Location Confidential
Salary Estimate: Confidential
Employment Type: Full Time
Work Place: Office
Experience Required: More than 15 years
Education Required: 4 Year College
Job Description
Location: Midwest
Company Overview:
Our client is a long-standing real estate focused private equity firm that invests in a wide variety of opportunistic and value-oriented commercial real estate transactions. The firm invests throughout the United States in single property transactions and multiple property portfolios whereby the investment strategies are based on property-level operational enhancements, as well as those with pricing advantages that arise from distressed, complex, and dislocated scenarios. Over the past three decades, they have invested in more than $30 billion of commercial real estate on behalf of a diversified and highly regarded group of endowments, foundations, public and corporate pension plans, financial institutions, family offices, and sovereign entities.
Position Overview:
Our client is seeking a strategic, growth-oriented Managing Director, Asset Management to join its Midwest headquarters. As the Head of Asset Management this position will be responsible for overseeing a national portfolio of assets. This individual will help develop and drive both portfolio and asset level performance across the firm’s equity and credit strategy.
Primary Responsibilities:
• Provide guidance to the investments team to direct sourcing focus and evaluate acquisition
opportunities across the Value Funds.
• Ensure the firm is maintaining and furthering its edge as an equity investor through superior market and asset selection, vertical integration, use of technology and data, and ESG leadership.
• Direct the implementation and execution of business plans for all assets (primarily multifamily and industrial), with responsibility for engaging and managing providers of property management, construction management, and other vital services.
• Determine key data needed for investment decision making and client communication and work cross functionally to produce in conjunction with the firm’s broader data strategy.
• Ensure property business plans optimize investment performance. Lead and coordinate the effort of formulating Annual Portfolio Business Plans that set forth acquisition, portfolio, and asset management strategies (including re-buy analysis, repositioning, financing/refinancing, and restructuring and disposition) to achieve fund objectives and update plans as necessary.
• Visit markets and properties to validate business plan assumptions, monitor property operations, and identify opportunities and issues to improve operations.
• Stay informed on market information and help guide our client’s Research team to inform their viewpoint and recommend a course of action for each market they cover.
• Explore new strategic business opportunities and oversee the firm’s entry into niche housing sectors.
• Work collaboratively with acquisition resources to identify and close on investment
opportunities in these areas. • Aid in the formulation, establishment, and implementation of portfolio strategies for the Value Funds and work with client relations to assist in developing product marketing materials and related collateral.
• Deliver portfolio and investment updates and present investment opportunities to key clients and prospects. Maintain and grow investor relationships.
• Provide direction and support to investor relations and reporting staff to ensure best-in-class client communication.
• Develop excellent working relationships with all team members including JV partners, property managers, project managers, and third parties.
• Negotiate and/or sign off on all investment level and fund level documentation, such as partner JV agreements.
• Responsible for managing joint venture relationships, which includes regular travel to out of state investments to monitor business plans.
• Lead the quarterly valuation and review efforts for all assets, on understanding asset performance and determining key assumptions for re-forecasting. This also includes helping to prepare for annual company audit.
• Guide all major transactions post-acquisition, including all refinancings or debt modifications as well as the ultimate disposition of assets, working with Finance, Legal, and other internal departments on such efforts.
• Coordinate key risk mitigation efforts internally, including working with Finance team to understand insurance programs, debt hedging strategies, real estate tax abatement and assessment process, and other key risk mitigation tools.
Requirements:
• Bachelor’s degree required; Advanced Degree is a plus.
• 15+ years of in-depth asset management or investment management experience in residential and/or industrial real estate management, development and/or related disciplines.
• Experience managing projects and complex capital/redevelopment projects for an ownership group strongly preferred.
• Proven experience managing large, complicated real estate assets throughout major US markets.
• Strong analytic and quantitative skills, a finance driven approach to the business including confidence in working with Excel analysis. Experience with ARGUS and MS Office programs is preferred.
