Job Description

Our Story:

From South Africa to Southern California, the ColRich story is a decades-long journey of growth, continuous reinvention and a culture of caring which we call “ColRich Thrive.” Through generations of family ownership, the ColRich brand has evolved, but the company’s foundation remains the same today as in the beginning; build lasting communities through a culture centered around innovation, humility and a commitment to helping others .

Our Bio:

ColRich is a real estate, construction and investment firm focused on value-add, residential real estate in strategic locations in Eastern, Western and South-Central U.S. markets. Our platform’s sustainability is assured through long- term ownership enabled by long-term debt and equity. We are focused on enduring, tax-efficient cash flow for our investors.

In the multifamily space, we actively maximize cash-on-cash returns and capital appreciation by acquiring existing properties with upside through extensive renovation and improved management. Leveraging our unique homebuilding background and construction platform, we reposition these older properties as design-forward, affordable workforce housing alternatives to newer Class A product.

Our new development history includes the successful entitlement, construction, marketing and sales of single-family homes, townhomes, mid-rise condominiums and apartments. Currently we are bringing to market two master-planned, destination-oriented communities offering a combined 5,000+ for sale and rental homes over a 10-year time horizon, and several individual new apartment developments (1,000+ units).

With a service matters operating philosophy, our team is passionate about supporting residents across our portfolio, building better environments that fuel happier residents, improving investor returns and creating a strong sense of purpose that drives what we do every day.

Our Current Portfolio:

ColRich’s portfolio includes $1.1 billion of equity actively invested through the end of 2023 in 78 deals across 8 states in 16 different markets. All together, our multifamily and new development activities total nearly 19,000+ housing units.

Our Approach:

A vertically integrated, hands-on approach is at the core of our company’s capabilities. Deep in-house construction, design, finance and asset management expertise ensures that our essential functions are managed internally and operationally intertwined to produce indisputable long-term value for our stakeholders. Our communities are built to last, offering enduring and stable environments where our residents will thrive.

Our DNA:

• Ever-evolving
• Hardworking
• Original thinkers
• Competitively Humble
• Personable
• Seasoned Through Adversity

Our Mantra:

Build lasting communities

Our Location:

We are based in San Diego’s Little Italy neighborhood in walking distance to the 100+ restaurants, bars & coffee shops we visit with our colleagues.

Position: Asset Manager – San Diego, CA

About the Role: The Asset Manager oversees a portfolio of apartment communities, ranging from stabilized assets to those under significant renovation. This position is accountable for the financial and operating performance of the assets, including delivering the best possible return on investment. The Asset Manager reports to the Managing Director, Asset Management and is a full-time exempt position that is not eligible for overtime.

Specific responsibilities include:

• Execute a hands-on asset management strategy to maximize revenue, expense and capital expenditure targets for each asset in the assigned portfolio. Provide critical and strategic thinking in making key decisions.
• Oversee all aspects of renovation projects, working closely with design and construction.
• Establish a thorough business plan and strategy with the objective of maximizing property long term value.
• Budget and forecast income and expense projections, capital requirements, and risk-return analysis. Track and report on the performance of the asset, against both budget and various business plan milestones. Provide cash management, including understanding investor distributions.
• Provide clear and efficient guidance to 3rd party property management organizations.
• Visit assets regularly, tour competing projects and track local market dynamics.
• Become a market expert in numerous geographies, as well as actively represent ColRich in the marketplace. Track trends in demographics, job growth, economic drivers, supply, as well as any other market forces.
• Liaise with Investor Relations & Capital Markets department to satisfying investor and lender inquiries, market tours and notifications related to significant updates.
• Collaborate with ColRich’s acquisitions teams on potential new acquisitions, including due diligence, underwriting, closing, budgeting and business plan creation.

Requirements:

• 5 to 7 years of experience in asset management, ideally with a focus on multifamily.
• Critical and strategic thinking and an intuitive sense of the dynamics and risks of each transaction.
• Ability to work both independently and as part of a team.
• Strong organizational skills and attention to detail.
• Ability to process work quickly accurately and with changing priorities.
• Excellent written and verbal communications skills.
• Outstanding computer skills, including strong MS Excel background.
• Strong character and a flexible style. Ability to work successfully with a range of internal individuals (from analysts to the CEO), as well as with external individuals (property managers, consultants and other third parties).

Benefits:

• Base salary and discretionary annual bonus competitive with industry standards
• $100,000 - $120,000 depending on experience
• Health and dental insurance paid fully at the employee level by employer
• Eligible upon hire for 401(k) plan
• Paid holidays and vacation time

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