About the Company: Pacific Urban Investors (‘PUI’) is an industry leading multifamily investment firm and pension fund manager. PUI is focused exclusively on the multifamily rental space and has successfully deployed well-timed strategies to the benefit of its institutional partners and stakeholders.
Since its inception in 1998, PUI has completed over $13 billion in apartment transactions on behalf of its own account and those of its valued strategic institutional partners. Today, PUI has eight offices, with over sixty-five professionals and an owned apartment portfolio, in excess of $7.5 billion dollars.
Committed to the communities in which we operate and to sustainability, PUI utilizes its branded Ecologic program of initiatives to bring environmentally aware features into the communities and to each resident’s apartment home. PUI placed #1 in the nation in each of the last two years in the GRESB Environmental, Social and Governance competition, demonstrating the firm’s focus and achievement in these areas.
Job Description: Pacific Urban Investors, a leading private real estate investment firm, seeks a Senior Asset Manager who will oversee and direct operational, leasing and acquisition aspects of a Bay Area portfolio of apartment communities. The employee will report to the Area Manager of Asset Management. Furthermore, the job will be based at the Company’s Palo Alto corporate office. It will require some attendance in the office, but the position will mostly be working remotely at the various Bay Area assets and some work from home.
The SeniorAsset Manager will be responsible for “running the business” of a portfolio of multifamily apartments, including formulating and executing short-term and long-term asset management strategies, running property operations, and working with the Investment team to facilitate growth of the portfolio.
The SeniorAsset Manager will be a confident, dynamic, and sophisticated investment professional with a thorough understanding of institutional real estate, significant multifamily experience, and a demonstrated track record of value creation.
Primary Duties & Responsibilities:
Provide strategic direction for a diverse multifamily portfolio.
Develop, present, and execute comprehensive annual business plans for each asset
Work in partnership with PUI’s acquisition team on underwriting and due diligence efforts for new multifamily investment opportunities to add to your portfolio.
Manage takeover of new assets and ensure a smooth and successful transition into the portfolio.
Become the local expert in each market where you manage properties, with a focus on knowing competitive apartment communities, the development pipeline, and other economic drivers that could impact asset performance.
Manage our third-party property management firms, including working with property leasing staff, regional managers, and marketing personnel.
Manage consultants, internal construction resources, and outside contractors to renovate and improve individual assets.
Visit all properties within the portfolio to oversee the operations and on-site staff. This will entail regular travel to the portfolio properties in the Bay Area.
Provide direction to third-party property managers regarding the development of and successful execution on operating budgets, capital investment plans, leasing/marketing plans, cost control strategies, risk management strategies, and other significant operational items with the goal of increasing/maximizing value.
Review financial reporting and variance analyses and coordinate with accounting personnel to ensure that financial statements are accurately presented.
Perform property inspections to monitor performance and compliance with approved business plans and policies, as well as identify opportunities for improvement and value creation and any issues that may require additional action.
Assist with asset-level valuation reviews as needed, including: the gathering of market data, reviewing property performance and measuring each asset against its budgets and goals.
Develop positive working relationships both internally and externally (co-workers, clients, third-party property managers, consultants, and other service providers); be an active participant in local industry organizations.
Highly self-motivated, confident, and driven
Ability to work effectively in a fast moving yet collegial environment
Strong intellect and strategic thinker with solid quantitative, financial, and analytical skills
Exceptional interpersonal skills including the ability to develop strong relationships with clients, finance partners and colleagues
Proficiency with spreadsheets and other financial and presentation software, such as Microsoft Excel and Word is required; experience with Yardi accounting system, and YieldStar pricing software is a plus
Executive presence enabling effective interaction with existing clients, colleagues, and prospective clients
Impeccable integrity, trustworthiness, and reputation within the real estate industry
Education and Experience:
Minimum 5+ years of multifamily real estate experience in property management / asset management.
Bachelor’s Degree or equivalent professional experience
Strong skills and demonstrated experience in multifamily asset management and hands-on oversight of property operations
Thorough understanding of financial statements and reporting
Solid knowledge of property valuation techniques and practices
Experience with construction activities on managed assets preferred
Detailed understanding of the due diligence process; experience in real estate acquisitions is a plus
Strong interpersonal skills with a demonstrated ability to work with internal and external business partners, consultants, and clients
Ability to communicate complex issues effectively and professionally both verbally and in writing to senior management and clients
The compensation plan for this individual will be commensurate with the skills required of the position, and will be comprised of a base salary, and an annual incentive cash bonus based upon individual and portfolio performance. Employee will also be eligible to participate in the firm’s benefits program which includes health insurance options, a 401k plan, and other benefits.
PUI would like to thank you for applying; for efficiency in evaluating candidates, please provide information to the contact noted herein and do not contact staff members, directly.
Due to the volume of responses received, only qualified candidates will receive a response.
PUI is currently following a hybrid model until further notice.
Marcus & Millichap Company ('MMC') is a privately held organization, based in Palo Alto, California, with a diverse family of operating companies under its umbrella. Each MMC company is a distinct fusion of real estate specialization and innovation powered by a culture of loyalty that permeates throughout. MMC’s operating companies are in the real estate service, real estate investment and real estate development spaces. Our companies have revolutionized numerous real estate practices and set the standard of success as a result of an unwavering focus on long-term, sustainable growth, as well as a unique blending of entrepreneurial drive with institutional discipline.
Our Operating Companies:
- MMC Technology Ventures (‘MMCT’): We primarily invest in post-Series A rounds, and we are committed to helping early-stage companies grow through utilizing their products internally and introducing entrepreneurs to MMCT’s vast network of real estate professionals.
- Meridian: We are a full-service commercial developer and provider of real estate services. Our team of experienced and talented real estate professionals provide comprehensive commercial building solutions and leads the wa...y in the development of modern building facilities.
- Pacific Urban Investors (‘PUI’): We are an industry leading multi-family investment firm and pension fund manager. We are focused exclusively on the multi-family rental space.
- Hanover Real Estate Investors: Our niche is providing joint venture equity capital to local and national developers and operators of real estate to facilitate the acquisition, reposition and/or development of multi-family and single tenant properties.
- SummerHill Apartment Communities: We are a developer of multi-family and mixed-use residential projects, specializing in development of the greater San Francisco Bay Area.
- SummerHill Homes: We are a specialty builder of mid-to high-end residential homes in superior settings throughout San Francisco Bay Area focusing on in-fill development locations. We are nationally recognized for our expertise in customizing development plans to accommodate the unique characteristics of a given development site.