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San Diego, CA
A privately-owned, San Diego based multifamily real estate firm is looking for an Asset Manager to join their team. The Asset Manager will oversee a portfolio of apartment communities, ranging from stabilized assets to those under significant renovation. This position is accountable for the financial and operating performance of the assets, including delivering the best possible return on investment. They will report to the Managing Director, Asset Management and should have humility, a strong work ethic, creativity and a sense of ownership of their role and responsibilities.
Execute a hands-on asset management strategy to maximize revenue, expense and capital expenditure targets for each asset in the assigned portfolio. Provide critical and strategic thinking in making key decisions.
Oversee all aspects of renovation projects, working closely with design and construction
Establish a thorough business plan and strategy with the objective of maximizing property long term value
Budget and forecast income and expense projections, capital requirements, and risk-return analysis. Track and report on the performance of the asset, against both budget and various business plan milestones
Provide cash management, including understanding investor distributions
Provide clear and efficient guidance to 3rd party property management organizations
Visit assets regularly, tour competing projects and track local market dynamics
Become a market expert in numerous geographies, as well as actively represent the firm in the marketplace. Track trends in demographics, job growth, economic drivers, supply, as well as any other market forces.
Liaise with Investor Relations & Capital Markets department to satisfying investor and lender inquiries, market tours and notifications related to significant updates
Collaborate with the acquisitions teams on potential new acquisitions, including due diligence, underwriting, closing, budgeting and business plan creation
5 to 7 years of experience in asset management, ideally with a focus on multifamily
Critical and strategic thinking and an intuitive sense of the dynamics and risks of each transaction.
Ability to work both independently and as part of a team
Strong organizational skills and attention to detail
Ability to process work quickly accurately and with changing priorities
Excellent written and verbal communications skills
Outstanding computer skills, including strong MS Excel background
Strong character and a flexible style with a proven ability to work successfully with a range of internal individuals (from analysts to the CEO), as well as with external individuals (property managers, consultants and other third parties)