Director - Asset Management, Texas

Description

• Take active role in creation of annual operating and capital budgets. Collaborate with teams and impart property and market knowledge to create comprehensive budgets that meet targeted investment strategies and objectives.
• Incorporate a value-oriented approach to each asset by analyzing revenue opportunities and providing direction supported by financial models to justify major capital investments and financial decisions.
• Become an expert on assigned markets through on-site visits, in-depth analysis of industry trends and economic drivers, and maintenance of industry network then collaborate with executives to implement adjustments to property strategy to account for market shifts.
• Identify and oversee repositioning opportunities. Monitor market trends for opportunities to add value through renovation, expansion or repositioning of the assets and make recommendations accordingly. Supervise scope development, including opining on rent premiums, and ongoing implementation to ensure ROI expectations are consistently met.
• Lead the Capital Investment and the Renovation Investment Strategy of each community.
• Participate in evaluating and make recommendations for the implementation of various new products and services intended to grow ancillary income, reduce operating expenses, or create operational efficiencies.
• Identify opportunities, initiatives and projects to continue to drive performance of the larger asset management department.
• Conduct frequent physical inspections of each property in assigned portfolio to develop a thorough understanding of each property and its challenges, assess implementation of strategic initiatives, assess operational and management performance, and identify opportunities for improvement and communicate those opportunities among relevant internal and external teams.
• In collaboration with the CapEx team, assess the capital needs/expenditures by property and work with capital investment team to develop a long-term capital plan for the portfolio that corresponds to stated strategy.
• Forge strong relationships with operating partners and can work through challenges and communicate concerns up internal and external chains of command when expectations are not being met.
• Support Blackstone on acquisition underwriting, providing market and leasing assumptions and participating in other due diligence activities, as necessary.
• Mentor and develop analysts, leads and managers in the department and across supporting teams.
• Maintain an extensive network of industry relationships to say current on regional and local market trends.
• Leverage monthly and quarterly financial statements, business intelligence software, and a host of analytical tools to identify property and portfolio underperformance to budget and/or market benchmarks and collaborate with the relevant team members to correct issues.

Requirements

• Highly motivated, energetic, and organized
• Ability to understand and interpret market trends, third party market reports, and operator market competitor surveys.
• Familiarity with the general principles of real estate, including operations and analysis, budgeting, financial reporting, cash management and general accounting.
• Ability to define, develop, and execute asset management strategy, by leveraging and managing 3rd party property management teams.
• 20-25% travel required.
• Strong understanding of general construction and redevelopment terminology and understanding of standard multifamily capital enhancement/improvement projects.
• 7+ years of acquisition or asset management experience for a regional portfolio of 5,000 – 7,000+ units, with mixed-use retail, and in multiple MSA’s, preferably with experience in Texas.
• Strong self-starter that thrives in a fast paced, dynamic environment with multiple and evolving priorities and deadlines.
• An excellent team player who enjoys working with others and has strong interpersonal skills.
• Familiarity with investment due diligence process along with the ability to provide local market leasing assumptions and competitive intelligence.
• Effective interpersonal, communication and listening skills necessary to form strong working relationships with all levels of management and throughout the various cross functional teams.
• With a thorough knowledge of market performance and real estate operations, collaborate with portfolio strategy, investments, marketing, revenue management, accounting, financial planning & analysis, and capital investment departments to formulate and execute strategies intended to maximize portfolio value and report performance results to leadership.
• Bachelor’s degree, preferably in Business, Finance, Real Estate, or other relevant area.
• Ability to communicate complex issues effectively and professionally, both verbally and in writing.

Benefits

Training + Development

Interview process

Visa Sponsorship

Security clearance