Sage Investment Group (“Sage”) acquires underutilized hotels and motels and converts them into attainable apartments for workforce renters — people who don’t qualify for subsidized housing but are priced out of market-rate rentals. That strategy hands you something most asset managers never see: managing assets across the full arc, from hotels still operating under a flag while permits are in process, through conversion, first-generation lease-up, and stabilized operations — each with its own risks and challenges.
This role reports directly to the Head of Asset Management and works closely with Acquisitions and Construction Management. You will own the financial and operational performance of a defined set of Washington State assets — analyzing results, holding third-party property managers accountable to their business plans, and surfacing the insights that drive decisions at the ownership level.
This is an operations-forward asset management role. You will spend the majority of your time on portfolio execution and property performance, while also supporting Acquisitions during diligence to validate underwriting assumptions.
Title and compensation will be calibrated to the selected candidate’s experience.
What You’ll Do
Financial Analysis & Reporting
- Monitor asset-level financial performance and identify variances against budget and underwriting.
- Write the monthly variance commentary that goes to ownership — not just the numbers, but the “why” and the recommended response.
- Prepare monthly, quarterly, and annual performance reporting for internal stakeholders and investors.
- Build and maintain cash flow models, asset valuations, and hold/sell analyses.
- Own data accuracy in our BI reporting environment for your assets.
Business Plan Execution & Property Management Oversight
- Track progress against asset-specific business plans, including renovation programs, leasing strategies, and expense management.
- Run the weekly operating cadence with our third-party property managers — setting agendas, driving follow-through, and holding regional teams accountable to leasing and expense targets.• Manage lease-up reporting and velocity tracking on new and repositioned assets, escalating early when absorption trails plan.
- During the conversion period, select and onboard the property management company, negotiate service contracts, and advise Construction on decisions that affect how the asset will operate once delivered.
- Support the execution of value-add strategies and capital improvement projects alongside Construction Management.
- Conduct market research on rent trends, occupancy, concessions, and competitive positioning to inform pricing and strategy.
Debt & Compliance
- Monitor loan covenants and debt service coverage, and flag issues before they become problems.
- Support lender reporting requirements, draw requests, and refinancing analysis.
Cross-Functional Collaboration
- Partner with Acquisitions during underwriting to pressure-test income assumptions, operating expense loads, and market conditions using real portfolio data.
- Contribute analysis and slides to the monthly business review presented to senior leadership.
- Visit properties, walk units, and build direct relationships with on-site teams.
What Success Looks Like in Year One
- Your assets hit or beat budgeted NOI — occupancy and rents at or ahead of business plan, lease-ups tracking projected absorption, and controllable expenses within budget. You catch misses early enough to close the gap.
- You've made recommendations that changed a pricing, renovation, or capital decision.
- You caught an underperforming property manager, a covenant risk, or a market shifting before it showed up in the financials.
- Your variance analysis reaches leadership ready to use — accurate, contextualized, and free of rework.
- You know every asset in your coverage: business plan, budget, debt terms, comps, and the levers that move NOI.
What We’re Looking For
Required
- 2–6 years of experience in real estate asset management, acquisitions, portfolio management, real estate investment banking, or real estate finance. Multifamily experience strongly preferred.
- Demonstrated ability to build and maintain a multifamily operating model from unit-level rent roll and operating statement data.
- Strong Excel skills, including DCF and IRR analysis; sound command of NPV, IRR, and time value of money principles.
- Ability to translate complex financial data into a clear recommendation, in writing and verbally, for a senior audience.
- Genuine interest in the operating side of multifamily — leasing, renovations, expense control, and property management performance.
- Bachelor’s degree in Real Estate, Finance, Economics, Business, or a related field.
Preferred
- Experience reviewing monthly financials produced by third-party property managers and writing the variance narrative.
- Exposure to lease-up or repositioning assets, not only stabilized operations.
- Yardi experience preferred; RealPage, CoStar, HelloData and Power BI are all a plus.
- Familiarity with loan covenant monitoring and lender reporting.
Compensation & Benefits
Base salary range: $100,000 – $125,000 annually. Title and placement within the range are based on experience and qualifications.
Annual bonus: This position is eligible for an annual bonus determined at year end at the sole discretion of the company. The anticipated range for this role is 15–20% of base salary.
Benefits include:
- Health insurance
- 401(k)
- Paid time off plus paid holidays
- Professional development
Why Sage
- Direct, daily access to senior leadership in an entrepreneurial environment where your analysis actually changes decisions.
- Real ownership of assets from day one rather than a narrow slice of a large platform.
- A growing portfolio, which means the scope of this role grows with it.
- Work that addresses the housing affordability crisis in the markets where we operate.
Sage Investment Group is an equal opportunity employer. We consider all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, veteran status, or any other characteristic protected by applicable law.