Asset Manager – Real Estate

Company Description

Our client is a leader in the institutional management of private investment capital. Headquartered in Greenville, SC, this family-owned firm directly owns and manages a diversified, national portfolio of real estate, renewable energy, and infrastructure assets valued at over $2 billion. The firm applies an institutional quality investment process and governance structure to the management of a permanent balance sheet and seeks to positively impact the communities in which it operates and to be a steward of the environment from a generational perspective. The company possesses in-house development/construction management, asset management, and reporting capabilities to support its investment activities.

Position Overview

 This role combines direct property purview with broader support responsibilities across the entire portfolio. Initial direct purview will be over 8-10 assets including multifamily (4-5), industrial (2-3), and one government-occupied office building. Direct purview may be expanded later to include the company’s self-storage holdings. 

This position is ideal for the candidate with deep experience in real estate asset management support who is ready to take on expanded direct oversight responsibility including directing third-party property managers and collaborating with partner asset management teams. 

The model candidate will be highly motivated, confident in their knowledge while open to other views, and exhibit a strong desire to “own” their area of purview. 

• Serve as chief point of contact with third-party property managers in delivering on the performance targets of each asset. In multifamily, this may take the form of liaising with the joint venture partner in their direct oversight of a third-party manager.
• Review monthly property financials and operating reports for performance against plan and original underwriting. Utilize benchmarking across the portfolio to identify operational anomalies and recommend changes where needed to meet operational goals. Report monthly on asset performance, updating senior management on progress on key initiatives (corrective or otherwise).
• NNN lease portfolio (industrial, one office building, minor retail within multifamily) – Become knowledge-bearer of key lease terms, including tenant expense recovery methods, and ensure third-party managers are carrying out landlord’s responsibilities effectively and actively monitoring tenant compliance with lease obligations.
• Capital event transactions (dispositions, refinancings) – Ensure the accurate, complete, and timely delivery of key information to interested parties (buyers, lenders, brokers).
• Compile, analyze and present portfolio-wide metrics relating to both financial performance and other metrics such as lease expirations, debt maturities, major tenant exposures. Compile and regularly track occupancy, pricing, and retention across the multifamily portfolio (including assets not under direct purview) and work with the MD/VP in developing action places to improve performance.
• Ensure third party managers are following best practices in carrying out major maintenance and improvement projects at the property. For example, scope development, vendor selection, and bid leveling.
• Budgeting and Forecasting – Along with MD/VP, set annual target expectations with third-party managers, assess capital improvement needs, review submitted budgets, and present key notes to MD/VP. Reforecast the annual performance outlook quarterly and explain departures from budget and future actions.
• Work with Real Estate Accounting Manager in monitoring collections, stay abreast of delinquency drivers, and implement courses of resolution.
• Monitor property tax assessments and related key dates including appeal deadlines. Engage with local consultants and follow decisioning protocols for appeal actions.
• Build Excel models and related sensitivity analyses to evaluate property and partner level returns based on performance to date, anticipated future performance, and exit scenarios as needed for hold/sell decisioning, the company’s strategic planning, and general re-underwriting of the portfolio.
• Participate in the annual valuation of the portfolio including market research on trade activity and cap rates.

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Required Experience and Education

• Bachelor’s degree in finance or accounting or related field; concentration in real estate a plus
• MBA, CPA, and/or CFA is a strong positive, but not required.
• Relevant experience in real estate asset management, investment analysis, or portfolio management in private equity; multifamily and NNN lease experience preferred
• Proven ability to read and draw conclusions from financial reports and other data
• Ability to define problems, research and establish facts, and outline draft solutions for discussion
• Experience preparing, reviewing, and approving budgets; general understanding of generally accepted accounting principles (GAAP) to analyze financial information
• Demonstrable competence in creating property level cash flow models in Excel. An Excel test will be required, and work samples requested.
• Exceptional written, verbal, and financial analysis skills
• Ability to work on a wide variety of assignments concurrently, self-direct and prioritize, and work flexible hours to meet project deadlines
• Strong communication and organizational skills
• Accuracy and attention to detail is critical
• Demonstrated proficiency in Excel and PowerPoint. Power BI experience a plus.
• Ability to produce top quality presentation materials (MS Word, Excel, PowerPoint).
• Strong work ethic and strong drive commensurate with in-place high-caliber team

Travel

Travel as required to execute above responsibilities; not expected to exceed 25%. 

Supervisory/Management Responsibilities

No immediate direct supervisory responsibility.