Job Summary
The Repositioning Program Manager works under the general supervision of the Senior Vice President of Redevelopment with the primary responsibility of oversight and coordination of the property repositioning program. Responsibilities include identifying, underwriting, and managing the entirety of value-add repositioning opportunities within MAA’s portfolio of multifamily properties. Collaborates across the company as well as externally with architects, engineer and designers and architects to create project scopes, budgets, and schedules. Ensures successful capital investment returns through monitoring and reporting on the financial operating results of the repositioning projects to support management decisions based on key performance indicators.
Duties and Responsibilities
Coordinates the property repositioning program, MAA’s value-add renovation initiative focusing on amenity, common area, and exterior improvements.
Underwrites potential repositioning projects through property and market investment analysis utilizing macroeconomic market data, property financials, and comparable property characteristics to help determine optimal portfolio capital investment strategy.
Develops financial projections based on a combination of historical performance and future expectations for potential redevelopment targets. Prepares summary investment reports for senior management with investment highlights and recommendations.
Monitors MAA markets for understanding of multifamily construction pipeline, rental rate trends, other real estate development (retail, office, single-family, entertainment, etc.), and macroeconomic trends.
Prepares and distributes reports (weekly, monthly, and ad-hoc) on key metrics to help produce optimum results for the return on investment.
Uses project management tools, including financial and budget management, project scheduling, and documented plans to ensure projects complete on schedule and budget.
Collaborates with other departments to ensure required rent returns are being effectively met and support efforts to achieve premiums required for successful ROI.
Analyzes issues on a daily and weekly basis to gauge status and identify needed corrections. Proactively identifies and evaluates opportunities to improve performance within redevelopment programs with management.
Frequently interacts with property management to verify information to ensure accuracy in reports and to properly support each of the programs for success.
Provides advice to supervisors and managers to resolve redevelopment problems.
Performs other related duties as assigned to meet the needs of the business.
Required Qualifications
Bachelor’s degree in accounting, finance, real estate or a related field and 5 to 7 years of professional experience in real estate development, asset management, financial planning and analysis required, or an equivalent combination of education and experience
Financial modeling experience (ROI, IRR, payback, cash flow) required
Proficiency with Microsoft Excel and Access applications required
Preferred Qualifications
Real estate market analysis and research experience within the multifamily industry strongly preferred
Technical knowledge and experience with SQL, Essbase, Yardi or related applications preferred
Technical knowledge of RealPage, Yardi Matrix, CoStar, or other multifamily market analytics platform preferred
Master s degree preferred
Knowledge, Skills, and Abilities
Financial modeling and reporting (ROI, IRR, payback, cash flow) knowledge and expertise
Proficiency in Microsoft Excel and Access applications (e.g., table structures, data types, link tables) and other Microsoft Office applications (e.g., Word, Outlook, PowerPoint)
Knowledge of Hyperion and other financial reporting software and/or related financial reporting and accounting systems
Technical knowledge of property management operating systems (e. g., Yardi)
Quantitative and qualitative analytical skills and attention to detail to identify trends, anomalies, and/or deficiencies
Initiative and flexibility to continuously improve quality and processes and manage change
Project management knowledge and skills to coordinate projects, organize, prioritize, and meet deadlines
Skill and ability to operate and execute within a fast-paced and complex environment
Business and financial acumen
Skill and ability to communicate verbally clearly and concisely and in writing
Critical thinking, problem-solving and decision-making skills
Physical and Environmental Requirements
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand; walk; use hands to finger, handle or feel; and reach with hands and arms.
This position requires the ability to occasionally lift office products and supplies, up to 20 pounds.
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.
Disclaimer
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.