About the Company: Pacific Urban Investors (‘PUI’) is an industry leading multifamily investment firm and pension fund manager. PUI is focused exclusively on the multifamily rental space and has successfully deployed well-timed strategies to the benefit of its institutional partners and stakeholders.
Since its inception in 1998, Pacific has completed over $13 billion in apartment transactions on behalf of its own account and those of its valued strategic institutional partners. Today, PUI has eight offices, with over sixty-five professionals and an owned apartment portfolio, in excess of $7.5 billion dollars.
Committed to the communities in which we operate and to sustainability, Pacific utilizes its branded Ecologic program of initiatives to bring environmentally aware features into the communities and to each resident’s apartment home. Pacific placed #1 in the nation in each of the last two years in the GRESB Environmental, Social and Governance competition, demonstrating the firm’s focus and achievement in these areas.
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Job Description: Pacific Urban Investors, a leading private real estate investment firm, seeks an Asset Manager who will oversee and direct operational, leasing and acquisition aspects of a Portland Metro area portfolio of nine current apartment communities. The employee will report to the Area Manager of Asset Management. The firm does not have a Portland-based satellite office, so the job will be a combination of remote work from home and working from the various asset sites. The firm also has two assets in the Denver metro market, and it would be anticipated that after 6 months or so of getting up to speed on the Portland portfolio, the Denver assets would be under your control as well.
The Asset Manager will be responsible for “running the business” of a portfolio of multifamily apartments, including formulating and executing short-term and long-term asset management strategies, running property operations, and working with the Investment team to facilitate growth of the portfolio.
The Asset Manager will be a confident, dynamic, and sophisticated investment professional with a thorough understanding of institutional real estate, significant multifamily experience, and a demonstrated track record of value creation.
Primary Duties & Responsibilities:
- Provide strategic direction for a diverse multifamily portfolio
- Develop, present, and execute comprehensive annual business plans for each asset
- Work in partnership with Pacific’s acquisition team on underwriting and due diligence efforts for new multifamily investment opportunities to add to your portfolio
- Manage takeover of new assets and ensure a smooth and successful transition into the portfolio
- Become the local expert in each market where you manage properties, with a focus on knowing competitive apartment communities, the development pipeline, and other economic drivers that could impact asset performance
- Manage our third-party property management firms, including working with property leasing staff, regional managers, and marketing personnel
- Manage consultants, internal construction resources, and outside contractors to renovate and improve individual assets
- Visit all properties within the portfolio to oversee the operations and on-site staff. This will entail regular travel to the portfolio properties in the Portland area and potential occasional travel to the Denver market; expenses for out of Portland area travel will be reimbursable to employee.
- Provide direction to third-party property managers regarding the development of and successful execution on operating budgets, capital investment plans, leasing/marketing plans, cost control strategies, risk management strategies, and other significant operational items with the goal of increasing/maximizing value
- Review financial reporting and variance analyses and coordinate with accounting personnel to ensure that financial statements are accurately presented
- Perform property inspections to monitor performance and compliance with approved business plans and policies, as well as identify opportunities for improvement and value creation and any issues that may require additional action
- Assist with asset-level valuation reviews as needed, including: the gathering of market data, reviewing property performance and measuring each asset against its budgets and goals
- Develop positive working relationships both internally and externally (co-workers, clients, third-party property managers, consultants, and other service providers); be an active participant in local industry organizations
Highly self-motivated, confident and driven
Ability to work effectively in a fast moving yet collegial environment
Strong intellect and strategic thinker with solid quantitative, financial, and analytical skills
Exceptional interpersonal skills including the ability to develop strong relationships with clients, finance partners and colleagues
- Proficiency with spreadsheets and other financial and presentation software, such as Microsoft Excel and Word is required. Experience with Yardi accounting system, and YieldStar pricing software is a plus.
- Executive presence enabling effective interaction with existing clients, colleagues and prospective clients
- Impeccable integrity, trustworthiness, and reputation within the real estate industry
Education and Experience:
- Bachelor’s Degree or equivalent professional experience
- 5 - 10 years of multifamily real estate experience
- Strong skills and demonstrated experience in multifamily asset management and/or operations
- Thorough understanding of financial statements and reporting
- Solid knowledge of property valuation techniques and practices
- Experience with construction activities on managed assets preferred
- Detailed understanding of the due diligence process; experience in real estate acquisitions is a plus
- Strong interpersonal skills with a demonstrated ability to work with internal and external business partners, consultants, and clients
- Ability to effectively and professionally communicate complex issues both verbally and in writing to senior management and clients
- The compensation plan for this individual will be commensurate with the skills required of the position, and will be comprised of a base salary, and an annual incentive cash bonus based upon individual and portfolio performance. Employee will also be eligible to participate in the firm’s benefits program which includes health insurance options, a 401k plan, and other benefits.
- PUI would like to thank you for applying; for efficiency in evaluating candidates, please provide information to the contact noted herein and do not contact staff members, directly.
- Due to the volume of responses received, only qualified candidates will receive a response.
- PUI is currently following a hybrid model until further notice.