Asset Management Associate

The Asset Management Associate provides timely support and analysis to the asset management team in connection with start-up and operation of the company's multifamily residential assets. The Asset Management Associate supports the execution of the Company's assets by performing financial and/or operational analyses of property cash flows and preparing appropriate documents to facilitate monthly, quarterly and/or annual reporting on multifamily assets within assigned portfolio.

Tasks listed below are not an exhaustive list of all the tasks that may be required for this position

• Asset Startup Duties
  • Work directly with development and third-party operations teams for successful startup.
  • Oversee RFP and onboarding of management team (as needed).
  • Engage property management to ensure execution of property management agreements, collaborate on asset staffing, and system startup.
  • Coordinate branding, websites, digital marketing, social media, etc. Work directly with marketing director / operations marketing.
  • Prior to delivery of first units, review and approve unit pricing, operating budget, preleasing goals, marketing strategy, opening of bank accounts, systems startup, etc.
  • Coordinate delivery date changes between the management and construction team.
  • Confirm with third-part management team that the opening checklist has been completed during lease up.
  • Review and walk property at startup and ensure that permanent and temporary signage are complete, tour path and model units are successful, and operating team is 100% operable.
• Operational Oversight
  • Act as owner’s representative and ensure that ownership interests are protected.
  • Execute lease-up strategy.
  • Serve as liaison among third-party management, joint venture asset management staff, and Alliance Development and Construction teams.
  • Ensure effective reporting to ownership team and investors, facilitate communication between ownership team and third-party management team.
  • Review and execute tax appeals; work to originate door fees and utility revenue share; oversee monthly operations funding requests; review risk management/ insurance for each asset.
  • Track and monitor lease-up to proforma goals and work with operations team on on-going improvements.
  • Oversee soft cost management for Development Budgets (Interest Carry Management, ODL management, Property Tax Management, Startup Costs, etc.) in conjunction with development manager.
  • Coordinate as necessary with Managing Director and Construction teams to complete capital projects.
  • Coordinate with finance team on proactive approach towards all maturing loans.
  • Oversee and provide final review of annual property budgets.
  • Coordinate insurance/tax payments in conjunction with Development and operations teams.
  • Ensure coordination of telecom agreements.
  • Conduct quarterly budget reforecasts as needed.
  • Conduct weekly operations calls, providing rent/concession suggestions as needed.
  • Ensure that marketing statistics (web/lead/tour/net leasing) are satisfactory and troubleshoot bottlenecks in operations.
  • Oversee monthly "Asset Management / Finance" report for cash flow projection, measurement against loan tests, and projection for capital needs.
  • Review onsite vendor contracts and review/negotiate for better pricing where available
• Disposition Duties
  • Work with Brokers / Buyers, JV Partner, Bank, Alliance legal and accounting teams to execute investment sales
  • Facilitated ff market sales, broker valuations and interviews, OM review, due diligence, final disposition.
  • Coordinate BOVs and due diligence during disposition.
  • Review and negotiate PSAs in coordination with legal team and development team.
  • Serve as liaison between property and broker, ensure proper feedback makes its way to on-site property staff.
  • Finalize…