Associate, Asset Management (Multifamily)

Company DescriptionFoulger Pratt, founded in 1963, is a real estate investment and development firm specializing in mixed-use and transit-oriented projects in the DMV metro area, North Carolina, Texas, Utah and California. The multifamily asset management team currently oversees over 8,000 units in these regions. With over 13.7 million square feet of commercial office, retail, and multifamily residential projects developed, the company leverages its deep understanding of the region’s real estate market. Foulger Pratt’s integrated teams excel in adding value across all stages of an investment’s lifecycle. Privately owned and supported by industry-leading professionals, the company operates with core values emphasizing integrity, accountability, and vision, contributing to its strong reputation.Role DescriptionThis is a full-time Associate position in Asset Management with a focus on Multifamily properties. The role involves analyzing property performance, creating and maintaining financial models, supporting property management teams, and assisting in the implementation of business and operational strategies for the asset portfolio. The role is hybrid, based in Potomac, MD, with some flexibility for working from home. Collaboration with internal teams, stakeholders, and external partners will also be an integral part of this position.Core ResponsibilitiesAsset Performance & Financial OversightMain point of contact and responsible party for at least 5 to 8 assetsConduct property site inspections and market toursMonitor asset‑level financial and operating performance relative to annual budgets, forecasts, and business plansReview monthly financial statements, rent rolls, leasing reports, and variance analysesTrack key performance indicators including occupancy, rent growth, concessions, bad debt, operating expenses, and NOIAssist with annual budget preparation, reforecasts, and long‑range financial projectionsBusiness Plan & Value‑Add ExecutionSupport implementation and tracking of asset‑level business plans, including revenue growth and expense optimization initiativesStudy and recommend ancillary income ideas such as new parking management, solar or managed wifiMonitor performance of value‑add strategies such as unit renovations, amenity upgrades, and operational enhancementsPartner with property management to evaluate pricing strategies, concessions, and leasing velocityIdentify performance risks, variances, and opportunities; escalate findings to senior asset managementCapital Expenditures & ProjectsReview and analyze recommended deferred maintenance capex to ensure alignment with business plan and cash flowStudy and recommend capital improvements that could generate additional yieldAssist with oversight of renovation and capital projects in coordination with construction and property management teamsLender & Investor ReportingAssist with preparation of monthly, quarterly, and annual lender and investor reporting packagesSupport refinancing, loan compliance, and covenant monitoring effortsMaintain asset‑level models, assumptions, and reporting templatesProperty Management & Cross‑Functional CollaborationServe as a liaison between ownership and third‑party property management teamsParticipate in regular asset review meetings and property callsCoordinate with accounting, legal, risk, and construction teams on asset‑level mattersSupport dispositions, refinancings, or recapitalizations from an asset‑level perspective when neededFoulger-Pratt’s dedication to standards and their Core Values have earned them great respect in the industries of property management, construction, and development. Employees are offered an extensive benefits package, an exciting wellness program and potential for growth within the company. Amongst the benefit offerings are:Three medical plans with HSA optionsTwo dental plansCompany paid Life and Disability.401(k)/Roth with Company MatchFlexible Spending AccountsRequirements:Bachelor’s degree in Finance, Real Estate, Business, Economics, or a related field 2–5 years of experience in real estate investment, private equity, asset management, development, or a related analytical role Strong financial modeling and analytical skills; experience modeling multifamily cash flows preferred Advanced Excel skills; proficiency with PowerPoint and Word High attention to detail and ability to manage multiple workstreams simultaneously Strong written and verbal communication skillsAbility to work in a fast-paced deadline driven environmentPosition Start:Immediate