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The Senior Asset Manager position is an integral part of the DLP Portfolio Management team, responsible for leading, managing, and executing a broad range of asset and investment-related activities. In this role, you will monitor and report on investment and property performance while partnering in the creation of long-term management strategies that enhance the value of our assets. Our growing portfolio emphasizes quality, desirable apartment homes that support workforce housing and new construction initiatives. All of these elements work together to make a meaningful impact in the communities we serve. You will be responsible for monitoring both financial and operational metrics to drive consistent performance of owned and managed assets. Your efforts will help facilitate growth and deliver consistent, positive investment returns and asset value through the execution of exceptional management, service, and capital improvement programs. Working closely with senior leadership, property management, construction management, investors, and partners, you will be expected to develop strong working relationships, credibility, and trust with each group.
Job Responsibility:
Work with property managers to develop a written, defined Success Action Plan for prompt turnaround of underperforming assets within assigned portfolios
Have an in-depth understanding of competitors within our target markets. Utilize this knowledge to drive performance of the properties within the assigned portfolio
Conduct regular property visits to ensure compliance with business plan, industry best practices, and to assess the general operational and capital needs of the property
Review and gain understanding of legal documents such as loan agreements, guarantees, and promissory notes, and coordinate with the borrower and respective staff to ensure the loans remain in compliance
Perform financial analysis of properties including operating statements, budget variance review, loan administration, lease analysis, and any other relevant reporting or documentation
Work closely with internal and external property management teams to review, approve, build and manage capital expenditures budgets for assets
Stay abreast of business and market trends and provide recommendations for expense savings and income opportunities
Research and recommend innovative strategies and technologies that can drive performance and value to the portfolio
Work with joint venture partners, construction management, property management and accounting teams to ensure effective management of lender / construction draws, reserves and lender holdbacks within the assigned portfolio
Assess performance of the assets relative to original underwriting strategies or business plans and industry benchmarks. Analyze data and present actionable recommendations to senior leadership on a monthly and quarterly basis, driving performance relative to the original underwriting strategies or business plans
Hold third party property management companies accountable to business strategy and achievement of budget expectations through weekly performance update meetings, monthly reporting and ongoing communication
Provide accurate, thorough and well articulated timely investor reporting each month
Maintain business relationships with general partners/developers, management agents, lenders, contractors, and third-party consultants as it relates to the flow of relevant and timely asset related communication
Monitor investment and property performance to preserve & increase the value of the investment throughout the asset life
Work with internal and external property management teams to drive asset performance in accordance with the approved budget and business plan
Requirements:
Background in multifamily asset management
5+ years of asset management experience overseeing repositioning, redevelopment, heavy value-add properties and troubled asset turnaround strategies
Experience overseeing RV/mobile home parks, resorts, hotels, self storage and/or office space preferred
Experience working with internal and external investment partners is preferred