Vp - Director Of Asset Management

A leading Southeast multifamily real estate operator is rapidly growing its multifamily assets under management and seeking a Director of Asset Management to join their team to lead the firm’s asset management efforts.

Job Title:VP - Director of Asset Management or Director of Asset

Management (candidate specific)

Executive Reports To:CEO & MACP Principal

Location:Tampa, Florida or remote (candidate specific)

Compensation:Competitive (candidate specific)

Contact:CJ Baier, [email protected]

The VP – Director of Asset Managementmaximizes the overall performance of a portfolio of multifamily assets while ensuring adherence to the strategic business and financial plan of each asset. The candidate will lead a team of portfolio managers, and potentially be responsible for individual assets, and will work closely with other teams including underwriting, finance, accounting, development, and construction.The position requires a high degree of institutional investor reporting, and the ideal candidate will have 5-10 years of prior fund level institutional reporting experience.This is a hands-on role responsible for driving results throughout theportfolio and includes managing internal staff and property management teams, renovations, new construction, reporting, budgets, and overall performance of all assets across the portfolio. Utilizing an ownership mentality, this individual sets team goals and priorities and reviews weekly and monthly financial and performance goals to make decisions and drive actions that ensure assets are performing at the highest level and meeting and exceeding expectations.

Key Responsibilities:

Prestigious multifamily ownership group has grown a portfolio of high performing multifamily assets in the Southeast, and now seeks an ownership-minded professional with 5-10+ years hands on residential portfolio asset management with additional prior property management experience a plus.

• Manage market intelligence and ensure competitiveness with the firm’s assets.
• Develop sensitivity analysis to showcase key value drivers that support pricing decisions.
• Forecast balance sheet and income statement analysis as well as cash flows, capital distributions, and investor returns.
• Oversee and often originate frequent written and verbal updates to institutional investor clients, including both property specific and fund level operational and financial communications.
• Effectively communicate with all stakeholders, including employees, coworkers, owners, lenders, investors, and partners on the status of the portfolio versus expectations.
• Ensure portfolio compliance with lender and insurance requirements.
• Strong multitasking, communication, writing and presentation skills.
• Supervise the third-party management teams’ efforts regarding leasing/marketing, budgeting, cost savings, rental rates, concessions, delinquencies, etc. to optimize and improve net operating income and realize the highest value of assets.
• Review financial reports and review variance analysis, monitoring of budgets, and financial modeling of assets for entire portfolio.
• Monitor all capital improvement projects including draw processes, progress tracking and compliance with local laws.
• Responsible for creating and executing on asset management strategies to achieve underwriting proforma goals across a multifamily real estate portfolio located in the Southeastern US.
• Act as internal strategist, lead the annual budgeting process, and create reports covering all key performance metrics of each asset.
• Develop overall strategy for uniform, institutional-level asset management policies and procedures.
• MS Suite and strong Excel and modeling skills.
• Analyze management and vendor contracts and fund-level operating agreements.
• Ensure all assets are maintained and following all regulatory and lender compliance.

Education & Experience Required:

• 5-10+ years multifamily institutional asset management experience, or similar.
• Proven problem-solving, conceptual thinking, and analytical abilities.
• Ability to travel as portfolio demands dictate, approximated at 10-25% of time.
• Strong process improvement and project management abilities, executive-level communication skills, and relationshipbuildingskills.
• Proven communication and marketing expertise, with advanced Excel experience and financial modeling skills preferred.
• Bachelor’s degree orhigher, preferably with business / finance / real estate focus.

About Us

Morrison Avenue Capital Partners caters to sophisticated investors who value best-in-class opportunities in the multifamily real estate sector. Over our twelve-year history, we have raised $423MM of equity across almost $1B of assets and delivered 35% IRR (net of all fees) and 2.02x (net of all fees) to investors over thirteen realized deals.