Asset Manager, Asset Management

Security Properties has an opening for an Asset Manager.

About Us Since its formation in 1969, Security Properties and its partners have invested over $2.0 billion of equity in multifamily real estate, representing a portfolio value of nearly $6.0 billion. Security Properties believes in proactive communication with partners, lenders, and employees and invests heavily in the training of its people to ensure the longevity of our business relationships.

Great Opportunity This Asset Manager is part of the Asset Management Group, which is responsible for the business and investment performance of Security Properties portfolio of conventional multifamily properties. The Asset Manager will be responsible for a property portfolio in Seattle and one other geographic market to be assigned (Arizona, Colorado, Nevada, Tennessee, Texas, or other). There is the potential for the role to advance and absorb responsibilities in other markets as the firm grows.

The base salary for this position is between $150,000 - $160,000 annually.

Essential Duties and Responsibilities

• Monitor and evaluate financial operating results within assigned portfolio.
• Complete monthly review of financials and narratives; review weekly project data including leasing reports, traffic reports, and delinquencies.
• Ensure that each asset meets acquisition proforma objectives, capital improvement deadlines, and investor goals as the property is transitioned into Security Properties stabilized portfolio.
• Work collaboratively with property management on budgets, staffing, capital improvements, and other programs.
• Identify challenges and execute timely and effective solutions.
• Lead the renovation planning and execution of assets within the portfolio, including the development of targeted rent levels, the appropriate scope of work, operational plans, and execution strategies/tactics.
• Troubleshoot execution challenges including leasing issues, rent performance, excess turn times, etc.
• Make regular visits to assigned market to maintain a strong presence with Regional Managers, local brokers, and investors in each city.
• Review curb appeal status of capital improvement projects, model inspections, expense approvals, and personnel issues.
• Work closely with Regional Managers to ensure the right people are assigned to each asset and make recommendations for changes as needed on a timely basis.
• Manage the annual budget review and approval process for the assigned portfolio.
• Establish long-term and short-term initiatives to maximize investment returns.
• Evaluate property performance to assist in strategic business planning.
• Develop and enforce benchmarks, guidelines, and policies.
• Oversee tax appeal issues and maintain regulatory and lender compliance.
• Oversee accurate and regular reporting to groups of executives, investors, lenders, and partners.
• Cultivate positive relationships with investors by responding to questions in a timely manner and leading periodic site tours.
• Provide support for due diligence and acquisitions, including underwriting, advising on project proforma, creating initial operating budgets.

Desired Skills and Qualifications

• Ability to thrive in a rapidly growing, dynamic, and collaborative environment.
• Strong analytical and problem-solving skills with a demonstrated track record of providing creative and innovative solutions to real-time challenges.
• Intuitive and detailed sense of the dynamics, risks, and structured financings of each transaction.
• Proficiency with Word and Excel.
• Strong presentation, negotiation, and communication skills.
• Sound decision-making ability with the experience to balance consensus against authority as appropriate.
• Excellent organizational and time management skills.
• Manage multiple projects involving time-sensitive, detail-oriented work consistently meeting deadlines amid changing priorities.
• The ability to travel to assigned markets as needed (currently estimated to be 3-4 days/month).

Education and Experience

• Minimum of 5 years of experience in relevant multifamily redevelopment asset management or property management.
• Background in multifamily residential property management or asset manager strongly preferred.
• Strong knowledge of one of the Western Region real estate markets, ideally Seattle or another market with similar rental dynamics.
• Demonstrated experience managing a portfolio of at least 2,500 apartment units.

Amazing Benefits

• 401k matching
• Tuition Reimbursement
• Medical, Dental, and Vision coverage
• Bonus opportunities

Why You Should Apply We are looking for someone who is passionate about real estate and is excited to grow their career at a first-class institutional real estate sponsor.