Asset Manager, Director

Company OverviewJair Lynch Real Estate Partners ("JL" or "Jair Lynch") is a leading real estate investment and development firm specializing in the transformation of walkable urban places. With a strong focus on creating extraordinary places, JL has successfully acquired, developed, and managed a diverse portfolio of residential, commercial, and neighborhood assets. We are committed to fostering a culture of creativity, teamwork, diversity, and excellence while continuously improving everything we do.Job SummaryWe are seeking an enthusiastic and detail-oriented Senior Asset Manager to join our team. The Senior Asset Manager is responsible for overall project execution for assigned income producing properties and ensuring JL consistently meets business plan objectives, schedule, budget, and return metrics. Project execution will include understanding project underwriting, refining market positioning, leasing oversight, revenue maximization, operating expense management, property condition maintenance and capex implementation, capital budgeting, property manager supervision, debt and regulatory compliance, risk management, and real estate tax assessment appeals. The Senior Asset Manager will work on multiple income producing assets simultaneously and must be able to work in a fast-paced, multiple responsibility environment, balancing competing priorities and several project assignments. Senior Asset Manager will be supported by a Vice President, Director of Project Management, associates, the Investment Management team, and others as necessary. Your contribution will help optimize our asset management practices and drive the success of our real estate portfolio.Duties & ResponsibilitiesLead the execution of the business plans for a diversified portfolio of mainly multifamily assets, many with an affordable component. High level tasks include tracking key business plan activities, reviewing operational metrics, and monitoring achievement of investment returnsManage day-to-day relationships with third-party property managersOversee leasing efforts and other operational areas including regulatory compliance (e.g. Section 42 - LIHTC), risk management, capital budget, etc.Conduct asset operational performance review meetings with property managers to go over performance, budget variance, cap ex spending, etc.Prepare reporting for capital partners including monthly reports, regulatory compliance documentation, quarterly investment dashboards and annual business plan updatesMake regular site visitsNegotiate project contracts and agreements, including commercial leases and third-party contracts with consultants like attorneys, insurance brokers and construction consultants when applicableAssist with equity capital calls from conventional equity providers, as well as LIHTC investorsReview market, economic, and capital trends affecting the performance of the project; recommend changes to the Business Plan as needed based on trend analysisAssist with updating project proformas for changes to operating, capital market, and investment assumptions on rents, operating expenses, cap ex needs, etc.Participate in periodic valuation of assigned assets and make sell/hold recommendations in tandem with the Investment Management teamPeriodically review property for non-operational valuation creation opportunities, e.g. bulk wi-fi, storage, land monetization, etc.Interact with resident associations, community groups, and political leadersSupport other Jair Lynch teams on debt and equity closings for acquisitions and refinancing or supplementals for stabilized assets, as neededMentor and coach Asset Managers and Associates working on assigned deals or in the groupCompetenciesStrong understanding of real estate and correlation between asset level decisions and financial performanceFoundational knowledge of real estate financeWorking knowledge of property operations and affordable housing programsExcellent interpersonal, organizational, administrative, and communication skillsAttentive to detail, proactive, discreet and dependableGood judgment and initiativeAbility to function independently but also able to work in close cooperation with othersAdept at coordinating and prioritizing a variety of tasks and multiple project simultaneously in a fast-paced environmentStrong project management skills, with experience managing internal and external team members at various levels with disparate project responsibilitiesPositive team player with professional demeanor who can communicate in a clear and polite manner in person, on the phone, or over meeting appsExcellent grammar, spelling, proofreading, and editing skills, and the ability to research information and compile it into a concise briefingRequirementsBachelor's degree in a field related to real estate (i.e., finance, law, property management, economics, etc.)Strong experience with affordable and workforce housing including LIHTC programMinimum of seven (10) years or more experience as an asset manager for multifamily properties, particularly those with institutional equity partners. Prospects with or earning master's degrees in real estate and similar fields and have experience in real estate underwriting are encouraged to apply even if they do not meet the minimum work requirementExperience in real estate finance, multifamily rental operations and capital projectsStrong computer skills in Microsoft Outlook, Word, Excel, PowerPoint, and MS TeamsBenefitsCompany matched 401KComprehensive and affordable health plansPaid parental leaveTransportation benefitsGroup life & personal accident insuranceEducational assistance

Created: 2025-03-03