Description
THE COMPANY
Standard Property Company, Inc. (“Standard”) is a private, opportunistic investment firm made up of four different divisions: Standard Capital, Exponent Energy, Global Guaranty Insurance and Standard Communities. The Standard Communities division was founded to create, preserve, and improve workforce housing nationwide. This division is committed to investing in communities, both physical and social, to improve quality of life and provide residents with stability and opportunities for upward mobility. This division works to ensure that high-quality housing, in communities that help residents achieve success, is accessible to those who need it most.
Standard currently invests in multifamily real estate in primary U.S. markets across five major geographic locations: New York, San Francisco Bay Area, Southern California, Chicago and Washington, DC metro area. The company’s current portfolio is over 7,500 residential units, 3,500 of which are affordable. Since 2010, Standard has completed more than $750mm of property and distressed loan acquisitions, including 13 separate LIHTC transactions, consisting of nearly 3,500 units, and raising approximately $350mm in debt and $200mm in LIHTC equity. Their 40+ person team includes Construction, Asset Management, Underwriting and back office professionals.
Founded in 2008, Standard has grown from its corporate office in Los Angeles to operating offices across the U.S., including New York, Chicago, Orange County, Washington, D.C. and Charleston, South Carolina.
Standard’s success comes from its opportunistic attitude, aggressive but calculated approach to risk, creative and nimble underwriting, and its ability to execute deals quickly. The company expects to invest $250mm this year and is well on its way to meeting that goal, having completed ten deals valued at $175mm.
The culture of the company is entrepreneurial and fast-moving. Management expects each team member to be autonomous and high performing but provides the support and resources necessary for each individual to be successful in his or her role.
THE POSITION
Reporting to the Director of Construction, the Portfolio Facilities Manager will be responsible for preparing and implementing ongoing CapEx budgets at the stabilized assets across Standard Communities portfolio. The Portfolio Facilities Manager will work closely with the individual site teams and regional maintenance staff members to determine the current and future needs for each property. They will also be expected to work with the Construction Managers assigned to the rehab projects to coordinate the transition of the properties to the stabilized portfolio upon renovation completion and understand the scope of work that was completed as part of the renovation project. Other responsibilities will include monitoring the Company’s Fire & Life Safety reporting procedure which requires the individual property teams to perform scheduled inspections of all systems Fire & Life Safety related along with supervising the HUD REAC inspection process at all applicable properties. The Portfolio Facilities Manager would also be used as the point person for any future regional and portfolio-wide initiatives related to their field of work. The Portfolio Facilities Manager will be expected to travel to all properties included in the respective region at least once on an annual basis.
RESPONSIBILITIES
- Prepare annual CapEx budgets for stabilized assets to be implemented by the property teams.
- Review CapEx budgets with the Construction and Asset Management teams associated with the property.
- Assist the Construction Managers with the transition of recently completed renovation projects into the stabilized portfolio.
- Supervise the CapEx improvements, including collecting and reviewing vendor proposals, workmanship quality control and final acceptance of completed work.
- Confirm that the required Fire & Life Safety inspections are being properly scheduled and completed by property management and any known deficiencies are being addressed in a timely fashion.
- Perform Mock-REAC inspections at imminent properties, review the findings and supervise the completion of any associated corrective work.
QUALIFICATIONS
Education and Experience
- Bachelor’s degree preferred; emphasis on Engineering, Architecture or Construction Management.
- At least seven years of experience in multifamily real estate, focused on construction, architecture, renovation, engineering, asset management, or related discipline.
Skills and Abilities
- "Making the call": Strong problem solving, investigating, and critical judgment skills for all proposed scopes of work.
- Ability to correlate proposed project scopes of work with asset lifespan/durability/detriment.
- Able to think like an owner.
- Able to read, understand and value engineer construction documents/contractor scopes of work.
- Able to vet contractor proposals/scopes of work (including but not limited to: waterproofing, roofing, painting, flooring, fire/life safety, mechanical, electrical, plumbing, façade, elevator).
- Knowledge of tools, materials, means and methods used in occupied renovation projects on multifamily residential properties.
- Proficiency in Microsoft Excel and Word is required.
Personal Attributes
- Highly accountable: able to take ownership, meet deadlines, follow-through.
- Highly motivated self-starter and independent worker.
- Ability to manage ‘up’ and provide Senior Management with salient progress reporting.
- Proven ability to excel in a fast-paced environment with multiple projects and deadlines.
- Strong organizational skills.
- Acknowledges and learns from mistakes and challenges.
- Outstanding written and oral communications skills.
- Strong work ethic and attention to detail.
- Able to work collaboratively in a small team environment; can “roll up his/her sleeves” and pitch in where necessary within the organization.
- High integrity.
- Sense of humor.
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