Asset Manager, Related California

Related•San Francisco, CA

1d•Hybrid

About The Position

Related California and Northwest is seeking an Asset Manager to support the Northern California and Northwest affordable housing portfolios. The Asset Manager will work closely with the Senior Asset Manager on portfolio-wide initiatives, including reporting and analysis, while gaining direct asset management experience on a small subset of stabilized properties. The ideal candidate will be a motivated professional with a strong operational and financial foundation who is eager to deepen their expertise in affordable housing asset management. The Asset Manager will gain exposure across the full asset lifecycle while operating within a collaborative, entrepreneurial environment. The position will be based in either San Francisco, CA or Portland, OR, and will report directly to the Senior Asset Manager. We are a 5-person team with broad responsibility for a large, complex and growing portfolio of properties throughout California & Oregon. The portfolio currently consists of about 9,000 Affordable Units within 83 business units, 2,500 Market Rate units and about 250,000 square feet of retail space, growing at about 10% per year. Asset Managers are required to operate within an established framework of work and performance requirements but are encouraged to personalize processes to fit their personal style and achieve superior end results. This is a very entrepreneurial and collaborative department, so the successful candidate will be comfortable in a fast-paced and unstructured environment but will be assertive enough to advocate for improvements where needs are identified. The Asset Manager will be responsible for supporting the Senior Vice President and head of the department in all aspects of Asset Management responsibilities. The Asset Manager will have direct responsibility for financial modeling and analysis of the Market Rate portfolio but will be exposed to all aspects of the broader Asset Management practice. We are seeking an ambitious, organized and very tech-savvy individual that is comfortable in dynamic, fast-paced and entrepreneurial environments and ready to learn.

Requirements

Bachelor’s degree and/or 3-5 years of relevant experience in property management, asset management, or a related real estate role
Strong understanding of property operations, financials performance and budgeting
Experience reviewing monthly financial statements and annual operating budgets
Strong organization skills with an ability to manage multiple deadlines, tasks and assignments
Complex thinker with intellectual curiosity and a propensity to question established tenets
Keen attention to detail and innate time management skills
Suitability to an entrepreneurial culture that places a premium on performance
Exceptional interpersonal skills to represent the firm in a professional manner externally with third-party partners and their affiliates
Commercially conscious with an entrepreneurial spirit who demonstrates sound judgment and an aptitude for identifying opportunities and crafting creative solutions
Highly organized with an ability to process multiple active projects and initiatives simultaneously
Effective at idea generation, strategic planning and implementation
Excellent written and verbal communication skills
Must be a team player but also a self-starter that can perform with limited direction or oversight
Candidates that have a passion for real estate, a strong work ethic and a desire to advance professionally
Strong MS Office, Excel, Outlook and Word skills are a prerequisite

Responsibilities

Support day-to-day asset management activities for a defined group (15-25) of affordable housing properties, under the guidance of a Senior Asset Manager
Provide analytical and administrative support to the Senior Asset Manager across the region
Oversee property management or operating partners to ensure execution of business plan; conduct site visits to assess physical condition, operations, and compliance, and ensure timely resolution of action items
Analyze monthly property reporting (income statement, balance sheet, rent roll, etc.) and meet regularly with regional or site staff to review and course correct where necessary
Participate in annual budgeting and periodic reforecasting process; monitor performance against budget and explain key variances
Oversee and monitor loans and regulatory agreements for continued compliance
Respond to all stakeholder inquiries regarding property operations & performance
Participate in refinances, recapitalizations, acquisitions, and dispositions of assets
Take ownership in identifying value-add opportunities and strategies throughout the assets
Oversee cash management for each property, including tracking capital improvements, managing operating and reserve balances, and annual cashflow distributions. Manage all real estate tax exemptions, including submission of annual filings. Manage database of property valuations and ensure accuracy of tax billings
Report, track and manage all insurance-related incidents
Support Loan Conversions on new property deliveries and participate in the transition from development to operations