The Asset Manager is responsible for performing asset management functions for a specific region. This position’s primary responsibility is to act as the Owner’s Representative and execute property strategy, with the goal of maximizing the performance and value of the assets located in a specific region. Asset Management becomes increasingly involved during the lifecycle of a development or acquisition and is directly involved in supporting the investments, working closely with MCR’s Development, Acquisitions, Finance, Operations and Accounting groups.
Essential Functions/Responsibilities
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Asset Strategy:
- Coordinate with Development, Acquisitions, and Finance to formulate the overall asset strategy. For Fund 1 and Acquisition deals, asset strategy will have a longer view.
- Act as Owner’s Representative and set goals and strategy for Property Management (in-house and 3rd party managed).
- Work with Property Management to maximize property value and execute strategy.
- Track community performance against pro-forma assumptions.
Operations and Property Reporting:
- Oversee annual budget process, review annual budgets/business plans and review monthly operating reports/forecasts.
- Closely monitor and track financial and operating performance including occupancy, income, collections, expenses, and NOI in order to maximize overall performance.
- Monitor cash management: cash balances, cash projections and ensure timely distributions to the JV.
- Track and assess proposed major capital improvements and renovation programs.
- Conducts site investigations.
National and Portfolio Reporting:
- Gather and provide property data for national reporting.
- Develop portfolio operating performance reports and benchmark performance.
Finance:
- Facilitate and monitor investor relations and ensure that financial reporting is in compliance with investor requirements.
- Track and communicate lender requirements and tests.
- Work with the Finance group to obtain permanent financing on longer term hold assets.
Dispositions:
- Provide key support to Development on asset dispositions and coordinate with Operations, Finance, JV Partner, Accounting and Construction as needed.
Market Information:
- Track regional market and submarket data – rent growth, occupancy, permitting and sales transactions.
- Understand current and future trends in demographics, job growth, economic drivers, product supply and other market forces.
- Gather lessons learned and share best practices to establish consistencies and efficiencies within the company.
Other:
- Participates in Company-provided training such as fair housing, safety, non-discrimination, and harassment prevention.
- Complies with all Company National Standards, applicable health and safety rules and regulations, as well as applicable local, state, and federal laws.
Education and/or Experience
- Bachelor’s degree or equivalent is required for this position and a graduate degree is preferred.
- Minimum 5 years’ experience in management, finance/investment and the multi-family real estate industry is required, with a proven track record of strong leadership ability.
Skills/Specialized Knowledge
- Ability to read, write, understand, and communicate in English.
- Ability to use personal computing devices and has advanced knowledge of email, Microsoft Word and Excel.
- Excellent interpersonal skills; ability to relate to others.
- Professional verbal and written communication skills.
- Strong organizational and time-management skills.
- Ability to perform advanced mathematical and accounting functions.
- Ability to read and comprehend financial statements, such as profit and loss statements, general ledgers, and budgets.
- Must be a strategic visionary with sound technical skills, analytical ability, good judgment, and strong operational focus.
- Must be proactive, self-directed, and highly motivated.
- Must have strong leadership ability.
- Ability to successfully delegate.
- Ability to multi-task.
- Ability to make quick and effective decisions.
- Ability to analyze and resolve problems.
- Ability to cope with and defuse situations involving angry or difficult people.
- Ability to negotiate, influence, and gain consensus.
- Ability to manage a team.
- Ability to train.
- Ability to set and meet goals.
- Ability to consistently meet deadlines.
- Ability to maintain flexibility and creativity in a variety of situations.
- Ability to maintain confidentiality.
- Ability to respond effectively to sensitive inquires or complaints.
- Ability to conduct presentations or speak in public to large groups of people.
- Ability to drive an automobile.
- Ability to travel on all forms of commercial transportation.
About the Benefits of joining the Mill Creek Team
- Competitive compensation
- Comprehensive medical, dental and vision
- Employer sponsored short and long term disability, Life and ADD insurance
- 401k with employer matching
- Paid time off benefits: Vacation, Sick, Holidays
JobFamily
Asset Management
JobFunction
Overhead
PayType
Salary