Multifamily Asset Manager

MIG Real Estate (“MIG”) is a private real estate investment firm headquartered in Newport Beach, California, with over $3.4 billion of real estate investments in multifamily, industrial, office, hotel and retail properties located primarily in the Western U.S. and Sun Belt. The company’s current investments include over 6,200 multifamily units, with approximately half of the portfolio located in the Phoenix metro and Southern California.

MIG is seeking a qualified individual with at least five (5) years of relevant experience to serve as a regional Asset Manager for its Arizona and California multifamily portfolio to drive above-market results, streamline processes and enhance the profitability of MIG’s multifamily portfolio. MIG requires that this candidate be located in either the Phoenix metro or Southern California, with the ability to frequently travel between markets.  MIG intends to double the size of its multifamily portfolio over the next few years and will need a highly organized, enthusiastic candidate with strong financial acumen and interpersonal skills who can execute renovation strategies and motivate property management and in-house support teams to meet stringent deadlines and realize above-market performance.  Additionally, this person should have financial analysis and acquisition experience sufficient to support and enhance MIG’s acquisition, due diligence, and disposition efforts in the region.

RESPONSIBILITIES:

The Asset Manager will be responsible for setting and implementing financial, business, and management strategies/tactics for MIG’s Arizona and California multifamily investments with the objective of maximizing value of the regional portfolio.

The person filling this position will provide hands-on asset management to successfully complete value-add business plans, acquisitions, and dispositions for the existing and growing multifamily portfolio.  The ideal candidate will have proven leadership skills, a “can do” attitude and work well multitasking under tight deadlines.  This person will drive property performance from every level and must successfully execute the value-add renovation strategies and capital projects necessary to achieve maximum return on investment. 

This position will require the following competencies:

• Strong track record of proven successful multifamily portfolio asset management (revenue enhancement, expense management, renovation projects, marketing programs, reputation management, etc.)
• Effective communicator, able to set priorities, provide direction, motivate third-party management personnel, and measure performance of selected construction and property management teams to successfully execute value add strategies
• Strong financial acumen with demonstrated ability to understand portfolio investment and financing goals and work with on-site teams to achieve above-market financial results
• Comprehensive understanding of multifamily market for all asset classes in the designated region with track record of successful execution of marketing programs and value-add strategies
• Analyze asset performance versus original underwriting and competitive set performance to adjust management strategies as necessary
• Collaborate with the Senior Revenue Manager to maximize RevPAU
• Drive performance of property managers to meet or exceed budget and business plan metrics; provide recommendations for improvement or change
• Recommend and implement strategic approach for each asset to drive traffic, leasing, and highest achievable value
• Experience managing significant capital projects, including common area and unit renovations
• Experience working with design and construction professionals to quickly achieve project execution and control costs
• Work with construction managers to develop "scope of work" for capital improvement projects; oversee operator project management and track ROI thereafter
• Ensure renovated units and condition of the overall property continually meet MIG standards and best practices
• Collaborate with acquisitions, finance, and analyst teams to complete underwriting and due diligence on new acquisitions in the region
• Frequently survey portfolio properties with property management and construction teams to establish best practices for capital preservation, ongoing maintenance, leasing effectiveness and resident retention
• Review and approve contracts, operating statements, and other related operational information
• Prepare and present annual budgets and business plans for each asset that illustrate entrepreneurial strategies for adding value and enhancing performance
• Monitor market/submarket conditions (major employers/economic drivers, new supply, strategy of competitive properties, etc.) and modify operational strategy accordingly

QUALIFICATIONS AND QUALITIES:

• Bachelor’s Degree is required, preferably in finance, real estate, business or economics
• Minimum of five (5) years of asset management experience with value-add multifamily investments
• Demonstrated ability to grow NOI through creative value enhancement strategies and proven execution
• Leadership experience with success in motivating team members to achieve goals
• Prior success in executing fast-paced renovation projects on time and within budget
• Strong analytical skills with ability to gather data and make sound recommendations for strategic action
• Strong communication skills with ability to provide clear and concise direction, support recommendations to senior management, constructively advocate or defend a position, and convey critical information succinctly, verbally and in writing
• Nimble, creative, and innovative
• Comprehensive knowledge of computer applications, spreadsheets, and modeling concepts
• Self-motivated and a team player for a fast-paced, growing company
• Professionalism and integrity are paramount qualities of MIG employees

CORPORATE CULTURE:

• Integrity, discipline, collaboration, transparency, accountability, and creativity are paramount when representing MIG
• Ability to lead and understand the importance of achieving more through teamwork with enthusiasm and independence, yet with a general directional framework set forth in a predetermined strategic plan for the region
• Sensitivity to change and ability to quickly adapt in a business world in constant evolution
• Ability to manage time, stay organized and the desire to learn and excel
• Ability to think strategically, collaborate well with a wide variety of people and value the importance of teamwork