Summary
Bluerock has an immediate opening for a Multifamily Asset Manager. This position would ideally be located in
Phoenix, AZ, or Texas as part of our West portfolio.
Bluerock is a leading institutional alternative asset manager based in New York with regional offices across the U.S.
Bluerock principals have a collective 100+ years of investing experience, have been involved with acquiring over 50 million square feet of commercial and residential real estate with approximately $13 billion in value, and have helped launch multiple leading real estate private and public company platforms. Bluerock’s experience includes more than $8 billion of owned, managed, and sponsored assets and offers a complementary suite of public and private investment programs, with both short and long-term goals, to individual investors seeking solutions aimed at providing predictable income, capital growth, and tax benefits.
Learn more about us at https://bluerock.com/.
Job Description
The Multifamily Asset Manager will be responsible for maximizing the value of the firm’s assets. This individual will help develop and execute an asset management strategy for their Regional portfolio. Property strategy should encompass property operations, capital expenditures, and renovation/redevelopment programs, where applicable. The Multifamily
Asset Manager will also collaborate as necessary, with Bluerock representatives on regional investment activities, including due diligence efforts, investment market assessments and property underwriting assumptions. He/she will be a member of the asset management team and will have a significant responsibility for, and impact on, the portfolio’s financial performance.
Job Functions
- With a thorough knowledge of market performance and real estate operations, collaborate with third party property management teams and Bluerock operational teams.
- Leverage monthly and quarterly financial statements, business intelligence software, and a host of analytical tools to identify property and portfolio underperformance to budget and/or market benchmarks and collaborate with relevant team members to make necessary improvements.
- Incorporate a value-oriented approach to each asset by analyzing revenue opportunities and providing direction supported by financial models to justify major capital investments and financial decisions.
- Forge strong relationships with operating partners to work through challenges and communicate concerns up internal and external chains of command when expectations are not being met.
- Conduct frequent physical inspections of each property in assigned portfolio to develop a thorough understanding of each property and its challenges, assess implementation of strategic initiatives, assess operational and management performance, and identify opportunities for improvement and communicate those opportunities among relevant internal and external teams.
- In collaboration with leadership team, assess the capital needs/expenditures by property and develop a long-term capex plan for the portfolio that corresponds to stated strategy.
- Identify and oversee repositioning opportunities. Monitor market trends for opportunities to add value through renovation, expansion or repositioning of the assets and make recommendations accordingly. Supervise scope development, including opining on rent premiums, and ongoing implementation to ensure ROI expectations are consistently met.
- Take active role in creation of annual operating and capital budgets. Collaborate with teams and impart property and market knowledge to create comprehensive budgets that meet targeted investment strategies and objectives.
- Become an expert on assigned markets through on-site visits, in-depth analysis of industry trends and economic drivers, and maintenance of industry network then collaborate with executives to implement adjustments to property strategy to account for market shifts.
- Participate in evaluating, and make recommendations for the implementation, of various new products and services intended to grow ancillary income, reduce operating expenses, or create operational efficiencies.
Qualifications
- Bachelor’s degree, preferably in Business, Finance, Real Estate, or other relevant area.
- 3-5 years minimum of Operations or Asset Management experience, preferably in multifamily real estate.
- Familiarity with the general principles of real estate, including operations and analysis, budgeting, financial reporting.
- Ability to communicate complex issues effectively and professionally, both verbally and in writing.
- Effective interpersonal, communication and listening skills necessary to form strong working relationships with all levels of management and throughout the various cross functional teams.
- Ability to understand and interpret market trends, third party market reports, and operator market competitor surveys.
- Ability to define, develop, and execute asset management strategy, by leveraging and managing 3rd party property management teams.
- Familiarity with investment due diligence process along with the ability to provide local market leasing assumptions and competitive intelligence.
- Ability to think and act strategically along with a track record demonstrating sound business judgment when delivering an asset’s peak market value Strong negotiation, analytical and interpersonal skills are essential as is the ability to work independently.
- Ability to effectively multi-task, while maintaining accuracy and quality of work product.
- Strong self-starter that thrives in a fast paced, dynamic environment with multiple and evolving priorities and deadlines.
- Ability to effectively problem solve and work both collaboratively and independently as warranted.
Benefits
- Competitive compensation package
- Medical, dental, and vision insurance for you and your family members
- Short-term / long-term disability and life insurance
- Health savings account and flex spending accounts
- 401(k) plan
- Paid vacation / sick time off
- Paid holidays off
Job Type: Full-time
Pay: $100,000.00 – $120,000.00 per year
Benefits:
- 401(k)
- Dental insurance
- Disability insurance
- Employee assistance program
- Flexible schedule
- Flexible spending account
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Schedule:
- Day shift
- Monday to Friday
Supplemental Pay:
Location:
- Phoenix, AZ (Required)
Work Location:
- On the road
Company’s website:
- https://bluerock.com/.
Benefit Conditions:
- Waiting period may apply
Source: Indeed.com
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