Asset Manager – Multifamily
Citymark Capital – Cleveland, OH
Citymark Capital is seeking an Asset Manager with a minimum of five years of experience. This position requires the candidate to assume responsibility for actively managing a portfolio of multifamily properties, optimizing cash flow and increasing economic returns to investors. Additionally, the candidate must have experience with equity investments, in depth knowledge of property operations and leasing, and the ability to manage assets with an owner’s perspective.
This position, located in Cleveland, is a unique opportunity for a high energy individual to join an emerging real estate private equity platform with rapid growth potential.
The ideal candidate will be detail oriented, self-motivated and an effective relationship builder. The candidate also must, have a strong work ethic, commitment to success, and represent Citymark with dependable professionalism.
Responsibilities include but are not limited to:
- Develop and implement a multiyear asset strategy for each investment including exit proposals to maximize returns
- Regularly monitor the business and leasing plans, and operating budgets for each multifamily investment
- Review and approve capital expenditures throughout the life of the asset
- Maximize the cash flow from the investment
- Actively manage joint venture relationships with partners and co-investors
- Promptly escalate significant asset events and propose solutions
- Review and manage budgets and operating plans for individual assets
- Evaluate and implement development/redevelopment, leasing, capital improvement, and repositioning programs
- Develop detailed reports, market updates, and financial analysis on the performance of each multifamily asset
- Review monthly property financial reporting package, annual budgets and investment proforma
- Develop and execute revenue-enhancing and expense minimizing initiatives to optimize operational efficiency and increase value
- Attend business meetings, perform onsite property visits and conduct property reviews to evaluate performance
- Actively participate in property valuation process using third party market data
- Recommend methods to optimize returns at the portfolio level while mitigating risk
- Review market, economic and capital trends and factors impacting the performance of the portfolio
- Work with Director of Investments to assist with the due diligence process
- Monitor third party management agreements and performance to protect investment
- Collaborate with teammates to help build business in an energizing and dynamic environment
- Other duties as assigned
- Minimum five years of experience in the real estate capital markets industry, preferably in the private equity commercial real estate sector, or multifamily real estate, with focus on investment, portfolio management, asset management and property operations
- Direct employment history which demonstrates the ability to analyze financial data and prepare financial reports
- Strong understanding of real estate markets and experience on managing multifamily investment assets for investors
- Bachelors and/or advanced degrees or certifications in Real Estate, Business, Accounting, or Finance. (MBA, JD, CPA, or CFA preferred but not required)
- Strong analytical, underwriting, and financial modeling skill set and deep understanding of real estate fundamentals
- Excellent analytics, verbal, research, and written communication and presentation skills are required
- Familiarity with property management software and systems (e.g., Yardi)
- Self-motivated with the ability to manage multiple priorities simultaneously under tight deadlines
- Detail oriented, balanced with the ability to understand overarching strategic priorities. Portfolio management software skills a plus
- Ability to proactively identify risks
- Strong understanding of real estate fundamentals
- Strong project management skills, work ethic and sense of initiative and accountability
- Ability and preference to manage in a hands-on manner
- Ability to work both independently and on a team
- Demonstrated proficiency in Excel, database management applications, and property management software in order to complete required reports and financial statements.
- Strong comprehension of the real estate industry, in particular, property-level property-level operations and asset management
- Ability to understand and negotiate legal documents that underlie each transaction
Citymark Capital is an equal opportunity and affirmative action employer. All qualified candidates will be considered for employment without regard to race, color, religion, gender, age, disability, sexual orientation, national origin, veteran status or any other category protected by law.
Citymark Capital is a drug and tobacco free workplace.
To submit your resume for consideration, please email HiringManager@CitymarkCapital.com.