Associate Asset Manager

Merus•Cincinnati, OH

6d•Onsite

About The Position

The Associate Asset Manager plays an integral role on the Merus Real Estate Team, assisting and supporting the Directors of Asset Management with portfolio and asset management, property management coordination and supervision, reporting requirements, and monitoring individual and sub-portfolio performance. The position is located in Cincinnati, Ohio, and requires the ability to travel to other company locations and properties. The role supports the transition of assets from development to asset management, third-party property manager selection and oversight, property startup activities, budgeting, financial reporting, construction loan draw review, tenant coordination, rent collection, and property-level invoice review. The employee may also perform other reasonably related business duties as assigned by their immediate supervisor or other management. The work involves a typical office environment and occasional observational visits to construction sites. Physical effort is low and includes sitting, standing at files, bending, stooping, lifting, and walking. The maximum unassisted lift is 35 pounds, with an average lift of less than 10 pounds. The role requires keyboard and monitor use and verbal communication in person and by telephone, and may require some travel by car.

Requirements

1–2 years of experience in real estate finance, asset management, or another related financial services field.
College degree in Business Administration, Finance, Economics, Real Estate, or a similar field.
Strong computer skills, including the ability to use Microsoft Excel.
Experience in investment analysis and financial modeling in Excel.
Creativity, independence, initiative, and high levels of integrity.
A proven track record of high performance in prior work.
Ability to travel to other company locations and properties.
Ability to use a keyboard and monitor and communicate verbally in person and by telephone.
Ability to perform low physical effort tasks, including sitting, standing, bending, stooping, lifting, and walking; maximum unassisted lift is 35 pounds.

Nice To Haves

Experience with one or more property types, particularly office, multifamily, or industrial.
Experience with real estate market research and relevant data providers such as CoStar or Yardi.

Responsibilities

Assist with transitioning assets from development to asset management, ensuring documentation and information are obtained and recorded in the asset management system.
Draft Asset Management Agreements and Subcontract Agreements for the portfolio.
Liaise with third-party property managers and support the Director of Asset Management through the RFP and property manager selection process, contract negotiation, onboarding, and ongoing asset oversight.
Assist with project startup at turnover from development to asset management and property management, including the initial operating budget, utility transfer, assignment of accounting, and setup of property and liability insurance.
Collaborate with internal and external stakeholders to gather data and assist in preparing annual budgets and detailed financial reports.
Conduct periodic site visits to review the physical condition of portfolio assets.
Evaluate monthly construction loan draw requests against property budgets and provide recommendations to the Director of Asset Management for approval.
Assist with monthly reports on property performance and progress on strategic initiatives for management and investors.
Prepare rent rolls, invoices, and CAM reconciliations.
Maintain and update databases for tenant and vendor contacts, property information, and portfolio information.
Assist with coordinating new tenant move-ins and move-outs.
Coordinate monthly with property managers to support timely rent collection and prepare and distribute rent collection reports to internal stakeholders.
Review and approve property-level invoices in Spectrum weekly for accuracy and compliance with financial guidelines.