Summary of Position
As part of the Investments team, the Manager of Asset Management will have an instrumental role in analyzing, monitoring and implementing business plans for LMC’s portfolio of Class A multifamily communities. Responsibilities will include developing lease-up strategies, working with LMC Living (LMC’s Property Management arm) and the Development teams to establish annual budgets, business plan execution, investor reporting and assisting with the disposition of communities. The Manager of Asset Management will report to and consult with senior management.
Principal Duties and Responsibilities
- Collaborate with leadership teams of Investments, Development and LMC Living to analyze and make recommendations on proposed budgets to optimize property performance.
- Review community level annual budgets and model different lease-up strategies to compare and recommend prior to execution.
- Create and evaluate financial reporting related to property budgets, variances and benchmarking to competitive set and original underwriting.
- Collaborate with Property Management, Development and Accounting to ensure monthly, quarterly and annual reporting requirements are met for lenders and investors.
- Develop a thorough familiarity with assigned communities and markets by conducting in-depth market and portfolio analyses, understanding industry trends, participate in leasing update calls, partner with LMC Living, and conduct on-site visits.
- Design, develop, and implement real estate and other investment summaries with recommendations to senior management.
Education and Experience Requirements
- Bachelor’s degree required, preferably in Finance, Real Estate, and/or Economics
- 7-10 years minimum experience in commercial real estate investment with 5+ years in multifamily asset management
- Experience with multifamily lease-ups
- Excellent verbal, writing and interpersonal communication skills required
- Strong quantitative analysis and advanced Excel skills
- Able to work under tight time constraints and extended hours as required
- Able to travel weekly
This is primarily a sedentary office position which requires the Asset Manager ability to operate computer equipment, speak, hear, bend, stoop, reach, lift, and move and carry up to 25 lbs. Finger dexterity required to operate a computer keyboard, a calculator, and telephone equipment. May operate a motor vehicle. Position may require the ability to work in excess of eight (8) hours per day.
- Arrive to work on time.
- Follow directions from a supervisor.
- Interact well with co-workers.
- Understand and follow posted work rules and procedures.
- Accept constructive criticism.
- Must be willing to work in an office.
- Associates work in an office environment, but also may have frequent exposure to outside elements where temperature, weather, odors, and/or landscape may be unpleasant and/or hazardous.
This description outlines the basic responsibilities and requirements for the position noted. This is not a comprehensive listing of all job duties of the Associates. Duties, responsibilities and activities may change at any time with or without notice.