Job Description

Headquartered in Chicago,

29th Street

is a privately held investment management firm specializing in multifamily real estate and PropTech. We acquire, develop, renovate, and manage multifamily communities across the U.S., leveraging cutting-edge technology to enhance the resident experience and maximize property performance. With over 15 years of delivering above-market returns across

$5.1 billion in assets

, our culture is guided by a clear Mission, Vision, and set of Values and we're looking for talented individuals to help us continue our growth and innovation.

SUMMARY OF POSITION

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The Asset Manager serves as the owner's representative in all activities related to tracking performance and execution of the business plan, including staffing, budgeting and strategy of their assigned asset or assets. The Asset Manager oversees reporting, deal underwriting verification, and investor reporting for their assigned portfolio. The role requires technical abilities needed to navigate 29SC's asset management technology stack. This position is highly entrepreneurial, and the ideal candidate is an individual who is self-motivated, works well in teams and succeeds in a fast-paced, high-growth environment.

ESSENTIAL JOB FUNCTIONS

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Maintain an intimate, hands-on understanding of assigned assets, including physical condition, market competitive position, capital plan, debt structure and financial performance. Lead and oversee business plan initiatives along with property management, project management, finance and accounting to maximize long-term value of assigned assets. Lead, mentor and direct assigned asset management analysts, fostering an environment of strong analytical support and professional development. Closely monitor supply/demand factors (e.g. new construction and competing renovations), local regulatory requirements (e.g. rent restrictions and eviction processes), major employers and other macro factors which may impact the performance and long-term value of the asset. Actively seek and digest available market reports through external or internal sources (brokers, technology platforms, economic development departments, internal acquisition team members, etc.) Prepare and review internal asset management models for accuracy and perform and present buy/sell/hold analyses. Track property level Key Performance Indicators on an absolute and relative basis to create a proactive strategy to address real time trends or issues. Oversee property management's efforts of business plan execution including pricing and expense mitigation strategies and maintain relationships with key onsite staff members and track performance of individual site level employees. Review and approve monthly financial and operating packages. Track cash flow, manage the balance sheet (including capital accounts) and recommend monthly distributions to investors or anticipate the need for potential capital calls. Track capex plan and budget, including performance to underwriting and ROI. Produce materials for asset management reviews, quarterly Investor reporting packages and regular portfolio valuation analysis. Participate in due diligence activities. Prepare and review lender requests, loan documents and other financing activities, including construction draw requests. Regularly walk assets with property and project management teams - for assets in transition (new, refinanced or upcoming sale), have performance issues, or material ongoing capital projects up to once per month, and for stabilized properties at least quarterly.

REQUIRED SKILLS / ABILITIES

The individual must possess the following knowledge, skills and abilities and be able to explain and demonstrate that they are able to perform the essential functions of the job, with or without reasonable accommodation, using some other combination of knowledge, skills, and abilities:

Strong finance, modeling, and analytical abilities Effective verbal and written communication abilities. Self-starter able to track down and analyze information and overcome obstacles to accomplish objectives. Strong technical abilities - particularly with Microsoft Excel and PowerPoint Flexibility to work on multiple projects and to prioritize work without intensive direction from supervisors. Ability to work effectively/collaboratively across the organization. Capability to independently underwrite real estate acquisition opportunities with experience in multiple different commercial property sectors

EDUCATION AND EXPERIENCE

BS/BA degree from an accredited college/university with a strong academic or work background in financial analysis, mathematics, accounting preferred. At least five years of related experience required.

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