Asset Manager

Job Description

Ashcroft Capital

Asset Manager Position

Company Overview

Ashcroft Capital is a multifamily investment firm focusing on the value-add space in stabilized assets. The firm has acquired 20 communities totaling just under 5,500 units since formation in 2015. All portfolio assets are currently in the state of Texas, however, the firm will be expanding into several other high growth markets in 2019. Ashcroft capitalizes its investments from a network of high net worth individuals. For more information on the firm, please visit our website.

Job Description

Ashcroft Capital is looking for an excellent asset manager to oversee and improve the operations of our growing portfolio. Because this is a senior level position, the ideal candidate will not be learning on the job and will be very experienced handling multifamily assets in several U.S. metros. The ideal candidate will be able to improve efficiencies by implementing their own best practices and principles into the company’s portfolio in order to maximize revenue. 

Job Responsibility

• Annual budget review and approval with ongoing oversight
• Monitor capital improvement projects to ensure timely completion within budgets
• Analysis of weekly trends, monthly trends, comparison vs. budget, comparison vs. market.
• Monitor financial performance of investments versus budgets and projections working with third-party management team to highlight and address any performance concerns
• Assist acquisitions with formulating property business plans and transitioning new properties to our ownership
• Work with lenders regarding loan requirements, escrows, inspections and refinances
• Work actively with senior management on investor relations activities of the company, including preparation of periodic reporting, oversight of partnership distributions and responding to analytic requests
• Monthly reporting to ownership on asset performance compared to pro forma
• Market knowledge via brokers, third parties and competition analysis
• Tracking returns and cash management
• Hold/sell/refinance analysis
• Monthly duties include: Oversight of cash flows, capital planning and other operating expenses; Oversight of the preparation and analysis of property financial statements; and development of standard reports
• Identify opportunities for value enhancement, improving cash flow and reducing expenses within the portfolio through the review of market data and benchmarking analysis.

Job Requirements

• Minimum of 3-5 years asset management experience in multifamily assets
• Highly proficient Excel skills
• 15 to 25% travel
• Accounting background is a plus
• Ability to work independently with strong organizational, time management, and prioritizing skills
• Strong analytical skills with high attention to detail and accuracy
• Must be able to multi-task
• Ability to work under tight time frames
• Local NYC hire 

Compensation

• Competitive compensation commensurate with experience
• Paid health and dental