi-family real estate investment portfolios, asset and property management and corresponding market analysis.
• Successfully managed a geographically diverse multi-site portfolio.
• Proven track record in managing complex projects and teams, with an emphasis on financial analysis and forecasting.
• Excellent financial acumen, with a thorough understanding of financial statements and reporting.
• Effective interpersonal skills with the ability to develop and foster internal and external relationships. 
• Travel to properties will be required.
• Degree in Business, Finance, Real Estate Management or related field or equivalent experience.
• Strong computer proficiency, especially Excel.
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Tides Equities is an equal opportunity employer, valuing diversity and commitment to an inclusive environment.