POSITION TITLE: Asset Manager

REPORTS TO: Director of Asset Management - American House

SUPERVISES: Assigned Financial Analyst, Junior Asset Manager

PERSPECTIVE

The Asset Management department is charged with the day-to-day implementation of business plans and programs for properties, considering the objectives and needs of the clients, owners and lenders with a focus on increasing the value of the properties being overseen.  The Asset Management role merges the oversight of operations, sales and leasing with hands on financial planning and execution to maximize and protect the health and ownership of the real assets of the organization.

The position is characterized by a high degree of responsibility, creativity, problem solving, vision, accountability, technical aptitude and diplomacy.

The Asset Manager position is designed to represent and oversee American House’s ownership interests in a dynamic portfolio of seniors housing comprised of multiple acuity classes (independent living, assisted living and memory care). The primary goal of this position is to drive value creation in his/her portfolio of assets and to ensure communication with key stakeholders. The position is characterized by a high degree of responsibility, executive interface, creativity, problem solving, vision, accountability, technical aptitude and diplomacy.

JOB DESCRIPTION

Job responsibilities include related to his/her portfolio of properties:

1. For new investments as assigned, in conjunction with the American House acquisition team, assist in due diligence and transferring new assets from the acquisitions department to asset management.
2. Support the administration of the terms of the Operating Agreements to ensure all investments are managed in accordance with these agreements.
3. Review and analyze property management agreements, leases, operating and easement agreements, service agreements, and other agreements.
4. Review and summarize all loan documents and coordinate compliance with all loan agreements. Support lender communication and negotiations for new loans, loan re-financings, loan extensions, and loan modifications.
5. Monitor leasing and sales, including reviewing marketing strategy and materials and rate establishment on his/her portfolio of properties in conjunction with the American House Sales Team and
6. Monitor the performance of the asset with respect to its competitive performance in the marketplace and its overall operating performance.
7. Review and approve the annual operating budget prepared by the American House management company; coordinating approvals from partners and lenders as required by agreements
8. Review and approve an annual marketing plan prepared by the American House management company. Monitor the performance with this plan throughout the year.
9. Monitor monthly operating results and cash flow of each property.
10. Review and approve an annual capital expenditure budget and 5 year capital expenditure plan prepared by the American House management company-
11. Prepare and deliver detailed asset management business plans to Ownership on an annual basis. This plan will include a budget overview, competitive analysis, SWOT analysis, Equity and Debt update, long term pro-forma valuation, a strategic plan, and benchmarking/historical trends.
12. Provide quarterly reports summarizing forecasted results from budget and updating pro-forma valuation guidance to Owners and American House executive team. 
13. Coordinate and review and summarize outside appraisals.
14. Monitor and analyze property tax assessments to ensure appeals are being diligently pursued by outside tax appeal consultants.
15. In conjunction with the Chief Investment Officer and other American House executives, support the coordination of disposition and re-capitalization efforts within their portfolio.
16. Input investment returns into Investment Tracker
17. Calculate/analyze partnership promotes 

OTHER

• Travel may be required, as needed
• Participate in special projects, as needed

QUALIFICATIONS

1. BA or BS in Management, Business Administration, Finance, Accounting, Real Estate, Senior Housing or related field.

2. Minimum three years of experience in the real estate industry and /or Senior Housing Industry.

3. Expert level proficiency with Microsoft Office software, particularly Excel software, ARGUS projection software a plus

4. Working knowledge of development, acquisition, construction and management issues, policies, and procedures

5. Conversant with and knowledgeable of the following aspects of property fundamentals:
    a) Accounting and Finance
    b) Budgeting
    c) Business Planning
    d) Partner and Owner Relations
    e) Insurance
    f) Management Skills
    g) Property Taxes
    h) Partnership Agreement and Structure
    i) Debt Agreements
    j) Management Agreements

6. Able to troubleshoot problems, seek creative solutions and work with multiple disciplines on multiple projects at the same time.

7. Able to prepare computer generated financial feasibility analysis, cash flows, and pro-forma.

8. Able to effectively communicate and persuade; demonstrate well-developed oral and written skills in the presentation of ideas and concepts to lenders and investors

Founded 50 years ago by the late Robert Sosnick, REDICO (Real Estate Development and Investment Company) is a trusted leader across a variety of national real estate arenas. Our success is powered by an innovative, ambitious approach to diversification, coupled with a long-standing foundation of experience, stability, and respect.

Each day, our team’s goal is to communicate, execute, and focus our teamwork in pursuit of our mission: To create and maximize real estate value for our company, our people, our partners, our investors, our customers and the community.

We have consistently set high expectations for ourselves over the course of five decades to make REDICO a valued and skilled partner for all. These expectations have fueled our successes and the satisfaction our customers and partners have come to expect. With each property and project we are a part of, we continue to build further upon our reputation with the highest integrity. 

Our clients, partners, and investors choose us based on our record of honesty, trust, expertise, and performance.