Asset Manager

Job Description

Job Description

Description:

Who is Laramar? Founded in 1989, Laramar has grown from a small real estate investment company to a distinguished national real estate investment and property management corporation with a multi-billion-dollar portfolio. For 35+ years, Laramar has managed a wide range of properties from high-rise urban to small building to suburban garden-style.

Why should I work for Laramar? Laramar delivers an unparalleled level of service to the real estate industry and our success is attributed to our people. We have a well-trained team of real estate professionals who love their work and honor their commitment to our clients and our residents. If you are seeking a position where your enthusiasm, passion, and creativity are welcome, join the Laramar team!

Are there perks? Yes! Laramar offers excellent medical/dental/vision insurance, flexible spending accounts, Company paid life insurance along with paid short and long-term disability insurance, paid Federal holidays including paid time off from Christmas Day through New Years' Day, a generous paid time off program, partial work-from-home schedule, and a 401k with Company match.

The Asset Manager is the primary strategist responsible for a portfolio of real estate assets with a focus on multifamily rentals. Property Asset Managers have the responsibility of maximizing the performance and value of the Company's portfolio of real estate assets that are owned and/or managed through acquisitions, dispositions, or operations. They are also responsible for formulating and implementing a long-range real estate asset management and/or fund management strategy.

RESPONSIBILITIES:

• Develop and execute on near-term and long-term business plans for Laramar’s multifamily and medical office portfolio, identifying opportunities to maximize performance and asset value
• Maximize income through the local oversight and guidance of individual asset’s both operational strategy and capital investment opportunities within the assigned portfolio
• Collaborate with Laramar’s Investment Team on near and long-term strategies
• Exhibit an ability to work closely with Medical Office property management and leasing brokers to ensure that budgets and organizational objectives are achieved
• Develop strategies and recommendations for individual real estate assets and coordinating communication to both internal team members and external clients
• Maintain direct interaction with 3rd party providers, including property managers, engineers, lenders, brokers, attorneys, and other contractors
• Communicate and follow-up on expectations with other cross-functional teams, including Acquisitions, Construction, Risk Management, Corporate Tax, Accounting etc., in the execution of strategic business plans for the assets
• Present the regular status updates on goals and objectives
• Form effective working relationships and networks with vendors, contractors, third party property managers, appraisers, brokers, and other service providers to ensure timely and superior completion of all projects and deliverables
• Maximize revenue, control expenses, and enhance value on retained real estate assets
• Collaborate with internal teams during the annual budget process, including comparisons of budget projections to historical performance and most recent forecasts and comparison of budget projections to benchmarks and original underwriting
• Conduct routine meetings, site visits, and/or conference calls with operations to discuss asset-level strategies and operational issues
• Maintain detailed financial models, cash flow projections, and hold/sell analyses
• Assist with the preparation of internal valuations
• Assist with refinancing, disposition, and recapitalization activities
• Lead business meetings with the executive leadership team as well as present performance metrics
• Travel to real estate locations, client meetings, and internal meetings on an as needed basis

QUALIFICATIONS:

• Bachelor's degree in Finance, Real Estate, Business, Economics, or related field
• Minimum of 2+ years of real estate asset management experience
• Knowledge of capital improvement and value-add execution strategies, preferred
• Understanding of real estate fundamentals, financing principles, and basic capital structures
• Proficiency in Microsoft Excel and financial analysis tools
• Argus & Yardi knowledge, preferred
• Position requires acceptable motor vehicle driving history, valid and free from restrictions, and appropriate vehicle insurance coverage

SKILLS AND ABILITIES:

To perform the job successfully, an individual should demonstrate the following competencies:

• Embodies Laramar Core Values
• Strong oral and written communicator
• Positive attitude, organization with strong attention to detail, required
• Participate in proactive team efforts to achieve departmental and Company goals
• Must be detail-oriented and capable of handling multiple projects simultaneously
• Extremely professional and customer service oriented
• Proficiency in acquisition due diligence, analytics, leasing, and ongoing property value creation

SUPERVISORY EXPECTATIONS:

This role has no supervisory responsibilities.

Physical Demands and Work Environment: (The phrases "occasionally," "regularly," and "frequently" correspond to the following definitions: "occasionally" means up to 1/3 of working time, "regularly" means between 1/3 and 2/3 of working time, and "frequently" means 2/3 and more of working time.)

• The work environment is the typical property management environment. The employee must complete their work satisfactorily in an environment where there are significant distractions, including staff, clients, and vendors walking through and conversing, telephones ringing, conversations carrying over, loud noises, and interruptions to answer questions from others. Must be able to drive to sites or meetings with staff, clients, and vendors.
• The physical demands described here represent those that must be met by an employee to perform the essential functions of this job successfully. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• While performing this job's duties, the employee is regularly required to sit and use hands to finger, handle, or feel objects, tools, or controls. The employee frequently is required to talk or hear. The employee is occasionally required to stand; walk; reach with hands and arms, and stoop, kneel, crouch, or crawl.
• The employee must regularly lift and/or move up to 20 pounds and should do so in a sound and safe manner. This job's specific vision abilities include close vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.