Associate, Asset Manager

Website Dantes Community Partners

Position: Associate, Asset Manager
Type: Exempt
Reports to: President
Location: Washington, DC

ABOUT DANTES COMMUNITY PARTNERS:
Dantes Community Partners is the acquisition division of Dumas Collective. The organization is an investment management firm focused on acquiring existing, cash flowing assets with an emphasis on preserving affordable and workforce housing across the country. The firm actively pursues section 8, expiring LIHTC and naturally affordable properties where fresh capital can be injected to enhance the communities and leverage our operating platform to boost tenant satisfaction. Dantes Community Partners has acquired over 1,894 units in the primary target market of the Mid-Atlantic Region with over $320M in assets under management.

POSITION DESCRIPTION:
The Associate Asset Manager will be responsible for running their portfolio of multifamily apartments in their respective markets. This includes the establishment of an accretive business plan and investment strategy with the objectives of maximizing property income, cash flow and long-term value. The asset manager will forecast income and expense projections, capital requirements, risk-return analysis and hold/sell recommendations.

RESPONSIBILITIES:

  • Provide strategic direction for a diverse multifamily portfolio
  • Develop, present, and execute comprehensive annual business plans for each asset
  • Work in partnership with the acquisition team on underwriting and due diligence efforts for new multifamily investment opportunities to add to their portfolio
  • Manage onboarding of new assets and ensure a smooth and successful transition into the portfolio
  • Focus on growing their knowledge of the competitive apartment communities, the development pipeline, and other economic drivers that could impact asset performance
  • Manage third-party property management firms, including working with regional managers and marketing personnel
  • Manage third-party construction management firms
  • Negotiate legal documents and contracts. Coordinate and manage various internal/external resources and consultants (i.e., attorneys, environmental, construction)
  • Visit/travel to all properties within the portfolio on a regular basis to oversee the execution of the capital improvements, operations, and on-site staff
  • Provide direction to third-party property managers regarding the development of and successful execution on operating budgets, capital investment plans, leasing/marketing plans, cost control strategies, risk management strategies, and other significant operational items with the goal of increasing/maximizing value
  • Review financial reporting and variance analyses with Partners/Investors and Fund Managers to ensure that financial statements are accurately presented and strategies effective
  • Interface with investors and maintain required investor reporting
  • Work closely with the firm’s senior partners to develop strategy, objectives, and performance requirements to maximize value for each asset and then execute asset plans by engaging and coordinating with all relevant JV and fund partners where applicable
  • Develop and prepare business cases and financial analyses for strategic portfolio initiatives around new developments, redevelopments, and any related capital projects and prepare recommendations for the partners based on agreed underwriting assumptions and the targeted return parameters
  • Conduct the ongoing reviews of the portfolio and develop a thorough understanding of each property and its challenges, assess the implementation of strategic initiatives, assess operational and management performance, and identify opportunities for improvement while communicating with relevant stakeholders and external teams
  • Work with both internal and external appraisal teams to actively lead the quarterly valuation process for the assets in their portfolio, including the recommendation of value in the context of the market, capital markets, properties’ performance and capital expenditure needs

MINIMUM QUALIFICATIONS:

  • Bachelor’s Degree in Accounting, Finance or other business discipline with 3 or more years of work experience in the field of real estate asset management
  • Strong analytical skills and detail orientation
  • Strong interpersonal and communication skills, oral as well as written
  • Strong coordination and organizational skills
  • Ability to multi-task and meet tight deadlines
  • Ability to work independently in a small team, exhibit initiative and be proactive
  • Ability to organize and analyze large volumes of information
  • Interest in working on technology initiatives
  • Team player, willing to help in areas not explicitly related to job duties
  • Comfortable working in a fast-paced, high-energy environment
  • Proficiency in Microsoft Office Suite: Excel, Word, Outlook

Dantes Community Partners is an equal opportunity employer and offers a competitive compensation package.
For more information, please visit: www.dantescommunitypartners.com

To apply for this job email your details to resumes@dantespartners.com