The Asset Manager is responsible for overall project execution for assigned income-producing projects and ensuring Jair Lynch Real Estate Partners consistently meets program, schedule and budget requirements. Project execution will include project underwriting, project positioning, marketing, sales and/or leasing oversight, programming, revenue maximization, and expense management, property condition maintenance, approved capital plans, property manager performance, debt covenant compliance, risk management, and real estate tax assessment appeals, design, construction (as applicable). The Asset Manager will work on multiple income-producing projects simultaneously and must be able to work in a fast-paced, multiple responsibility environment, balancing competing priorities and several project assignments.
Duties & Responsibilities
- Lead the execution of a project’s annual business plan and overall investment goals, including compliance with projections for gross revenue, operating expenses, net operating income, and investment returns.
- Develop market and asset reviews to evaluate the overall operational and financial results for a project, identify potential challenges that threaten project performance, and present recommendations for enhancing value and improving financial returns.
- Oversee capital budget for both routine and value-add projects. Interact with the development team as needed on higher value-add rehab and capital improvement projects.
- Prepare reporting documents for various capital partners, mostly institutional, including quarterly project dashboards with investment performance data and qualitative updates.
- Primary responsibility for completing the negotiations of all project contracts and agreements, including with the property manager, commercial leases, easement agreements, and others specific to the transaction (such as energy contracts), as well as management of third-party consultants—including attorneys and construction consultants (if applicable).
- Conduct periodic site visits and property management reviews.
- Manage periodic project operational performance reviews, including monthly budget reviews and annual budget formulation, risk management, lender/equity, and regulatory compliance, and project business plan adherence.
- Review market, economic, and capital trends and factors impacting the performance of the project, prepare and deliver analysis to investment committee/equity partners, and participate in formulating the long-term disposition and exit strategy for a project.
- Support investment associates in managing debt and equity closings for acquisition, construction, and permanent financing.
- Source relevant, reliable market data to (1) support underwriting and project positioning of existing assets and new opportunities and (2) defend assumptions in internal and external project review sessions.
- Manage periodic interaction with the residents and/or tenant association, as well as with the surrounding neighborhood organizations, as needed.
- Excellent interpersonal, organizational, administrative, and communication skills required.
- Must be attentive to detail, proactive, discreet and dependable.
- Must be able to exercise good judgment, take initiative, function independently, and work in close cooperation with others.
- Must be able to coordinate a variety of tasks simultaneously in a fast-paced environment.
- Must meet deadlines and consistently follow up on details.
- Must be a positive team player and demonstrate professional demeanor and communicate in a clear and polite manner in person and on the phone.
- Must exhibit excellent grammar, spelling, proofreading, and editing skills, and the ability to research information and compile it into a concise briefing.
- Bachelor’s degree in a field related to real estate (i.e., engineering, architecture, construction, finance, law or economics).
- Minimum of seven (7) years’ experience a property manager and/or an asset manager for multifamily properties, particularly those with institutional equity partners, and ancillary familiarity with other asset classes. Candidates with or earning master’s degrees in real estate and similar fields and/or experience in real estate underwriting and acquisition are encouraged to apply even if they do not meet the minimum seven-year work requirement.
- Strong experience in multifamily rental operations, capital projects, and real estate finance.
- Experience with affordable and workforce housing including Low-Income Tax Credits (“LIHTC”) program
- Strong computer skills in Microsoft Outlook, Word, Excel, PowerPoint, Project; and Argus is a plus.
In addition to the opportunities to grow professionally and personally and a positive and supportive environment, JL offers a wide range of benefits including:
- Company matched 401K
- Comprehensive and affordable health plans
- Paid parental leave
- Transportation benefits
- Group life & personal accident insurance.
- Educational assistance
Company Core Values
- Creativity: We strive for innovation by following our curiosity, and encouraging the discussion and implementation of new ideas
- Teamwork: We recognize that we will only succeed if we challenge and support each other.
- Diversity: We foster an inclusive culture that promotes and values the diversity of ideas, perspectives, and backgrounds to create a richer and more creative work environment.
- Excellence: We thoughtfully pursue the continuous improvement of everything we do.
- Portfolio Management
7+ to 10 years
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