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Real Estate Asset Manager

Real Estate Asset Manager

Morrison Avenue Capital PartnersSafety Harbor, FL, US
3 days ago
Job type
  • Full-time
Job description

Job Description

Asset Manager

Our ideal team member will be responsible for Asset Managing Multifamily Assets :

  • Monitor a growing portfolio of multi-family properties located in the Southeastern United States
  • Oversee, report on and enhance property operations with a goal of :
  • Accurately and systematically reporting clearly and concisely property performance against a variety of goals
  • Increasing performance against those goals, and,
  • Protecting and ensuring the long-term viability of assets
  • Analyze property assets, recommend and implement improvement strategies to maximize operational performance of the portfolio

Travel :   Approximately 35%. Must have a valid drivers’ license.

Essential Duties & Responsibilities :

  • Under the direction of the VP – Director of Asset Management, oversee the operations of the company’s investment properties
  • Create, solicit input, then distribute quarterly performance reports to investors
  • Review and monitor monthly operational reports and evaluate property performance :
  • Summarize operations for review by principals
  • Highlight property performance vs. goals
  • For adverse issues
  • Investigate issues by interacting with the management company
  • Document explanation from management company
  • Solicit / create plan(s) for remediation, including cost and schedule, and build a consensus plan with the management company and MACP
  • Document and report on progress towards goal
  • Highlight / expose patterns around adverse issues
  • Maintain database of critical information for each deal (loan terms, ownership structure, required repairs, reserve balances, capital flow etc.) and track key items and dates
  • Create and maintain investor return scenarios per asset in relation to distributions, refinancing, sale
  • Create, implement, and maintain a communication policy for investors and partners involving direct interaction and social media
  • Oversee our compliance with lender and insurance operational and deferred maintenance requirements
  • Assist in deal closings including soliciting 3rd party reports, receiving and organizing reports and data, and related tasks
  • Assist with organizing and backfilling information on older transactions
  • For new construction or acquisitions with value-add improvements :
  • o   Maintain schedule and cost budget

    o   Provide weekly updates on progress

    o   Highlight delays or concerns

  • Research and understand driving forces in individual property markets, recognizing when trends might be working with or against our investments
  • Provides support and analysis to our management partners with the goal of increasing profitability and reducing risk
  • Identify partnerships that require Watchlist status and develop strategies to address all issues
  • Travel periodically, but no less frequently than quarterly, to each property for general observation of condition, meeting with property management staff, reinforcing performance goals
  • Assist in maintaining and updating company’s profile on social media
  • Performs other duties and responsibilities as assigned
  • Qualifications

    Knowledge and Skills :

    Knowledge of :

  • Institutional asset management
  • Advanced concepts, principles and practices of multi-family real estate / housing operations, including property inspections, property management and property maintenance
  • Knowledge of real estate finance.
  • Knowledge of institutional investment strategies and partnership structures
  • Accounting principles.
  • Skill in :

  • Strong analytical skills & financial acumen
  • Use of MS Office products
  • Document Management technology
  • Communication, both orally and written
  • Follow-up to ensure resolution and completion of tasks
  • Operating standard office equipment and using required software applications to produce correspondence, reports, electronic communication and spreadsheets
  • Educational / Previous Experience Requirements :

    Bachelor’s Degree (B.A.) in related field and a minimum of five (5) years of multi-family asset management experience

    ~or~

    Any equivalent combination of experience, education, and / or training.

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    Real Estate Manager • Safety Harbor, FL, US

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