Asset Management Associate

Red Cove Capital is a private real estate investment management firm focused exclusively on the U.S. residential housing sector. We partner with experienced developers and operators nationwide, providing innovative debt and equity capital solutions across multifamily, build-to-rent, student housing, affordable housing, and residential development projects. Founded in 2022, we combine institutional investment discipline with an entrepreneurial mindset, allowing us to structure flexible capital solutions and execute complex transactions efficiently in today’s dynamic real estate market. Position Overview Red Cove Capital is seeking a highly motivated Asset Management Associate to join our growing investment team. This role will be responsible for actively managing a portfolio of multifamily real estate investments (Construction & Lease-Up Management for Market Rate, Active Adult (55+), Affordable, Student), supporting value creation initiatives, and working closely with development partners, operating companies, and internal investment teams. The ideal candidate is analytical, detail-oriented, and comfortable operating in a fast-paced, entrepreneurial environment. This is a high-visibility, hands‑on role that sits at the intersection of property-level execution and asset management. Key Responsibilities Manage and monitor a portfolio of residential real estate investments across multifamily and related asset classes Track asset performance, budgets, construction progress, leasing activity, and financial reporting Conduct monthly and quarterly reviews of operating reports, financial statements, and rent rolls, identifying variances and driving corrective action with property management teams Develop, maintain, and update asset-level financial models (cash flow projections, IRR/equity multiple tracking, hold/sell/refinance analyses) on an ongoing basis Track and report portfolio KPIs including occupancy, effective rent growth, NOI, leasing velocity, concession levels, and capital expenditure progress Analyze market trends, property-level data, and portfolio risk exposure Support acquisitions and capital markets teams with asset-level insights Identify operational or financial issues and recommend corrective actions Assist in execution of business plans for development and value-add projects Qualifications - Required Bachelor’s degree in Finance, Real Estate, Economics, Accounting, or related field 3–5 years of experience in multifamily real estate asset management, acquisitions, or related investment role at a private equity firm, REIT, or institutional investment manager Strong financial modeling skills; proficiency in Excel is essential (Argus and/or Yardi a plus) Solid understanding of multifamily operations, property-level financial statements, and real estate investment structures (equity waterfalls, debt compliance, JV agreements) Ability to analyze operating statements, budgets, and development pro formas Excellent written and verbal communication skills; comfort preparing materials for investment committee, lenders, and equity partners Highly organized, detail-oriented, and proactive problem solver Ability to thrive in a fast-paced, entrepreneurial environment Preferred Experience managing or supporting active adult (55+) multifamily assets, with working knowledge of lifestyle programming, age-restricted leasing requirements, and the resident profile unique to this product type Familiarity with ground-up multifamily development processes, construction draw management, and pre-development asset management activities Experience with property management platforms (Yardi, RealPage) and investor reporting tools MBA or graduate degree in real estate or finance What We’re Looking For Beyond the technical qualifications, we are looking for someone who operates with the mindset of an owner. The ideal candidate is intellectually curious, proactive in identifying issues before they escalate, and capable of distilling complex operational data into clear strategic recommendations. You should be equally comfortable in a spreadsheet and on a site visit — and understand that the best asset managers are the ones who actually know their assets. Competitive base salary commensurate with experience Performance-based bonus Carried interest / promote participation (deal-by-deal or fund-level, depending on experience and fit) #J-18808-Ljbffr