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Asset Manager

- 6149

- US-TX-Dallas

- Investments

- 2515 McKinney Avenue


Overview

Related Companies is one of the largest privately‐owned real estate firms in the United States. Formed over 40 years ago, Related Companies is a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing, and sales. Headquartered in New York City, Related Companies has domestic offices in Boston, Chicago, Dallas, Los Angeles, Miami, and San Francisco, as well as overseas offices in Abu Dhabi, London, and Shanghai, and boasts a team of approximately 3,000 professionals. The Company’s existing portfolio of real estate assets, valued at over $30 billion, includes luxury residential, affordable and workforce apartments, commercial, retail, and mixed‐use developments across the United States.

 

Related Fund Management (“RFM”) is the investment management arm of Related Companies. RFM was formed in 2010 and administers equity capital on behalf of sovereign wealth funds, public pension plans, multi‐ managers, endowments, Taft Hartley plans, and family offices. RFM has raised over $5 billion of capital to‐date, and is primarily focused on core‐plus, value‐add, and opportunistic real estate investments, the origination and acquisition of debt, and investments in infrastructure‐related development, management, and services.

 

For more information about Related Companies and Related Fund Management, please visit www.related.com.

Responsibilities

Related Fund Management recently raised equity capital that will target core‐plus and value‐add multifamily opportunities in well‐located urban and suburban locations within high‐growth, primary and secondary markets throughout the country. RFM plans to acquire 10,000+ units over the next 4‐5 years under this program. All opportunities will have distinct business plans that include some degree of value enhancement, dependent on asset and market conditions, and will be managed by Related Management Company (“RMC”), the property management division of Related Companies. The Asset Manager will be based in Dallas and work directly with RFM underwriters in New York and Dallas, RMC corporate officers in Dallas, and outside consultants, investors, and lenders.

 

  • Manage the ownership/property management relationship by providing regular and on‐going communication, clear direction of objectives and initiatives, timely and comprehensive reporting, and effective resolution of issues, concerns, questions, and requests
  • Assist RFM underwriters in developing and finalizing the business plan for potential acquisitions, including detailed scope, cost, and timeline of any value‐add strategies
  • Review and finalize annual budgets proposed by Related Management Company, ensuring each meets or exceeds business plan underwriting, is in‐line with market and industry standards, and NOI is maximized through effective revenue growth strategy and expense savings measures, with controlled and effective capital spend
  • Attend weekly or bi‐weekly calls between RMC corporate and property staffs, and provide clear direction when necessary
  • Monitor the financial budgeted‐to‐actual variances and operational performance of each asset on a monthly basis, and identify and investigate deficiencies or opportunities, and guide the development of appropriate action plans that correct deficiencies or maximize opportunities
  • Review market surveys and research presented by Related Management Company and third‐party data providers, identify emerging trends, assess impact on the Company’s market position, and direct strategy accordingly
  • Collaborate with outside consultants (e.g. tax advisors, insurance brokers, interior designers), as well as communicate quarterly and annual financial results to investors and lenders, as needed
  • Oversee the cash management process, including tracking capital expenditures spend, managing operating and capital reserve balances and disbursement requests to lenders, and handling cash surplus distributions to investors
  • Keep abreast of current changes in technology, processes, and standards within the industry by attending industry conferences and/or subscribing to professional publications, and apply knowledge and practices to areas of responsibility

Qualifications

  • Minimum of Bachelor’s degree
  • Minimum of 10 years of overall real estate experience, with 5+ years of direct asset management experience, preferably in the multifamily sector
  • Employment  history  that  demonstrates  progressive  levels  of  responsibility,  as  well  as  successful execution of specific revenue/expense management initiatives in order to meet financial business plans
  • Experience in successfully implementing and overseeing significant value‐add capital projects to achieve appropriate ROI, preferably of existing Class B/C multifamily assets
  • Demonstrated ability to read, write, and communicate effectively, including presenting to ownership, senior management company officers, and outside investors and lenders
  • Proficiency in excel spreadsheets and word processing, and proven ability to produce accurate, detailed quarterly/annual performance and ad hoc reporting
  • In‐depth knowledge of budgeting process and financial statements, including income statements and balances sheets
  • Strong interpersonal skills, including demonstrated ability to supervise others and multi‐task with several parties involved to meet tight deadlines
  • Travel will be required on a quarterly basis for owned‐assets, and occasionally for potential acquisitions

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