Director of Asset Management

Bell Partners Inc.; Alexandria (VA); On-site; USD 145,000 - 180,000; Full time

Job summary

Bell Partners Inc. seeks a Director of Asset Management to provide regional oversight for its multi-family portfolio and lead efforts across acquisitions, due diligence, and asset optimization.

The role coordinates asset teams, manages budgets, and communicates performance to investors, executives, and lenders. A strong financial mindset, market knowledge, and collaboration across departments are essential.

Qualifications

• BA or BS required; BBA or MBA preferred.
• Minimum 8 years of experience; at least 5 years in real estate.
• Experience in multi-family asset management, operations, and rehab.

Responsibilities

• Lead regional asset management oversight for a multi-family portfolio.
• Oversee due diligence, acquisition analysis, and market studies.
• Coordinate asset teams to execute renovations and stabilize assets.
• Develop annual budgets with finance and operations teams.
• Communicate with investors and internal stakeholders on performance.

Skills

Financial acumen

Analytical skills

Organizational skills

Communication skills

Influencing skills

MS Excel

MS Word

PowerPoint

Outlook

Education

BA/BS

BBA/MBA preferred

Tools

MS Excel

MS Word

PowerPoint

Outlook

Job description

Director of Asset Management provides regional oversight for multi-family Asset Management functions.

Essential Functions and Responsibilities

• Acquisition Due Diligence:
  Work with Investments and Operations to review underwriting of acquisition candidates prior to final bid, as well as conduct on-site due diligence after winning acquisition bid. Responsible for opining on rental income and expenses, as well as providing independent evaluation of market and completing a market study of recommended rents, both pre- and post-renovation, if planned. Responsible for working with due diligence team to create value proposition and vision for asset upon acquisition.

• Recent Acquisitions (6-18 months, until repositioning plan completed and asset is stabilized):
  Lead asset teams (Asset Management, Operations, Construction) created to complete renovations and/or focus on property-specific issues. Responsible for executing the 90-day asset plan, creating the Final Asset Plan for renovations (as applicable) and ensuring the repositioning plan (management and/or rehab) is completed and the asset is stabilized.

• Team Facilitator and Performance Oversight:
  Run bi-weekly asset team calls; provide follow-up notes and action plans (as outlined below). Responsible for coordination within the team to facilitate progress and drive results. Also review weekly and monthly reporting (occupancy, action plans, financial statements) to identify concerns and work with Operations to address issues impacting revenues and NOI.

• Special Situation (SS) assets:
  Asset Management will be involved in SS issues (either property level or capital structure) that adversely affect cash flow and potentially require communication with owners/lenders. As a result, discussions are needed with Operations, Financials Services/Accounting and/or Construction Services to understand the underlying issues and recommendations. At times, Asset Management will complete additional evaluations (e.g., independent market survey, financial analysis) to more deeply and independently understand the issue, as needed.

• Stabilized Assets:
  Annual Budgets: Asset management will i) work with Financial Services, Operations, and Construction Services to provide guidance and final approval for yearly operating and capital budgets for all Bell assets; ii) identify, analyze and work with Operations and Construction Services (where applicable) to recommend opportunities to add value (e.g., interior unit renovation programs, expense reductions, etc.); and iii) complete cap ex walks if a significant major/capital plan is being proposed (e.g., >$800 per unit) and/or a renovation is recommended, neither of which has yet been approved Cap Ex Related: Asset management will approve Major/CapEx and/or provide design recommendations per Bell policy.

• Communication / Reporting:
  Asset Management will work with Investor Relations and Fund Accounting to address owner/investor inquiries and provide property highlights for the quarterly fund report and year-end investor letters.

• Coordination Among Bell Resources:
  Reach out to internal resources (Accounting, Financial Services, Risk Management, Revenue Management, Purchasing, Marketing, Utility Management, IT) to address property specific issues, improve income and expense control and ensure on-going innovation in design and rehab implementation.

• Additional Functions and Responsibilities:
  Additional duties and projects as assigned.

Knowledge, Skills and Abilities

• Must demonstrate Bell Core Values and work and fit well within the company culture.
• Demonstrate financial acumen, research and analytical skills; strong problem-solving skills and quantitative abilities; must be able to absorb large amounts of data quickly and be capable of reaching sound business decisions after reviewing available information.
• Must be resourceful, possess excellent organizational skills (i.e. handling multiple priorities and coordinating large teams) and strong written/oral communication skills.
• Demonstrate solid judgment and strong interpersonal skills (lead teams from multiple disciplines, often without direct authority, ability to motivate and work with difficult individuals as well as get the deal done without offending team members or buyers/sellers).
• Must be able to work effectively across departments and functional groups, using influencing skills.
• Flexibility in working hours and travel as required to accomplish the work.
• Must be proficient in MS Excel, Word, Powerpoint, and Outlook.

Education and Background

• BA or BS required, BBA / MBA preferred.
• Minimum 8 years of experience, at least 5 years of real estate related experience.
• Preference for multi-family experience (asset management, operations, construction/rehab) and knowledge of DC, Boston, Florida, North Carolina, and/or East Coast multi-family markets.

Compensation Range Annual Salary: $145,000.00 - $180,000.00 Incentive compensation opportunities are available and are performance based.

We are an Equal Opportunity Employer.

Why Join Us?

Our purpose at Bell Partners is to create communities our residents are proud to call home. We currently own or manage over 85,000 homes in North America and continue to grow. Our people are the most important part of our company. We believe in building a culture that encourages our associates to invest in and serve one another, while pushing each other to take risks, allowing us to grow together and make a difference.

Bell offers competitive benefits that can provide protection, peace of mind, and savings. From medical, dental and vision coverage to income protection, retirement savings and other benefits, we've got you covered.

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Bell Partners reserves the right to amend this job description at any time.