Job Description
Specific Duties and Responsibilities: The Asset Manager will be primarily responsible for implementation of the strategic business plan for a growing real estate portfolio of operating mixed income, market rate, senior and urban master planned communities in various stages of its life cycle.
Overall duties include creating asset management plans and developing immediate and long- term strategies for development and stabilized operating assets as follows:
ENHANCE ASSET PERFORMANCE - Prepare, or cause to be prepared, an annual Asset Management Business Plan for each asset. The Plan shall address property operating budget projections for income, expenses, (including capital market plans - refinance, sale options), and shall identify all major issues and opportunities to optimize the value of the asset.
- Prepare periodic asset management reports/update to senior management and general partners on the financial and operational performance of the stabilized communities, which includes variance analysis, occupancy trends, rents, renewals/turnovers, and leasing results.
- Review, analyze and approve property budgets, along with any planned annual capital expenditures.
- Review operating statements (including forecast property cash flows/need) on a monthly basis to ensure that operating target results are met.
- Conduct regular (quarterly) site visits to ensure effective management and monitoring of assets under management, including review of physical needs assessment, and develop and update both short-term and long-term capital expenditure programs (working in conjunction with the property management agents).
PERFORM MARKET RECONNAISANCE & ANALYSIS - Conduct market reconnaissance, analyzing supply/demand, rent/sales comps, and other due diligence efforts on prospective real estate deals.
- Prepare project and fund level investment reporting as it relates to specific development assets, including proforma and
- waterfall distributions.
- Collaborate with Development Principals to prepare investment committee report/presentation, as needed to obtain Investment Committee's approval for new investments.
OVERSEE RISK MANAGEMENT & COMPLIANCE - Manage investor, lender, and regulatory relationships, ensure loan and JV compliance and other operating requirements and provide timely periodic reports to lenders and investors.
- Review annual audit and tax filings and respond to auditor questions.
- Create document abstract for closing transactions and operating agreements.
- Review adequacy and sufficiency of all forms of insurance required by law or needed to adequately protect General Partner's exposure or Ownership entity.
- Manage insurance losses, claims and project restoration efforts, in conjunction with property management and risk management.
PROVIDE PORTFOLIO EVALUATION & REPORTING - Determine capitalization strategies and analyze various scenarios to enhance value of real estate assets under management, including refinancing, etc.
- Perform due diligence and underwriting analyses to support acquisition, repositioning, and disposition strategies/activities, consistent with the business plan, to optimize portfolio value.
- Prepare limited and general partnership's distributions/schedule (including public agencies) and deploy strategies, processes, and technology that optimize the annual and residual cash flows for the GP investors.
OTHER DUTIES AS MAY BE ASSIGNED BY VIRTUE OF THE POSITION Experience/ Qualifications: Previous Work Experience - Prefer a minimum of five years of related asset management work experience (real estate industry is required).
Education/Training - Bachelor's Degree, MBA, preferred.
- Advanced knowledge of investment strategies and client servicing needs.
- Ability to present complex data and information to clients.
- Effective communication skills, both written and oral.
Employment Eligibility Verification - Must possess valid documentation to establish identity and U.S. employment eligibility.
- Submission to, and ability to pass, a thorough pre-employment background check and drug screening is a requirement for employment.
The Integral Group. is an Equal Opportunity Employer As an equal opportunity employer, The Integral Group recognizes that our strength lies in our people. We are committed to diversity. The Integral Group LLC
Job Tags
Temporary work, Work experience placement, Immediate start,