What are the responsibilities and job description for the Associate, Asset Management (Multifamily) position at Foulger Pratt?
Company Description
Foulger Pratt, founded in 1963, is a real estate investment and development firm specializing in mixed-use and transit-oriented projects in the DMV metro area, North Carolina, Texas, Utah and California. The multifamily asset management team currently oversees over 8,000 units in these regions. With over 13.7 million square feet of commercial office, retail, and multifamily residential projects developed, the company leverages its deep understanding of the region’s real estate market. Foulger Pratt’s integrated teams excel in adding value across all stages of an investment’s lifecycle. Privately owned and supported by industry-leading professionals, the company operates with core values emphasizing integrity, accountability, and vision, contributing to its strong reputation.
Role Description
This is a full-time Associate position in Asset Management with a focus on Multifamily properties. The role involves analyzing property performance, creating and maintaining financial models, supporting property management teams, and assisting in the implementation of business and operational strategies for the asset portfolio. The role is hybrid, based in Potomac, MD, with some flexibility for working from home. Collaboration with internal teams, stakeholders, and external partners will also be an integral part of this position.
Core Responsibilities
Asset Performance & Financial Oversight
- Main point of contact and responsible party for at least 5 to 8 assets
- Conduct property site inspections and market tours
- Monitor asset‑level financial and operating performance relative to annual budgets, forecasts, and business plans
- Review monthly financial statements, rent rolls, leasing reports, and variance analyses
- Track key performance indicators including occupancy, rent growth, concessions, bad debt, operating expenses, and NOI
- Assist with annual budget preparation, reforecasts, and long‑range financial projections
Business Plan & Value‑Add Execution
- Support implementation and tracking of asset‑level business plans, including revenue growth and expense optimization initiatives
- Study and recommend ancillary income ideas such as new parking management, solar or managed wifi
- Monitor performance of value‑add strategies such as unit renovations, amenity upgrades, and operational enhancements
- Partner with property management to evaluate pricing strategies, concessions, and leasing velocity
- Identify performance risks, variances, and opportunities; escalate findings to senior asset management
Capital Expenditures & Projects
- Review and analyze recommended deferred maintenance capex to ensure alignment with business plan and cash flow
- Study and recommend capital improvements that could generate additional yield
- Assist with oversight of renovation and capital projects in coordination with construction and property management teams
Lender & Investor Reporting
- Assist with preparation of monthly, quarterly, and annual lender and investor reporting packages
- Support refinancing, loan compliance, and covenant monitoring efforts
- Maintain asset‑level models, assumptions, and reporting templates
Property Management & Cross‑Functional Collaboration
- Serve as a liaison between ownership and third‑party property management teams
- Participate in regular asset review meetings and property calls
- Coordinate with accounting, legal, risk, and construction teams on asset‑level matters
- Support dispositions, refinancings, or recapitalizations from an asset‑level perspective when needed
Foulger-Pratt’s dedication to standards and their Core Values have earned them great respect in the industries of property management, construction, and development. Employees are offered an extensive benefits package, an exciting wellness program and potential for growth within the company. Amongst the benefit offerings are:
- Three medical plans with HSA options
- Two dental plans
- Company paid Life and Disability.
- 401(k)/Roth with Company Match
- Flexible Spending Accounts
Requirements:
- Bachelor’s degree in Finance, Real Estate, Business, Economics, or a related field
- 2–5 years of experience in real estate investment, private equity, asset management, development, or a related analytical role
- Strong financial modeling and analytical skills; experience modeling multifamily cash flows preferred Advanced Excel skills; proficiency with PowerPoint and Word
- High attention to detail and ability to manage multiple workstreams simultaneously
- Strong written and verbal communication skills
- Ability to work in a fast-paced deadline driven environment
Position Start:
Immediate