Director, Asset Management

About The Company

Built on a foundation of integrity, respect, and commitment, JPI stands out as one of the most active real estate developers and builders in the nation.  For more than 35 years, JPI has designed and developed communities with best-in-class homes and amenities. JPI is committed to data-driven management and continuous improvement. Its team of experts utilizes data – including unparalleled market research, proven business processes, and proprietary models – to ensure that every decision is strategic, focused, and produces exceptional multifamily communities with the best risk-adjusted returns. More than just great communities, JPI is focused on leaving a lasting impact on the communities where we build and is continually committed to “Building What Matters.”  JPI operates as a subsidiary of Sumitomo Forestry, which is recognized as one of the largest home builders in the United States.

About the Job.

The Director, Asset Management is expected to engage in any or all of a broad range of responsibilities across the real estate development and construction project lifecycle. The position demands significant technical input and decision-making in relation to JPI projects, as well as the leadership and management of people in the Development Team. The Director, Asset Management, will typically be responsible for one or more of the following development disciplines:

• Development Planning
• Land Acquisition and Entitlement
• Financial Modeling
• Project Close
• Investment Ownership

Essential Functions & Responsibilities

• Oversee property build processes, including monthly funding requests and AHJ compliance requirements.

• Construction owner’s rep support

• Evaluate and respond to PCO requests and RFIs requiring owner input.

• Coordination of outside investor approval on decisions when applicable.

• Ownership of project budgets and construction finance close-outs.

• Oversight of LIHTC inspection and compliance requirements.

• Lead PSR/OAC meetings.

• Manage property sales, including broker selection, property marketing, buyer negotiation, and due diligence.

• Conduct sell/hold analysis and obtain IC approvals.

• Manage investor communications, including site tours and quarterly updates.

• Execution of refinance transactions. Oversee lease-up and leasing operations, including pricing strategy, market positioning.

• Select property managers (PMs) and execute PM agreements.

• Handle PM onboarding and pre-lease-up activities.

• Engage with AHJs for ongoing compliance of operating assets.

• Develop & implement asset management business plans.

• Handle loan conversions, cost certificates, and cost segregation reports on LIHTC deals.

Other Duties and Responsibilities:

• Other duties as assigned.

Education, Work Experience, and Physical Requirements

• A Bachelor’s Degree in Business, Finance, Urban Planning, Accounting, Real Estate, Engineering, Math or related field required.  Graduate degree and/or relevant professional certifications encouraged.

• Demonstrated experience in entitlements, executing development opportunities, working with capital partners, market analytics, asset management, property operations, and strong negotiation skills.

• Minimum of 8 years’ experience in Real Estate development, including significant multifamily development experience.

Why work for us?
 

We have a 35-year track record of developing multifamily communities with responsibility, accountability, and integrity.  Our stated purpose is to:

• Transform Building

• Enhance Communities

• Improve Lives

 

JPI has an ambitious and exciting vision for how we will achieve this, which makes for a positive and dynamic work environment, with many opportunities for personal development and growth.  As well as our highly competitive offering of compensation and benefits, we are committed to:

• Transformative careers in a transformative company

• Comprehensive training and development

• Promotion from within at all levels of the organization

• Borderless Careers, based on performance, potential, and personal ambition

Industry Recognition

• NMHC - #1 Fastest Growing Developer; #2 Fastest Growing Building; #8 Largest National Developer; # 11 Largest National Builder

• Real Page – Most active multifamily developer in DFW for the past 8 years

• Dallas Business Journal Best Places to Work – 2023

• Dallas Business Journal – Largest DFW Real Estate Developers - #11

JPI offers associates a comprehensive benefits package with competitive salaries and more, including:

• Competitive Bonus Program

• 4 Weeks PTO for All New Associates (Pro-Rated by Hire Date)

• 11 Holidays and 8 Early Release Days

• Medical, Dental, Vision, and Life Insurance

• 401(k) with Company Match (Up to 5% Match)

• Health Savings Account

• Flexible Spending Accounts (Dependent & Medical Reimbursement)

• Paid Parental Leave

• Paid Volunteer Time

• Tuition Assistance

• Phone Reimbursement

General Base Pay Range

Please note that this range is intentionally broad, as it reflects compensation for multiple roles across the organization and locations. The actual base pay offered will be determined based on a variety of factors, including the candidate’s overall experience, skills, internal equity with existing associates, and the Company’s budget at the time of the offer. This range applies to base salary only. Additional compensation, such as bonuses or incentive plans, may be available and will be discussed with the Recruiter during the interview process.

$64,000.00 - $289,000.00