Description
POSITION SUMMARY/OBJECTIVE
Asset Management serves to maximize the value of Essex’s portfolio by deploying capital to drive rent growth and internally increase the NOI of the existing portfolio. Asset management executes both revenue generating and non-revenue generating investments for purposes of both value preservation and value creation within the existing portfolio. The department opportunistically seeks investments and remains flexible in its ability to scale projects in response to changing and dynamic market conditions.
PRINCIPAL RESPONSIBILITIES
- Develop renovation plans with value-add focus including market analysis, preparing financial analysis and understanding of the improvement itself in terms of its useful life and estimated costs to maintain and replace.
- Lead the investment process in discovery, due diligence, analysis, underwriting, preparation and submission of investment materials for both internal and external constituents for various revenue generating projects.
- Lead the creation and maintenance of revenue generating budget for the assigned region and review variance to budget on a quarterly basis.
- Create value in the real estate portfolio in other ways including density opportunities, unit conversion, change use of space, and unit expansion projects.
- Identify and underwrite opportunities to increase income and/or reduce expenses.
- Assist in the creation of asset plans by performing asset-level valuation including gathering of market data, reviewing property performance, and measuring each asset against its budgets and goals.
QUALIFICATIONS
- Bachelor’s or Master’s in Real Estate or Business
- Minimum 5 years of experience in financial analysis or business analytics, real estate industry and multifamily sector experience required
- Excel modeling/proficiency required.
- Possesses thorough understanding of property management software systems utilized at the property level and ensure accurate database. Yardi experience is preferred
- Strong analytical, organizational, time-management, attention to detail and accuracy, written and verbal communication skills
- Self-motivated with strong interpersonal skills and effective collaborative working style
- Ability to travel.
Our associates are offered competitive salaries, experience career growth, and are eligible for benefit packages that include medical, dental, vision, 401k employer match, excellence rewards, wellness programs and much more. With our Sunday property operations office closures and over 15 PTO days, work/life balance is a priority! Additionally most positions are eligible for a housing discount of 20% or more if you live onsite.
Essex provides great communities in which to live, work and invest. We are a purpose-driven company, and we pride ourselves on promoting an internal culture of growth and opportunity by engaging, enabling and empowering our teams. Working at Essex is not a destination. It is a journey where you can confidently build your career.
Essex provides great communities in which to live, work and invest. We are a purpose-driven company, and we pride ourselves on promoting an internal culture of growth and opportunity by engaging, enabling and empowering our teams. Working at Essex is not a destination. It is a journey where you can confidently build your career.
This job is no longer active.