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Michael Page has partnered with a reputable real estate firm based in Houston looking for a Senior Manager of Asset Management.
Our Client is a privately held real estate investment, development, construction, and property management firm with a strong portfolio of assets in TX and across the broader region.
Leads the implementation and execution of strategies, programs, policies, and initiatives for multi-family, development, and asset-management properties. Ensures achievement of the financial and operating goals, and overall profitability of the portfolio.
ESSENTIAL JOB RESPONSIBILITIES:
- Participates and assists in formulating the annual business plan for the assigned multi-family and development properties
- Reviews, monitors, and reports on the multi-family and development portfolio's performance against budget and investment proforma by analyzing monthly operating and income statements, researching and taking appropriate actions to address variances, managing and monitoring cash flow, and preparing monthly and quarterly client portfolio/performance reports.
- Communicates with and closely interacts with the President of the firm and on-site team members to monitor the daily operation of the portfolio by conducting routine site visits and inspections, reviewing weekly leasing, occupancy, and revenue reports, addressing policies, procedures and compliance issues and developing strategies and programs that maximize the performance of the portfolio.
- Manages and oversees the multi-family portfolio's compliance with the established debt and equity providers, develops and provides reports to the investment principals and equity partners, monitors investment performance, returns and forecasts through financial modeling, and recommends ways for optimizing returns at the asset level.
- Gathers, complies and analyzes market, economic, and capital trends and factors impacting the performance of the multi-family portfolio, prepares and delivers presentations and updates to investment principal/investment committee, and participates in formulating the long-term disposition and exit strategy for the assets.
- Works with the capital projects group to plan for rehab and other capital improvements, and reviews and monitors progress on existing project to ensure on-time and on-budget completion.
- Leads and executes the implementation of revenue-enhancing and expense containment programs and initiatives of the property level, monitors resident turnover and satisfaction indicators, and identifies and acts on opportunities to drive operational excellence in the operation of the communities
- B.S. Degree in Accounting/Finance or 10 years' equivalent experience within Asset Management, Property Management or similar.
- Demonstrated knowledge of public/private sector housing development.
- Demonstrated knowledge of public/private sector financing programs (i.e. Section 8, HUD, HOME, Tax Exempt Bonds and Low Income Housing and Historic Tax Credit/LIHTC)
- Demonstrated organizational and time management skills
- Experience at interpreting limited partnership agreements, financial statements, and regulatory documents
- Strong analytical skills with a good understanding of Generally Accepted Accounting Principles
Market driven base salary plus bonus potential along with benefits such as health insurance, retirement and reimbursement for related travel and expenses.