Asset Manager
The Laramar Group LLC•Chicago, IL
•Hybrid
About The Position
The Asset Manager is the primary strategist responsible for a portfolio of real estate assets with a focus on multifamily rentals. Property Asset Managers have the responsibility of maximizing the performance and value of the Company's portfolio of real estate assets that are owned and/or managed through acquisitions, dispositions, or operations. They are also responsible for formulating and implementing a long-range real estate asset management and/or fund management strategy.
Requirements
- Bachelor's degree in Finance, Real Estate, Business, Economics, or related field
- Minimum of 2+ years of real estate asset management experience
- Understanding of real estate fundamentals, financing principles, and basic capital structures
- Proficiency in Microsoft Excel and financial analysis tools
- Position requires acceptable motor vehicle driving history, valid and free from restrictions, and appropriate vehicle insurance coverage
Nice To Haves
- Knowledge of capital improvement and value-add execution strategies, preferred
- Argus & Yardi knowledge, preferred
Responsibilities
- Develop and execute on near-term and long-term business plans for Laramar’s multifamily and medical office portfolio, identifying opportunities to maximize performance and asset value
- Maximize income through the local oversight and guidance of individual asset’s both operational strategy and capital investment opportunities within the assigned portfolio
- Collaborate with Laramar’s Investment Team on near and long-term strategies
- Exhibit an ability to work closely with Medical Office property management and leasing brokers to ensure that budgets and organizational objectives are achieved
- Develop strategies and recommendations for individual real estate assets and coordinating communication to both internal team members and external clients
- Maintain direct interaction with 3rd party providers, including property managers, engineers, lenders, brokers, attorneys, and other contractors
- Communicate and follow-up on expectations with other cross-functional teams, including Acquisitions, Construction, Risk Management, Corporate Tax, Accounting etc., in the execution of strategic business plans for the assets
- Present the regular status updates on goals and objectives
- Form effective working relationships and networks with vendors, contractors, third party property managers, appraisers, brokers, and other service providers to ensure timely and superior completion of all projects and deliverables
- Maximize revenue, control expenses, and enhance value on retained real estate assets
- Collaborate with internal teams during the annual budget process, including comparisons of budget projections to historical performance and most recent forecasts and comparison of budget projections to benchmarks and original underwriting
- Conduct routine meetings, site visits, and/or conference calls with operations to discuss asset-level strategies and operational issues
- Maintain detailed financial models, cash flow projections, and hold/sell analyses
- Assist with the preparation of internal valuations
- Assist with refinancing, disposition, and recapitalization activities
- Lead business meetings with the executive leadership team as well as present performance metrics
- Travel to real estate locations, client meetings, and internal meetings on an as needed basis
Benefits
- excellent medical/dental/vision insurance
- flexible spending accounts
- Company paid life insurance
- paid short and long-term disability insurance
- paid Federal holidays
- paid time off from Christmas Day through New Years' Day
- a generous paid time off program
- partial work-from-home schedule
- a 401k with Company match
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
