Coit Financial Group
Job Description for: Director of Portfolio Management
Reporting: Position reports to Lisa M. Trapp, Chief Investment Officer
Employee Responsibility: No direct reports
Location: Corporate Office, Roseville, CA or Denver, CO
About Us: For over four decades, Coit Financial Group has been a trusted partner for investors seeking superior returns in multifamily investments. Our founder, R. Ken Coit, has leveraged his extensive experience and market expertise to raise capital and acquire successful multifamily properties throughout the Western United States.
We are seeking an experienced and motivated Director of Portfolio Management to oversee all aspects of transaction execution and investment management. This role is central to maximizing portfolio value by co-leading underwriting, managing debt placement, summarizing due diligence findings for ownership, onboarding new acquisitions with property management partners, streamlining communications with lenders, and optimizing operations of existing assets as the advocate for our investors.
Director of Portfolio Management
Underwriting, Analysis, and Reporting:
· Underwrite potential investments and conduct comprehensive financial analysis to assess risk and potential return.
· Develop and maintain underwriting models to evaluate property performance to proforma and market trends.
· Analyze market data and identify emerging trends to inform strategic acquisitions and dispositions.
· Research, understand, and accurately estimate property taxes and other assessments by locality for new acquisitions to ensure a complete financial picture.
· Utilize financial modeling to compare refinance and sale scenarios and prepare summaries for ownership.
Transactions:
- Oversee the closing and integration of all real estate transactions for Coit Financial Group’s multifamily portfolio, including acquisitions, refinances, exchanges, loan assumptions, loan modifications, and asset sales.
- Develop and maintain strong relationships with servicers, lenders, brokers, sellers, buyers, title companies, attorneys, exchange accommodators, and property managers to ensure an efficient and effective transaction process, ensuring timely execution of deals.
- Communicate with high-net-worth clients as needed to provide timely and accurate information pertaining to refinance or sale processes.
Contract Administration:
Assist Transactions with the following:
- Review key deal terms in Letters of Intent (LOI), Access Agreements (AA), Purchase and Sale Agreements (PSA), loan documents and other transaction-related contracts.
- Contract administration for LOIs, AAs, and PSAs, ensuring all agreements are reviewed by outside counsel.
- Oversight of the closing process, ensuring all documentation is accurate and complete, including liaising with the title company.
- Summarize and communicate debt terms and conditions to property management partners.
- Summarize and communicate impound requirements to property manager partners.
- Summarize and communicate lender required repairs to property management partners.
- Coordinate and finalize true ups with buyer/seller contacts and property management partners.
- Confirm lender repairs completed to Asset Management.
Portfolio Performance Optimization:
- Provide strategic oversight of portfolio assets, with emphasis on loan maturities, potential sales, and properties with cash flow or reserve challenges.
- Drive profitability and protect investor returns by analyzing and implementing value-enhancement strategies.
- Monitor local market trends to identify revenue and NOI growth opportunities.
Assist Asset Management with the following:
- Development and approval of annual budgets and capital plans aligned with business and asset strategies.
- Assess capital expenditure needs and establish long-term improvement plans.
- Oversee third-party consultants on complex capital projects.
- Recommend property-level distribution strategies.
- Oversee inspections and audits of portfolio assets to identify opportunities for operational and financial improvements.
- Special projects such as tax appeals, regulatory agreements, and ad hoc value add analyses.
Operational & Administrative Support:
Coordinate and communicate key information to property management partners:
- Ensuring loan compliance with all lender covenants and requirements.
- Reviewing escrow amounts and oversee that draws are being completed in a timely manner.
- Leading property tax assumptions, assessments, and abatements.
- Auditing escrow account management for property taxes, rate caps, and insurance.
- Communicating loan terms specific to the property, such as required repairs, or lease restrictions e.g., lease lengths, prohibitions on employee units, short-term rentals, or corporate housing.
Oversee communication between property management partners and lenders:
- Ensure required lender repairs are complete on-time, on-budget, and in accordance with terms.
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