Multifamily Associate Asset Manager (Boise, Idaho)

Summary:

The Associate Asset Manager will assist in guiding the performance of a multifamily portfolio.  This includes all aspects of the asset operations. The Associate AM will work closely with the third-party management teams and the lead Asset Manager to identify, recommend, and execute strategies to achieve asset-specific investment objectives. On-going responsibilities include, but are not limited to, budgeting, re-forecasts, supporting acquisitions with underwriting, renovation implementation and oversight, and joint venture management. This role is responsible for maintaining excellent working relationship with Kennedy Wilson’s peers, all third-party team members, and partners.

Company:

Founded in 1977, Kennedy Wilson is global real estate investment company headquartered in Beverly Hills, CA with 12 global offices. We own, operate and invest in real estate on our own and through our investment management platform. We focus on multifamily, office and industrial properties located in the Western United States, U.K, and Ireland. For further information on Kennedy Wilson, please visit kennedywilson.com

Key Responsibilities:

• Work closely with property managers to establish and enforce benchmarks, guidelines, and policies to clearly reinforce the business plan.
• Conduct site visits on a regular basis to include but not limited to review of items such as: curb appeal, renovation projects, asset preservation items, marketing collateral, expense approvals, budget variances, and personnel issues.
• Direct management with valid and reliable information for phases of planning including budgets, staffing, capital improvements, and other programs.
• Complete monthly review of financials and narratives.
• Review weekly project data including recaps, traffic reports, and delinquencies. Use the information to focus performance and apply strategies to meet goals and objectives.
• Troubleshoot operational execution challenges, including leasing issues, marketing, and advertising improvements, rent performance, excess turn times,
  etc.
• Participate in evaluating and make recommendations for the implementation of various new products and services intended to grow ancillary income, reduce operating expenses, or create operational efficiencies.
• Prepare and implement various renovation projects. Identify the appropriate scope of work for common areas, apartment interiors and other spaces within the community to be consistent with the targeted re-positioning of the property within the market/submarket.
• Select and engage design teams, architects, and consultants in pursuit of the best renovation project management.
• Lead vendors, contractors, and construction management teams to meet deadlines for both recently acquired and redevelopment communities.
• Prepare and track renovation budgets to ensure compliance with over budget and re-allocation requests.
• Prepare financial analysis and 10-year capital budgets accurately to reflect to overall cash needs of the asset.
• Prepare items for due diligence and acquisitions including transition plans, market valuations, and overall re-positioning plans.
• The person will be expected to add significant value to the team as well as bring leadership, strategic thinking, mentoring.
• Become an expert on assigned markets through on-site visits, in-depth analysis of industry trends and economic drivers, and collaborate with executives to implement adjustments to property strategy to account for market shifts.
• Strive to maintain a collegial working relationship to enhance future projects with all third parties while representing Kennedy Wilson/Partner interests.
• Effectively present information and respond to questions from groups of executives, investors, lenders, and partners.

Experience:

• Bachelor’s degree
• A minimum of 3 years’ experience of in-depth asset management or property management experience in multifamily real estate. The ideal candidate has a background in managing various multifamily assets through renovation (clubhouse re-builds, interior renovations, amenity upgrades, washer/dryer additions, etc.) and full lease up and has directed several property managements teams with a proven track record.

Skills:

• Demonstrated leadership and teamwork skills. Experienced manager of internal and external teams, motivating others through influence and working with strong personalities. Kennedy Wilson is a highly collaborative environment where the Asset Manager drives and owns the process but must work collaboratively throughout the process with numerous other internal teams both in the region and headquarters, including design, construction, property management, and others.
• He or she is also an independent, resourceful team player who can work autonomously and knows when to ask for support when needed.
• Project Management Skills: Has shepherded multiple renovation projects through the entire process, from concept to turnover to Property Management.
• Financial Acumen/Analytical Skills: An investment mindset with a thorough understanding of financial calculations/metrics and analytical skills. Must be well-versed in project proformas and understanding deals, and articulate, both orally and in written form, the case for a specific project.
• Communication and Interpersonal Skills: Excellent communication skills, both orally and in writing. The ability to communicate equally as well with on-site associates along with senior executives is very important.

• Organization Skills: Excellent organizational and time management skills. Able to work with time sensitive, detail-oriented material and meet multiple deadlines across various markets. Has experience managing multiple projects successfully through constantly changing priorities.
• Knowledge of Boise, Idaho, Montana, and Colorado markets is preferred.

Compensation Package:

• Competitive base salary & Discretionary Bonus.
• Comprehensive Benefits Package.
• 401K retirement plan.