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Real Estate Asset Manager

Salary
Competitive
Employment
Full Time
Real Estate Field
Location
New York City
 NY
Postal Code
10016
Country
United States

This job is no longer active.

Description


Prospect Capital Management seeks an exceptional Real Estate Asset Manager to join the real estate team in its asset management group. The asset management group assists in acquisition underwriting and due-diligence, monitors and reports on post-closing operating performance and capital improvement projects, and oversees the strategic direction for Prospect’s real estate portfolio of properties. The portfolio primarily consists of joint-venture equity investments in multifamily, student-housing, and self-storage assets. 

 

Prospect has acquired 80 multifamily, student-housing, and self-storage properties aggregating over $2.6 billion in gross asset value since 2012. The Asset Management position requires strong academic credentials, prior experience in demanding real estate roles (especially multifamily real estate), and a desire to succeed in a challenging and competitive environment.

 

Firm overview

  • Founded in 1988 and headquartered in New York City, Prospect Capital Management is an alternative asset manager with $6.4 billion of capital under management.
  • Prospect pursues a diversified, yield-oriented investment strategy leveraging expertise in direct lending, sponsor finance, online lending, consumer credit, and structured credit. The firm also pursues control-oriented private equity investments in real estate and middle-market businesses.
  • Prospect has a long-term, value-oriented approach that employs fundamental bottom-up research to identify investments that offer an attractive risk/reward proposition.
  • Firm culture is a meritocracy that values entrepreneurship, intellectual rigor, perseverance, and continuous improvement.
  • Prospect’s real estate private equity business is housed within National Property REIT Corp. (“NPRC”), a private, wholly-owned REIT that currently owns a 59 property, 26,000 unit portfolio of multifamily, student housing, and self-storage assets valued at $2.4 billion.

 

Position

  • Manage joint-venture partner relationships through periodic update calls, property site visits, and analytical decision-making.
  • Collaborate with operators and/or joint-venture partners to drive operating performance and property valuation.
  • Develop strategic plans to enhance cash flow and profitability.  Monitor, review, and evaluate their execution and financial operating results.
  • Monitor, evaluate, and approve the release of funds for capital improvements and on-going property maintenance capital needs.
  • Ensure that performance and investment objectives of assets are met.
  • Identify operational problems that could impact investment values and recommend corrective measures to senior management and operating partners.
  • Compose and review annual property operating and capital budgets.
  • Review and analyze monthly and quarterly financial statements for each property.
  • Assist with quarterly valuations for all properties.

 

Requirements

  • 4-5 years of experience as an Asset Manager, ideally with an emphasis on Class B/C multifamily properties.
  • MBA or Master of Science in Real Estate preferred.
  • Knowledge of financial modeling and operating programs (Excel, Yardi, etc.).
  • Ability to clearly articulate the strategic implications of a variety of financial and operational models as developed.
  • Ability to effectively communicate with executives, members of senior management, and operating partners.
  • Ability to influence others and win support on critical issues.
  • Ability to prioritize, multi-task, and meet tight timelines.
  • Ability to make key recommendations and decisions.
  • Exceptional interpersonal, verbal, and written communication skills.
  • Willingness to frequently travel overnight and for multiple days at a time.
 

Job Function


 

Job Sector


 

Experience


2+ to 5 years


This job is no longer active.

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