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Job Description Summary
As a Portfolio Manager for Preservation Asset Management, the individual is responsible for the oversight of operations and performance for an institutional investor serving as the limited partner in multifamily real estate partnerships. This role oversees a portfolio of preservation-focused multifamily investments, emphasizing cash distributions generated through ongoing operations and capital proceeds realized upon asset disposition following defined hold periods.The Portfolio Manager evaluates fund and asset performance against underwritten assumptions and investor benchmarks, develops and implements strategies to optimize operational outcomes, and ensures alignment with the investor’s objectives. The position serves as a fiduciary to the institutional investor while maintaining strong, collaborative relationships with general partners to support long-term portfolio performance.
This role reports directly to the President of RJAHI and includes supervisory responsibility for two to four direct reports. The Portfolio Manager is expected to work independently and exercise sound judgment on complex assignments requiring original thinking, initiative, and a high degree of accountability.
Job Description
Essential Duties and Responsibilities
- Oversees operational performance of multifamily assets held in institutional investment partnerships, representing the interests of the limited partner investor.
- Serves as a fiduciary for the investor, ensuring decisions align with partnership agreements, investment strategy, and return objectives.
- Evaluates asset and fund performance relative to underwriting, operating budgets, and benchmarks, with a focus on operating cash flow and exit proceeds.
- Identifies value-add and risk-mitigation opportunities and develops strategies to enhance operating performance.
- Maintains productive and professional relationships with general partners while providing oversight and accountability.
- Reviews operating reports, budgets, capital plans, and variance explanations provided by partners.
- Conducts site inspections to assess physical condition, operational practices, and compliance.
- Leads, coaches, and manages team members, setting goals and driving accountability.
- Reviews proposed deal modifications, refinancings, dispositions, or capital events and provides recommendations to senior leadership and the Investment Committee.
- Identifies and mitigates financial, operational, and compliance risks within the portfolio.
- Prepares and delivers portfolio performance reports to senior leadership and investors.
- Maintains accurate portfolio records within the RJAHI portfolio management system.
- Evaluates and refines portfolio operational policies and procedures.
- Performs other duties as assigned.
Educational / Previous Experience Requirements
Bachelor’s Degree (B.A.) in a related field and a minimum of five (5) years of relevant experience in institutional real estate investment or asset management. Supervisory and/or REIT experience preferred.
— or —
- Any equivalent combination of experience, education, and/or training approved by Human Resources.
Travel Required
- Up to 40%. Must have a valid driver’s license and be eligible for coverage under the firm’s Vehicle Fleet Safety Policy to drive on company business.
Normal business hours. Some additional hours may be required.
Remote location will be considered.
Education
Bachelor’s (Required)Work Experience
General Experience - 6 to 10 yearsCertifications
Travel
Up to 50%Workstyle
ResidentAt Raymond James our associates use five guiding behaviors (Develop, Collaborate, Decide, Deliver, Improve) to deliver on the firm's core values of client-first, integrity, independence and a conservative, long-term view.Â
We expect our associates at all levels to:
•  Grow professionally and inspire others to do the same
•  Work with and through others to achieve desired outcomes
•  Make prompt, pragmatic choices and act with the client in mind
•  Take ownership and hold themselves and others accountable for delivering results that matter
•  Contribute to the continuous evolution of the firm
At Raymond James – as part of our people-first culture, we honor, value, and respect the uniqueness, experiences, and backgrounds of all of our Associates.  When associates bring their best authentic selves, our organization, clients, and communities thrive. The Company is an equal opportunity employer and makes all employment decisions on the basis of merit and business needs.Â
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