Vice President, Asset Management

Job Description

Primary Function

The Vice President’s overall responsibility will be to support the Asset Management Team in managing and maintaining joint venture relationships, implementing new initiatives and liaising with other departments, as well as managing the work product of the Department’s Associate.

Operational Responsibilities

  Budgeting

• Assist in the annual budgeting and quarterly reforecast processes, including coordinating with leasing, property management, finance and construction teams.
• Track financial performance and occupancy of assets compared to budget.
• Analyze lease proposals compared to budgeted terms on an NER, IRR, and NPV basis to assist leasing decisions.

  Reporting / Compliance

• Prepare and maintain reporting packages, both financial and operational, for senior management, Joint Venture partners, and lenders.
• Review loan and Joint Venture documents to clearly understand the rights and obligations of all parties to ensure compliance.

  Valuation

• Prepare internal asset valuations, using a discounted cash flow (Argus) and/or direct capitalization approach, and participate in valuation meetings. Metrics involved include internal rate of returns, time-weighted returns, sensitivity tables, cash-on-cash returns and various other return metrics.
• Prepare hold/sell analyses as required to determine the optimum time to sell assets.
• Coordinate external appraisal processes.

  Analysis

• Analyze property performance across the portfolio and create portfolio analytics to assist property management in effectively managing the portfolio.
• Evaluate markets and create presentations to identify changes/trends which impact real estate values and investment strategies, to assist in the management of the portfolio.

  Other

• Tour assets to identify potential capital projects and property management improvements that will assist leasing and enhance value.
• Interface with leasing, construction, property management, and finance teams to ensure assets are being proficiently managed and information is efficiently communicated across the platform.
• Review and analyze tenant financials to assist in the determination of the security required for both new leases and renewals.
• Assist in the debt strategy on both an asset and portfolio level.
• Other responsibilities as deemed necessary by the SVP, Asset Management.

Talent Responsibilities

  Essential Skills & Qualifications

• Expertise in working with complex Argus and Excel models, PowerPoint and Word required.
• Experience with financial modeling with an understanding of basic finance concepts such as NOI returns, cash flow returns, internal rate of return, time-weighted returns and present value/discounted cash flows.
• Comprehension of real estate terms and concepts such as net/gross leases, contracts, rents/percentage rents, operating expenses, capital expenditures, recovery of expenses.
• Strong writing skills as well as verbal interpersonal/communication skills.
• Organizational skills and attention to detail, with the ability to prioritize and manage multiple projects simultaneously.
• Demonstrate analytical skills and understanding of commercial real estate, leasing, finance, and accounting.
• Ability to work in dynamic and collaborative environment.
• Strong sense of personal motivation, responsibility, and entrepreneurship.
• Ability to travel overnight.

  Internal and External Contacts

• Regularly interfaces both verbally and in writing with management and staff within Finance and Accounting, Legal, Acquisitions, Leasing, Internal Audit, Human Resources and Investor Relations.

   Education & Experience

• BA or BS degree from an accredited institution in real estate, finance, business, accounting, economics or related area. Must have strong academic credentials.
• Candidates should have a minimum of ten years of real estate industry experience.