Director, Asset Management

Strategic role, working closely with the Vice President of Asset Management to manage all aspects of an institutional-quality property portfolio and associated strategic initiatives.  Drive value and deliver best in class performance for the OC/SD multifamily and mixed-use portfolio. 

Job Responsibilities:

• Overall responsibility for asset management within a portfolio of over 48 apartment communities, 12,500+ units and 200k+ SF of commercial space throughout Orange County and San Diego.
• Responsible for maximization of the assets value and NOI, which includes understanding asset position relative to market, asset specific restraints, developing property and portfolio specific value-add strategies and implementation thereof.
• Partner with leaders across Operations, Finance, Data/Research, and Redevelopment to prepare, execute and monitor performance of the annual strategic business plans for the properties and portfolio.
• Maintain strong understanding of local markets (competition, supply pipeline, demand drivers, major tenants, market absorption) for managed assets and identify outliers within the portfolio to redirect resources.
• Assist in the creation of asset plans by performing asset-level valuation including gathering of market data, reviewing property performance, and measuring each asset against its budgets and goals.Define clear objectives to drive improvements to asset and portfolio performance.
• Reviews annual capital expenditure budget and projects and makes recommendation for changes to proposed annual plan. Responsible to team with the capital department to plan for, track, or focus on the CapEx business plan so execution of the plan stays on time and within budget. Works with the Acquisition Team in conducting new property inspections, setting up DD, and working in collaboration on underwriting.

• • Prior leadership roles with a minimum of 7 years in asset management, including financial and strategic planning for mid-large real estate organizations. 

  • High degree of business and financial acumen. Strong analytical, organizational, time-management, attention to detail and accuracy, written and verbal communication skills.

  • Multifamily and commercial experience strongly preferred. Highly skilled in working across heavily matrixed organizations which require significant influencing and collaboration skills.

  • Ability to travel as necessitated by the projects identified.

  • Bachelor’s degree required with an advanced degree preferred.

  • Ability to work in the Irvine Corporate office 3 days a week, remote 2 days a week. 

    Strategic leadership role, working closely with the Vice President of Asset Management to manage all aspects of an institutional-quality property portfolio and associated strategic initiatives.  Drive value and deliver best in class performance for multifamily and mixed-use portfolio. 

     

    Job Responsibilities:

    • Responsible for a portfolio of over 40 apartment communities, 10,000+ units and 200k+ SF of commercial space throughout Northern California, Southern California and the Seattle regions.

    • The portfolio is comprised of Joint Venture structures with multiple partners.  Responsibilities include understanding all components of each Joint Venture structure.  Working directly with the CIO and Vice President of Asset Management to manage the partnerships.  

    • Responsible for maximization of the assets value and NOI, which includes understanding asset position relative to market, asset specific restraints, developing property and portfolio specific value-add strategies and implementation thereof.

    • Partner with leaders across Operations, Finance, Data/Research, and Redevelopment to prepare, execute and monitor performance of the annual strategic business plans for the properties and portfolio.

    • Maintain strong understanding of local markets (competition, supply pipeline, demand drivers, major tenants, market absorption) for managed assets and identify outliers within the portfolio to redirect resources.

    • Assist with the investment process in discovery, due diligence, analysis, underwriting, preparation, and submission of investment and reporting materials.

    • Assist in the creation of asset plans by performing regular physical inspections of properties to develop a thorough understanding of each property’s competitive position and its unique challenges.  Including gathering of market data, reviewing property performance, and measuring each asset against its budgets and goals.  Define clear objectives to drive improvements to asset and portfolio performance. 

    • Reviews annual capital expenditure budget and projects and makes recommendation for changes to proposed annual plan. Responsible to team with the capital department to plan for, track, or focus on the cap-ex business plan so execution of the plan stays on time and within budget. Works with the Acquisition Team in conducting new property inspections, setting up DD, and working in collaboration on underwriting.

     

    Experience, Education and Skills:

   

  All full-time regular associates are offered competitive salaries, experience career growth, and are eligible for benefit packages that include medical, dental, vision, paid parental leave, 401k employer match, excellence rewards, wellness programs, and much more. With our Sunday property operations office closures, 10 paid holidays, and 15 PTO days, work/life balance is a priority! Additionally, most positions are eligible for a housing discount of 20%.

   

  Essex provides great communities in which to live, work and invest. We are a purpose-driven company, and we pride ourselves on promoting an internal culture of growth and opportunity by engaging, enabling, and empowering our teams. Working at Essex is not a destination. It is a journey where you can confidently build your career.

   

  The salary range for this position is $148,000.00 - $237,000.00 per year. New hires generally start between $148,000.00 - $193,000.00 per year. The final salary offer will be determined after reviewing relevant factors, including but not limited to skill sets; relevant experience; internal equity; and other business and organizational needs.

   

  This role is also eligible to participate in Essex’s discretionary Annual Bonus program that is commensurate with the level of the position.