Rose Community Management
Senior Asset Manager - Chicago
Rose Community Management, Chicago, Illinois, United States, 60290
Jonathan Rose Companies is one of the countrys leading developers and investors in sustainable, affordable, and mixed-income multifamily real estate. The companys mission is to strengthen communities of opportunity by developing innovative real estate solutions that build value, enhance resilience, and cultivate well-being.
In 2017, Rose was the top acquirer of affordable housing in the country, and with more than 15,000 units owned, it is the 10th largest owner.
Since its founding in 1989, the firm has been recognized for design excellence and for creating successful models that enhance the ability of our residents, and the communities they live in, to thrive. The firms innovative work has modeled widely duplicated solutions and won awards from a wide range of notable organizations, including the Urban Land Institute, the National Trust for Historic Preservation, the American Planning Association, the American Institute of Architects, and many others.
Overview
This Chicago based Senior Asset Manager role is responsible for ensuring that the properties and its respective portfolio meet Rose's financial, social and environmental goals. Drafts the property business plan based on the initial acquisition goals and updates the plan no less than annually to reflect property performance and market conditions. Reviews property financials with property management monthly and reports quarterly to investors and executive team. Advises the property manager on all aspects of the properties including annual budgeting, capital improvement planning, physical property conditions, leasing and marketing. The Senior Asset Managers overall purpose is to create value across the portfolio while providing quality, green housing for our residents. Thinks and Act like an Owner. Thinks strategically and assesses business decisions specific to the properties as well as wholistically across the portfolio. Appropriately weighs short terms decisions with longer term goals. Takes initiative to seek new responsibilities. The pay range for this position is $170-190k based upon factors including but not limited to related experience and time in the industry. Responsibilities
FINANCIAL OVERSIGHT Provides financial oversight of the property in context of the overall portfolio, including drafting the business plan, provide guidance on operating budgets and 5-year capex plans to meet or exceed business plan goals, monitoring the monthly financials to assess performance against budget. Acts swiftly to address budget variances. Fully understands the economics of each deal and continuously seeks to optimize value. REPORTING Drafts timely, detailed and accurate reporting by synthesizing relevant information and extracting data from several sources for both internal use and external investor reporting on a quarterly and annual basis. Meets or exceeds all deadlines. Produces effective and accurate reporting that requires only strategic input from Senior Management. IMPACT Coordinates with sustainability team to analyze and continuously improve environmental performance. Maintains responsibility for the operating expenses of the property. Coordinates with Community of Opportunity team to encourage and support optimal social programming. Embraces and values the company mission. LIAISON Works as the liaison between ownership and property management. Ensures property management is operating to the budget and is responsible for the property managers' performance. Ensures all deadlines are met and necessary approvals are needed when properties are transferred from one management company to another. Resolves challenges with strategic input from Senior Management. PROPERTY OPERATIONS Visits stabilized properties no less than annually and transitional properties no less than quarterly. Assesses the general physical condition of the building systems, housekeeping and grounds. Confirms effectiveness and efficiency of property site staff. Provides oversight for overall execution, including scope, design, budget and on-time completion of capital improvements in conjunction with the assigned project management staff. REVENUE & COMPLIANCE Monitors the leasing and marketing of the property. Provides guidance to property management on occupancy issues and advises on changes to rental rates and offered concessions. Tracks and executes programmatic renewals, mark ups and compliance. Maintains strong command of the company brand. REFINANCING & DISPOSITION Leads the refinancing and disposition of properties and is responsible for the successful completion of the transaction. Drafts sales /refinance analyses in conjunction with the asset management analyst and is responsible for making the recommendation to the investment committee. Takes the lead on identifying lenders, brokers or other third parties required in the transaction and takes the lead on related communication. LEADERSHIP Contributes to the Asset Management team by providing mentorship to analysts and other team members, and completes portfolio, team and / or organizational initiatives that result in widespread positive results. Represents the company well publicly, embraces its mission and effectively communicates to the communities in which we develop and within the real estate industry. RISK MANAGEMENT Determines how to proceed during crisis management in partnership with the property. Conveys the issues in real time to Senior Management and to executive team and investors as appropriate. Identifies opportunities to lower risk profile of assets in portfolio. Confers with Senior Management on public relations and has the capacity to advise the team on such matters. Work Experience Requirements Ability to discuss and work closely with outside professionals and Company leadership required. Advanced communication, public speaking and presentation skills required. Advanced Microsoft Suite skills required. Ability to build and maintain relationships required. Yardi or Real Page experience required, Power BI experience a plus. Advanced financial acumen required. Travel Ability to travel up to 20% of the time. Education Requirements and/or Years of Experience Bachelors Degree in Finance, Real Estate or other related discipline required. Masters Degree in Finance, Business or Real Estate a plus. 7-9 years of experience in affordable asset management, real estate and HUD or State Housing Authority required. Rose Companies is committed in policy and practice to providing equal employment opportunities for all applicants and employees, based upon their training, experience, and overall qualifications. Consistent with this commitment, discrimination against an applicant or employee based upon the individuals race, color, creed, religion, sex, gender, age, national origin, ancestry, citizenship status, marital or familial status, sexual orientation, gender identity, gender expression, disability, military status, protected veteran status, genetic information, or any other condition or characteristic protected by law is strictly prohibited. Equal Opportunity Employer. This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor. #J-18808-Ljbffr
