Asset Management Associate

Alliance Residential Company • Houston, TX

1d • Onsite

About The Position

The Asset Management Associate provides timely support and analysis to the asset management team in connection with the start-up and operation of the company's multifamily residential assets. The Asset Management Associate supports the execution of the Company's assets by performing financial and/or operational analyses of property cash flows and preparing appropriate documents to facilitate monthly, quarterly and/or annual reporting on multifamily assets within the assigned portfolio.

Requirements

• Experience with financial modeling
• General understanding of the development, lease up, and investment sales process
• Strong analytical and problem-solving skills, attention to detail
• Proficiency in Microsoft Excel, PowerPoint and Word
• Good verbal and written communication skills
• Good organizational skills with the ability to prioritize and multi-task, and ability to work under pressure to meet deadlines
• Ability to work a schedule that may be other than 8-5 Monday through Friday, including overtime, depending on business needs.
• Proficient in Word, Excel, Outlook and accounting systems

Responsibilities

• Work directly with development and third-party operations teams for successful startup.
• Oversee RFP and onboarding of management team (as needed).
• Engage property management to ensure execution of property management agreements, collaborate on asset staffing, and system startup.
• Coordinate branding, websites, digital marketing, social media, etc.
• Work directly with marketing director / operations marketing.
• Review and approve unit pricing, operating budget, preleasing goals, marketing strategy, opening of bank accounts, systems startup, etc. prior to delivery of first units.
• Coordinate delivery date changes between the management and construction team.
• Confirm with third-part management team that the opening checklist has been completed during lease up.
• Review and walk property at startup and ensure that permanent and temporary signage are complete, tour path and model units are successful, and operating team is 100% operable.
• Act as owner’s representative and ensure that ownership interests are protected.
• Execute lease-up strategy.
• Serve as liaison among third-party management, joint venture asset management staff, and Alliance Development and Construction teams.
• Ensure effective reporting to ownership team and investors, facilitate communication between ownership team and third-party management team.
• Review and execute tax appeals; work to originate door fees and utility revenue share; oversee monthly operations funding requests; review risk management/ insurance for each asset.
• Track and monitor lease-up to proforma goals and work with operations team on on-going improvements.
• Oversee soft cost management for Development Budgets (Interest Carry Management, ODL management, Property Tax Management, Startup Costs, etc.) in conjunction with development manager.
• Coordinate as necessary with Managing Director and Construction teams to complete capital projects.
• Coordinate with finance team on proactive approach towards all maturing loans.
• Oversee and provide final review of annual property budgets.
• Coordinate insurance/tax payments in conjunction with Development and operations teams.
• Ensure coordination of telecom agreements.
• Conduct quarterly budget reforecasts as needed.
• Conduct weekly operations calls, providing rent/concession suggestions as needed.
• Ensure that marketing statistics (web/lead/tour/net leasing) are satisfactory and troubleshoot bottlenecks in operations.
• Oversee monthly “Asset Management / Finance” report for cash flow projection, measurement against loan tests, and projection for capital needs.
• Review onsite vendor contracts and review/negotiate for better pricing where available.
• Work with Brokers / Buyers, JV Partner, Bank, Alliance legal and accounting teams to execute investment sales.
• Facilitate off-market sales, broker valuations and interviews, OM review, due diligence, final disposition.
• Coordinate BOVs and due diligence during disposition.
• Review and negotiate PSAs in coordination with legal team and development team.
• Serve as liaison between property and broker, ensure proper feedback makes its way to on-site property staff.
• Finalize waterfalls, work with legal on finalizing loan docs, work with ownership/construction on completion of required punch lists, complete sale announcements and final memos.
• Work with Accounting on loan payoffs and JV distributions.
• Works with ownership team to negotiate PSA, access agreement and LOI.
• In advance of buyer’s due diligence, Asset Manager will coordinate the following items: QC walk of common areas, Walk of 100% units, Service contract and lease file audit, Retention bonuses for the management team, Personal property inventory.
• Any other duties assigned or directed.

Benefits

• Competitive compensation and incentives
• Generous paid time off including vacation, sick, holiday, birthday and volunteer time
• Low Premiums for Medical, dental and vision coverage; including access to telemedicine
• Paid parental leave for eligible new parents
• Flexible spending account
• Health saving account with Company match
• Company-paid life insurance
• 401K plan with employer matching
• Short- and long-term disability coverage

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: No Education Listed