Multifamily Asset Manager

Prime Group LLC                                                              

Job Title: Asset Manager

Department: 10017 - Asset Management

Reports To: Director of Asset Management

FLSA Status: Exempt

Job Summary:

The Asset Manager is responsible for maximizing total return and long-term value across an assigned portfolio of multi-family residential and commercial assets. This role serves as the strategic and operational owner at the asset level, providing direction and oversight to the Director of Property Management, Regional Managers, and on-site Property Managers to ensure all property-level decisions align with the approved business plan and ownership objectives. The Asset Manager works cross-functionally across acquisitions, finance, leasing, and construction teams and is directly accountable for financial performance, reporting, and execution of investment strategy from acquisition through disposition across both asset classes.

Key Responsibilities:

Asset Performance & Oversight

• Maximize total return for each assigned asset through ongoing analysis of property efficiencies, revenue opportunities, and expense controls across the multi-family and commercial portfolio.
• Provide strategic direction and oversight to the Director of Property Management, Regional Managers, and Property Managers on all operational decisions, ensuring alignment with approved business plans and ownership goals.
• Review and approve property-level decisions escalated through property management, including leasing, vendor contracts, capital expenditures, and policy changes.
• Oversee commercial tenant relations, lease compliance, CAM reconciliations, and coordination of tenant improvement projects in partnership with property management.
• Work onsite as needed to assess operations, meet with management teams, and evaluate asset condition and market positioning.
• Ensure compliance with local and federal Fair Housing Standards across all managed assets.

Financial Management & Reporting

• Lead the preparation and approval process for annual property operating budgets, forecasts, and capital improvement plans modeling returns over a three-year horizon.
• Review monthly operating statements and variance reports across multi-family and commercial assets; provide written commentary and direct corrective action with property management teams.
• Produce monthly, quarterly, and annual portfolio performance reports for investors, consultants, and ownership partners.
• Conduct financial analysis, marketing studies, and industry-standard reporting including variance reporting, NOI tracking, and cash flow projections.
• Model full life cycle financial analysis for each asset from acquisition through disposition, including hold/sell analyses and return projections.

Acquisitions & Dispositions

• Provide pre-acquisition input and assist in the due diligence process, including review of financial and operational assumptions and supporting debt financing origination and negotiation.
• Assist in underwriting potential multi-family and commercial acquisitions; coordinate post-acquisition activities and integration of new assets into the firm’s ownership portfolio.
• Participate actively in the asset disposition process, including preparation of disposition materials, buyer coordination, and closing support.

Leasing, Marketing & Contracts

• Work closely with property managers, assistant property managers, and leasing agents to provide direction on residential leasing strategy, lease approvals, and marketing plans.
• For commercial assets, coordinate with leasing brokers on vacant space strategy, review lease proposals, and approve new leases and renewals in accordance with business plan parameters.
• Negotiate contracts with vendors, service providers, and third parties as required.
• Provide involvement in marketing sources and the development and execution of asset-level marketing plans across both residential and commercial properties.
• Performs other related duties and assignments as required.

Supervisory Responsibilities:

• Provide oversight and strategic direction to the Director of Property Management, Regional Managers, and Property Managers as it relates to asset-level objectives and performance.
• Review work product from property management teams including budgets, operating reports, leasing activity, and capital project updates.

Qualifications:

• Bachelor’s degree (B.A. / B.S.) in Real Estate, Finance, Business Administration, or related field required.
• 3–7 years of experience in real estate asset management, property management, or acquisitions; experience across both multi-family and commercial asset classes preferred.
• Familiarity with commercial lease structures, CAM reconciliations, and tenant improvement processes a plus.

Skills and Abilities:

• Proficiency in Excel-based financial modeling including budgeting, variance analysis, and multi-year DCF models; Argus experience a plus.
• Familiarity with property management software such as Yardi, MRI, or RealPage.
• Strong written and verbal communication skills; ability to produce clear reporting for investors and leadership.
• Ability to read and interpret leases, loan documents, and operating agreements across residential and commercial asset types.
• Highly organized with the ability to manage multiple assets and competing priorities simultaneously.

Work Environment:

• Office-based with hybrid flexibility; regular travel to portfolio properties required.
• Reasonable accommodations may be made for individuals with disabilities to perform the essential functions of this role.

Prime Group is an Equal Opportunity Employer.