Pittsburgh, PA
Salary Estimate: $100,000.00 - $124,999.00
Employment Type: Full Time
Work Place: Office
Experience Required: 5+ to 7 years
Education Required: 4 Year College
Benefits
Job Description
- Maintain comprehensive oversight of existing operating assets. Collaborate with executives to develop business plans and objectives for the portfolio.
- Prepare budgets, forecasts, monthly performance reports, timelines, and management plans. Implement an initiative-taking, process-driven approach to execute asset’s business plans, collaborating with acquisitions, property operations, design and construction, portfolio managers, accounting, investor reporting and capital markets teams.
- Monitor asset performance and returns. Analyze actual monthly operating statements against budget and business plan and report on variances. Recommend operational or financial strategies to optimize returns at the asset level.
- Identify strategic opportunities within the portfolio to increase revenue or decrease expenses. Seek opportunities to leverage technology to add value at both corporate and property levels, collaborating with the IT team to identify, evaluate and implement.
- Execute asset-level business plans including marketing, leases, and sales plans along with investment strategies for each asset’s operation and capital improvements.
- Supervise the planning, budgeting, and control of capital expenditures. Ensure that timing of capital expenditures and unit renovation programs is consistent with the business plan.
- Oversee the insurance renewal processes. Manage property allocation and explore cost-saving insurance alternatives.
- Form a close relationship with property management personnel at all levels to successfully monitor the daily operations and maximize the profitability of each asset. Strategize with property management to establish the revenue, expenses, NOI, capital expenditures, and the subsequent rent lift associated with the overall business plan.
- Conduct routine site visits and inspections to ensure properties meet brand standards. Compare properties to competitors and evaluate their market position. Develop, recommend, and implement value-add action plans.
- Closely monitor all elements of financial performance; analyze financial statements and make necessary operating adjustments. Prepare cash flow forecasts and manage and optimize cash flows and distributions. Identify and communicate issues that could adversely affect operations of an asset.
- Prepare sale recommendations, refinancing strategies, or other re-capitalizations for leadership review.
- Proactively analyze economic trends for each specific asset and the related market. Gather and analyze market data to identify trends and related impact on real estate values or investment strategies.
- Monitor interest rate and debt markets for refinance opportunities.
- Bachelor’s degree in business, finance, real estate, or a related field.
- 7+ years of real estate asset management experience.
- Strong financial acumen and problem-solving skills. Proven history of successful financial planning and budgetary control.
- Excellent oral and written communication and reporting capabilities.
- Experience with CAPEX management and cash flow optimization.
- Successful team mentorship and performance oversight experience.
- Willingness to travel and visit properties periodically.
- Strong commitment to customer service and a service-oriented mindset.
- Strong multi-tasking, time management and decision-making skills.
- Ability to set personal and project priorities and demonstrate strong organizational skills in day-to-day and long-term planning and execution.
- Proficiency in Microsoft Office, PowerBI and other industry-specific computer software.
The Buncher Company
• 1-100 employees
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