Senior Asset Manager - Multifamily Portfolio

Company: SHERMAN RESIDENTIAL
Location: Northbrook
Posted on: September 3, 2024

Job Description:

Company Overview:Sherman Residential is an innovative, privately held real estate investment firm specializing in the management of top-tier multifamily apartments across the southern United States. Established in 1990, we have successfully acquired more than 27,000 apartments and overseen assets exceeding $3 billion. Our current portfolio features 16 Class A properties comprising 5,500 units across 7 states. We actively engage in both acquisition and disposition activities, having completed 8 deals in the past 12 months alone.At Sherman Residential, we take a proactive approach to financial stability by fixing all of our debt, eliminating concerns over loan maturity or floating rate debt. This approach ensures a secure foundation for our operations and investments.Last summer, we successfully raised Fund 15, securing over $260 million, marking our largest fund to date. This achievement underscores our strong investor confidence and further enhances our capability to pursue strategic growth opportunities and deliver superior returns.Job Summary:The Senior Asset Manager role at Sherman Residential offers a unique opportunity to engage comprehensively across our operations, spanning from acquisition through to disposition. This involvement provides team members with invaluable experience in managing the full lifecycle of real estate assets. The role requires a seasoned professional adept in asset management, financial analysis, and property operations. Responsibilities include overseeing strategic and operational performance, collaborating with senior leadership on asset strategies, analyzing financial reports, developing and reviewing budgets, monitoring capital expenditures, and supporting accounting tasks. Additionally, the position entails guiding property acquisitions and dispositions, managing special projects, tracking performance metrics, and supervising roles such as analysts and project managers. The ideal candidate will demonstrate a proven ability to enhance property value, achieve organizational objectives, and deliver outstanding resident experiences. Meticulous, analytical, and collaborative individuals will thrive in this dynamic role.Reports to: Vice PresidentWage Status: Exempt - competitive pay with transactional and annual bonuses, experience dependent.Primary Duties--- Develop and execute business plans; propose and implement new strategies to optimize operations.--- Enhance total return on assets by analyzing property efficiencies and identifying opportunities for performance improvement.--- Develop and implement cost control measures, capital investment plans, and risk management strategies to maximize asset value.--- Review and analyze monthly financial reports, including budget variances, income statements, balance sheets, cash flow statements, and delinquency reports.--- Prepare and adjust annual budgets; monitor expenses and variances to maximize efficiency.--- Regularly review and assess interior and exterior improvement plans, ensuring alignment with budgetary constraints.--- Interface with construction management to ensure Capital Expenditure (CapEx) projects align with business plans and are executed effectively.--- Develop, distribute, and maintain asset management reports. Create and document processes for recurring projects.--- Monitor and align asset strategies with senior management; provide project management support as needed.--- Collaborate with property-level staff to understand current operations, budget variances, and performance issues.--- Conduct on-site property inspections, document findings, and provide actionable recommendations to senior management and property staff.--- Integrate new technologies into property operations to enhance efficiency and performance.--- Oversee and support the daily pricing tool (e.g., LRO) used across the portfolio, including setting concessions andadjusting rates as needed. --- Oversee the resident renewal process to ensure high occupancy and retention rates.--- Manage the organization's key property management software in collaboration with the systems engineer and accounting teams.--- Track and analyze utility costs and recoveries across the portfolio to ensure cost efficiency.--- Develop and implement preventative maintenance practices in conjunction with construction management.--- Lead the due diligence process for new acquisitions and property dispositions.--- Manage and support positions within the asset management team.--- Travel to asset locations, client meetings, and internal meetings on an as needed basis.--- Attend training and informational seminars to stay current with industry policies and procedures.--- Foster a positive working environment and culture, collaborating effectively with on-site staff members.Essential Qualifications--- Education: Bachelor's degree in finance, Real Estate, or a related field.--- Experience: Minimum of 3-7 years in real estate asset management, with a demonstrated track record of success. Supervisory or leadership experience preferred.--- Skills: Strong analytical skills, critical thinking, and decision-making abilities. Strong time management skills and ability to multi-task. Excellent oral and written communication skills. Advanced proficiency in Microsoft Excel. Familiarity with Yardi preferred, but not required.--- Personal Traits: Solution-oriented, with a passion for real estate, finance, investing, or private equity. Respect for others with the ability to be sensitive to the needs of fellow employees and residents we serve. Ability to build relationships and work collaboratively and effectively with diverse groups both internally and externally. Show a commitment to communication, integrity, teamwork, respect, accountability, adaptability, passion, innovation, excellence, quality, and service.--- Additional Requirements: Ability to travel up to 35% of the time. Commitment to organizational goals and adherence to company policies as outlined in the Employee Handbook.Location--- This position will be based out of the corporate office in Northbrook, IL and is a hybrid position requiring in-office days on Tuesdays and Thursdays when not traveling. Additional in-office days may be required occasionally.Company BenefitsEngaged and Supportive LeadershipCollaborative Team EnvironmentMedical InsuranceDental InsuranceVision InsuranceLife and Disability InsuranceFlexible Spending Account401K w/ Company MatchingEmployee Investment OpportunitiesPaid Time Off - Holidays, Floating Holidays, Vacation and Sick TimeRemote/Hybrid Work ScheduleEmployer Funded Training and Development OpportunitiesTuition ReimbursementEmployee Discount ProgramFocus on Work/Life BalanceEmployee Assistance ProgramSummer Hours Day FridaysOn-Site Gym in BuildingSalary: $120,000 - $140,000, or based on experience

Keywords: SHERMAN RESIDENTIAL, Chicago , Senior Asset Manager - Multifamily Portfolio, Accounting, Auditing , Northbrook, Illinois