Job Description

SENIOR ASSET MANAGER (DOE)

NEW YORK CITY, NY

OUR FIRM

KM Partners is a rapidly growing national Retained Executive Search & Professional Recruitment firm representing C-level Executive Leadership, Middle Management, and experienced Associates. We specialize in Real Estate & Development with a strong focus in Affordable Housing & LIHTC across the country. Many of our clients are dynamic and forward-thinking, strategically working to develop sustainable construction and green housing while revitalizing communities by integrating housing, employment, healthcare, services and education.

OUR CLIENT

Ranked in the Top 10 in the US for acquisitions and is one of the Top 10 largest owners of Affordable Housing in the country. This leading developer, owner and investor in sustainable, affordable, and mixed-income multifamily real estate has been recognized throughout their history for design excellence and for creating successful products that enhance the lives of their residents. For more than a decade, they’ve been making value-add investments through private equity funds and taking on new, ground-up projects as well as extensive rehabilitation and renovation projects.

THE OPPORTUNITY

The primary function of all Asset Managers is to think and act like an owner, while ensuring that each property and its respective portfolio meet the financial, social, and environmental goals.

Create value across the portfolio while providing quality, healthy green housing for the residents you serve
Draft the property business plan based on the initial acquisition goals and updates the plan no less than annually to reflect property performance and market conditions
Review property financials with Property Management monthly and reports quarterly to investors and/or executive team
Advise the Property Manager on all aspects of the properties including annual budgeting, capital improvement planning, physical property conditions, leasing and marketing
Think strategically and assesses business decisions specific to the properties as well as holistically across the portfolio
Appropriately weigh short-term decisions with longer-term goals
Take initiative to seek new responsibilities

Essential Job Functions

Provide financial oversight of the property in context of the overall portfolio, including drafting the initial business plan, providing guidance on operating budgets and 5-year cap-ex plans to meet or exceed business plan goals, monitoring the monthly financials to assess performance against budget
Act swiftly to address budget variances exceeding 5%
Fully understand the economics of a deal and continuously seek to optimize value
Draft timely, detailed and accurate reporting by synthesizing relevant information and extracting data from several sources for both internal use and external investor reporting on a quarterly and annual basis
Meet or exceed all deadlines
Produce effective and accurate reporting that requires only strategic input from Managing Director
Act as liaison between ownership and Property Management
Ensure Property Management is operating to the budget; responsible for the Property Managers' performance
In the instance that a property is transferred from one management company to another, the Asset Manager assists in the transition
Capability to resolve challenges with strategic input from Managing Director
Visit stabilized properties no less than quarterly and transitional properties no less than monthly
Assess the general physical condition of the building systems, housekeeping and grounds
Confirm effectiveness and efficiency of property site staff
Responsible for overall execution, including scope, design, budget and on-time completion of capital improvements in conjunction with the assigned Project Management staff
Gain a deep understanding of company goals
Coordinate with Sustainability team to analyze and continuously improve environmental performance
Ultimately responsible for the operating expenses of the property
Coordinate with Community of Opportunity team to encourage and support optimal social programming
Embrace and value the company mission
Understand that Asset Management requires after-hours monitoring and accessibility
In the event of crisis management, determine how to proceed in partnership with the property

- In real time, convey the issues to executive team and to investors as appropriate
- Confer with Managing Director on public relations
Monitor the leasing and marketing of each property
Provide guidance to Property Management on occupancy issues and advise on changes to rental rates and offered concessions
Review property marketing materials
Seek market data and assess comparable properties on a regular basis
Demonstrate a strong command of the company brand
Lead the refinancing and disposition of properties; responsible for the successful completion of each transaction
Draft sales/refinance analyses in conjunction with the Asset Management Analyst; responsible for making the recommendation to the investment committee
Take the lead on identifying lenders, brokers or other third-parties required in the transaction and take the lead on any related communication
Provide mentorship to other team members; lead and participate in organizational initiatives that result in widespread positive results