Job Details
Description
Summary:
The Asset Manager, Multifamily oversees all aspects of assigned multifamily investments in Washington, Oregon, and other regions as required, reporting directly to the Managing Director of Asset Management. This role requires familiarity with these markets, experience managing renovations, and strong skills in lease-up and operations for Class A and B multifamily properties.
The Asset Manager will work closely with the third-party management teams to identify, recommend, and execute strategies to achieve asset-specific investment objectives. This role is responsible for maintaining excellent working relationships with Kennedy Wilson peers, all third-party team members, and partners.
Company
Founded in 1977, Kennedy Wilson is a global real estate investment company headquartered in Beverly Hills, CA with 19 global offices. We own, operate and invest in real estate on our own and through our investment management platform. We focus on multifamily, office and industrial properties located in the Western United States, U.K, and Ireland. For further information on Kennedy Wilson, please visit www.kennedywilson.com.
Key Responsibilities
- Complete monthly review of financials and narratives. Review weekly project data including recaps, traffic reports, and delinquencies. Use the information to focus performance and apply strategies to meet goals and objectives.
- Work closely with property managers to establish and enforce benchmarks, guidelines, and policies to clearly reinforce the business plan.
- Conduct site visits regularly including review of; curb appeal, renovation projects, asset preservation items, marketing collateral, expense approvals, budget variances, and maintaining localized market knowledge.
- Direct management with valid and reliable information for phases of planning including budgets, staffing, capital improvements, and other programs.
- Maintenance of a collegial working relationship with all third-party providers to enhance future projects while representing Kennedy Wilson/Partner interests.
- Effectively and knowledgeably present information and respond to questions from groups of executives, investors, lenders, and partners.
- Management of all aspects of renovation projects, including the ability to Identify the appropriate scope of work for common areas, apartment interiors and other spaces within the community to be consistent with the targeted re-positioning of the property within the market/submarket.
- Select and engage design teams, architects, and consultants in pursuit of the best renovation project management.
- Prepare and track renovation budgets to ensure compliance with over budget and re-allocation requests. Prepare and track lease-up goals and reporting to ensure compliance with initial business strategy.
- Prepare financial analysis and 10-year capital budgets accurately to reflect overall cash needs of the asset.
- Lead vendors, contractors, and construction management teams to meet deadlines for both recently acquired and redevelopment communities.
- Troubleshoot execution challenges, including leasing issues, rent performance, excess turn times, etc.
- Prepare items for due diligence and acquisitions including transition plans, market valuations, and overall re-positioning plans.
- The person will be expected to add significant value to the team as well as bring leadership, strategic thinking, and mentorship.
Experience
- Bachelor’s degree
- A minimum of 7 years’ experience of in-depth asset management or property management experience in multifamily real estate. The ideal candidate has a background in managing various multifamily assets through renovation (clubhouse re-builds, interior renovations, amenity upgrades, washer/dryer additions, etc.) and full lease up and has directed several property managements teams with a proven record of accomplishment.
Skills
- Demonstrated leadership and teamwork skills. Experienced manager of internal and external teams, motivating others through influence and working with strong personalities. Kennedy Wilson is a highly collaborative environment where the Asset Manager drives and owns the process but must work collaboratively throughout the process with numerous other internal teams both in the region and headquarters, including design, construction, property management, and others.
- He or she is also an independent, resourceful team player who can work autonomously and knows when to ask for support when needed.
- Project Management Skills: Has shepherded multiple renovation projects through the entire process, from concept to turnover to Property Management.
- Financial Acumen/Analytical Skills: An investment mindset with a thorough understanding of financial calculations/metrics and analytical skills. Must be well-versed in project proformas and understanding deals, and articulate, both orally and in written form, the case for a specific project.
- Communication and Interpersonal Sk