Summary:
Macdonald & Co. is proudly partnered with a Nashville-based real estate developer, in order to appoint an Asset Management Associate/Asset Manager to their team.
Position Overview:
The Asset Management Associate will play a key role in supporting senior team members and managing the operational and financial performance of assigned portfolios. The role will involve evaluating reports, overseeing daily operations, and informing the business strategy of the assets within the portfolio. Reporting directly to the Senior Asset Management Associate, this is an in-office role based in Nashville, with up to 40% travel. Relocation assistance is available for qualified candidates.
Key Responsibilities:
Portfolio Operations Management (2,000+ units):
- Conduct regular site visits to ensure onsite teams meet expectations, holding them accountable while fostering trust.
- Oversee incident reports, liaising with insurance agents to mitigate potential losses.
- Lead weekly calls with third-party property managers to assess and adjust operational strategies using internal data.
- Coordinate lender inspections and ensure timely completion of required repairs.
- Track compliance items, ensuring timely execution of deliverables and meeting operational metrics.
Financial Oversight:
- Review monthly financial statements, providing variance explanations and identifying necessary accruals or reclassifications.
- Approve major operational expenses outside of the budget and monitor distributable cash projections.
- Oversee operational cash balances, alerting the Senior Asset Management Associate of any funding needs or potential shortfalls.
- Utilize external and internal reports to monitor market rents and approve rent changes or concessions.
Reporting & Analytics:
- Analyze third-party operational reports for anomalies, trends, or areas requiring further action.
- Create action plans for distressed assets, monitoring their performance to achieve re-stabilization.
- Offer insights during monthly reviews of the Summary of Asset Performance (SOAP) Report and respond to ad hoc reporting requests.
Annual Budgeting & Strategic Planning:
- Participate in capital walks and collaborate with operations teams to review and finalize budgets.
- Develop business plans for assigned portfolios based on budget projections, presenting them for senior approval.
- Assist in the presentation of final budgets and business plans to the Director of Asset Management.
Investor Relations:
- Contribute to the review of quarterly investor reports, including both data validation and narrative writing.
- Collaborate with the Senior Asset Management Associate during investor reporting reviews.
Qualifications & Skills:
- Bachelor's degree required, preference for Real Estate, Finance, or Business majors.
- 5+ years of multifamily operational experience preferred, affordable housing operations experience a plus.
- Valid driver's license and willingness to travel to portfolio properties.
- Proficiency in Excel, with the ability to create new reporting templates.
- Strong analytical skills for evaluating income statements and identifying trends.
- Excellent communication skills, both verbal and written, particularly for investor reporting.
- Strong alignment with company values and ability to represent them in day-to-day work.