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Sr. Manager / Manager, Asset Management

Salary
Competitive
Employment
Full Time
Real Estate Field
Location
Bedminster
 NJ
Postal Code
07921
Country
United States

This job is no longer active.

Description


A leading, privately held real estate development, investment and management company that has acquired or developed more than 15 million square feet of commercial, residential, mixed-use and industrial projects is currently seeking an Asset Manager or VP who will report directly to the Managing Director of Asset Management and provide support in the asset management, underwriting, and closing of Advance’s investments.

The ideal candidate is a diligent worker and team player, who has experience concentrated in multifamily assets, preferably in the New York City-Metro area.  Experience with JV partnerships, debt & equity structures, waterfall calculation s and models, operations software and team leadership skills required.  In addition, the candidate has advanced proficiency in Excel and Argus, solid analytical and problem-solving skills, ability to work independently and excellent written and oral communication skills. The position has an immediate start and compensation will be commensurate with experience.

Responsibilities

  • Interface with property managers, development partners, consultants and investors to ensure timely delivery of property reporting, including financial statements, business plans, budgets and other reports.
  • Deep knowledge of local multifamily market conditions including rental rates, concession offerings, competitive asset sets, and tenant demographics
  • Develop and implement, through the management of property management and leasing terms and in accordance with annual budgets, property level strategies for leasing, operations and capital expenditures
  • Manage budget preparation through coordination with leasing brokers, property management, development and accounting teams to maximize recurring net income.  Prepare annual business plans incorporating budget, leasing, capital, and valuation assumptions, including relevant market summary
  • Support leasing and management teams to maximize property performance (income/value); Consistently evaluate leasing opportunities and support the negotiation of leases, legal documents and contracts.  Coordinate and manage various internal/external resources and consultants (i.e., attorneys, environmental, tax appeals, etc.)
  • Hold 3rd party management agents accountable for business plan deliverables
  • Oversee tenant relations/retention through engagement in lease compliance, reviewing expense audits, tenant collection matters, defaults, and coordinating tenant estoppel and SNDA processes for acquisitions, dispositions, and financings
  • Assist capital markets team with the coordination of due diligence activities to facilitate acquisitions and disposition and to orderly integrate newly purchased assets.  Explore opportunities associated with the value add and strategic dispositions in the market to support portfolio objectives
  • Review all relevant closing documents including partnership agreements, loan agreements and management agreements and abstract deal documents when necessary.
  • Participate in recapitalization, refinancing or disposition of assets under management
  • Regularly update or meet with internal and external partners and lenders about the performance of their assets.  Assist in the review and analysis of various joint-venture, loan documents, and third-party property management agreement
  • Maintain and update financial models and Argus for material changes in connection with reporting requirements, updated underwriting and valuations, and maintaining cash flow projections
  • Perform other duties as required

Qualifications, Experience and Education:

Minimum of 4+ years’ experience in commercial real estate, preferably with multifamily assets

  • Bachelor’s Degree and / or advanced degree in real estate or closely related with at least 4 years of direct asset management experience
  • At least 3 years of multifamily asset management experience
  • Strong work ethic and financial acumen
  • Fanatic attention to detail and quality of work
  • Pragmatic problem solver with a common-sense approach
  • Team player with entrepreneurial spirit
  • Strong proficiency in Microsoft Excel and Argus (modeling test completed during interview process)

This job is no longer active.

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