Asset Manager

Job Description

Job Summary :

The Asset Manager will oversee a portfolio of multifamily properties in the Midwest region and hold responsibility for the execution of property specific asset business plans. The Manager will also be responsible for acquisition activity in a geographic region which includes sourcing and closing deals. This position will report to the Senior asset manager for the Midwest.

Key Responsibilities :

• \tDevelop business plan for each property and provide oversight on operations and capital expenditures to meet or exceed business plans
• \tIdentify properties as candidates for refinancing or sale
• \tNegotiate vendor agreements for onsite capital work and recurring property services
• \tAnalyze and monitor monthly financial performance of properties including comparisons to underwrite and budget
• \tExamine property cash flow and cash position to recommend the amount of quarterly investor distributions
• \tOversee annual operating budget process and approval
• \tIdentify trends and issues and make recommendations to increase income or capture cost savings
• \tConduct quarterly site visits to meet with onsite staff, discuss operations, examine property condition, and review recent and upcoming capital work
• \tDraft quarterly reports to investors to detail distribution amounts and property operations
• \tMaintain a pipeline of properties in a specific region and provide weekly updates to management on potential acquisitions
• \tEstablish and develop a network of relationships with brokers and owners to increase deal flow
• \tPresent acquisition opportunities internally to HVG team members
• \tSubmit letters of intent on opportunities
• \tNegotiate purchase and sale agreement
• \tCreate investor offering memorandums to assist in the capital raising process
• \tOversee due diligence process for new property acquisitions including unit walks, capital scope, asset business plan creation, and market research
• \tWork property closings including communication with seller, title company, and property management

Desired Skills, Experience, and Qualifications :