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:
• Develop business plan for each property and provide oversight on operations and capital expenditures to meet or exceed business plans
• Identify properties as candidates for refinancing or sale
• Negotiate vendor agreements for onsite capital work and recurring property services
• Analyze and monitor monthly financial performance of properties including comparisons to underwrite and budget
• Examine property cash flow and cash position to recommend the amount of quarterly investor distributions
• Oversee annual operating budget process and approval
• Identify trends and issues and make recommendations to increase income or capture cost savings
• Conduct quarterly site visits to meet with onsite staff, discuss operations, examine property condition, and review recent and upcoming capital work
• Draft quarterly reports to investors to detail distribution amounts and property operations
• Maintain a pipeline of properties in a specific region and provide weekly updates to management on potential acquisitions
• Establish and develop a network of relationships with brokers and owners to increase deal flow
• Present acquisition opportunities internally to HVG team members
• Submit letters of intent on opportunities
• Negotiate purchase and sale agreement
• Create investor offering memorandums to assist in the capital raising process
• Oversee due diligence process for new property acquisitions including unit walks, capital scope, asset business plan creation, and market research
• Work property closings including communication with seller, title company, and property management
Desired Skills, Experience, and Qualifications:
• 5+ years of multifamily experience across acquisitions, asset management, and dispositions
• Bachelor’s degree in Finance, Accounting, Economics, Real Estate, or other business-related fields
• Excellent analytical and quantitative skills
• Exceptional attention to detail
• Strong problem-solving skills
• Highly organized with the ability to prioritize multiple projects
• Self-starter comfortable working in an environment with evolving roles and responsibilities
• Strong communication skills with the ability to interact with various internal and external parties
• High proficiency in Microsoft Excel, PowerPoint, and Word
• Ability to travel overnight up to 2-3 times per month
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