Job description
JOB SUMMARY:
The Managing Director, Asset Management plays an integral role in driving the success of the company’s investments, responsible for growing the portfolio while maximizing property values in the long run.
Key responsibilities include creating and implementing strategies to maximize each asset’s potential in the areas of revenue generation, capital planning/investment, net operating income and value. This position will have a highly visible role within the company’s high growth real estate investment platform and collaborate closely with all disciplines in the company throughout the life cycle of each asset.
The role is a key player involved with the evaluation and execution of acquisitions & developments alongside senior management. This individual will be involved in all aspects of the deal process including financial analysis, market research, due diligence, financing, business plan development, and closing.
Additional responsibilities will include ensuring detailed business plans for each asset, ensuring property-level and investor-level reports, tracking property-level budgets and performance against relevant benchmarks, as well as ad-hoc analyses to support the asset management and acquisitions teams for both existing and new investments.
ESSENTIAL FUNCTIONS:
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Asset Management*
- Perform asset management activities, including development of branding, management and repositioning strategies and adherence to the detailed business plan
- Act as the owner representative in interactions with management teams to ensure owner strategies are effectively implemented
- Identify and execute value-add opportunities, and drive management to maximize profitability and the long-term value of each asset
- Prepare and present monthly, quarterly and annual asset management and portfolio reports, cash flow forecasts, and waterfall distribution analyses
- Revise strategies and the accompanying business plan to address changes in market and/or property conditions as well as any amended investment strategies
- Perform detailed review of weekly forecasts and similar reports, monthly income statements, audits, surveys and revenue management strategies to identify weaknesses and inefficiencies as well as revenue enhancement opportunities
- Provide recommended solutions to any operational issues that could impact the financial performance of an asset
- Track market activity to remain current on trends and events affecting the industry, as well as local market dynamics including supply and demand changes and trends
- Negotiate and ensure compliance with third-party leases, loans, franchise agreements, management contracts property improvement plans, and other vendor related documents that impact operations
Portfolio Management
- Manage and track portfolio and asset performance and compliance, including portfolio sensitivities on financing, operations, and cash flow to assist senior management and investment partner review of strategic and risk management decisions
- Assist with investment and accounting teams to assess cash flow needs, capital requirements, and property-level distributions on at least a monthly basis
- Coordinate with lenders on reporting, covenant calculations, draw requests and hedging activities
Operations
- Ability to understand and manage detailed financial models utilizing Excel for acquisition and development projects that incorporate various scenarios, capital structures, and cash flow distribution waterfalls
- Monitor the management and implementation of capital renovation projects and operating activities
- Analyze performance to industry and Company key performance indicators as determined through the underwriting and the business plan
MARGINAL FUNCTIONS:
- Attend meetings and training as required
- Any other duties as assigned by your supervisor which are necessary for the continued operation of the company
QUALIFICATIONS:
Education:
- Bachelor’s degree in a related field (business, real estate, etc.) required
Training & Experience:
- Minimum 10-15 years’ management experience in operations, asset management and/or marketing, with demonstrated leadership success
- Proven skills and/or direct experience with employee performance assessments and providing strategic guidance in the field
Technology:
- Proficient in Microsoft Office; specifically, Excel, Word and PowerPoint
- Computer literate – able to prepare correspondence, access information from property management software and conduct business via e-mail and internet
Licenses, Certifications & Special Requirements:
- None
Performance Measures:
- Ability to meet stated objectives in an effective and timely manner
- Ability to connect with and to create positive relations with senior management within the company, investors, lenders and brand and management representatives
- Solid analytical skills and ability to articulate assumptions, conclusions, and recommendations
- Meticulous attention to detail, superior work quality
- Thoughtful and effective presentation and communication skills with the ability to think like an investor
Travel:
- Regional travel (Western US & Texas)
Job Type: Full-time
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