(Aliso Viejo, CA)
Summary of Position
As part of the Investments team, the Senior Associate will have a leading role in formulating 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 team) and the Development teams to establish annual budgets, business plan executing, investor reporting, and assisting with the disposition of communities. The Senior Associate will report to and consult with senior management and play a key role in communicating with investors and lenders.
Principal Duties and Responsibilities
- Collaborating with leadership teams of Investments, Development, and LMC Living to formulate and execute strategies to maximize community and portfolio value through knowledge of real estate markets and leasing strategy for communities in lease-up and once stabilized.
- Developing thorough familiarity with each community through participation on leasing update calls, collaboration with LMC Living, on-site visits, etc. and initiating changes in leasing/marketing strategy in order to maximize value, if necessary.
- Reviewing and approving community level annual budgets.
- Providing senior management with financial reporting related to property budgets, variances, and benchmarking to competitive set and original underwriting.
- Coordination with Property Management, Development and Accounting to ensure monthly, quarterly and annual reporting requirements are met for lenders and investors.
- Developing a working understanding of all documents relevant to the development, ownership, operations and financing of the communities, including joint venture, loan and management agreements.
- Developing a thorough familiarity with assigned communities and markets, conducing in-depth market and portfolio analyses and understanding industry trends.
- Assisting in the development and presentation of real estate and other investment summaries with recommendations to senior management for approval.
Education and Experience Requirements
- Bachelor’s degree, preferably in Finance, Accounting, Mathematics or Real Estate
- 3-5 years minimum experience in multifamily real estate investment.
- 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 are required.
- Able to travel regularly.
This is primarily a sedentary office position which requires the Manager of Asset Management to have the ability to operate computer equipment, speak, hear, bend, stoop, reach, lift, and move and carry up to 25 lbs. Finger dexterity is necessary.
- 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
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.