Job Summary
Macdonald and Company have partnered with our client, a well-established multifamily real estate developer, to appoint a Senior Director of Asset Management. The Senior Director will be based in San Diego and have the flexibility of a hybrid work schedule. The ideal candidate will have strong leadership skills as they step into a role with 3 immediate direct reports.About the role:
The Senior Director of Asset Management oversees the analysis, monitoring, and execution of business plans for a portfolio of multifamily communities within a real estate development company. In this position, you will lead strategic property performance analysis, collaborate with stakeholders to drive business improvements, and oversee financial planning to maximize portfolio value and investment opportunities.
Key Responsibilities:
- Collaborate on reporting requirements with equity partners and support the Acquisitions team in initial asset underwriting.
- Lead the preparation and delivery of regular reporting on property performance, including weekly, monthly, quarterly, and annual updates.
- Collaborate effectively with clients, vendors, employees from various departments, and executives to assess business strengths and weaknesses.
- Gather and analyze annual reports, system designs, and procedural data to identify areas for improvement.
- Evaluate current practices, documenting findings and providing asset valuation targets compared to initial underwriting.
- Make recommendations for operational enhancements, such as new practices, reports, or staffing changes, and communicate these to senior staff and executives.
- Work closely with the Accounting department to provide guidance on cash flow needs and forecasts.
- Coordinate with the Capital Markets team on financing and refinancing initiatives for communities.
- Support employees in implementing new systems and procedures, ensuring successful adoption.
- Establish and oversee compliance measures for program changes through effective data collection and reporting processes.
- Review program outcomes to gauge effectiveness and recommend further adjustments for continuous improvement.
- Conduct client meetings to gather and assess financial information for comprehensive financial planning.
- Evaluate clients' financial objectives, assets, liabilities, and tax status to develop tailored strategies for achieving property financial goals.
- Stay informed about industry investment trends and opportunities within assigned portfolio markets.
- Pursue ongoing professional development, including acquiring relevant licenses and certifications.
- Perform additional duties as assigned to support the effective management and enhancement of property assets.
- 8-10+ years in commercial real estate industry experience with the majority of experience in the multifamily sector.
- Minimum of 7 years within asset management needed.
- MS Word & Excel (required).
- Must possess strong analytical, communication, organizational and computer skills.
- Accounting, Finance, Business Administration or Real Estate degree or advanced degree.
- Experience with Yardi is a plus.
