Asset Manager

Department: Asset Management

Location: Boston, MA

Reports to: Director, Portfolio Management

Summary

The Asset Manager at The Green Cities Company is responsible for managing a portfolio of urban/suburban residential and mixed-use properties. Reporting to the Portfolio Manager, this individual will lead strategic decision-making for assigned properties while executing strategic business plans to maximize value and total return for all assigned assets.

Responsibilities

In this role, you will be expected to:

• Manage the financial position of assigned assets, including:
• Utilizing and developing tools to manage financial position;
• Identifying, recommending, and implementing opportunities for improved performance and NOI;
• Managing finances such as budget (with variances)/pro forma, and income statements; recommending monthly property distributions;
• Forecasting future capital needs and source of funds; and
• Collaborating with the Portfolio Manager to maintain consistent performance of the overall asset per its business plan and how each property impacts the overall portfolio it resides within.
• Develop strategic plans for each property that measures performance against benchmarks previously established, set goals and objectives for each year, and update business plans as needed.
• Monitor the physical health of assets and coordinate value-add and capital improvement projects, including unit renovations, systems improvements, and re-branding of the properties. 
• Work with internal and external property management firms to consult on all areas of property management, including management planning and review, managing the physical asset, marketing/occupancy, tenant relations including tenant retention, support services, fiscal management, and risk management.
• Collaborate with design and branding, property marketing, and leasing teams to maintain a competitive position in the marketplace and effectively position the properties to achieve leasing, NOI growth, and occupancy goals. 
• Maintain a thorough understanding of principles and practices of real estate property management, local market dynamics, competitive pricing, overall supply, and other market trends to proactively manage the assets.
• Work with the Asset Management Analyst to maintain accurate and up-to-date reforecasts, Excel models, financial projections, pro formas, and quarterly valuation reports.
• Assist in loan and debt reporting requirements and monthly reports to lenders.
• Coordinate with our internal ESG team to implement sustainable practices into the management of our properties and into the programming of every property.
• Collaborate with the investment and acquisitions teams on the due diligence and underwriting of potential acquisitions and review all writing of new acquisitions prior to final bid.
• Develop post-acquisition activities, including hiring and internal, or third-party management firm(s), to ensure the successful incorporation of assets into the firm’s ownership portfolio for assigned properties.
• Lead disposition transactions and sales, ensuring all key stakeholders are involved and aligned and all disposition activities are completed as needed.

Key Behavioral Competencies

• Alignment + Strategic Prioritization – You understand the Firm’s priorities and goals. You ensure that your time is spent in alignment with the priorities and values of our firm and actively mentor or manage team members to be on the same page.
• Initiative – You actively seek out new ways of doing things and bring recommendations to the table. Once you think of, or hear about, a new solution, you implement it.
• Collaboration – You actively seek out input and support from other team members and offer your input and support when others seek you out, because you know that our problems are better solved together. You identify and include other essential team members, and routinely update and proactively communicate with all team members. You recognize, and explicitly give credit for, the skills and abilities of those you work with, trusting them to do the same for you.
• Continuous Communication – You are transparent and clear – verbally and in writing – in service to the team being on the same page. You commit to making the implicit explicit. Even when communication is difficult, you share what you know, see, feel, or experience.
• Stewardship – You promote sustainability and incorporate the Green Cities Index into your work every day. You take accountability for the role you play in driving more sustainable, resilient outcomes.

Qualifications

• Undergraduate degree with a concentration in business, finance, accounting and/or real estate preferred or equivalent years of experience.
• Experience in real estate as an asset manager, with proven experience in managing multifamily assets. Preference for our markets: San Francisco, Los Angeles, Portland, Seattle, Boston and/or Chicago.
• Experience managing a portfolio at least $500M in assets under management.
• Experience managing Class A multifamily assets in urban markets is a plus.
• Preference toward experience managing LEED Certified, Energy Star or Sustainable assets or experience implementing a green program within their portfolio.

Equal Employment Opportunity

The Green Cities Company is committed to fostering, cultivating, and preserving a culture of diversity, equity, and inclusion.  Applicants of all identities and personal backgrounds are welcomed and encouraged to apply. Additionally, we know that not everyone receives the same professional or educational opportunities, so if you don’t meet all the above qualifications but still think you would be a good fit, please apply.

Reasonable Accommodations

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The job description listed above is representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

About Green Cities

The Green Cities Company drives innovation in real estate investment management through the confluence of environmental, social and investment value. With this forward-thinking strategy and fully integrated in-house expertise, the firm acquires, manages, and develops office, mixed-use and multi-family assets. Deep experience in select U.S. markets, combined with meaningful attention to ESG considerations, positions The Green Cities Company for enhanced tenant retention and superior operations. This differentiated approach, along with disciplined risk management, encompasses the environmental footprint of an asset, the diversity and inclusivity of its community, and the wellbeing and fulfillment of its occupants and neighbors. Each member of the team is dedicated to a resilient investment portfolio that yields results to the firm’s investors, employees, tenants, and communities. Green Investing, Redefined.