Director of Portfolio Strategy and Asset Management
- Develop and formalize asset management strategy and processes to maintain and improve assets (mixed-income/mixed-use residential developments)
- Identify and execute opportunities in the portfolio including recapitalizations, dispositions, etc.
- Provide proactive, hands-on asset management for approximately 25 assets
- Contribute to a portfolio wide strategy to maximize value and optimize resources
Responsibilities:
- Work closely with property managers and leasing team to establish business plans, budgets, and forecasts for assets in the portfolio
- Maximize cash flow and total return for each assigned property through the analysis of financial and operational reports to identify opportunities for improvements
- Develop annual asset management plans and propose long-term strategies for refinancing, buying out partners, resyndicating or disposing of existing properties. Execute those strategies
- Develop and distribute asset management reports that provide insight into the portfolio’s financial performance, leasing activity, collections, compliance with regulations, and required or recommended physical improvements
- Develop systems and platforms to effectively manage the portfolio
- Identify all reporting requirements and work with personnel responsible for report distribution to see that requirements are met
- Serve as liaison with the property management company
- Review and manage interest rate risk in the portfolio
Preferred Background and Skills:
- 7-10 years of real estate asset management experience, with a specific focus on retail and residential assets in the New York City metro area with an understanding of federal, state and city affordable housing programs
- Self motivated and proactive with an established track record of getting things done effectively and independently
- A team player, able to work in an entrepreneurial environment, balance changing priorities and meet deadlines
- Very strong financial modeling and quantitative skills
- Knowledge and understanding of real estate financial statements
- Excellent oral and written communication skills
- Strong organizational, analytical problem solving, and time management skills combined with attention to detail
- Experience with City-sponsored housing preservation programs
· Working knowledge of real estate asset management with significant exposure to multifamily underwriting, development and property management preferred
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· Comfortable navigating and analyzing transaction legal documents, financial projections and financial reports
Education:
- Masters Degree in Business, Real Estate or Urban Planning preferred
