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Conifer Realty · 7 hours ago

Asset Management Associate

Rochester, NY

Full-time

Hybrid

Mid, Senior Level

$95K/yr - $115K/yr

5+ years exp

Conifer Realty is a dynamic organization focused on creating and managing affordable housing. The Asset Management Associate will be responsible for monitoring property performance, maximizing revenue, and ensuring optimal asset value under the guidance of the Vice President of Asset Management.

Building MaterialConstructionProperty ManagementReal Estate

Responsibilities

Monitor operations of portfolio, analyze data and report to required staff and senior management. Compare site performance and projections to similar properties in the portfolio and industry data. Utilize per unit cost and consumption comparisons. Analyze variances and review with property management staff to adjust as deemed appropriate

Recommend strategies for maximizing value and returns for assets and monitor to ensure performance is meeting ownership objectives

Review assigned properties to gain thorough understanding of the 'deal' including financing, regulatory requirements, reporting and owner/investor goals. Monitor any partnership agreement amendments and understand their impact on operations

Assist property management staff in decisions that affect the asset long term to determine and understand its relationship to the established goals for the asset and determine methodology to monitor its affect

Work with property management staff to ensure that the potential of the property’s value and benefit to Conifer is maximized

Coordinate and oversee monthly/quarterly financial review of portfolio

Visit assigned sites and participate in site audits, as requested

Ensure escrow accounts are funded at the proper levels and that tax payments are correctly calculated (including PILOT’s) and made timely

Monitor reserve balances to ensure appropriate funding and draw down requests are made accurately and timely

Work with Property Finance in evaluation of possible refinancing, disposition or change of use of assigned properties

Maintain and foster relationship with lenders and investors post-closing for assigned sites

Oversee annual budget preparation process for portfolio. Compare projections to comparable experience in the portfolio and to industry data. Compare projections to original proforma and analyze variances

Assist with preparation of pro forma income statements for Development underwriting purposes and coordinate review with Property Management team

Participate in periodic review meetings for projects transitioning from Development to Operations

Assist with due diligence on potential acquisition opportunities

Financial analysis, modeling, and portfolio stress testing, as needed

Other special projects and job-related duties, as assigned

Qualification

Asset Management experienceFinancial AnalysisAdvanced Excel knowledgeMulti-Family Affordable Real EstateYardi VoyagerMS Office proficiencyAnalytical skillsBusiness judgmentAdaptability

Required

Bachelor's degree in accounting or finance required

Minimum 5-7 years relevant Asset Management experience with demonstrated institutional analytical and quantitative skills, ideally within multi-family real estate

Accounting and Financial Analysis and Budgeting Skills

Advanced Excel knowledge (Macros, Pivot Tables)

Proficiency with MS Office (Word, Excel, Outlook, SharePoint)

Adaptable; flexible to multi-task several projects at one time

Excellent business judgment, professionalism, and practices to handle day-to-day matters

Demonstrated strong analytical skills and financial modeling experience

Travel to specific Conifer site required