Asset Manager

The Asset Manager serves as the ownership representative for a vertically integrated multifamily real estate development and operating company. This individual manages a portfolio of 500–1,000 units across approximately 15 properties, overseeing asset performance from lease-up through stabilization and exit. The Asset Manager works at the intersection of finance, operations, and investor relations — translating property-level data into strategic decisions that protect and grow investor capital. This role reports directly to the President/Principal and serves as the primary point of contact for lenders, equity investors, and institutional capital partners. The Asset Manager works in close coordination with the company's property management arm, ensuring operational execution aligns with ownership objectives at every stage of the investment lifecycle. Key Responsibilities Monitor NOI, DSCR, occupancy, and collections across all assets on a monthly basis; present variance analysis and corrective action plans to ownership Review and approve annual operating budgets submitted by property management; hold PM accountable to budget performance Analyze T-12 financials, rent rolls, and aged receivables; identify underperforming assets and develop value-add strategies Maintain and update asset-level proformas; track actual vs. projected IRR and equity multiple for each investment Approve capital expenditure budgets and oversee capex draw process including AIA documentation and lender inspector coordination Serve as primary lender relationship contact for all assets in the portfolio Manage debt compliance: DSCR covenants, reserve requirements, insurance certificates, and periodic lender certifications Engage debt brokers and evaluate refinancing options (agency, bank, life company, CMBS, bridge) 18–24 months prior to loan maturity Assemble and present lender packages for refinances, modifications, and assumption approvals Coordinate construction loan draw requests; manage lender inspection process and ensure timely disbursements Investor Relations & Reporting Prepare and deliver monthly investor updates, quarterly reports, and annual audited financial packages Calculate and execute LP distributions in accordance with partnership waterfall and operating agreement terms Maintain investor portal and ensure all communications meet disclosure standards set forth in partnership agreements Respond to LP inquiries regarding asset performance, capital events, and distributions; provide transparent, timely communication Coordinate with CPA/tax counsel on K-1 preparation, cost segregation studies, and entity-level tax filings Exit Strategy & Recapitalization Initiate formal hold/sell analysis for assets approaching Year 12–15; present recommendations to ownership Commission broker opinions of value (BOVs) and independent appraisals; manage disposition broker relationships Manage data room preparation, PSA negotiation, and closing coordination for asset dispositions Model LP buyout scenarios; negotiate LP redemption agreements and amended operating agreements for GP recapitalization events Coordinate 1031 exchange strategies and entity wind-down with tax counsel upon disposition Oversee debt restructuring at loan maturity; evaluate hold extension, refinance, or payoff strategies on a per-asset basis Property Management Oversight Set leasing targets, rent strategy, and concession approval thresholds in coordination with on-site management Conduct quarterly asset reviews with property management; evaluate KPIs against proforma benchmarks Approve major vendor changes, staffing model adjustments, and management company performance reviews Monitor resident satisfaction and retention trends; assess impact on NOI and long-term asset value Acquisitions & New Development Support Support underwriting of new acquisitions and development opportunities; stress-test proforma assumptions Assist in structuring new LP/GP joint ventures; review operating agreement terms for alignment with ownership strategy Coordinate with development team during lease-up phase; manage lender and investor reporting during construction period Qualifications & Requirements Required 5–8+ years of experience in multifamily asset management, real estate private equity, or a related ownership-side role Demonstrated experience managing a portfolio of 500+ units across multiple properties simultaneously Strong financial modeling proficiency: Excel, Argus, or equivalent; ability to build and maintain asset-level proformas and waterfall models Direct experience with lender reporting, covenant compliance, and debt restructuring (agency, bank, and/or CMBS) Experience preparing and delivering LP/investor reports and managing equity partner relationships Working knowledge of multifamily operating fundamentals: leasing, revenue management, capex planning, and property management software (Yardi, RealPage, or equivalent) Bachelor's degree in Real Estate, Finance, Business, or related field Preferred Experience in a vertically integrated owner/operator environment managing both AM and PM functions Familiarity with LP buyout mechanics, operating agreement waterfalls, and entity-level restructuring Experience with construction loan administration and draw management Exposure to development-stage assets and lease-up reporting Core Competencies Translates operational data into capital strategy; comfortable presenting to lenders and sophisticated investors Financial acumen: Meticulous with financial reporting, covenant compliance, and LP communications Attention to detail: Clear, confident written and verbal communication with ownership, capital partners, and PM team Communication: Thinks and acts like a principal; proactively identifies risks and opportunities Ownership mentality: Manages multiple assets and deadlines simultaneously without dropping the ball on compliance obligations Organizational discipline: #J-18808-Ljbffr