Philadelphia, PA
Salary Estimate: Confidential
Employment Type: Full Time
Work Place: Office
Experience Required: 7+ to 10 years
Education Required: 4 Year College
Job Description
Our client is seeking a senior level professional with extensive knowledge and experience in residential real estate asset management, preferably with experience in 55+ Active Adult and/or Independent Living. This position will report to the Managing Director of Asset Management and works very closely with the CFO, CEO, and property operations to actively optimize asset performance and increase the value of the portfolio. The candidate will help support financial and operational decisions regarding revenue and expense control and add value to business strategies and activities in order to maximize property performance. We need someone who is self-motivating, can help achieve results through effective communication, advanced understanding of the business unit and its objectives, identification of relevant financial considerations and their potential impacts.
Responsibilities Include:
- Work closely with Property Management to ensure that each asset meets acquisition proforma objectives, key business plan elements, capital improvement deadlines, and overall investor goals.
- Actively monitor and troubleshoot issues relating to leasing, occupancy and turnover, opportunities to improve rents and implementing other income initiatives, and controlling expenses.
- Monitor, review, and evaluate financial operating results and work with Property Management to implement changes as needed to enhance asset value, cash flow, and profitability.
- Manage capital improvement and other reserve balances. Ensure that quarterly and annual cash distribution targets to investors are met.
- Participate in annual budget process including rent and renewal increases, operating expense, tax and insurance projections
- Conduct site visits on a regular basis and meet with Property Management and third-party agents to review and assess operations, leasing, capital improvement programs, and property physical condition.
- Participate in marketing and leasing calls with brokers; analyze lease transactions, including calculation of net effective rents and impact on value.
- Assist in production of quarterly and ad-hoc investor communications for all assets in the portfolio.
- Assess investment performance against pro forma/budgets.
- Analyze and determine ROI of new technologies that enhance operational efficiency and/or resident experience.
- Ability to effectively communicate strategic goals and long-term objectives in writing and verbally to other internal parties.
- Assist with dispositions and financings, including compilation and dissemination of due diligence information as needed.
- Develop deep knowledge of markets in which assets are located; in particular as it relates to competitive properties.
Candidate Requirements:
- Bachelor’s Degree preferably in Real Estate, Business, or Finance required. MBA preferred
- 8-10 years of professional work experience in directly managing residential real estate assets
- Experience in an agile and dynamic project focused environment with attention to detail
- Thorough experience in developing visualizations and related reporting for varied audiences, using a variety of tools and technologies (ex. Yardi, Real Page, etc.)
- Experience with MS Office required and advanced understanding and proficiency with Excel
- Advanced understanding of age-restricted residential real estate principals and concepts
- Strong communication, collaboration and relationship building skills
- Ability to quickly identify risks to portfolio assets and provide remedial solutions
- Experience in dealing with sensitive, confidential materials and respect for same, with ability to maintain confidentiality of sensitive organization topics and issues
- Work will extend beyond regular schedule at times. Must be flexible to support deliverables of the group
Competitive compensation package, commensurate with the candidate’s experience. The package includes excellent healthcare, retirement, and other benefits. Because of the collaborative nature of this position, it requires being in-office five days a week.
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Champaign, IL
Post Date: 10/25/2024
Expires: 12/09/2024
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