The Related Group has enhanced skylines with iconic developments. From luxury high-rise condominiums to more affordable developments, the Related Group’s distinctive brand of culture, design, and lifestyle-infused properties continues to revitalize urban neighborhoods. To date, Related has built and managed more than 100,000 condominium and apartment residences that are meticulously designed with finishes and amenities that transform buildings into vibrant residential environments. Related offers competitive compensation, excellent benefits, and a work environment that encourages everyone to be their authentic selves. We are currently looking for a Director of Asset Management to join our team.
We are seeking a dynamic and experienced Director of Asset Management to oversee a diverse portfolio of mixed-use real estate assets encompassing multifamily, retail, and office uses at various stages of development. This role will work closely with the COO, Director Finance, and property operations team to actively increase the long-term value of the assets. The role will help support, recommend, and drive financial decisions regarding revenue optimization and expense control in order to maximize property performance and returns for investors.
Job Responsibilities include but are not limited to:
- Maintain models for assigned assets, updating them with new leases and adjusting market assumptions and valuation parameters as needed.
- Collaborate closely with Property Management teams to ensure assets meet acquisition proforma objectives, business plan elements, and investor goals.
- Manage capital improvements and assist with annual budgeting.
- Develop action plans for under-performing assets to improve performance promptly.
- Identify opportunities for operational efficiencies to increase revenue or reduce expenses.
- Manage lease renewal strategy to meet or exceed proforma goals, considering local market conditions.
- Monitor financial results and collaborate with Property Management to enhance asset value, cash flow, and profitability.
- Ensure quarterly and annual cash distribution targets to investors are achieved, making recommendations as necessary.
- Produce quarterly investor communications and conduct regular site visits to assess operations, leasing, and property conditions.
- Participate in marketing and leasing calls, analyzing lease transactions and their impact on asset value.
- Work closely with development and finance teams to ensure that financial projections are in accordance with the investment objectives, lender covenants, and approved business plans for each asset within the portfolio.
- Evaluate investment performance against proforma and budgets.
- Assist in dispositions and financings, compiling and distributing due diligence information as required.
Requirements:
- Bachelor’s Degree preferably in Real Estate, Business, Finance or Accounting
- 5+ years of professional work experience in directly managing commercial and residential real estate assets
- Strong attention to detail
- Advanced understanding of real estate principles and concepts
- Excellent written and verbal communication, collaboration, and relationship building skills.
- Experience in developing visualizations and related reporting using a variety of tools and technologies (ex. Argus, Yardi, CRMs, Real Page, etc.)
- Experience with MS Office required and advanced understanding and proficiency with Excel.
Benefits as a Related Employee:
- Base Salary and Performance bonus
- Medical, dental, vision, legal services, flexible spending account.
- Employer Match Commuter Benefits.
- The benefits package includes 100 percent employer-paid life and disability insurance.
- Employer Matching 401k.
- Upward Mobility
- Employee Engagement and Wellness programs.
- Company-paid Vacation, Sick, Personal, and Holiday Time.
- Opportunities for Professional Development and Tuition Reimbursement.
The Related Group is proud to be an Equal Opportunity Employer.
We are a Drug-Free Workplace.
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