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Senior Multifamily Asset Manager

Full Time
Real Estate Field
  • Asset / Portfolio Management
Postal Code
United States

This job is no longer active.



Position:  Senior Multifamily Asset Manager

Department:  Finance & Accounting

Location: Houston, TX


Olive Tree is a real estate private equity firm focused on value-add multifamily acquisitions in high growth southern US markets. Target deal sizes range between $20 and $100 million. The firm currently owns and operates a portfolio valued over $400 million comprised of 16 communities totaling 5,000+ units in Georgia and Texas. Olive Tree is on pace to assemble a portfolio of 8,000 - 10,000 multifamily units over the next 12-18 months. The firm has been one of Atlanta’s 3 largest apartment acquirers during the past 18 months. With offices in NYC and Atlanta, the firm has 85 employees and growing. Headcount will double in the next year.

Olive Tree proactively identifies scaled, under-performing properties and acquires them at significant discounts to replacement cost. The firm then executes an asset-specific, value-add strategy to grow asset level NOI and dramatically increase the property’s valuation. Atlanta assets are managed by its wholly owned affiliate, The Life Property Management and the firm’s Houston assets are managed by a local, boutique property management partner.

The Asset Manager position will provide hands-on, active operational oversight across both the Atlanta and Houston portfolio assets. 

Job Summary:

As a member of the senior management team, the Asset Manager will be involved in every facet of the firm’s Multifamily operational management. The candidate must have substantial prior experience in managing the repositioning of value-add MF assets. The asset manager is expected to collaborate in setting property specific business plans in conjunction with the firm’s principals and in-market PM executives. Once set, the Asset Manager will oversee their execution in conjunction with in-market leadership teams.

The role will require regular travel to Atlanta, Houston, and other target geographic markets to touch every asset on a regular basis.

Duties and Functions:

  • Collaborate with firm’s principals, diligence and underwriting teams to set detailed operating and capital budgets to accelerate pace of asset re-positioning and maximize ROIC
  • Monitor appropriate daily, weekly and monthly reports to proactively identify areas where performance is lagging expectations and course-correct where necessary
  • Identify and grow the firm’s best practices catalog to cross-pollinate top ideas across markets and assets
  • Monitor the execution of large capital improvement projects across portfolio properties to make sure that costs are held in check and mitigate opportunities for wasteful spending
  • Monitor budget variances on a monthly basis
  • Visit every site on a monthly basis and prepare a standardized summary report per site to reflect areas where each team is running ahead and behind plan    
  • Generate annual business plans and establish strategic portfolio initiatives
  • Analyze the operating, leasing, marketing and management issues facing the properties
  • Review the properties’ historical performance and formalize operating budgets
  • Track the progress of capital expenditures; develop a forward-looking capital improvement program
  • Prepare a hold-sell summary based on property conditions and client investment objectives
  • Track and update the present value of portfolio assets by modeling underwriting assumptions (e.g., rental rates, growth rates, leasing projections) and select discount and capitalization rates
  • Prepare periodic reports for clients with information regarding market conditions, portfolio operating results, property level developments and disposition strategies of equity investments
  • Review each asset’s value-add program, including the progress of its unit renovation schedule, and establish leasing and pricing strategies for the re-leasing of these units
  • Generate annual business plans and strategic portfolio initiatives as needed

Qualifications and Experience:

    •   5-15 years of multifamily asset management experience
  • Proven track record in the value-add space managing re-positioning of 1970s and 1980s vintage assets a plus
  • Proficient at creating systems to improve outcomes, minimize variance of results, and lessen oversight burden
  • Strong interpersonal, organizational, and analytical skills
  • Proficient in Yardi
  • Comfort with learning and integrating innovative technological tools (the firm strongly encourages experimenting with new software platforms)
  • Substantial experience providing hands-on oversight to major rehabilitation and capital improvement projects
  • Proficient at decomposing capital improvement budgets thru granular estimation practices to make sure that budgets are set accurately
  • Ability to decompose complex problems into a set of simple, repeatable deliverables


Compensation:  Competitive Base Salary and Highly Competitive Incentive-Based Compensation


Job Functions

  • Asset Management
  • Portfolio Management
  • Property Management

Job Sector

  • Residential


10+ to 15 years

This job is no longer active.

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