Jair Lynch Real Estate Partners (“JL” or “Jair Lynch”) is a leading real estate investment and development firm specializing in the transformation of walkable urban places. With a strong focus on creating extraordinary places, JL has successfully acquired, developed, and managed a diverse portfolio of residential, commercial, and neighborhood assets. We are committed to fostering a culture of creativity, teamwork, diversity, and excellence while continuously improving everything we do.
Job Summary
We are seeking an enthusiastic and detail-oriented Asset Manager to join our team. The Asset Manager is responsible for overall project execution for assigned income-producing properties and ensuring JL consistently meets business plan objectives, schedule, budget, and return metrics. Project execution will include understanding project underwriting, refining market positioning, leasing and/or sales oversight, revenue maximization, expense management, property condition maintenance, capital budgeting, property manager oversight, debt and regulatory compliance, risk management, real estate tax assessment appeals, and design and construction (as applicable). The Asset Manager will work on multiple income-producing assets simultaneously and must be able to work in a fast-paced, multiple responsibility environment, balancing competing priorities and several project assignments. Asset Manager will be supported by a Director of Project Management, associates, the Investment Management team, and others as necessary. Your contribution will help optimize our asset management practices and drive the success of our real estate portfolio.
Duties & Responsibilities
- Mentor and coach Associates working on assigned deals
- Lead the execution of the business plans for a diversified portfolio of mainly multifamily assets, many with an affordable component. High level tasks include tracking key business plan activities, reviewing operational metrics, and monitoring achievement of investment returns
- Manage day to day relationships with third-party property managers
- Oversee leasing efforts and other operational areas including regulatory compliance (e.g. Section 42 – LIHTC), risk management, capital budget, etc.
- Conduct asset operational performance review meetings with property managers to go over performance, budget variance, cap ex spending, etc.
- Prepare reporting for capital partners including monthly reports, quarterly investment dashboards and annual business plan updates
- Make regular site visits
- Negotiate project contracts and agreements, including commercial leases and third-party contracts with consultants like attorneys, insurance brokers and construction consultants when applicable
- Help with equity capital calls from conventional equity providers, as well as LIHTC investors
- Review market, economic, and capital trends affecting the performance of the project; recommended changes to the Business Plan as needed based on trend analysis; and participate in formulating the long-term disposition and exit strategy for assets
- Assist with updating project proformas for changes to operating, capital market, and investment assumptions on rents, operating expenses, cap ex needs, etc.
- Interact periodically with residents associations, community groups, and political leaders
- Support other Jair Lynch teams on debt and equity closings for acquisitions and refinancing or supplementals for stabilized assets
Requirements
- Bachelor’s degree in a field related to real estate (i.e., finance, law, property management, economics, etc.)
- Strong experience with affordable and workforce housing including LIHTC program
- Minimum of five (5) years’ experience as an asset manager for multifamily properties, particularly those with institutional equity partners or that utilize LIHTC. Prospects with or earning master’s degrees in real estate and similar fields and/or experience in property management or real estate underwriting are encouraged to apply even if they do not meet the minimum five-year work requirement
- Experience in real estate finance, multifamily rental operations and capital projects
- Strong computer skills in Microsoft Outlook, Word, Excel, PowerPoint, and MS Teams
Nice to Have
- Strong understanding of real estate and correlation between asset level decisions and financial performance
- Working knowledge of property operations and affordable housing programs.
- Excellent interpersonal, organizational, administrative, and communication skills required
- Attentive to detail, proactive, discreet and dependable
- Good judgment and initiative
- Ability to function independently but also able to work in close cooperation with others
- Adept at coordinating and prioritizing a variety of tasks and multiple project simultaneously in a fast-paced environment
- Strong project management skills, with experience managing internal and external team members at various levels with disparate project responsibilities
- Positive team player with professional demeanor who can communicate in a clear and polite manner in person, on the phone, or over meeting apps
- Excellent grammar, spelling, proofreading, and editing skills, and the ability to research information and compile it into a concise briefing
Compensation & Benefits
Range of total compensation: $125,000.00 – $175,000.00.
We offer a competitive compensation package and a positive, hybrid work environment that encourages professional growth and development. Specific benefits include company-matched 401K, comprehensive health plans, paid parental leave, transportation benefits, group life & personal accident insurance, and ongoing educational support.
EQUAL EMPLOYMENT OPPORTUNITY
Jair Lynch Real Estate Partners is an Equal Opportunity Employer dedicated to fostering a diverse, inclusive, and welcoming environment. All qualified applicants will receive consideration for employment without regard to race, religion, national origin, gender, gender identity, sexual orientation, personal appearance, protected veteran status, disability, age, or other legally protected status. For individuals with disabilities who would like to request a reasonable accommodation to fully participate in the application process, please email recruiting@jairlynch.com with the subject line “Reasonable Accommodation Request”.
Jair Lynch Real Estate Partners participates in E-Verify and will provide the Federal Government with your Form I-9 information to confirm that you are authorized to work in the United States. Jair Lynch will only use E-Verify once you have accepted a job offer and completed the Form I-9.