Asset Manager, Essex Property Trust

Job Description

Essex Property Trust, Inc. (www.Essex.com), an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multi-family apartment communities located in supply-constrained markets concentrated in select coastal submarkets along the West Coast. Essex currently has ownership interests in 240+ apartment communities and 60,000 multi-family units. Essex reward motivated, professional, brilliant and energetic employees who are all successful and creating a culture of openness and accountability with career growth opportunities. Essex has produced the highest total return of any REIT since its 1994 IPO and financial success is a hallmark of the company

POSITION SUMMARY/OBJECTIVE
Asset Management serves to maximize the value of Essex’s portfolio by deploying capital to drive rent growth and internally increase the NOI of the existing portfolio. Asset management executes both revenue generating and non-revenue generating investments for purposes of both value preservation and value creation within the existing portfolio. The department opportunistically seeks investments and remains flexible in its ability to scale projects in response to changing and dynamic market conditions.

PRINCIPAL RESPONSIBILITIES
Develop renovation plans with value-add focus including market analysis, preparing financial analysis and understanding of the improvement itself in terms of its useful life and estimated costs to maintain and replace.
Lead the investment process in discovery, due diligence, analysis, underwriting, preparation and submission of investment materials for both internal and external constituents for various revenue generating projects.
Lead the creation and maintenance of revenue generating budget for the assigned region and review variance to budget on a quarterly basis.
Create value in the real estate portfolio in other ways including density opportunities, unit conversion, change use of space, and unit expansion projects.
Identify and underwrite opportunities to increase income and/or reduce expenses.
Assist in the creation of asset plans by performing asset-level valuation including gathering of market data, reviewing property performance, and measuring each asset against its budgets and goals.

QUALIFICATIONS
Bachelor’s or Master’s in Real Estate or Business
Minimum 5 years of experience in financial analysis or business analytics, real estate industry and multifamily sector experience required
Excel modeling/proficiency required.
Possesses thorough understanding of property management software systems utilized at the property level and ensure accurate database. Yardi experience is preferred
Strong analytical, organizational, time-management, attention to detail and accuracy, written and verbal communication skills
Self-motivated with strong interpersonal skills and effective collaborative working style
Ability to travel.

Essex offers a comprehensive benefits package that reflects how much we value our associates and their families:
For regular full-time associates regularly scheduled to work at least thirty (30) hours per week:
• Medical, Dental, Pre-tax flex plan, Basic life insurance, Supplemental life, Short- and long-term disability, Accidental death insurance plans.

For part-time and full-time associates:
• Employer-matching 401(k) plan that offers financial planning and independent brokerage services.
• Wellness Program, 24-hour Employee Assistance, Service awards and Paid time-off.