Position:
Asset Manager/Director, Asset Management
Location:
Beverly Hills, CA
Job Id:
162
# of Openings:
1
Established in 2007, Post Real Estate Group ("PREG") is a vertically integrated real estate investment firm focused predominantly on the acquisition and ownership of apartment communities throughout the country. Post has acquired in excess of $3.5 Billion of properties encompassing more than 33,000 units across 15 states and over 50 cities
PREG currently owns an apartment portfolio of approximately 25,000 units across 15 states with a predominant focus spanning California to Texas. Headquartered in Beverly Hills, CA, PREG also maintains operations in Dallas, TX.
Vertical operations include property management, construction services as well as ancillary business services divisions. PREG’s specialty is in the creation and execution of complex affordable housing transactions in partnership with governmental agencies and non-profit organizations.
In addition to multifamily, the company also owns a small portfolio of industrial buildings and mobile home parks.
Job Description:
Post Investment Group and its affiliated entities ("Post") is in expansion mode, and will be looking for qualified asset managers to join this growing team.
Responsibilities:
* Evaluate overall performance to assist in strategic business planning. Assist Head of Asset Management in establishing and enforcing benchmarks, guidelines, and policies.
* Perform monthly financial reviews which include creating strategies to enhance the performance of the asset, exceed budgeted and Underwritten cashflow and do monthly reclasses and accruals for clean financial statements.
* Review and improve property operations including but not limited to leasing, marketing strategy/spend, expense analysis, staffing, maintenance efficiency, and property condition.
* Negotiate major vendor contracts and pursue portfolio wide expense reductions through vendor bidding
* Work collaboratively with property management teams to identify challenges and execute timely and effective solutions. This would include management of budgets, staffing, capex, and other property programs.
* Assist in renovation execution (alongside renovation team), including initial planning, working with general contractor on delivery timelines, and monitoring impact on leasing, rental rates, etc.
* Conduct regular site visits as needed to include but not limited to review of: curb appeal, status of capex projects, common area and vacant unit inspections, and personnel issues.
* Problem solve property and portfolio level issues through research, analysis and implementation
* Assist in conducting due diligence and financial modeling for new acquisitions and dispositions
* Oversee and mentor Associates/Analysts in order to give them the insight and experience to grow to be asset managers within the company.
* Oversee and ensure compliance with all regulatory programs associated with individual properties within assigned portfolio.
Qualifications:
* Bachelor's degree (BA/BS) from a four-year college or university (prefer science, real estate, business or finance)
* Minimum of 7 years experience in hands on multifamily asset management and/or property management
* Highly proficient in Microsoft Excel and Microsoft Suite Products
* Familiarity with Yardi and Entrata Systems preferred.
* An analytical approach with a results oriented mindset
* Travel to properties will be required
Other:
This position will report to the Head of Asset Management. It will offer the qualified candidate with competitive base pay along with performance bonus and benefits. Flexible hours available but Hybrid work (3 - 4 days in office/ field). Multi-State travel required.
* Produce roll-up and exception reporting models to help identify areas in need of performance improvement.
* Monitor and analyze specified market conditions, using the area’s internal and external financial and economic data.
* Monitor and analyze property operating financial metrics to help guide the benchmark underwriting assumptions for existing company portfolio and future transactions.
* Assist in monitoring property valuations and identifying opportune moments to sell / refinance current property.
* Pay Range: $140,000 - $190,000 depending on experience with opportunity for competitive bonus.
* Benefit package includes medical, dental, vision, Life/AD&D, 401K with company match, paid time off, and holidays.
The Company is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status
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