Director of Asset Management Job at Bell Partners
We Care. We Deliver. Our purpose is to create communities our residents are proud to call home. We currently own or manage over 70,000 units in North America and continue to grow.
Bell Partners,
https://bellpartnersinc.com/overview/
a national leader in multi-family housing, our mission is to be the apartment company of choice by creating value and honoring commitments to our residents, partners, and associates.
Essential Functions and Responsibilities
- Analysis: Leverage our data research, FP&A team, and internal database to monitor Bell Sponsored assets performance and determine areas that need additional focus; define metrics/KPIs in coordination with Ops/Construction to ensure each group of the 3 part asset team (AM, Ops ,CM) has clear roles and responsibilities to drive performance and value
- Valuations and Distributions: participation and coordination with internal groups, clients, and appraisers as appropriate for our bi-annual valuation process, monthly/quarterly distributions
- Communication / Reporting: Asset Management will work with Investor Relations and Fund Accounting to address owner/investor inquiries and provide property highlights for the quarterly fund report and year-end investor letters
- Coordination Among Bell Resources: Reach out to internal resources (Accounting, Financial Services, Risk Management, Revenue Management, Purchasing, Marketing, Utility Management, IT) to address property specific issues, improve income and expense control and ensure on-going innovation in design and rehab implementation
- Team Facilitator and Performance Oversight: Responsible for coordination within the team to facilitate progress and drive results. Also review weekly and monthly reporting (occupancy, action plans, financial statements) to identify concerns and work with Operations to address issues impacting revenues and NOI.
- Special Situation (SS) assets: Asset Management will be involved in SS issues (either property level or capital structure) that adversely affect cash flow and, potentially require communication with owners/lenders. As a result, discussions are needed with Operations, Financials Services/Accounting and/or Construction Services to understand the underlying issues and recommendations. At times, Asset Management will complete additional evaluation (e.g., independent market survey, financial analysis) to more deeply and independently understand the issue, as needed.
- Annual Budgets: Asset management will i) work with Financial Services, Operations, and Construction Services to provide guidance and final approval for yearly operating and capital budgets for all Bell assets; ii) identify, analyze and work with Operations and Construction Services (where applicable) to recommend opportunities to add value (e.g. interior unit renovation programs, expense reductions, etc.); and iii) complete cap ex walks if a significant major/capital plan is being proposed (e.g., >$800 per unit) and/or a renovation is recommended, neither of which has yet been approved
- Cap Ex Related: Asset management will approve Major/CapEx and/or provide design recommendations per Bell policy
- Accounting Related: Review post-closing prorates and income guarantee escrows and approve tax appeals, operating cash reserves, and distributions, using recommendations from Accounting/Financial Services. Settling post-closing prorates and the management of tax appeals and payment administration are the responsibilities of Financial Services and Property Tax Management (who may seek feedback from Asset Management)
Additional Functions and Responsibilities
- Additional duties and projects as assigned
Knowledge, Skills and Abilities
- Must demonstrate Bell Core Values and work and fit well within the company culture
- Demonstrate financial acumen, research and analytical skills; strong problem solving skills and quantitative abilities; must be able to absorb large amounts of data quickly and be capable of reaching sound business decisions after reviewing available information;
- Must be resourceful, possess excellent organizational skills (i.e. handling multiple priorities and coordinating large teams) and strong written/oral communication skills;
- Demonstrate solid judgment and strong interpersonal skills (lead teams from multiple disciplines, often without direct authority, ability to motivate and work with difficult individuals as well as get the deal done without offending team members or buyers/sellers);
- Must be able to work effectively across departments and functional groups, using influencing skills
- Flexibility in working hours and travel as required to accomplish the work
- Must be proficient in MS Excel, Word, PowerPoint, and Outlook
Education and Background
- BA or BS required, BBA / MBA preferred
- Minimum 8 years of experience, at least 5 years of real estate related experience
- Preference for multi-family experience (asset management, operations, construction/rehab) and knowledge of Bell multi-family target markets
Bell Partners, Inc. (“BPI” or the “Company”) is an equal employment opportunity employer. BPI’s policy is not to discriminate against any applicant or employee based on race, color, sex, religion, national origin, age, disability, pregnancy, military/veteran status, marital status, genetic information, gender identity, sexual orientation or any other basis protected by applicable federal, state, or local laws. BPI also prohibits harassment of applicants or employees based on any of these protected categories. It is BPI’s policy to comply with all applicable state and federal laws respecting consideration of unemployment status in making hiring decisions.
Note to Applicants: Smoking is prohibited in all indoor areas of Bell Partners Inc. unless designated smoking areas have been established by a particular location in accordance with applicable state and local law.
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