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Asset Manager - Market Rate Multifamily
$95k-149k (estimate)
Full Time
3 Days Ago
The Widewaters Group is Hiring an Asset Manager - Market Rate Multifamily Near Charlotte, NC
Job Description
Job Description
Benefits:
Asset Manager will also collaborate as necessary, with Widewaters representatives on regional investment activities, including due diligence efforts, investment market assessments and property underwriting assumptions, and Development and acquisition growth. He/she will be a member of the asset management team and will have a significant responsibility for, and impact on, the portfolio's financial performance.
Development/Oversight of Property Budgets and Financial Performance
Oversight of Property Management/Regulatory Agreements
Support Development/Acquisition Activities
General
- 401(k)
- 401(k) matching
- Competitive salary
- Dental insurance
- Employee discounts
- Health insurance
- Opportunity for advancement
- Paid time off
- Training & development
- Vision insurance
- Wellness resources
Asset Manager will also collaborate as necessary, with Widewaters representatives on regional investment activities, including due diligence efforts, investment market assessments and property underwriting assumptions, and Development and acquisition growth. He/she will be a member of the asset management team and will have a significant responsibility for, and impact on, the portfolio's financial performance.
Development/Oversight of Property Budgets and Financial Performance
- Coordinate with 3rd party property management team(s) to develop business plans by taking an active role in creation of annual operating and capital budgets.
- Establish oneself as the subject matter expert on property and market knowledge enabling the creation of targeted investment strategies to achieve strategic objectives.
- Provide oversight to ensure the implementation of the property business plan, create monitoring metrics, and communicate plan status.
- Analyze property financials and performance metrics highlighting risk and opportunities with recommendations to enable property value maximization.
- Assist with acquisitions, investor relations and special projects, as needed
- Assist in the development/monitoring of strategies to maximize asset portfolio value.
Oversight of Property Management/Regulatory Agreements
- Leverage monthly and quarterly financial statements, business intelligence software, and analytical tools to identify property and portfolio underperformance to budget and/or market benchmarks and collaborate with relevant team members and make improvement recommendations.to make necessary improvements. MUST HAVE VERY STRONG MS Excell skills and experience in using multifamily specific accounting/reporting systems such as Yardi, LRO, etc.
- Monitor and manage key performance indicators (KPIs) on each asset and collaborate with property management and creating action plans to address concerns, issues, and opportunities.
- Assist in developing Company process and procedures relating to the oversight 3rd party property management partners.
- Oversee 3rd party property management firms to ensure optimal property performance through best in class process and controls.
- Develop and implement a process for property inspections to insure continuous monitoring of property performance, execution of actions, consistency of quality and property capital plans.
- Provide recommendations and implement changes for property improvements based on thorough market analysis and competitive positioning.
- Incorporate a value-oriented approach to each asset by analyzing revenue opportunities and providing direction supported by financial models to justify major capital investments and financial decisions.
- In collaboration with leadership team, assess the capital needs/expenditures by property and develop a long-term capex plan for the portfolio that corresponds to stated strategy.
- Implement and monitor capital improvement projects.
Support Development/Acquisition Activities
- Financial and feasibility analysis, assisting in all phases of investment management. This will include feasibility studies and other research for potential investments, investment underwriting, due diligence, managing documentation, site visits and investment closings.
- Market, economic and demographic research to assist in evaluating markets for existing or potential investments.
- Assist in conducting due diligence and financial modeling for new acquisitions and dispositions.
- Identify and oversee repositioning opportunities. Monitor market trends for opportunities to add value through renovation, expansion or repositioning of the assets and make recommendations accordingly. Supervise scope development including: recommendations on rent premiums, cashflow maximization, and ongoing implementation to ensure achievement of ROI target.
- Financial modeling and analysis related to the monitoring of assets and preparing sell versus hold analyses.
General
- Ability to understand and interpret market trends, third party market reports, and operator market competitor surveys.
- Ability to define, develop, and execute asset management strategy, by leveraging and managing 3rd party property management teams.
- Familiarity with investment due diligence process along with the ability to provide local market asset performance assumptions and competitive intelligence.
- Ability to think and act strategically along with a track record demonstrating sound business judgment when delivering an assets peak market value.
- Strong negotiation, analytical and interpersonal skills are essential.
- Ability to effectively multi-task, while maintaining accuracy and quality of work product.
- Strong self-starter that thrives in a fast paced, dynamic environment with multiple and evolving priorities and deadlines.
- Ability to effectively problem solve and work both collaboratively and independently as warranted.
- Professional ability to communicate, facilitate presentations with owners, investors, bankers, government agencies, etc.
- Must demonstrate the highest level of professionalism, confidentiality, integrity, and respect with internal and external business partners.
- Build a strong, credible relationship with senior leaders, owners, managers third party professionals and other critical stakeholders; operate as trusted and subject matter expert.
- Ability to present data in a clear, concise, and professional manner to the level of understanding of the targeted audience.
- Asset management of existing portfolios of properties under construction, in lease-up or stabilized. This will include preparation and update of quarterly asset reports, preparation of property valuations, market research and analysis, and site visits.
- Conduct frequent physical inspections of each property in assigned portfolio to develop a thorough understanding of each property and its challenges, assess implementation of strategic initiatives, assess operational and management performance, and identify opportunities for improvement and communicate those opportunities among relevant internal and external teams.
- Become an expert on assigned markets through on-site visits, in-depth analysis of industry trends and economic drivers, and maintenance of industry network then collaborate with executives to implement adjustments to property strategy to account for market shifts.
- Participate in evaluating, and make recommendations for the implementation, of various new products and services intended to grow ancillary income, reduce operating expenses, or create operational efficiencies.
- Perform financial analysis and ensure budget to actual variances are favorable and/or identify solutions to correct deviations to plan.
- Forge strong relationships with vendors, site staff and leadership to work through challenges and communicate concerns internally/externally when expectations are not met.
- Travel required with short notice.
- Bachelors degree, preferably in Economics, Business, Finance or Real Estate.
- MUST have excellent Excel skills
- Three to five years of Asset Management experience, SPECIFICALLY with market rate multifamily properties over 200 units each.
- Familiarity with general principles of real estate, including operations and analysis, budgeting and financial reporting.
Job Summary
JOB TYPE
Full Time
SALARY
$95k-149k (estimate)
POST DATE
06/13/2024
EXPIRATION DATE
06/28/2024
WEBSITE
widewaters.com
HEADQUARTERS
EAST SYRACUSE, NY
SIZE
100 - 200
FOUNDED
1982
CEO
JOSEPH T SCUDERI
REVENUE
$10M - $50M
INDUSTRY
Accommodations
Related Companies
About The Widewaters Group
The Widewaters Group is a diverse real estate development and management company that has extensive experience in the development of Retail, Hospitality and Office projects throughout the United States. For more than 30 years, Widewaters has built a reputation on a firm foundation of experience and financial strength. Leveraging our entrepreneurial instincts, capital and expertise, Widewaters will continue to develop and acquire commercial real estate in growing markets that demonstrate strong economic fundamentals with the potential to achieve superior financial returns. Because the world is ...
a dynamic and ever changing place, Widewaters will continually review, revise and refocus to fulfill our mission.
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