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Director of Asset Management
- Real estate private equity fund seeking Director of Asset Management
- 5-10 years of experience with a fund or developer/operator required
About Our Client
The hiring firm is an opportunistic real estate investment and management firm headquartered in New York City. It was founded in 2012 by David Cotterman and Nicolas Ibanez, and seeded by an investment group with over $1.6 billion under management. The executive team is skilled at identifying, enhancing and capturing value through the operation, redevelopment and repositioning of real estate assets in a variety of US cities, and takes pride in its disciplined, rigorous approach to investing.
Since 2013, the fund has purchased over $570 million of real estate. Its current portfolio consists of properties in a variety of asset classes, including multifamily, retail, hospitality, industrial, self-storage and office / medical office. Earlier this summer, the group closed on its second fund with $152 million of commitments from a variety of family offices and institutions.
The fund offers new employees an opportunity to help grow and shape the path of a new investment firm with long term, committed capital.
This person will be the sixth member of the team. As such, he or she will need to be comfortable in an "entrepreneurial" environment, and have the willingness and desire to actively participate in all aspects of the business. This person's primary responsibility will be managing the execution of the business plan on existing assets, but will also include underwriting and closing on new opportunities.
Main Responsibility: Asset Management / Business Plan Execution - Work closely with local operating partners to ensure successful execution of investment business plans through the oversight of major capital expenditure programs, project timelines and cost controls, budget review, as well as leasing, sales, refinancing and disposition strategies.
Secondary Responsibility: Underwriting New Acquisitions - Work closely with Executive team to underwrite and provide due diligence support on new real estate opportunities, including creating, modifying, and maintaining investment memos and proformas (including sensitivity, scenario, and yield analyses) related to these transactions.
The Successful Applicant
The ideal candidate will have:
- 5-10 years of real estate experience, ideally in a project management role at a real estate operator or development firm, or as an asset manager at a real estate investment firm
- A deep understanding of key agreements including leases, purchase and sale agreements, management and leasing agreements, operating and partnership agreements, and loan documents
- Proficiency in Excel and Powerpoint, and knowledgeable about Argus, including the ability to independently apply formulas to develop and modify models for a variety of projects with the applicable capital structures and cash flows
The successful candidate will be a team player with strong interpersonal/communication skills, and be able interact with team members, operating / development partners, and investors in an effective and confident manner.
What's on Offer
Base salary + bonus