Asset Manager Us Residential

WP Osborne Executive Search is partnered with Starlight Investments in a search for an Asset Manager to join their US Asset Management Team.

Asset Manager, US Residential

The Asset Manager will be responsible for ensuring that the assets in their portfolio exceed the goals set out in annual budgets and asset management plans. The Asset Manager will be responsible for portfolio reporting, financial analysis, identification and implementation of value-add opportunities, communication to 3rd party property management companies, creation of annual operational and capital budgets, preparation and implementation of marketing strategies, and ongoing communication with stakeholders and service providers. The Asset Manager will assist in portfolio acquisitions, dispositions and financing activities, train and mentor Analysts, and participate in other day-to-day activities as required by the various stakeholders.

Duties and responsibilities:

Asset Plan Execution:

• Provide direction to 3rd party property management companies regarding day-to-day management and operation activities;
• Set annual operational and capital budgets;
• Complete full financial review and analysis on a monthly basis;
• Review and provide approval of capital projects, as well as monitor progress of projects to ensure timely completion and quality control;
• Engage appropriate 3rd party providers for design-related capital projects; direct, review, and approve design projects for implementation with capital projects team;
• Evaluate performance of portfolio assets vis-à-vis the individual asset management plans, and recommend and implement revisions as necessary;
• Conduct weekly leasing calls with third party property managers to review asset performance and strategy;
• Tour properties regularly on a quarterly basis, at a minimum.

Reporting:

• Review asset management reports and present quarterly reporting to clients;
• Review and present ad hoc reporting as reasonably requested by clients;
• Manage the property tax appeals process for portfolio.

Value Add Opportunities:

• Ensure all possible value creation opportunities are identified in asset management plans and implemented in timely manner;
• Recommend and implement such programs with assistance from capital projects teams and/or 3rd party property management companies.

Relationship Building:

• Liaise and regularly communicate with other internal departments and team members regarding portfolio;
• Conduct other day-to-day relations with third parties, including property managers, suppliers, joint venture partners, lenders, brokers, consultants, advisors, accountants, lawyers, insurers, appraisers, and regulatory bodies.
• Ensure compliance to conditions set in place by financial institutions/lenders, municipalities and other governing bodies. Provide updates and direct activities to correct any deficiencies;
• Assist with acquisitions, dispositions, and financing transactions;
• Promote the Starlight brand in the real estate community;
• Manage investor/client relations activities;
• Organize and lead property tours with Client and other stakeholders;
• Coordinate due diligence activities with other departments and/or third parties;

Qualifications

The Asset Manager will possess a University Degree in Business, Finance, Urban Development and/or related field, and 4 to 6 years of relevant real estate experience. The successful candidate will have superior communication, organizational, analytical, and problem-solving skills, as well as the ability to work well with others while managing multiple priorities. MBA or CFA designations are considered an asset.

Application

Qualified candidates can submit their resume via LinkedIn. In accordance with the company’s mandatory vaccination policy, only applicants who have been fully vaccinated, or who are unable to vaccinate due to valid medical or religious reasons will be considered for an interview.

Company

Starlight Investments is a privately held Toronto-based, full service, multi-family and commercial real estate investment and asset management company driven by an experienced team of 350 professionals. The company currently manages over $25 billion of direct real estate as well as real estate investment securities. Investment vehicles include institutional joint ventures, True North Commercial REIT, Starlight U.S. Multi-Family Funds, Starlight Western Canada Multi-Family Funds, Northview Fund and Starlight Capital Funds. Starlight Investment’s portfolio consists of approximately 73,000 multi-residential units across Canada and the U.S. and over 9.0 million square feet of commercial properties.

Starlight U.S. Residential

For more information, visit www.starlightinvest.com and www.starlightus.com

Reference #1307 – Asset Manager, US Residential