Hello friends & colleagues! We're looking for a dynamic Director of Residential Asset Management to join our Team here at the Presidio Trust. This person is going to work side-by-side with the Business Division Team to help define the future of the Presidio's residential portfolio. From adaptive re-use, to value-add rehab, and even ground-up development…the future will be exciting! We're looking for someone with deep experience managing multiple institutional size/quality properties, and/or creating value as an asset manager in private equity real estate. If you know anyone who fits this profile, who would love to work in a National Park, who hurdles obstacles, loves people, and is an awesome teammate, please let us know!
Our ideal candidate has a strong background in financial modeling, reasoned decision-making, and identifying opportunities for increasing income streams. You have previous experience in property asset management, a keen ability to distill data to key observations and actionable recommendations, and the perfect blend of personal qualities for this relationship-based business. If you have these qualities, come help us lead a great team in celebrating one of our great National treasures, and preserving it for many generations to come!
This is a full-time position with benefits. Applications received by December 18, 2020 will receive first consideration.
- Align the operations of the residential portfolio with the strategic goals of the Presidio: People – be visited and loved by all; Planet – be a model of environmental stewardship; Performance – be a model of operational excellence.
- Primary responsibilities will include annual business plan preparation and presentation, developing monthly cash flow projections, monthly reporting, oversight of third-party service providers, capital plan oversight, business plan execution, and long-term preservation of capital assets.
- Incorporate a value-oriented approach to each asset by analyzing revenue opportunities and providing direction supported by financial models you develop to justify major capital investments and financial decisions.
- Use personal initiative, attention to detail, good judgment, and clear, collaborative, collegial communication to develop effective working relationships with colleagues, residents, 3rd parties, and others.
- Effective interpersonal, communication and listening skills necessary to form strong working relationships with all levels of management and throughout the various cross functional teams.
- Leverage monthly and quarterly financial statements, business intelligence software, and a host of analytical tools to identify property and portfolio underperformance to budget and/or market benchmarks and collaborate with relevant team members to make necessary improvements.
- Conduct frequent physical inspections of each property in assigned portfolio to develop a thorough understanding of each building and its challenges, assess implementation of strategic initiatives, assess operational and management performance, and identify opportunities for improvement and communicate those opportunities among relevant internal and external teams.
- Identify and oversee repositioning opportunities. Monitor market trends for opportunities to add value through renovation, expansion or repositioning of the assets and make recommendations based on concise financial analysis. Supervise scope development, including opining on rent premiums, and ongoing implementation to ensure ROI expectations are consistently met.
- Work collaboratively to create and refine reporting procedures, key performance indicators (KPIs), and other informational systems to track projects, and enhance communications.
- Prepare and manage a rolling 5-Year financial model for the portfolio, including Operating Statement, Cash Flow Statement, and Balance Sheet. This work to be performed in collaboration with 3rd party firms and Trust Finance Division.
- Develop and monitor housing policies, including those related to community relations, work force and below-market housing initiatives.
- Assume ownership and accountability for directing the Trust's 3rd party property management company (staff of 20+) charged with executing unit turns and capital projects, and coordinate with Trust staff on matters related to funding, design, historic and environmental compliance.
- Function with high level of ownership, accountability, independence, creativity, and urgency when warranted, in developing solutions to problems that arise.
- Other duties as assigned.
Required Qualifications & Qualities
- At least 5 years as a multifamily asset manager.
- Bachelor's degree, MBA a plus, preferably in Business, Finance, or Real Estate.
- 5-10 years minimum in the real estate industry, with specific experience in multifamily property management, asset management, and development.
- Strong financial analysis and good presentation skills are essential.
- Power user of Microsoft suite – Word, Excel, PowerPoint, Outlook, OneNote, Teams, SharePoint.
- California real estate license, construction management experience and/or advanced degree(s) in real estate development, finance, urban planning, business or law, while not required, will be favorably considered.
- MBA with concentration in real estate or finance is highly preferred, but not required.
- Working knowledge of federal affordable housing programs and standards.
About the Presidio Trust Business Division
The Business Division's mission is to develop and manage Presidio revenue sources and use these resources to maintain this National Historic Landmark District for the delight of our visitors for generations to come. We focus on rehabilitating and leasing historic buildings in the park, bringing them back to life as homes and contemporary workspaces, while maintaining excellent relations with tenants who love being here. We're home to two award-winning historic hotels; two full-service restaurants; a catering service; and five iconic structures that are available for high-quality hospitality experiences. We're proud of our role in making the Presidio successful, and sharing this beautiful place with the public.
The Presidio Trust has identified this position as subject to a standard employment background investigation which shall consist of a review of applicable county, state and Federal criminal and civil records, state bankruptcy indexes, driver's license, and a credit report. An individual's granting of a background investigation and resulting report is voluntary, however, employment is contingent upon the successful completion of the investigation. The Trust may refuse to hire an individual, rescind an offer of employment, or review and terminate the employment of a current employee who does not successfully complete a background investigation.
This position requires the completion of the U.S. Office of Government Ethics (OGE) Form 278, Public Financial Disclosure Report, both as a New Entrant into the position and annually thereafter. The purpose of the financial disclosure system is to assist employees and their agencies in avoiding conflicts between official duties and private financial interests or affiliations.