Asset Manager Job at Morgan Properties
Overview:
What you will be doing/Essential Functions:
- Oversee the Investment Strategy and Business Plan for each asset.
- Assist in the creation of Property Improvement Plans (“PIP”) including gathering of market and benchmarking data, review of property performance, and measuring each asset against its peers, budgets and goals. Identify Action Plans and Follow-Up Items.
- Reviews monthly operating statements and identifies watch list properties. Collaborates with the SVP Asset Management and operations team to prioritize issues and develop action plans to address challenges.
- Site Visits to monitor the physical condition as well as its competitive position within the submarket.
- Evaluates ways to reduce controllable operating expenses for the portfolio by reviewing historical costs and potential savings or efficiencies.
- Maintain a basic understanding of the sub-market, competitive properties in the market, product supply as well as any other market forces.
- Participates in the capital budget process by analyzing potential returns on in-unit renovations and new amenities. Reviews occupancy and market rent data for properties that have successfully completed similar renovations.
- Participates in pricing calls with the Pricing Manager, Regional Manager, and Property Manager.
- Communicate effectively with JV Partners and Ownership and act as bridge between the Operations, Facilities, and the Joint Venture Partners.
- Hosts monthly calls with partners to recap financial results and address any questions or concerns.
- Position may require up to 25% travel.
Qualifications:
- 3 to 5 years of experience in real estate, investment banking, asset management, or related experience.
- A bachelor's degree in business or finance
- Advanced Excel skills with a strong background in financial modeling and valuation analysis
- Attention to detail with strong organizational skills
- Eagerness and ability to learn in a fast-paced environment
The “Benefits” of Employment:
Employee referral payment program- Educational Enhancement Program
- Medical, Dental, and Vision benefits
- Life/AD&D Insurance
- Long and short term disability
- Retirement Plan - 401(k) Plan
- Discount on an apartment with any one of our properties
- Free access to pool and fitness center
Get To Know Us:
Established in 1985 by Mitchell Morgan, Morgan Properties is a national real estate investment and management company headquartered in King of Prussia, Pennsylvania. Jonathan and Jason Morgan represent the next-generation leaders growing the platform and overseeing the business operations. Morgan Properties and its affiliates currently own and manage a multifamily portfolio comprised of more than 350 apartment communities and over 95,000 units located in 19 states. The Company is among the three largest multifamily owners in the nation and the largest in Pennsylvania, Maryland, and New York. With over 2,500 employees, Morgan Properties prides itself on its quick decision-making capabilities, strong capital relationships and proven operational expertise.
Learn more about Morgan Properties at www.morganproperties.com.
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