Macdonald & Company are pleased to have been exclusively retained by a Family Office in Austin, TX to find and appoint an SVP of Asset Management for their Multifamily portfolio.
The role is a pivotal one for the group as they look to bring an SVP of Asset Management onboard to run their Multifamily portfolio from an operational & financial standpoint, looking at growing and maximizing the portfolio through strategic decision making and acquisition of new assets.
Responsibilities - Asset Management Function
Manage Capital Markets Execution
- Develop views and manage capital markets execution, including refinance, loan modifications and disposition options
- Source new lender relationships
- Manage existing lender relationships, including providing lender updates and reporting (in conjunction with in‐house accounting team)
- Track and monitor key loan metrics, critical dates and covenants
Leasing
- Work with in‐house leasing Regional Manager to manage rent setting and strategy on new leases and renewals
- Proactively assess rents against pro forma, budget and the competitive set
Cost Tracking of Capital Projects
- Work with project management team to effectively price, model, and track ROI on capital projects
Business Plan Execution/ Maximize Property Level Performance
- Run weekly meetings for each property to oversee a “tactical plan” and coordinate goals and deliverables
- Review monthly financials in conjunction with the Regional Manager and each property manager to track and address negative variances
- Spearhead best practices in leasing, property operations, cash management, and capex management
Portfolio Analytics
- Create and manage quarterly, semi‐annual and annual internal reporting to the Board on a portfolio level
- Maintain asset‐level financial models
- Provide benchmarking tools including fair market value and trailing yield analysis
Acquisitions Function
Sourcing
- Create and maintain a pipeline of new acquisitions, generating deal leads through the local broker networks as well as off‐market opportunities
- Present new investment opportunities to the Board
Underwriting
- Create dynamic cash flow projection models with respect to an investment across multiple asset types, but with a focus on multifamily
Due Diligence
- Manage all aspects of the due diligence process, working to coordinate in‐ house leasing, construction, and legal teams to review third party reports, title/ survey, historical financials, leases, market research and supply/ demand dynamics.
Requirements:
- Minimum 10 years of experience in real estate asset management, acquisitions, and/or development, ideally having seen the full lifecycle of assets
- Strong background in Multifamily but broad asset management expertise with an ability to oversee multiple property types
- Proficiency in Excel, and Argus preferred