Pennrose, LLC is an industry leader in multi-family, affordable housing development and management based in Philadelphia, PA. Currently, we have an exceptional opportunity for a talented individual to lead our corporate wide Asset Management function, overseeing the strategic direction and value enhancement for our growing portfolio of 12,000 multifamily units located in 16 states.
The Director of Asset Management is responsible for developing and implementing strategies that will maximize the financial performance and value of the Pennrose portfolio. This person will also be responsible for leading an asset management team and monitoring the physical and financial condition of all properties.
Summary of Key Responsibilities:
• Analyzing and measuring property financial and operating metrics and providing recommendations to property
management to improve performance.
• Aggregation and reporting of property level and portfolio financial performance to ownership.
• Establishing measurable standards for property and portfolio performance.
• Work closely with internal and third party managers to provide strategic direction by providing guidance to
executive or regional management staff to carry-out property strategies and business plans for each property.
• Establish metrics for the evaluation and development of long-term business strategies for all Pennrose
properties. Make recommendations for refinancing, disposition or other capital events to achieve determined
financial milestones or outcomes.
• Monitor the physical condition of the portfolio through periodic site visits. Work with Capital Planning teams to
ensure the long-term preservation and physical standards of Pennrose are maintained.
• Develop and maintain processes for the review of real estate tax assessments and management of tax appeals
• Responsible for utility management including developing benchmarks and identifying opportunities to reduce
• Manage ancillary revenue contracts and maximize financial benefit for Pennrose
• Develop and supervise an asset management team that keeps pace with a growing portfolio.
• Participate in new business development including involvement in acquisition opportunities.
Required Education & Experience:
• Bachelor’s degree: preferred in field of study in real estate, accounting/finance or business
• MBA and/or graduate degree in finance/real estate highly desirable
• 5-8 years’ experience in asset management or a minimum 10 years relevant multifamily real estate and financial
analysis experience. Background with affordable housing preferred
• Exceptional analytical skills, both quantitative and qualitative.
* Excellent leadership and communication skills
Since 1971, Pennrose has been working to improve the lives of working families by creating safe, secure housing communities where residents can build fulfilling lives. We recognize that our legacy will be not only be in our buildings we develop, but also the neighborhoods they improve, the residents who call them home, and the employees who demonstrate the Pennrose core values to support our mission.
Pennrose is an Equal Opportunity Employer