Asset Management Associate

Bullpen; Nashville (TN); On-site; USD 60,000 - 100,000; Full time

Job summary

An established industry player is seeking an Asset Management Associate to join a dynamic team. This role is pivotal in overseeing the operations and financial health of extensive property portfolios, ensuring compliance, and driving business decisions through insightful analysis. The ideal candidate will possess strong multifamily operational experience and excel in financial analysis, communication, and business writing. You will engage with various stakeholders, including onsite teams and investors, to enhance portfolio performance and contribute to strategic planning. If you thrive in a collaborative environment and are passionate about real estate, this opportunity is perfect for you.

Qualifications

• Bachelor's degree required; Real Estate, Finance, or Business preferred.
• 5+ years of multifamily operational experience preferred.

Responsibilities

• Manage daily operations of a portfolio consisting of 2,000+ units.
• Review monthly financial statements and identify variances.
• Conduct capital walks in preparation for the annual budgeting process.

Skills

Multifamily operational experience

Financial analysis

Communication skills

Business writing

Excel proficiency

Education

Bachelor's degree in Real Estate, Finance, or Business

Tools

Excel

Job description

Bullpen, on behalf of our client, is looking for an Asset Management Associate to add to a growing & thriving team. This role will be responsible for supporting the senior members of the Asset Management team, overseeing the operations and financial health of assigned portfolios, and analyzing internal and external reports to inform business decisions.

Key Responsibilities

Operations Oversight

1. Manage daily operations of a portfolio consisting of 2,000+ units.
2. Conduct site visits, build trust with onsite teams, and set clear expectations.
3. Monitor incident reports and communicate with insurance agents to mitigate losses.
4. Lead weekly operations calls with third-party property managers.
5. Utilize internal reports to inform portfolio business decisions.
6. Coordinate lender inspections and ensure timely completion of required repairs.
7. Track compliance-related metrics and ensure timely deliverables.
8. Review monthly financial statements, identify variances, and ensure proper accounting adjustments.
9. Approve major operational expenses outside of budget.
10. Monitor operational cash balances and notify the Director of any potential shortfalls.
11. Analyze market rents and approve rent changes and concession offerings.

Reporting & Analysis

1. Review third-party operations reports, flag trends, and provide actionable insights.
2. Develop action plans for distressed assets and monitor performance.
3. Provide variance notes and insights for the monthly Summary of Asset Performance (SOAP) report.
4. Serve as the primary contact for ad hoc reporting requests.

Budgeting & Business Planning

1. Conduct capital walks in preparation for the annual budgeting process.
2. Review portfolio budgets, verify assumptions, and provide recommendations.
3. Develop business plans based on budget projections.
4. Present budgets and business plans to the Director of Asset Management.

Investor Relations

1. Review data and write narratives for quarterly investor reports.
2. Participate in investor reporting reviews with senior management.

Key Performance Indicators (KPIs)

1. Year-over-year Net Operating Income (NOI) % increase for stabilized assets.
2. Net distributable cash flow variance to budget.
3. NOI variance to budget.
4. Annual economic occupancy >96% for stabilized assets.
5. Annual delinquency as a % of total rents charged.

Skills & Qualifications

1. Bachelor's degree required; Real Estate, Finance, or Business preferred.
2. 5+ years of multifamily operational experience preferred.
3. Experience in affordable housing operations and compliance is a plus.
4. Valid driver’s license and ability to travel to properties as needed.
5. Proficiency in Excel, with the ability to build new reporting templates.
6. Strong ability to analyze income statements and identify financial trends.
7. Excellent communication skills, capable of addressing issues in real-time.
8. Strong business writing skills, particularly for investor reporting.
9. Alignment with company values of authenticity, proactivity, collaboration, and respect.

Seniority level

Associate

Employment type

Full-time

Job function

Other