Ft. Lauderdale, FL
Our client is a Florida based family office focused on investments in multifamily properties throughout the Southeast and Southwest. They are long-term holders that pursue deals that show value and cash flow from day one. In existence for nearly 20 years, they began a full real estate strategy 2 years ago. They currently own 2500 units valued at $400M.
The primary job responsibilities include, but are not limited to, the following:
Overall Portfolio Management
- Responsible for the investment performance, reporting and strategic direction for a portfolio of multifamily assets.
- Develop and manage the implementation of asset strategies and operational initiatives aimed at maximizing values in the portfolio.
- Analyze and report on performance, budget variances and significant changes in market and property conditions.
- Coordinate the preparation and presentation of reporting to a variety of stakeholders including all owners and any external investors.
Property-Level Strategic Planning
- Create and oversee the business plan for each property. The business plan should address the overall investment strategy for the property, how it fits into the firm’s portfolio objectives, and strategies to increase property cash flow and/or value.
- Develop annual operating and leasing budgets, and a mid-year reforecast, for each property to include all revenues, expenses, and capital expenditures.
- Create and present detailed financial analyses to support recommendations and decision making for capital expenditures, leasing activities or other strategic initiatives, as needed.
- Actively collaborate with in-house and third-party leasing teams to execute leasing strategy, including analyzing the impact of various leases on asset performance.
- Analyze and monitor capital improvement and renovation programs as required for property maintenance, competitive positioning, or value enhancement.
Acquisitions and Dispositions
- Assist in underwriting new acquisitions.
- Participate in due diligence review of potential acquisitions with particular attention to assumptions regarding operations and operating expenses.
- Review, analyze and recommend property managers and/or leasing agents for new acquisitions.
- Transition acquired properties into the portfolio.
- Prepare financials and due diligence packages for potential dispositions.
Experience and Education
- Undergraduate degree, additional education preferred.
- Minimum of eight years of commercial real estate property/asset management and analytical experience.
- Significant real estate asset management experience with an owner.
Technical Skills and Qualifications Required
- Strong valuation, due diligence, and real estate financial analysis skills.
- Advanced proficiency with Microsoft Excel.
- In-depth understanding of property operations and leasing.
- Market analysis skills to support decisions concerning rent rates, capital improvement programs, leasing strategies and property repositioning.
- Independent, solution-oriented, and creative thinker.
- Strong understanding of commercial real estate concepts and valuation techniques.
- Excellent verbal and written communication, interpersonal, and presentation skills.
- Conscientious, self-directed, and entrepreneurial with the ability to work both independently and collaboratively with teams.
- Excellent organizational and planning skills with sharp attention to detail.
- Ability to work accurately and efficiently with an ability to succeed under tight deadlines.
- Ability to handle multiple projects simultaneously.
- Strong sense of personal motivation and responsibility.