Real Estate Asset Manager Job at Morrison Avenue Capital Partners, Safety Harbor, FL

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  • Morrison Avenue Capital Partners
  • Safety Harbor, FL

Job Description

Asset Manager

 

 

Our ideal team member will be responsible for Asset Managing Multifamily Assets:

  • Monitor a growing portfolio of multi-family properties located in the Southeastern United States
  • Oversee, report on and enhance property operations with a goal of: 
  • Accurately and systematically reporting clearly and concisely property performance against a variety of goals
  • Increasing performance against those goals, and,
  • Protecting and ensuring the long-term viability of assets
  • Analyze property assets, recommend and implement improvement strategies to maximize operational performance of the portfolio

Travel:  Approximately 35%. Must have a valid drivers’ license.

Essential Duties & Responsibilities:

  • Under the direction of the VP – Director of Asset Management, oversee the operations of the company’s investment properties
  • Create, solicit input, then distribute quarterly performance reports to investors 
  • Review and monitor monthly operational reports and evaluate property performance:
  • Summarize operations for review by principals
  • Highlight property performance vs. goals
  • For adverse issues
  • Investigate issues by interacting with the management company
  • Document explanation from management company
  • Solicit/create plan(s) for remediation, including cost and schedule, and build a consensus plan with the management company and MACP
  • Document and report on progress towards goal
  • Highlight/expose patterns around adverse issues

· Maintain database of critical information for each deal (loan terms, ownership structure, required repairs, reserve balances, capital flow etc.) and track key items and dates

· Create and maintain investor return scenarios per asset in relation to distributions, refinancing, sale

· Create, implement, and maintain a communication policy for investors and partners involving direct interaction and social media 

  • Oversee our compliance with lender and insurance operational and deferred maintenance requirements

· Assist in deal closings including soliciting 3 rd party reports, receiving and organizing reports and data, and related tasks

· Assist with organizing and backfilling information on older transactions

· For new construction or acquisitions with value-add improvements:

o Maintain schedule and cost budget

o Provide weekly updates on progress

o Highlight delays or concerns

  • Research and understand driving forces in individual property markets, recognizing when trends might be working with or against our investments
  • Provides support and analysis to our management partners with the goal of increasing profitability and reducing risk 
  • Identify partnerships that require Watchlist status and develop strategies to address all issues

· Travel periodically, but no less frequently than quarterly, to each property for general observation of condition, meeting with property management staff, reinforcing performance goals

  • Assist in maintaining and updating company’s profile on social media
  • Performs other duties and responsibilities as assigned

Qualifications

Knowledge and Skills:

Knowledge of:

  • Institutional asset management
  • Advanced concepts, principles and practices of multi-family real estate/housing operations, including property inspections, property management and property maintenance
  • Knowledge of real estate finance.
  • Knowledge of institutional investment strategies and partnership structures
  • Accounting principles.

Skill in:

  • Strong analytical skills & financial acumen 
  • Use of MS Office products
  • Document Management technology 
  • Communication, both orally and written
  • Follow-up to ensure resolution and completion of tasks
  • Operating standard office equipment and using required software applications to produce correspondence, reports, electronic communication and spreadsheets

Educational/Previous Experience Requirements:

Bachelor’s Degree (B.A.) in related field and a minimum of five (5) years of multi-family asset management experience

~or~

Any equivalent combination of experience, education, and/or training.

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