Senior Asset Manager

Southport Financial Services

Senior Asset Manager

Job Description

Southport Financial Services is a privately held national real estate and development firm specializing in affordable housing. SPF has built, acquired, and developed projects consisting of a portfolio with more than 19,000 units in 200 properties in 21 states.  Their Tampa based office who overseas development in the southeast seeks a Senior Asset Management Associate to:

• Direct oversight of property operations including budget and business plan preparation, financial reporting, supervision of local property management and leasing teams and lease negotiations.
• Create and maintain Excel (or similar) models for comparing underwriting assumptions to actual results for all investments/portfolios.  This will require new underwriting of older deals that do not have current UW models.
• Oversight of asset manager(s) and asset manager associates’ monthly, quarterly, and yearly reporting to lenders/investors to ensure compliance with requirement and covenants, REO schedules, and workflow.
• Review monthly property management/financial reports and identify operational and financial issues and address these issues accordingly.
• Review and approve property-related matters including operating expense CAM reconciliations, lease assignments/subleases, rent increases, real estate tax appeals, tenant defaults and capital improvement projects.
• Cash flow and financial modeling, including determining net cash flows, property valuations, hold/sell analysis, cash-on-cash and IRR calculations and partnership promotes.
• Read, understand and abstract loan documents, tenant lease agreements, partnership operating agreements and service contracts
• Interface with architects, engineers, legal, contractors and consultants for capital improvement projects
• Assist with aspects of insurance programs including certificates of insurance, claims and premium allocations with adherence to the requirements found in loan documents, tenant leases, service contracts and partnership agreements.
• Help design and document asset management processes and procedures. 

QUALIFICATIONS

• Bachelor’s Degree in real estate, business, economics, finance or accounting required; Master’s degree preferred, but not required

• 7+ years’ experience with an emphasis on multi-family properties, if possible is preferred
• Ability to be in details but also ability to take a step back and see the “bigger picture” at the same time is required (analytical and strategic perspective)
• Exceptional financial modeling skills, including thorough understanding of structuring cash flow models, IRR analysis, discounted cash flow valuations, complicated debt structures, including bond financing, profit distribution waterfalls and property-level cash analysis
• Knowledge of real estate accounting principles preferred and ability to review and understand both accrual and cash methods of accounting critical
• Ability to prioritize, multi-task and manage conflicting deadlines in a fast-paced environment is critical to success; time management skills essential
• Exceptional communication, interpersonal, analytical, writing and organizational skills
• Self-motivated, resourceful and proactive, both with respect to managing workload and professional development
• Strong MS office (especially Excel) required