Eric Lemm
Phoenix,AZ
Summary
Institutional multifamily and student housing asset manager with end-to-end experience across the investment lifecycle, from acquisition underwriting and pre-close target setting to post-close execution and disposition. Proven ability to drive NOI growth, improve cash flow, and enhance asset valuations through disciplined revenue optimization, expense management, and capital deployment. Highly effective at partnering with acquisitions, property operations, construction, portfolio management, accounting, legal, risk, lenders, brokers, and board-level stakeholders to align strategy, governance, and execution. Known for translating asset-level performance into clear, data-driven reporting for executive leadership and investment committees, while consistently positioning assets to outperform market benchmarks and maximize risk-adjusted returns.
Overview
21
21
years of professional experience
2
2
Certifications
Work History
Senior Asset Manager
MIG Real Estate
Phoenix, AZ
06.2020 - Current
- Direct $1.5B portfolio of multifamily and student real estate assets distributed throughout Phoenix, Austin, Dallas, Houston, Orange County, San Diego County, and Riverside County
- Served as owner's representative, executing business plan, identifying opportunities to enhance Net Operating Income and manage Cash Flows, exceeding underwriting expectations, and mitigating risk.
- Orchestrate and launch innovative interior unit renovation program for full and partial renovations.
- Direct multiple net operating income enhancement projects, thereby elevating property valuation through; Stern Risk, Common Area Maintenance, Managed and Reserved Parking Programs, LED Lighting Retrofits, Model Unit Removals, Doorstep Trash Service, Electric Vehicle Parking, Storage Units, Managed Wifi Network, Cable Contracts, and Pet Washing Stations.
- Direct an overhaul of the annual budget process, incorporating the development of a budget model from the ground up in a cloud-based (Workday Adaptive) environment instead of Excel spreadsheets, as well as the creation of a 200+ page cloud-based budget package for the advisory board.
- Lead Monthly Financial Reviews with operations, accounting, and construction teams
- Lead Monthly Operational Reviews with operations and construction teams
- Participate in Weekly Revenue Management calls and leverage software systems such as AIRM (revenue management), HelloData (market surveys), and Performance Analytics (benchmarking)
- Conduct recurring site visits to; gauge on-site morale and assess curb appeal and tour path, walk vacant units to evaluate condition and potential improvements, collaborate with operating partners to outline actionable next steps after assessments
- Provide mentoring guidance to fellow asset managers regarding forecasting and budgeting as well as onsite operations
- Implement 30-60-90 Day Plans and Watchlist Calls for struggling assets
- Lead transitions for dispositions, acquisitions, and property management changes
- Present quarterly operational and financial performance reports to Advisory Board.
- Present annual budgets and business plans to Advisory Board for review and approval.
- Spearhead development of 150-page playbook offering guidance to operating partners on best practices and policies and procedures
Director, Asset Management
InvestRes / Avesta
Phoenix, AZ
11.2017 - 06.2020
- Facilitated asset management, revenue optimization, and comprehensive budgeting and forecasting strategies for 14,000-unit multifamily properties.
- Directed property performance assessment, recognizing areas for improvement related to People, Product, Price, and Promotion and partnering with Operations team to execute modifications.
- Oversaw revenue management and financial analysis teams responsible for coordinating daily rate acceptances, leading pricing calls, and administering annual budgeting with quarterly forecasting efforts.
- Voting Member, Investment-Committee
- Member, Executive Leadership Team
Manager, FP&A
LivCor / Blackstone
Chicago, IL
11.2014 - 11.2017
- Managed team of seven financial analysts engaged in performing operational, asset management, and financial analyses in addition to budgeting and forecasting for Blackstone's rapidly developing multifamily asset management division.
- Directed and organized budgeting and forecasting activities for 150 multifamily properties totaling 50,000 units within four portfolios, 30 operating partners, and 35 markets.
- Orchestrated on-boarding for $2 billion Praedium multifamily portfolio acquisition featuring 11,000 units, 36 properties, and 17 operators by achieving budget reviews and approvals in less than 30 days post-contract
Senior Analyst, Operations
Waterton
Chicago, IL
08.2011 - 11.2014
- Constructed and managed financial model for budgeting and forecasting through Workday Adaptive for 20,000-unit multifamily real estate operation
- Evaluated publicly-traded companies for potential mergers and acquisitions through thorough review of SEC filings, quarterly supplemental information, and earnings releases
- Developed and upheld proprietary market and submarket scorecard that evaluates and ranks more than 82 markets and 832 submarkets throughout U.S.
- Revised research and operational metrics for quarterly earnings calls with investors.
Analyst, Asset Management
New Life Multi-Family Management
Edina, MN
03.2008 - 07.2011
- Acquired extensive experience during Great Recession executing asset management tasks related to lender lock-boxes and liens
- Streamlined multi-family property purchases through coordination of due diligence inquiries, exploration of market dynamics, property evaluations, rental comparison assessments, formulation of financial proformas, and examination of purchase contracts and lender appraisals.
- Spearheaded development of cash flow forecasts while reviewing loan documents
- Acquired extensive accounting expertise through management of financial records for 466-unit property
Intern, Finance
Camden Property Trust (REIT)
Houston, TX
05.2005 - 08.2005
- Interned in the finance department of a multi-billion dollar public REIT
- Reviewed loan documents for capital distribution terms and organized investment packages for the investment committee
Education
St Thomas University
Minneapolis, MN08-2010
Bachelor of Science - Finance
Iowa State University
Ames, IA05-2006
Skills
- Portfolio and Asset Management
- Financial Modeling and Budget Oversight
- Risk Assessment and Mitigation
- Revenue Optimization Strategies
- Market Analysis and Insights
- Accounting Policies and Procedures
- Resident Screening Best Practices
- Accounts Receivable Oversight
- Accounts Payable Oversight
- Capital Project Policies and Procedures
- Site Visit Expectations
- Watchlist Calls and 30-60-90 Day Plans
- Marketing, Financial, Operational Plans and Performance Reviews
Certification
Multi-Family Property Management - Community Investment Corporation
Timeline
Senior Asset Manager
MIG Real Estate
06.2020 - Current
Director, Asset Management
InvestRes / Avesta
11.2017 - 06.2020
Manager, FP&A
LivCor / Blackstone
11.2014 - 11.2017
Senior Analyst, Operations
Waterton
08.2011 - 11.2014
Analyst, Asset Management
New Life Multi-Family Management
03.2008 - 07.2011
Intern, Finance
Camden Property Trust (REIT)
05.2005 - 08.2005
St Thomas University
Bachelor of Science - Finance
Iowa State University