JOB TITLE: Assistant Vice President Asset Management
LOCATION: Onsite, in Norfolk, VA or New York, NY Corporate Offices.
JOB SUMMARY: In the role of Assistant Vice President of Asset Management, you are a part of Harbor Group International’s Asset Management Group, which manages all the company’s direct equity, preferred equity, and debt portfolio investments.
ESSENTIAL DUTIES AND RESPONSIBILITIES: Include the following but are not limited to the job specifications contained herein. Additional duties or job functions that can be performed safely may be required as deemed necessary by Harbor Group International.
- Work collaboratively with the Transactions, Property Management, and Investor Relations teams on new acquisitions. Participate directly in the development of strategic business plans for new investments and be responsible for the asset management elements of the acquisition process including vetting and sign-off on all operating and capital improvement underwriting assumptions, developing the scope of work for renovation and capital improvement projects, establishing target rent and operating expense levels, finalizing operational and capital budgets, documenting operational plans and investment goals/objectives, and onboarding new acquisitions into the portfolio.
- Review weekly and monthly property data for owned properties, including leasing reports, traffic reports, construction progress reports, aged delinquencies, etc., and work with Property Management to improve operational performance. Identify and troubleshoot issues relating to occupancy and turnover, opportunities to improve rents and implement other income initiatives, controlling expenses, and addressing renovation program challenges including leasing issues, scope of work, rent premiums, excess turn times, etc. Stay abreast of micro, local, and regional market trends and meet or exceed market-based performance benchmarks.
- Monitor, review, and evaluate financial operating results, working with Property Management to implement changes as needed to enhance cash flow and profitability. Manage capital improvement and other reserve balances. Ensure that quarterly and annual cash distribution targets to investors are met.
- Conduct site visits on a regular basis and meet with Property Management to review and assess operations, capital improvement programs, and property physical condition.
- Manage the annual budget review and approval process for the assigned portfolio and for new acquisitions.
- Oversee tax appeal issues and ensure regulatory and lender compliance requirements. Working with Property Management and the finance team, implement initiatives as needed to ensure compliance.
- Support the Transactions team on disposition and refinancing efforts. Participate in sell/hold/refinance decision making, assist with review of broker BOVs and capital transaction analysis, and monitor/address operations during the sale/refinancing process to ensure a successful outcome.
- Effectively present information to and respond to questions from groups of executives, investors, lenders, and partners.
- Support the Transactions team on dispositions and refinancings. Assist with hold/sell analysis and transactional support for dispositions including buyer Q&A and requests for information.
- Participate in regular calls to review portfolio and property performance with the VP and property management teams.
- Support monthly Executive Committee and Asset Management Meeting reporting activities and related Q&A.
- Support quarterly investor reporting activities and assist with Q&A with the investor relations group.
- Assist with loan administration, reserve administration, and lender/servicer interface.
- An MBA or a master’s in real estate or other relevant fields is strongly preferred.
- Minimum of 4 to 7 years of relevant experience in real estate and/or finance; experience with multifamily properties strongly preferred.
- An investment mindset with a thorough understanding of financial calculations such as NPV, DCF, and IRR.
- Previous real estate financial analysis and modeling experience.
- Knowledge of real estate accounting, financial statements, and variance analysis.
- Superior analytical and problem-solving skills.
- Strong presentation, negotiation, and communication skills.
- Proficiency with MS Excel, Word, and PowerPoint required; proficiency with MRI, Axiometrics, and/or LRO a plus.
- A team player who can operate effectively within a fast paced environment.
- Excellent organizational and time management skills. Ability to balance competing priorities. Able to work with time-sensitive, detail-oriented material and meet multiple deadlines.
- The ability to travel frequently.
WHAT WE OFFER:
- Competitive Salaries & Bonuses
- Medical, Dental & Vision Plans
- 401(k) Plan with Employer Matching Contributions
- Paid Personal Time & Holidays
- Flexible Spending Accounts
- Free Long-Term Disability
- Free Life Insurance
- Short Term Disability
- Health Savings Account with Employer Contributions
- Wellness Perks
- FinFit Health Finance Program
- Employee Apartment Discount
- Employee Referral Program
- Employee Recognition & Awards
- Employee Assistance Program
- Volunteer & Community Service Opportunities
- Tuition Reimbursement
Veteran Friendly
This pre-employment application will be given every consideration, but its receipt does not imply that the applicant will be employed. Each question should be answered in a complete and accurate manner as no action can be taken on this application until all questions have been answered.
Harbor Group Management is proudly an Equal Opportunity Employer EOE/M/F/D/V. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability or protected veteran status.
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