This Chicago based Senior Asset Manager role is responsible for ensuring that the properties and its respective portfolio meet Rose's financial, social and environmental goals. Drafts the property business plan based on the initial acquisition goals and updates the plan no less than annually to reflect property performance and market conditions. Reviews property financials with property management monthly and reports quarterly to investors and executive team. Advises the property manager on all aspects of the properties including annual budgeting, capital improvement planning, physical property conditions, leasing and marketing. The Senior Asset Managers overall purpose is to create value across the portfolio while providing quality, green housing for our residents. Thinks and Act like an Owner. Thinks strategically and assesses business decisions specific to the properties as well as wholistically across the portfolio. Appropriately weighs short terms decisions with longer term goals. Takes initiative to seek new responsibilities. The pay range for this position is $170-190k based upon factors including but not limited to related experience and time in the industry. Responsibilities
FINANCIAL OVERSIGHT Provides financial oversight of the property in context of the overall portfolio, including drafting the business plan, provide guidance on operating budgets and 5-year capex plans to meet or exceed business plan goals, monitoring the monthly financials to assess performance against budget. Acts swiftly to address budget variances. Fully understands the economics of each deal and continuously seeks to optimize value. REPORTING Drafts timely, detailed and accurate reporting by synthesizing relevant information and extracting data from several sources for both internal use and external investor reporting on a quarterly and annual basis. Meets or exceeds all deadlines. Produces effective and accurate reporting that requires only strategic input from Senior Management. IMPACT Coordinates with sustainability team to analyze and continuously improve environmental performance. Maintains responsibility for the operating expenses of the property. Coordinates with Community of Opportunity team to encourage and support optimal social programming. Embraces and values the company mission. LIAISON Works as the liaison between ownership and property management. Ensures property management is operating to the budget and is responsible for the property managers' performance. Ensures all deadlines are met and necessary approvals are needed when properties are transferred from one management company to another. Resolves challenges with strategic input from Senior Management. PROPERTY OPERATIONS Visits stabilized properties no less than annually and transitional properties no less than quarterly. Assesses the general physical condition of the building systems, housekeeping and grounds. Confirms effectiveness and efficiency of property site staff. Provides oversight for overall execution, including scope, design, budget and on-time completion of capital improvements in conjunction with the assigned project management staff. REVENUE & COMPLIANCE Monitors the leasing and marketing of the property. Provides guidance to property management on occupancy issues and advises on changes to rental rates and offered concessions. Tracks and executes programmatic renewals, mark ups and compliance. Maintains strong command of the company brand. REFINANCING & DISPOSITION Leads the refinancing and disposition of properties and is responsible for the successful completion of the transaction. Drafts sales /refinance analyses in conjunction with the asset management analyst and is responsible for making the recommendation to the investment committee. Takes the lead on identifying lenders, brokers or other third parties required in the transaction and takes the lead on related communication. LEADERSHIP Contributes to the Asset Management team by providing mentorship to analysts and other team members, and completes portfolio, team and / or organizational initiatives that result in widespread positive results. Represents the company well publicly, embraces its mission and effectively communicates to the communities in which we develop and within the real estate industry. RISK MANAGEMENT Determines how to proceed during crisis management in partnership with the property. Conveys the issues in real time to Senior Management and to executive team and investors as appropriate. Identifies opportunities to lower risk profile of assets in portfolio. Confers with Senior Management on public relations and has the capacity to advise the team on such matters. Work Experience Requirements Ability to discuss and work closely with outside professionals and Company leadership required. Advanced communication, public speaking and presentation skills required. Advanced Microsoft Suite skills required. Ability to build and maintain relationships required. Yardi or Real Page experience required, Power BI experience a plus. Advanced financial acumen required. Travel Ability to travel up to 20% of the time. Education Requirements and/or Years of Experience Bachelors Degree in Finance, Real Estate or other related discipline required. Masters Degree in Finance, Business or Real Estate a plus. 7-9 years of experience in affordable asset management, real estate and HUD or State Housing Authority required. Rose Companies is committed in policy and practice to providing equal employment opportunities for all applicants and employees, based upon their training, experience, and overall qualifications. Consistent with this commitment, discrimination against an applicant or employee based upon the individuals race, color, creed, religion, sex, gender, age, national origin, ancestry, citizenship status, marital or familial status, sexual orientation, gender identity, gender expression, disability, military status, protected veteran status, genetic information, or any other condition or characteristic protected by law is strictly prohibited. Equal Opportunity Employer. This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor. #J-18808-Ljbffr