Asset Manager

$120,000 - $130,000/Yr

Clear Capital - Irvine, CA

Full-time - Mid Level

Irvine, CA

Professional, Scientific, and Technical Services

About the position

Clear Capital, LLC is looking for an intelligent, motivated, detail-oriented individual to work full-time as an Asset Manager in our Irvine office. This position will be responsible for direct oversight of all aspects of asset management for a broad portfolio of our high-quality multifamily assets in California. The Asset Manager is tasked with driving investment strategy based on company models, value creation, direct oversight of property operations, and capital deployment at each asset. The primary responsibilities include business plan preparation, presentation, and execution, developing monthly cash flow and investment return projections, internal and external reporting, market research, capital plan oversight, and involvement with all new transactions within the state of California. This individual will have regular contact with senior management, other asset managers, transactions, property operating teams, and external partners, including vendors, county officials, property management partners, and contractors.

Responsibilities

• Monitor overall portfolio performance: NOI, cash flow, asset values, and progress towards achieving asset strategies
• Monitor portfolio to ensure achievement of targeted financial results per approved annual asset strategy
• Participate in quarterly and monthly and weekly operations reviews with property management personnel
• Report on and develop strategies for property operations to maximize asset values
• Direct revenue-enhancing and expense containment initiatives with third-party managers, while monitoring resident turnover and satisfaction indicators, and identifying opportunities to drive operational excellence within the communities to maximize performance
• Prepare periodic internal reports and respond to information requests from senior management
• Ensure that the senior management team is aware of significant market-level issues and opportunities that will materially impact the business plan and asset strategy
• Proactively establish and maintain visibility and relationships among key industry players including establishing a network with peers, competitors, and vendors
• Thoroughly understand the dynamics of the portfolio, including market characteristics, supply/demand trends, and participants
• Support in the vetting, underwriting, due diligence investigation, and onboarding of new portfolio acquisitions
• Develop and implement best practices as needed
• Measure and monitor asset performance against a variety of benchmarks including company objectives, Pro-forma metrics, budget and market comparables, return on invested capital, etc.
• Perform regular market visits and property inspections for assigned assets; travel required
• Develop and foster productive working relationships with property management companies, vendors, and industry peers
• Work with internal peers to improve internal and external communication regarding portfolio assets, data management, and workflow process improvements
• Prepare, maintain, and deliver monthly, quarterly, and annual reporting pertaining to asset performance in relation to each asset's strategic plan. Make strategic recommendations as needed to improve and maximize asset performance
• Analyze and report updated valuations based on updated underwriting on a quarterly, semi-annual and annual basis
• Work closely with property managers to improve operating efficiency and to control operating expenditures
• Evaluate and make recommendations and negotiate potential lease terms, concessions, and specials for new and renewing tenants
• Assess and manage risks associated with current assets
• Work to maximize returns and minimize losses on assets and investments
• Stay abreast of market trends and patterns and adjust asset strategies accordingly
• Travel to property sites as needed to evaluate performance and ensure accountability of on-site management teams
• Perform other duties as assigned

Requirements

• Bachelor's Degree or equivalent work experience in related field preferred
• Minimum of 7 years of hands-on commercial real estate experience preferred in one or more of the following disciplines: Asset Management, Acquisitions, Underwriting, Appraisal, Financial Analysis or Property Management
• Detail-oriented and organized
• Excellent written and verbal communication skills
• Ability to interact effectively with all team members and external stakeholders
• Strong financial background with knowledge of real estate and real estate proformas
• Experience and passion for working with quality multifamily investments
• Broad understanding of the operational and investment fundamentals of institutional real estate
• Highly computer literate and proficient in Microsoft Suite and Yardi
• Excellent project management skills
• Analytically and strategically minded
• Results driven and growth oriented
• Ability to think and act strategically with experience analyzing investment decisions
• Strong negotiation, analytical and interpersonal skills are essential
• Ability to be self-motivated with the ability to work independently are essential
• Background in reviewing, analyzing, and sensitizing financial reports and communicating results
• Ability to make recommendations to senior management in an objective and logical manner
• Experience evaluating competitive market information

Benefits

• 401(k)
• 401(k) matching
• Dental insurance
• Flexible schedule
• Health insurance
• Life insurance
• Paid time off
• Vision insurance