Asset Management Assistant Vice President, Multifamily (Finance)

Asset Management Assistant Vice President

Multifamily

Harbor Group International, a Norfolk, Virginia based real estate investment and property management firm, has an immediate need for an Asset Management Assistant VP - Multifamily at corporate office in New York City. Are you the one?

The Role

As our Asset Management Assistant VP - Multifamily you will be expected to oversee, as the asset manager, a select number of assets under the direction of the VP - Multifamily and provide analytical and administrative support for a variety of asset management functions across the company's real estate investment portfolio. The initial assigned responsibilities will include direct oversight and strategic asset management for approximately 15 properties in the southeastern region. The role will work closely with the other members of the Asset Management team and interact with the other corporate teams including Property Management, Investor Relations, Transactions, and Accounting.

The Purpose

You will work directly with the Vice President - Multifamily to ensure expectations are met for all deliverables.

The Key Responsibilities

• Actively review weekly and monthly property data for owned properties including leasing reports, traffic reports, construction progress reports, collections, aged delinquencies, etc., and work with Property Management to improve operational performance. With a focus on overall business plan implementation more than operational execution, 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 and work with Regional Managers 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.
• Develop annual business plans and manage the annual budget review, including review and approval of budgets for the assigned portfolio and for new acquisitions.
• Oversee and manage outside consultants to ensure timely review of tax assessments and oversee tax appeals.
• Develop a working knowledge of the properties, loan documents, partnership agreements, and other agreements. Working with Property Management and the finance team, ensure compliance with regulatory, contractual, and lender requirements.
• Identify and implement value-add opportunities to improve overall property performance.
• Provide monthly financial and operational updates for the assigned portfolio and properties.
• Provide ad hoc portfolio level and asset level financial analysis, cash flow forecasting, and market research.
• Lead due diligence for new transactions by working closely with operations and transactions on confirming key assumptions.
• 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.
• Additional duties or job functions that can be performed safely may be required as deemed necessary by Harbor Group International

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

• Bachelor's degree is required.
• Minimum of 3 to 7 years of relevant experience in real estate and/or finance; experience with multifamily properties preferred.
• Prior experience with garden style apartment properties is a plus.
• 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.
• Good written and verbal presentation and communication skills.
• 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.

The Perks

• A comprehensive benefits package that includes competitive salaries, bonuses, and incentive plans, as well as an extensive list of health and retirement options
• An environment that supports learning and development through our in-house education program, HGKey, along with providing tuition reimbursement and external training with industry leaders
• Volunteer and community service opportunities through our HG Cares Employee Volunteer Program
• Recognition and awards, a generous employee referral program, and an employee apartment discount at a Harbor Group community
• Our office is in midtown Manhattan easy access to all forms of transportation
• Commuter Benefits Plan

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