Job Description

Job Description

About TruAmerica

Founded in July 2013, TruAmerica Multifamily is a partnership between industry veteran Robert E. Hart and The Guardian Life Insurance Company of America. The company is based on the premise that tremendous upside potential remains in mid-tier apartment communities that can be unlocked through tailored renovation, repositioning strategies, and focused management. TruAmerica Multifamily is a privately held, fully integrated, real estate investment firm that invests in apartment communities located in primary and secondary markets throughout the country. We continue to grow by selectively acquiring, redeveloping and effectively managing multifamily properties. TruAmerica has grown to become a Top 25 apartment owner in the United States, according to the National Multifamily Housing Council (NMHC) and is the youngest manager in the NMHC Top 50. Today TruAmerica has over 60,000 units in 25 high growth markets and approximately $16 billion of assets under management.

Objective

The Asset Manager will be part of a team and assist with overseeing all aspects of a multi-family portfolio in multiple metropolitan areas. The Asset Manager will be a confident, dynamic, and sophisticated investment professional with an understanding of institutional real estate with an emphasis on multi-family experience. This position offers the right candidate an opportunity to advance skill set and participate in evaluating and implementing various new products and services (e.g., marketing, and ancillary resident services) to the overall portfolio which will provide direct value to the Organization. This position will report to the either the Director, Senior Director, or Managing Director Asset Management.

Tasks/Responsibilities

Cross Functional Relationships and Accountability:

• Ability to establish relationships across the organization; communicates to property management and to the equity partners to facilitate expectation clarity and portfolio optimization.
• Constantly communicates and strategizes with local property management group to proactively manage the revenue, expenses and resulting Net Operating Income (NOI) across assigned portfolio.
• Conducts routine site visits and inspections; discusses weekly leasing, occupancy, CapEx and/or renovations.
• Acts as the first point of contact with the debt and equity providers and investment principals.

Monthly Reporting and Financial Analysis:

• Working in concert with the TruAmerica Accounting team, and the property management accounting team to ensure all financials are delivered timely and accurately.
• Manages annual capital and operating budget associated with the overall business and approved changes to the original business plan.
• Complies with specific guidelines, budget due dates. and reporting requirements.
• Analyzes and approves monthly operating statements - reports variances as compared to the budget; incorporating action plans if necessary; proactively managing cash flow, distributions, and lender requirements.
• Maintains compliance with the various investor/equity agreements; monitoring the asset performance; returns and recommends operational or financial strategies to optimize returns at the asset level.
• Proactively analyzes economic trends for each specific asset sub-market and forecasts trends that impacts the property in regard to long/short term disposition and exit strategy changes indicated by market info.
• Actively manages Tax Appeals, Loan Compliance, Replacement Reserve Analysis, Partnership Expenses, and Ancillary Income.

Execution of the Business Plan:

• Working in concert with Acquisitions, assist with developing the business plans.
• Partners with the Construction Management department to plan, track, and execute on time and within budget.
• Maximizes income and minimizes expenses by addressing high level management turnover, resident satisfaction, reputation management, revenue management and key revenue-generating vendors.
• Creates and executes annual budgets for each asset with equity partner approval.
• Possess in-depth knowledge of the respective macro and micro markets in order to effectively communicate with investors the status, remain competitive, and maximize investment returns.
• Identify potential risks and variations from the business plans outlining effective mitigation items.
• Risk mitigation (Compliance associated with price gouging/ varies between jurisdictions/ governmental and state guidelines/ restrictions).

Abilities/Qualifications

• Highly self-motivated, confident, and driven.
• Ability to work effectively in a dynamic environment.
• Strong intellect and strategic thinker with solid quantitative, financial, and analytical skills.
• Exceptional interpersonal skills including the ability to develop strong relationships with colleagues, third party management and equity partners.
• Proficient with spreadsheets and other business software such as Microsoft Excel & Word.
• Familiarity with Real Page and other industry standard software.
• Impeccable integrity, trustworthiness, and reputation within the real estate industry.
• Possess a positive, can-do attitude with a commitment to excellence and achieving goals.
• Work effectively independently and as a member of various teams.
• Enthusiastically support innovation by testing software, processes and organizational changes and providing feedback.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Ability to sit for up to 10 hours per day
• Ability to move freely around the office for up to 10 hours per day
• Ability to communicate verbally and in writing

Compensation Range

The salary range for the role is 120,000 - 140,000

Equal Opportunity Employer

TruAmerica Multifamily is an equal opportunity employer that is committed to diversity and inclusion in the workplace. We prohibit discrimination and harassment of any kind based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic as outlined by federal, state, or local laws.

This policy applies to all employment practices within our organization, including hiring, recruiting, promotion, termination, layoff, recall, leave of absence, compensation, benefits, training, and internships. TruAmerica Multifamily makes hiring decisions based solely on qualifications, merit, and business needs at the time.

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