Asset Manager, Asset Management

About the role

Security Properties is seeking an Asset Manager to join the Asset Management Group. This role is part of a team responsible for the business and investment performance of the company's portfolio of conventional multifamily properties. The Asset Manager will oversee a property portfolio in Seattle and one other geographic market (Arizona, Colorado, Nevada, Tennessee, Texas, or another).

Responsibilities

• Monitor and evaluate financial operating results within assigned portfolio.
• Complete monthly review of financials and narratives, review weekly project data including leasing reports, traffic reports, and delinquencies.
• Ensure that each asset meets acquisition proforma objectives, capital improvement deadlines, and investor goals as the property is transitioned into Security Properties' stabilized portfolio.
• Work collaboratively with property management on budgets, staffing, capital improvements, and other programs.
• Identify challenges and execute timely and effective solutions.
• Lead the renovation planning/execution of assets within the portfolio, including the development of targeted rent levels, the appropriate scope of work, operational plans and execution strategies/tactics.
• Troubleshoot execution challenges, including leasing issues, rent performance, excess turn times, etc.
• Make regular visits to assigned market to maintain a strong presence with Regional Managers, local brokers and investors in each city.
• Review curb appeal, status of capital improvement projects, model inspections, expense approvals, and personnel issues.
• Work closely with Regional Managers to ensure the right people are assigned to each asset and make recommendations for changes, as needed, on a timely basis.
• Manage the annual budget review and approval process for the assigned portfolio.
• Establish long-term and short-term initiatives to maximize investment returns.
• Evaluate property performance to assist in strategic business planning.
• Develop and enforce benchmarks, guidelines, and policies.
• Oversee tax appeal issues and maintain regulatory and lender compliance.
• Oversee accurate and regular reporting to groups of executives, investors, lenders, and partners.
• Cultivate positive relationships with investors by responding to questions in a timely manner and leading periodic site tours.
• Provide support for due diligence and acquisitions, including underwriting, advising on project proforma, creating initial operating budgets.

Requirements

Essential qualifications include:

• Minimum of 5 years of experience in relevant multifamily redevelopment, asset management, or property management.
• Strong knowledge of one of the Western Region real estate markets, ideally Seattle, or another market with similar rental dynamics.
• Demonstrated experience managing a portfolio of at least 2,500 apartment units.

Qualifications

Desired qualifications include:

• Ability to thrive in a rapidly growing, dynamic, and collaborative environment.
• Strong analytical and problem-solving skills, with demonstrated track record of providing creative and innovative solutions to real-time challenges.
• Intuitive and detailed sense of the dynamics, risks, and structured financings of each transaction.
• Proficiency with Word and Excel.
• Strong presentation, negotiation and communication skills.
• Sound decision making ability with the experience to balance consensus against authority as appropriate.
• Excellent organizational and time management skills.
• The ability to manage multiple projects involving time sensitive, detail-oriented work, consistently meeting deadlines amid changing priorities.
• The ability to travel to assigned markets as needed (currently estimated to be 3-4 days/month).

Benefits

Amazing benefits include:

• 401(k) matching.
• Tuition Reimbursement.
• Medical, Dental, and Vision coverage.
• Bonus opportunities.