AMCAL, a rapidly growing developer of diverse real estate projects, is seeking an energetic individual to provide asset management expertise for our extensive portfolio of multi-family, student housing and mixed-use developments. The primary responsibilities will include maximizing cash flow and long-term property values, ensuring compliance with all regulations and our partnership agreements, and timely reporting.
The Asset Manager reports to the senior management team and leads all aspects of property-level operating activities and strategies for the Company’s market rate and student housing residential portfolio. Responsibilities include financial reporting, property budget preparation and review, leasing strategies, preparing and presenting strategic asset plans, overseeing property management and tenant relations, and assisting with in the due diligence process related to refinancing and sales. The Asset Manager will also work actively with both the Development team to assist with design decision including spec levels/finishes/amenities to optimize rents and reduce long-term maintenance and the CFO to assist with refinancing and dispositions.
The ideal candidate has 5+ years of experience in asset management and leasing, is analytical, deciphering financial data to effectively review and drive returns and to assess the performance of individual residential assets in Company’s portfolio. The ideal candidate is well organized, able to implement best asset management practices and work independently with minimal supervision and is able to thrive in an environment that is highly entrepreneurial, both strategic and creative, and which requires rapid learning, multi-tasking and prioritizing under tight deadlines.
- Develop and execute annual business plans.
- Review and analyze monthly property financial statements; create new standard monthly, quarterly and annual reports for senior management, lenders and investors. Conduct various analyses of accounting reporting, real estate taxes, risk management, property value analysis, market trend projections to inform design, leasing, financing and disposition strategies, property information, etc.
- Manage and execute asset transactions including refinancing and dispositions.
- Regular, recurring calls and meetings with property management teams to ensure asset goals and budget are being met and if not, hands on approach to provide necessary support.
- Analyze and monitor the financial performance of investments, which entails maintaining financial models, reviewing annual budgets, and raising awareness of performance concerns.
- Perform onsite property visits, conduct property reviews to evaluate performance and direct punch list and construction hand-off processes.
- Produce ad-hoc analyses to evaluate the performance of assets. Analyze and identify opportunities for value enhancement, improving cash flow within the portfolio including dispositions, refinancing and lease transactions.
- Oversee any tenant legal proceedings. Help identify problems and opportunities to formulate and execute plans on uncovering cases related to non-payment, illegal, and fraudulent activity at the property and/or tenant level.
- Collect market data and conduct bench marking analysis.
- The AM must verify the comps in the market by directly walking the market.
- Administer the lease administration process including monitor leases, management agreements, vendor contracts, utility contracts, etc. to protect ownership rights and ensure contract compliance
- Abstract management contracts and monitor key approvals.
- Support risk management functions and act as liaison for properties with insurance broker.
- Reports to the Director of Asset Management.
- Applicant should have a bachelor’s degree in a related field and work experience and/or graduate level coursework in a field supporting the job requirements, with cumulative asset or property management work experience of at least five (5) years in multi-family housing knowledge.
- Possess strong working knowledge of mechanics of real estate, including but not limited to ability to interpret accounting reports and obtain market and demographic information.
- Interaction with other company departments on various matters.
- Exemplary organizational and communication skills, and a high capacity to multi-task are prerequisites.
- Excellent grammatical and typing skills will be used in conjunction with Word, Excel and various bookkeeping software are required.
- Use of personal vehicle is required (valid driver’s license and insurance required), as is frequent local travel for site visits.
- Position based in Agoura Hills, CA – relocation not covered.
- A criminal background check and review of current driving record may be required.
- Salary – DOE
- Health/Dental/Chiropractic coverage available for individual after three months. Dependents can be covered at employee’s expense.
- Life Insurance after 3 months.
- 401K participation after 6 months.
- Three weeks’ leave (vacation, personal, sick) per year for the first six years.
- Eight paid holidays per year.
- Discretionary bonus paid annually based on individual and company performance.