Asset Management Associate

Overview

Middleburg seeks an Asset Management Associate responsible for overseeing the performance, strategy and lifecycle of assets in the Development pipeline. The right individual will help to ensure that projects are delivered on schedule, in line with business plan and pro forma, within budget and are aligned with the Middleburg standard. As a vertically integrated company, the Asset Management Associate will collaborate with the Development, Capital Markets, Construction, and Operations teams as well as external partners to optimize value throughout the portfolio.

This position will be based in Charlotte, NC and largely focused on the portfolio located in the Southeast.

• Quality control over reporting issued by the Development team to include oversight of forecasts, exposure, construction schedules, contingency usage and monthly narratives.
• Working with the Development team to set the standard and quality of product:
• Identifying opportunities for value creation and revenue generation within the portfolio.
• Participating in standards walk and acceptance of units.
• Oversee and optimize the financial performance of the company's portfolio of operated assets.
• Identify, assess and mitigate project and portfolio risks.
• Be a market specialist – understand the dynamics of a lease-up, rental analysis and pricing strategy.
• Responsible for establishing and managing lease-up and annual budgets with assistance from Development Partner and Property Management teams.
• Analysis and comparison of Valuation reporting:
• Providing snapshot summary and benchmarking of in-place rents and NOI comparison to valuation on a quarterly basis.
• Strategizing with Property Management to align Operational goals with Valuation goals and supporting operational stabilization to achieve forecasted performance.
• Provide overall project benchmarking on a quarterly basis as it relates to construction schedule, development budget, lease-up pace, Valuation and other project milestones as requested.
• Complete monthly market tours in conjunction with Asset Management responsibilities.
• Responsible for internal and fund reporting for Development pipeline in their region which includes quarterly project updates and presentation to fund investors as required.
• Review monthly financials and variance reports with property management.
• Monitor real estate taxes and manage annual challenges through consultants.
• Review property insurance renewals and ensure cost effective and adequate coverage.
• Will be required to travel frequently to project sites throughout the Mid-Atlantic.

Knowledge and

Experience:

• The ideal candidate will have a bachelor’s degree in real estate, Finance, Economics, or a related field.
• Minimum of 4 years of experience in Multifamily Real Estate.
• Experience with asset management, including financial modeling and performance tracking.
• Strong knowledge of MS Excel, Word, and PowerPoint is required.
• Familiarity with multifamily real estate, JVA, legal and loan document negotiation, and multifamily asset management.
• Ability to manage multiple assets simultaneously.
• The ideal candidate will have strong interpersonal and analytical skills.

• Great benefits - We offer comprehensive health and wellness benefits tailored to meet your needs. Choose from two medical plan options, including a company-funded HSA plan with 100% premium coverage for employees. We also provide subsidized options for additional family members, as well as dental and vision plan choices. Other benefits include paid time off, paid volunteer time, and company-paid holidays, a 401(k) match, employer-paid Life and AD&D insurance, and educational reimbursement to support your growth.
• A job that challenges you - Middleburg strives for excellence in knowledge, service, and integrity. Excellence in knowledge means that Middleburg recruits and trains top-notch Team Members who are experts in their field and who continue to improve their industry knowledge. Team Members work together to provide excellent customer service that exceeds customers' expectations.
• Great Culture - We embrace a culture of responsible leadership at all…