Senior Asset Manager, Multifamily - North Bethesda, Maryland, United States

Overview · Federal Realty is a proven leader in the ownership, operation, and redevelopment of high quality retail real estate in the country's best markets. We believe we are one of the most innovative and dynamic real estate companies you can work for. Interested candidates who ...

Job description

Overview

Federal Realty is a proven leader in the ownership, operation, and redevelopment of high quality retail real estate in the country's best markets. We believe we are one of the most innovative and dynamic real estate companies you can work for. Interested candidates who research Federal Realty hear a lot about the high quality shopping centers and dynamic mixed use neighborhoods, including a best-in-class residential portfolio. Our well respected real estate team is at our core, but it's the smaller intangible things that can make working at Federal so satisfying. You see, while we're one of the largest publicly traded real estate investment trusts in the country, as measured by the value of our portfolio, we're really a very small company by most standards and we try to operate that way. That means that team members with initiative and ability can get involved in many facets of our business over the years. I encourage you to look us up on LinkedIn and follow Federal Realty Investment Trust.

Federal Realty Investment Trust is seeking a Senior Asset Manager for its multifamily portfolio, based in our corporate office in North Bethesda, MD. The Senior Asset Manager will play a critical role in ensuring the achievement of operating goals and the overall profitability of the residential portfolio. To be successful in this role, you must have strong hands-on multifamily operations experience, including a proven track record of implementing revenue management and cost-containment techniques that drive property-level profitability. In addition, you should possess strong verbal and written communication skills, excellent attention to detail, and the ability to think creatively and solve problems. A "can-do" attitude, along with being proactive and resourceful, is essential. This position reports to the Senior Vice President, Asset Management, who oversees both the residential portfolio and the Northern Virginia retail shopping center portfolio.

Federal Realty's current residential portfolio is comprised of roughly 2,500-apartments ranging from intimate 87-unit apartment buildings proximate to our retail shopping centers to large 500-unit best-in-market luxury communities located in dynamic mixed-use neighborhoods. Federal's residential portfolio size has roughly doubled over the last 10-years, and over 500-units of best-in-market apartments are currently under construction.

Responsibilities

• Direct revenue-enhancing and expense containment programs and initiatives with third party management, while monitoring resident turnover and satisfaction indicators, and identifying opportunities to drive operational excellence within the communities to maximize performance.
• Work with third party management to formulate strategies driving the financial performance and efficient operations at the property-level. Participates and assists in formulating the annual business plan for the assets by helping establish revenue, expense, NOI and other key operating metrics.
• Partner with third party manager facilities and engineering, and neighborhood property operations teams to ensure physical assets are operating at peak performance levels.
• Communicate with and closely interact with the Senior Vice President and third party manager to monitor the operation of the portfolio by conducting routine site visits and inspections, reviewing weekly leasing, occupancy and revenue reports, addressing policies, procedures and compliance issues.
• Analyze monthly property-level revenue and operating expense statements for all properties comparing actual to budget /proforma and coordinate variance analysis with accounting and finance.
• Manage quarterly reporting memo development, efficiently communicating the results of the portfolio for review by executive management.
• Assist in developing and managing the annual capital plans for renovation and other capital improvements.
• Develop and validate underwriting analysis of potential new residential investments and other due diligence as needed.
• Complete special projects and other duties as assigned to support the overall objectives of the residential portfolio and asset management team.

Qualifications

• BA/BS degree required.
• 7+ years' experience in multi-family property operations as property manager or general manager is required.
• Preferred minimum 2 years' experience as a Regional Manager in the multi-family industry, managing 800 units or more.
• Certified Apartment Manager (CAM) or Certified Property Manager (CPM) preferred.
• Property-level operations experience and comprehension of the real estate industry, with a proven track record of implementing revenue management and cost containment techniques.
• Experience developing and managing budgets, with a proven track record in driving property-level profitability.
• Demonstrate the ability to read, write, and communicate effectively to explain property-level operating statements and key strategies or initiatives to drive the performance of the portfolio.
• Excellent interpersonal communication skills in order to present compelling and persuasive presentations.
• Proficiency with property management software platforms, preferably Yardi and Yieldstar.
• Highly proficient with MS Office (MS Word, Excel, PowerPoint, Outlook) and utilizing Property Management software.
• Strong organizational and time management skills; ability to handle multiple projects.
• Effectively work with minimal supervision and exercise sound judgement when making decisions.
• Ability and willingness to travel as needed to support portfolio oversight, including regular site visits and increased travel during periods of heightened operational activity.

Salary Range: The typical pay range is $135,000-$155,000 a year plus bonus. Salary is determined by job-related skills, experience, and relevant education, training, and/or certification.

Federal Realty Investment Trust is an Equal Opportunity / Affirmative Action employer. Federal values a diverse workforce and is committed to providing equal employment and advancement opportunities to all employees and applicants. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, national origin, age, disability, gender identity or expression, genetics, or protected Veteran status.

Federal Realty Investment Trust does not accept unsolicited resumes through or from search firms or staffing agencies. All unsolicited resumes will be considered the property of Federal Realty Investment Trust and Federal Realty Investment Trust will not be obligated to pay a placement fee.

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