Principal, Multifamily Asset Management

Principal, Multifamily Asset Management

Location: Denver, CO / Dallas, TX

Time Type: Full time

Posted On: Posted 2 Days Ago

Job Requisition ID: R5650

Position Summary
The Principal will work within the Multifamily Asset Management Group; with oversight and reporting responsibilities on a diversified, national portfolio consisting of core, value-add, and opportunistic multifamily assets. The position will work on wholly owned and JV held assets and will focus on ensuring all asset management initiatives are structured to maximize profitability and value creation for the applicable fund. The position will work closely with Portfolio Management and adjacent internal teams to ensure business plan execution and strong investment performance.

Essential Job Duties
(Principal may be directly responsible for overseeing or work closely with a JV partner to oversee)

• Oversee the operational and financial performance of a diverse portfolio of multifamily assets.
• Develop and implement comprehensive asset management strategies to maximize asset value and drive investment performance.
• Foster strong relationships with third party property management, as well as, internal and external teams, to ensure alignment with organizational goals.
• Working with senior management to ensure business plans are executed to maximize profitability while minimizing risk through financial modeling and analysis relative to underwriting, budget, and market conditions. Such analysis includes the comprehensive review of financial statements including P&Ls, balance sheets, and statements of cash flows.
• Performing Argus and Excel based financial analysis (with an asset management focus).
• Responsible for accuracy and timeliness of reporting on the portfolio: review of monthly third-party reports as well as assisting in the compilation of internal portfolio reporting.
• Review and approval of capital expenditures within the portfolio, including oversight of, and guidance to, internal and third-party construction managers.
• Managing and executing the annual budget process. This includes overseeing the timeline, preparation, and completion of annual business plans, including revenue and expense budgets, marketing plans, and valuation models.
• Maintaining and applying strong local market knowledge (i.e., competition, supply pipeline, demand drivers).
• Collaborate with cross-functional teams to support the company's growth and investment objectives, working closely with deployment/acquisitions to evaluate and underwrite new assets.
• Work closely with FP&A and Portfolio Management conducting ongoing, monthly/quarterly property and portfolio level valuation, occupancy, and NOI re-forecasts.
• Active participation in the due diligence efforts performed during the acquisition phase: specifically, underwriting assumptions (market rent, lease up timing, leasing costs, and capital improvements).
• Work closely with the disposition team on the sale of any of the assets, including valuations of the assets, due diligence materials and collection of any documents pertinent to the sale (i.e. estoppels, etc.).

Required Knowledge, Skills, And Abilities

• A minimum of 10 years direct experience in multifamily equity asset management required.
• The ideal candidate will possess a strong operational and financial acumen, coupled with a proven track record of success in managing a diverse portfolio of multifamily assets and steering property management teams towards excellence.
• Strong leadership skills with the ability to manage and motivate teams with a focus on creating accountability and driving results.
• Team-oriented individual with strong verbal and written communication skills who is comfortable working in a very entrepreneurial environment.
• Demonstrated financial analysis and budgeting skills, including Argus and Excel applications required.
• Bachelor’s Degree or equivalent experience required.
• Demonstrated ability to effectively manage transactional details required.
• Ability to effectively manage internal and external relationships.
• Ability to travel 25%-40% domestically.

Reporting Relationships
Managing Director, Real Estate Equity - Asset Management

Compensation
The anticipated base salary range for this position is listed below. Total compensation may also include a discretionary performance-based bonus. Note, the range takes into account a broad spectrum of qualifications, including, but not limited to, years of relevant work experience, education, and other relevant qualifications specific to the role.

$235,000.00 - $250,000.00

The firm also offers robust Benefits offerings. Ares U.S. Core Benefits include Comprehensive Medical/Rx, Dental and Vision plans; 401(k) program with company match; Flexible Savings Accounts (FSA); Healthcare Savings Accounts (HSA) with company contribution; Basic and Voluntary Life Insurance; Long-Term Disability (LTD) and Short-Term Disability (STD) insurance; Employee Assistance Program (EAP), and Commuter Benefits plan for parking and transit.

Ares offers a number of additional benefits including access to a world-class medical advisory team, a mental health app that includes coaching, therapy and psychiatry, a mindfulness and wellbeing app, financial wellness benefit that includes access to a financial advisor, new parent leave, reproductive and adoption assistance, emergency backup care, matching gift program, education sponsorship program, and much more.

There is no set deadline to apply for this job opportunity. Applications will be accepted on an ongoing basis until the search is no longer active.

About Us

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2024, Ares Management's global platform had approximately $447 billion of assets under management with more than 3,000 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit

Ares Management LLC (together with its related operating and administrative subsidiaries, “Ares Management”) is an Equal Employment Opportunity employer and considers all applicants for employment without regard to race, color, religion, ethnicity, creed, sex, age, national origin, alienage or citizenship status, disability, medical condition, pregnancy, marital status, partnership status, sexual orientation, status regarding public assistance, military or veteran status, domestic violence victim status, gender identity and expression, transgender status, genetic information, status as unemployed, political affiliation or any other characteristic protected by federal, state or local law.

Ares Management will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of the Fair Chance Initiative for Hiring Ordinance.