Associate Asset Manager

Company: Design Build Co-Op
Location: Chicago
Posted on: April 5, 2025

Job Description:

Formerly known as Al. Neyer, Merus combines more than 130 years of commercial real estate expertise with an integrated team of company owners. We specialize in the construction, development, ownership, and management of a diverse portfolio of real estate assets across a growing footprint in the eastern U.S.We're all owners here. This not only sets us apart but deeply influences our culture and operations. Every team member demonstrates a deeper sense of ownership and accountability-in both their daily tasks and the collective success of the organization. Learn more about our culture at www.merus1894.com.Summary of ResponsibilitiesThe Associate Asset Manager plays an integral role within the Merus Real Estate Team. The Associate Asset Manager's primary role is to assist and support the Directors of Asset Management in all aspects of portfolio and asset management, coordination, and supervision of property management, fulfilling reporting requirements and monitoring individual and sub portfolio performance.Essential Job Functions

• Assist with the process of transitioning assets from development to asset management, including confirmation that documentation and information is obtained and properly recorded in the asset management system.
• Draft Asset Management Agreements and Subcontract Agreements for portfolio of assets.
• Liaison with 3rd party Property Managers across portfolio of assets and support the Director of Asset Management from RFP process at initial selection of 3rd party Property Manager, through contract negotiation, onboarding, and ongoing daily asset oversight.
• Assist with the startup activities at project turnover from development to Asset Management/Property Management including but not limited to the initial operating budget, utility transfer, assignment of the accounting function, and the setup of property and liability insurance.
• Collaborate with internal and external stakeholders to gather necessary data and assist in the creation of annual budgets and detailed financial reports.
• Conduct periodic site visits to review the physical condition of the assets in the portfolio.
• Evaluate monthly draw requests for construction loan proceeds against the property budget and provide recommendations to Director of Asset Management for approval.
• Assist with the preparation of monthly reports that present property performance along with progress on strategic initiatives for management and investors.
• Prepare rent rolls, invoices, and CAM reconciliations.
• Maintain and update databases relative to tenant contacts, vendor contacts, property information and portfolio information.
• Assist with the coordination of new tenant move-ins and move-outs.
• Ensure timely rent collection by coordinating with property managers monthly and prepare and distribute comprehensive rent collection reports to internal stakeholders.
• Review and approve property-level invoices in Spectrum on a weekly basis to ensure accuracy and compliance with financial guidelines.
• Nimble Learning - Actively learning through experimentation when tackling new problems, using both successes and failures as learning.
• Action Oriented - Taking on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm.
• Demonstrates Self-Awareness - Using a combination of feedback and reflection to gain productive insight into personal strengths and weaknesses.
• Self-Development - Actively seeking new ways to grow and be challenged using both formal and informal development channels.
• Instills Trust - Gaining the confidence and trust of others through honesty, integrity, and authenticity.
• Customer Focus - Building strong customer relationships and delivering customer-centric solutions.Position Requirements
  • Possess creativity, independence, initiative, and high levels of integrity.
  • Proven track record of high performance in prior work.
  • Strong computer skills with the ability to use Microsoft Excel.
  • Position to be located in Cincinnati, Ohio.
  • Ability to travel to other company locations/properties.Qualifications and Experience
    • 1-2 years of experience in real estate finance, asset management or another related financial service field.
    • College degree in Business Administration, Finance, Economics, Real Estate, or similar.
    • Experience with one or more property types strongly preferred: office, multifamily, and industrial.
    • Experienced in investment analysis and financial modeling in Excel.
    • Experienced with real estate market research and relevant data providers (e.g., CoStar, Yardi) a plus.Safety Hazard of the JobNormal safety hazards associated with office work, and with occasional observational visits to construction sites.Physical DemandsLow physical effort required to sit, stand at files, bend, stoop, lift, and walk. Maximum unassisted lift is 35 lbs. Average lift is less than 10 lbs. Requires ability to use a keyboard and monitor. Also requires the ability to communicate verbally, both in person and on the telephone. May require some travel by car.Average inside office environment. Average office noise levels. No personal protective equipment is required. Ambient temperature is between 68F and 76F.This job description is not intended to be all-inclusive. The employee will also perform other reasonably related business duties as assigned by their immediate supervisor and other management as required. This job description is not a contract or offer for employment, and either you or Merus may terminate employment at any time for any reason.
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Keywords: Design Build Co-Op, Chicago , Associate Asset Manager, Executive , Chicago, Illinois