National Asset Manager - Parking Assets

AvalonBay is proud to be named one of Glassdoor's Best Places to Work in 2019.

At AvalonBay, every day you can make a difference in someone's life. We take that purpose seriously and expect you will as well. From helping someone choose one of our communities as their home to providing great service throughout a resident's stay to supporting your fellow associates, your positive, professional, and consistent personal interactions make AvalonBay a great place to work. Our purpose and our core values - A Commitment to Integrity, A Spirit of Caring, and a Focus on Continuous Improvement - set us apart.

AvalonBay Communities, Inc. is one of the nation’s leading Real Estate Investment Trusts (REITs), in the business of acquiring, selling, constructing, developing, redeveloping and managing high-quality apartment communities in high barrier-to-entry markets of the United States. These markets are located in the Northeast, Mid-Atlantic, Pacific Northwest and Northern and Southern California regions of the country. We currently own and operate approximately 82,000 apartment homes in the US and employ approximately 3,000 associates. We are currently searching for a National Asset Management Manager - Parking Assets, to be based in our Arlington, VA corporate headquarters.

Based in Arlington, VA and reporting to the Vice President of National Asset Management, this person is primarily responsible for managing our Corporate Parking Management Programs and evaluating the value of our parking assets

Responsibilities:

Specific responsibilities include the following:

• Managing all third-party parking operators, including budgeting/reforecasting, monitoring performance, investigating and explaining variances to budget/reforecast and taking action to improve performance.
• Managing parking consultant relationship, utilizing them to analyze and report on parking capacity/distribution and potential responses to observed trends in parking; Integrating them into Development and Redevelopment planning processes, and, processing their success fees.
• Managing parking asset lessees, including managing the lessee RFP and selection process; Budgeting for lease income; Ensuring the timely collection of payments through cross-functional collaboration with the Retail department, and coordinating with Redevelopment Construction during planned renovation activity.
• Engaging other parking/transportation service providers to utilize parking real estate.
• Collaborating to identify Key Performance Indicators (KPI) for parking asset performance.
• Modeling parking performance to understand parking portfolio performance versus KPI and/or other metrics.
• “Owning” internal value estimates of parking assets.
• Developing and implementing plans for value creation from our parking assets by working cross-functionally throughout AvalonBay with Operations, Retail, Development and within Asset Management to identify opportunities to optimize utilization for improved NOI generation or repurposing to higher value uses.
• Developing and maintaining 10-year cash flows for parking assets, preparing performance projection reports and presentations.
• Coordinating cash flow projections with Operations, Development and Asset Management for asset level business planning.
• Evaluate feasibility of value creation opportunities, including modeling NPV for capital investment opportunities and assessing jurisdictional requirements, property physical attributes, design and cost factors critical to success.

Other national, corporate value-add Asset Management responsibilities may be assigned by your manager. Some travel is required.

Qualified candidates will have at a minimum a BA/BS degree and preferably a MBA in finance, real estate or related field, 3-7 years of experience in asset management, investments or property management within real estate and preferably involving multifamily real estate. Excellent written communication, oral and presentation skills are essential. This position involves a great deal of cross-functional interaction with internal AvalonBay groups. Our ideal candidate is a leader with the ability to motivate others and work with strong personalities. She or he is a motivated, resourceful team player who can work autonomously, take initiative and ask for support when needed. Other vital skills include:

• Knowledge of real estate property management operations and financial reporting.
• Financial acumen, starting with a fundamental understanding of valuation and creating value.
• Solid analytical skills including problem solving and the ability to develop financial analysis.
• Exceptional organization skills.
• Computer literacy, including MS Word, Excel and PowerPoint
• Ability to demonstrate strong business judgement and decision-making.

AvalonBay is proud to be an equal opportunity employer and is committed to an inclusive and diverse work environment free of discrimination and harassment.? We believe that in order to achieve our purpose of creating a better way to live, we must recruit, develop and retain associates with a wide range of backgrounds, experiences and perspectives and create an environment that encourages all voices to be heard, understood and appreciated. With this we know we can do great things.

AvalonBay will consider for employment qualified applicants with criminal histories in a manner consistent with requirements under the law.