Multifamily Asset Manager

Company: Presario Ventures
Location: Austin
Posted on: January 17, 2020

Job Description:

Presario Ventures is seeking an experienced individual to lead our multifamily asset management and operations. This position is responsible for facilitating portfolio operations including monitoring cash flow and income growth, benchmarking, performing budget variance analysis, and facilitating investor reporting. The Asset Manager will develop and set goals, implement processes and procedures to maximize revenue and control expenses across the portfolio. This position will work closely with the investment team and senior management and will work from our main office in Bee Cave, TX. Salary is commensurate with experience. Location: Bee Cave, TX - Relocation Assistance: -Not Provided Responsibilities Business Plan Strategies: Responsible for the oversight and execution of the investment's operational business plan and financial strategy, budgets, forecasts, analysis, and reporting. Communication: Communicate with investors and other internal/external teams including acquisition, development, property management, legal counsel, auditors, financial groups, and tax consultants. Annual Budgets: Oversee the annual budget process which includes a detailed review of all budgets, comparisons of budget projections to historical performance and comparison of budget projections from proforma. Benchmarking: Complete ongoing portfolio analysis and decision making, guiding operational budgets; build dynamic financial models to forecast property cash flows and proforma variances. Reporting: Prepare monthly, quarterly and annual client reporting summarizing property and portfolio level performance; maintains back-office investor portal integration and completes quarterly distribution analysis for investor distributions. Development / Capital Improvements: Report and monitor monthly development draws and schedule; develop the capital budget and monitor ongoing capital projects as needed. Participate in ROI analysis on all capital improvement or value add initiatives. Acquisitions: Participate in the acquisition of portfolio assets through due diligence review of financial and operational documents including underwriting, legal documents, and third-party reports. Compliance: Maintain files and compliance records for state and county affordability requirements, housing authority and HUD loan programs and debt service obligations. Dispositions: Responsible for the asset disposition process including contract negotiation, facilitation of due diligence materials and prorations. Legal Contracts: Participates in partnership document review, including but not limited to: real estate contracts, partnership operating agreements, and private placement memorandums. Performance Monitoring: Analyze financial statements provided by property management on a monthly basis. Operational Strategies: Develop successful strategies and decisions relative to revenue, expenses, occupancy, and operational efficiencies to drive asset performance and investor returns. Property Taxes/Insurance: Manage property tax assessments and valuations to minimize tax expense; recommend, manage and ensure successful tax appeal efforts. Manage insurance claims and work collaboratively within the organization to minimize claim risk. Property Management: Conducts regular, scheduled calls to review performance with each property management team. Conduct routine on-site property inspections with the onsite management staff. Portfolio Assessment : Monitors the capital markets and manage the debt structure and terms of each asset in the portfolio and determine any refinancing or additional debt needs of each asset. Industry Benchmarking: Collect market data and conduct benchmarking analysis; maintain a database of all factors affecting markets and submarkets associated with the portfolio, including demographics and changes in supply and demand. Requirements: Bachelor's Degree in business, real estate, finance, or accounting. Prefer experience in multifamily real estate either asset management or property management. High real estate investment acumen backed by 5 to 7 years of asset management or relevant commercial real estate experience. Familiarization with multiple financing and equity structures, and multiple types of real estate documents. Proficiency in Excel financial modeling. Prior experience modeling complex asset-level and/or entity-level real estate transactions, waterfalls, sensitivities, etc. Analytical thinker with the proven ability to understand a complex situation and build a financial model to calculate the impact of various drivers/variables. Thinks critically and draws well-reasoned conclusions. Must be self-motivated and act with a sense of urgency, detail-oriented, and able to prioritize tasks and work under time constraints. Must have excellent interpersonal communication skills both, verbal and written, with the ability to communicate detailed financial metrics. Seniority Level: Associate, Senior Industry: Investment Management, Commercial Real Estate, Capital Markets, Private Equity Employment Type: Full-time Job Functions: Analyst, Investments, Finance, Operations, Other

Keywords: Presario Ventures, Austin , Multifamily Asset Manager, Executive , Austin, Texas