Director of Asset Management

Director of Asset Management provides regional oversight for multi-family Asset Management functions.

• Acquisition Due Diligence:
  Work with Investments and Operations to review underwriting of acquisition candidates prior to final bid, as well as conduct on-site due diligence after winning acquisition bid. Responsible for opining on rental income and expenses, as well as providing independent evaluation of market and completing a market study of recommended rents, both pre- and post-renovation, if planned. Responsible for working with due diligence team to create value proposition and vision for asset upon acquisition.

• Recent Acquisitions (6-18 months, until repositioning plan completed and asset is stabilized):
  Lead asset teams (Asset Management, Operations, Construction) created to complete renovations and/or focus on property-specific issues. Responsible for executing the 90-day asset plan, creating the Final Asset Plan for renovations (as applicable) and ensuring the repositioning plan (management and/or rehab) is completed and the asset is stabilized.

• Team Facilitator and Performance Oversight:
  Run bi-weekly asset team calls; provide follow-up notes and action plans (as outlined below). Responsible for coordination within the team to facilitate progress and drive results. Also review weekly and monthly reporting (occupancy, action plans, financial statements) to identify concerns and work with Operations to address issues impacting revenues and NOI.

• Special Situation (SS) assets:
  Asset Management will be involved in SS issues (either property level or capital structure) that adversely affect cash flow and potentially require communication with owners/lenders. As a result, discussions are needed with Operations, Financials Services/Accounting and/or Construction Services to understand the underlying issues and recommendations. At times, Asset Management will complete additional evaluations (e.g., independent market survey, financial analysis) to more deeply and independently understand the issue, as needed.

• Stabilized Assets:
  Annual Budgets: Asset management will i) work with Financial Services, Operations, and Construction Services to provide guidance and final approval for yearly operating and capital budgets for all Bell assets; ii) identify, analyze and work with Operations and Construction Services (where applicable) to recommend opportunities to add value (e.g., interior unit renovation programs, expense reductions, etc.); and iii) complete cap ex walks if a significant major/capital plan is being proposed (e.g., >$800
  
  per unit) and/or a renovation is recommended, neither of which has yet been approved Cap Ex Related:
  Asset management will approve Major/Cap Ex and/or provide design recommendations per Bell policy.

• Communication / Reporting:
  Asset Management will work with Investor Relations and Fund Accounting to address owner/investor inquiries and provide property highlights for the quarterly fund report and year-end investor letters.

• Coordination Among Bell Resources:
  Reach out to internal resources (Accounting, Financial Services, Risk Management, Revenue Management, Purchasing, Marketing, Utility Management, IT) to address property specific issues, improve income and expense control and ensure on-going innovation in design and rehab implementation.

• Additional Functions and Responsibilities:
  Additional duties and projects as assigned.

• Must demonstrate Bell Core Values and work and fit well within the company culture.
• Demonstrate financial acumen, research and analytical skills; strong problem-solving skills and quantitative abilities; must be able to absorb large amounts of data quickly and be capable of reaching…