Careers at L+M

Senior Asset Manager, Portfolio Strategy and Asset Management

Asset Management

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L+M Development Partners Inc. (“L+M” or the “Company”), an established residential developer/builder, has an excellent opportunity for a Senior Asset Manager to join the team at L+M to focus on several primary areas as follows:

  • Develop and formalize asset management strategy and processes to maintain and improve assets (mixed-income/mixed-use residential developments)
  • Identify and execute opportunities in the portfolio including recapitalizations, dispositions, etc.
  • Provide proactive, hands-on asset management for approximately 25 assets
  • Contribute to a portfolio wide strategy to maximize value and optimize resources

Areas of Responsibilities & Job Requirements:

  • Develop annual asset management plans and propose long-term strategies for refinancing, buying out partners, resyndicating or disposing of existing properties.
  • Evaluate, assign and monitor property ratings and identify watch list properties for assigned portfolio in accordance with L+M asset management guidelines.  Work with team to prioritize issues and develop action plans to address challenges.
  • Continuously seek opportunities to optimize property performance and increase cash flow.
  • Participate in the handoff process specifically in collecting and providing due diligence as properties move from development to operations/asset management, and from operations/asset management to Resyndication and Preservation.
  • Identify all reporting requirements and work with personnel responsible for report distribution to see that requirements are met.
  • Work with property management company to prepare annual operating budgets for assigned property portfolio.
  • Analyze rent roll, lease expiration schedule, vacancy rates, unit availability and marketing/leasing efforts to maximize occupancy and collection rates.
  • Collect, review and analyze annual property audited financial statements and tax returns.
  • Analyze asset performance and benefit delivery against both annual operating budget and underwriting pro forma, maximize property level  cash flows
  • Monitor and manage compliance of assigned portfolio of properties including tenant, building and lender requirements.
  • Perform site inspections and generate/update site visit reports; Review and monitor Capital Needs Assessment and Reserve Analysis.
  • Ability to interpret, analyze and abstract the business terms included in legal documents and financial projections.

Knowledge, Skills, and Abilities:

  • Self-motivated and proactive with an established track record of getting things done effectively and independently
  • A team player, able to work in an entrepreneurial environment, balance changing priorities and meet deadlines
  • Very strong financial modeling and quantitative skills
  • Working knowledge of real estate asset management with significant exposure to multifamily underwriting, development and property management preferred. Understanding of affordable housing programs preferred
  • Comfortable navigating and analyzing transaction legal documents, financial projections and financial reports.
  • Strong interpersonal skills for establishing and maintaining effective professional working relationships with internal departments and property advisors while handling challenging situations.

Educational Requirements:

  • Bachelor degree required, Advanced degree in business, Real Estate or Urban Planning preferred

Years of Industry Experience Required:

  • 7+  years in real estate or a related field, direct asset management experience preferred, with a specific focus on retail and residential assets in the New York City metro area

Since its inception in 1984, L+M has been an innovator in developing quality affordable, mixed-income and market rate housing, while improving the neighborhoods in which it works. L+M is a double bottom line company, where its success is measured not only in financial returns but also by the positive impact it makes. L+M takes pride in its long-standing dedication to the communities it serves, demonstrated through an annual scholarship fund, job training programs, after-school programs, and substantial support for local non-profits.

A full-service firm, L+M works from conception to completion, handling development, investment, construction and management with creativity that leads the industry. L+M is responsible for more than $7 billion in development, construction and investment, and has created or preserved more than 22,000 high-quality residential units in New York’s tristate area, the West Coast and Gulf Coast regions. Community leaders, government officials and institutional investor organizations turn to L+M because of its consistent track record of excellence.

L+M brings a superior level of commitment to its investments in developments, and equally important, to its investment in people. For more information, please visit:

L+M offers competitive compensation and benefits, and tremendous potential with a growing residential real estate developer/builder organization.

L+M is an equal opportunity employer.  All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

Disclaimer: Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time

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