Asset Manager

This position has a preferred location in Pittsburgh. Will also consider candidates from Columbus, Charlotte, Nashville, or Atlanta.

The Asset Manager will be part of a growing and dynamic team responsible for managing a portfolio of assets, formulating and executing asset management strategies, and collaborating on acquisitions and dispositions within the portfolio. The ideal candidate will be a confident, dynamic and sophisticated investment professional with a thorough understanding of institutional real estate, with student housing/multi-family experience and a demonstrated track record of value creation. Additionally, the Asset Manager will be responsible for leading a cross-functional team in a matrixed environment.

Responsibilities:

The Asset Manager would be fully responsible for the performance of the assigned assets with the goal of enhancing value and maximizing returns. Responsibilities would include:

• Develop, present, and execute comprehensive annual business plans and budgets for each asset.
• Work in partnership with acquisition team on underwriting and due diligence efforts for new investment opportunities.
• Manage takeover of new assets, ensuring smooth and successful transition into the portfolio.
• Become the local expert in each market where properties are assigned, with a focus on knowing competitive assets, the development pipeline, and other economic drivers that could impact asset performance.
• Develop and maintain relationships with market participants, such as brokers, owners, managers, consultants, etc.
• Liaise with internal and third-party resources (such as property managers, construction managers, leasing agents, etc.) to ensure successful implementation of business strategies and business plans.
• Perform hold/sell analyses and determine optimal time for disposition; develop go to market strategy and effectuate dispositions for optimal investor returns
• Work with lenders to extend, modify or refinance debt
• Report on property, portfolio, or market performance Develop a working knowledge of leases, loan documents, partnership agreements, property management agreements, construction contracts and other related documents
• Review financial reporting and variance analysis, coordinating with property management and accounting personnel to ensure that financial statements are accurately presented and to ensure properties meet or exceed budgets and business plans
• Perform asset-level valuation reviews as needed, including gathering market data, reviewing property performance and measuring each asset against its budgets and goals.
• Visit all properties within the portfolio on a 1-3x annually to ensure assets are being operated per approved business plans and budgets.
• Assist with documenting and updating relevant policies, processes, and procedures.
• Complete all work in an ethical, fair, and consistent manner.
• Perform other duties as assigned.

Requirements

• Bachelor's degree in finance, real estate, economics, engineering or a related field required; MBA, MS Finance or advanced degree in real estate preferred.
• 3 to 5 years' experience asset managing geographically dispersed Class A and B properties in multi-family required. Student housing experience a plus.

• 1 to 3 years' experience with value-add, construction and redevelopment projects.
• Thorough understanding of financial statements and reporting with exposure to institutional investment.
• A strong expertise with MS Excel cash flow modeling, IRRs, and NPVs is required. Familiarity with RealPage is a plus.
• Detailed understanding of the due diligence process; experience in real estate acquisitions is a plus.
• Strong interpersonal skills with a demonstrated ability to lead internal and external business partners, consultants, and clients.
• Effectively and professionally communicate complex issues both verbally and in writing to senior management.
• Highly self-motivated, confident and driven.
• Strong intellect and strategic thinker with solid quantitative, financial and analytical skills.
• Proven ability to work effectively in an entrepreneurial environment.
• Travel including overnight stays.