Job Description

Description

The firm is seeking a seasoned Vice President / Director of Asset Management. This position will oversee a portfolio of multifamily assets, which includes stabilized assets, repositioning, ground-up development, and/or redevelopment projects. The position requires a robust track record with 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 to ensure hands-on transformation of properties. The position will be based in the Firm’s Hollywood office, placement will also be considered in our Brooklyn, NY office and remote work will be considered as well.

Description

Monitor and report on the financial and operating performance of multiple multifamily assets against business plans and original underwriting.
The asset manager will be required to travel to portfolio properties to assess the overall condition of the real estate, the status of capital plans, the property manager on site, joint-venture partner engagement, and the performance of the market. Expected travel is ~2 days per week/average.
Actively update revenue, expense, and overall strategy in real-time to maximize property level performance.
Maintain an in-depth understanding of the cash positions across the portfolio, forecasting cash needs monthly to inform strategic decision-making.
Scrutinize occupancy rates, operating costs, cash flow, and budget discrepancies, taking corrective action where necessary to drive revenue growth and expense reduction.
Develop and oversee the implementation of annual budgets and business plans, and perform reforecasting as needed to align with performance trajectories.
Track property-specific critical dates and deliverables such as tax management, annual audits, accounting deliverables, debt maturities and covenant compliance, development/construction issues, leasing targets and timing, etc.
Significant property level engagement and guidance provided to property management company.
Active engagement in property branding, property programming, and lease-up strategy, and management of marketing firms, capital improvements, and tenant engagement to enhance asset value in conjunction with the management company.
Supervise development and renovation projects with the support of internal and third party construction management.
Work directly with the underwriting and acquisition team in evaluating potential investments.
Leverage industry relationships with operators, managers, consultants, and other contacts to evaluate markets, identify solutions to challenges and deliver creative strategies to solve challenges at prospective and existing properties.
Active participation in industry organizations and events

Requirements

Minimum of 7 years of relevant real estate asset management experience, inclusive of 3 or more years of experience in multifamily real estate in multiple states and markets.
Strong operational and leadership skills; the successful candidate will be a “hands-on” leader of the Asset Management team.
Experience working with operating partners and negotiating third-party contracts including property management partners.
Strategic perspective – candidates must have been involved in developing strategies for investments and possess strong execution capabilities.
Strong financial, analytical, and computer skills with proficiency in Excel; experience with Yardi a plus.
Sound judgment with the ability to identify the relevant questions and important issues when evaluating a situation.
Self-motivated with the ability to make independent decisions.
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.
Regular Travel to properties will be required.
Degree in Business, Finance, Real Estate Management or related field or equivalent experience.