Job Title: Asset Manager
The Asset Manager position will oversee a 5M+ square foot Mixed Use real estate portfolio focused on Multifamily, Retail, and Office. The Asset Manager will monitor and lead portfolio performance, working closely with the Director of Portfolio Operations and the Head of Asset Management/Chief Operating Officer at Samuels & Associates. Below is a summary of day to day responsibilities:
- Oversees and communicates effectively to Ownership and the Principal In Charge of Asset Management on overall portfolio performance as well as on key developments of the individual assets including leasing, capital planning, environmental, financing and positioning. Oversees property management team who is monitoring property financial performance, variances and operating/capital projects.
- Communicates effectively to the direct and indirect support teams what the overall goals and objectives of ownership, the property management department and the specific portfolio and property assets are for the assigned portfolio.
- Maintain S&A Portfolio financial budget/forecast and valuation book on a semi-annual basis.
- Evaluate the financial performance against budget and proforma for stabilized, in transition or value-add project
- Review and analyze current debt positions and work with accounting to ensure all assets are meeting required covenants. Work with the CFO on all refinancing events for existing assets.
- Work closely with the capital and debt team on dispositions and acquisitions. This role will be the quarterback for all dispositions and acquisitions.
- Work closely with the property management team to prepare the annual budget and required mid-year forecasts.
- Conduct monthly P&L meetings at the properties with all property staff.
- Perform various asset management analyses as needed for stabilized projects with the aim to improve NOI
- Perform portfolio-level modeling and asset level impact analysis for existing portfolios
- Underwrite, analyze and conduct due diligence for potential value-add projects on stabilized assets.
- Prepare Investor Memorandum, identifying returns and promotes through waterfall structures based on Mark to Market valuation or/and potential sale
- Communicate to ownership the performance and key development attributes including leasing, financing and positioning in writing and verbally
- Review weekly reports issued by residential teams for trends in occupancy and revenue management. Analyze and provide portfolio level recommendations.
- Manage proformas for transitional assets and provide monthly benchmarking to initial underwriting. This includes analyzing the full waterfall impact to all investors. These projects include today: Brynx, Ipic, and will continue to change as new assets come online
- Provide recommendations for value-add opportunities as pro-active solutions and perform various asset management analyses as needed for stabilized projects for value-add opportunities. . (examples: Highgate, Sonder, 1440 Beacon, etc.)
- Manage parking for the S&A portfolio. Review monthly P&L provided by VPNE, review management fee calculation, analyze parking trends, set annual parking rates for transient and monthly and evaluate performance
- Review and monitor the use of Continuum Harvard lot and work with GM on occupancy strategy.
- Assist with annual condo reconciliations at Pierce
- Execute asset management revenue growth projects under the Head of Asset Management. Immediate projects include the Fenway 2.0 Parking Consolidation Project and S&A Maintenance Project. These projects look to leverage the strength of the S&A portfolio to minimize expenses and increase NOI to the portfolio and fees to S&A.