• Extensive experience within a multifamily operating company with in-house asset and property management services ideally across multiple markets, preferably in different regions across the country is ideal but not required.
• Experience managing projects and complex capital/redevelopment projects for an ownership group strongly preferred.
• Extensive experience with institutional quality tenant improvements, interior base building construction, vendor options and selection, and the repositioning of assets and property dispositions.
Company Overview:
Our client is a long-standing real estate focused private equity firm that invests in a wide variety of opportunistic and value-oriented commercial real estate transactions. The firm invests throughout the United States in single property transactions and multiple property portfolios whereby the investment strategies are based on property-level operational enhancements, as well as those with pricing advantages that arise from distressed, complex, and dislocated scenarios. Over the past three decades, they have invested in more than $30 billion of commercial real estate on behalf of a diversified and highly regarded group of endowments, foundations, public and corporate pension plans, financial institutions, family offices, and sovereign entities.
Position Overview:
Our client is seeking a strategic, growth-oriented Managing Director, Asset Management to join its Midwest headquarters. As the Head of Asset Management this position will be responsible for overseeing a national portfolio of assets. This individual will help develop and drive both portfolio and asset level performance across the firm’s equity and credit strategy.
Primary Responsibilities:
• Provide guidance to the investments team to direct sourcing focus and evaluate acquisition
opportunities across the Value Funds.
• Ensure the firm is maintaining and furthering its edge as an equity investor through superior market and asset selection, vertical integration, use of technology and data, and ESG leadership.
• Direct the implementation and execution of business plans for all assets (primarily multifamily and industrial), with responsibility for engaging and managing providers of property management, construction management, and other vital services.
• Determine key data needed for investment decision making and client communication and work cross functionally to produce in conjunction with the firm’s broader data strategy.
• Ensure property business plans optimize investment performance. Lead and coordinate the effort of formulating Annual Portfolio Business Plans that set forth acquisition, portfolio, and asset management strategies (including re-buy analysis, repositioning, financing/refinancing, and restructuring and disposition) to achieve fund objectives and update plans as necessary.
• Visit markets and properties to validate business plan assumptions, monitor property operations, and identify opportunities and issues to improve operations.
• Stay informed on market information and help guide our client’s Research team to inform their viewpoint and recommend a course of action for each market they cover.
• Explore new strategic business opportunities and oversee the firm’s entry into niche housing sectors.
• Work collaboratively with acquisition resources to identify and close on investment
opportunities in these areas. • Aid in the formulation, establishment, and implementation of portfolio strategies for the Value Funds and work with client relations to assist in developing product marketing materials and related collateral.
• Deliver portfolio and investment updates and present investment opportunities to key clients and prospects. Maintain and grow investor relationships.
• Provide direction and support to investor relations and reporting staff to ensure best-in-class client communication.
• Develop excellent working relationships with all team members including JV partners, property managers, project managers, and third parties.
• Negotiate and/or sign off on all investment level and fund level documentation, such as partner JV agreements.
• Responsible for managing joint venture relationships, which includes regular travel to out of state investments to monitor business plans.
• Lead the quarterly valuation and review efforts for all assets, on understanding asset performance and determining key assumptions for re-forecasting. This also includes helping to prepare for annual company audit.
• Guide all major transactions post-acquisition, including all refinancings or debt modifications as well as the ultimate disposition of assets, working with Finance, Legal, and other internal departments on such efforts.
• Coordinate key risk mitigation efforts internally, including working with Finance team to understand insurance programs, debt hedging strategies, real estate tax abatement and assessment process, and other key risk mitigation tools.
Requirements:
• Bachelor’s degree required; Advanced Degree is a plus.
• 15+ years of in-depth asset management or investment management experience in residential and/or industrial real estate management, development and/or related disciplines.
• Experience managing projects and complex capital/redevelopment projects for an ownership group strongly preferred.
• Proven experience managing large, complicated real estate assets throughout major US markets.
• Strong analytic and quantitative skills, a finance driven approach to the business including confidence in working with Excel analysis. Experience with ARGUS and MS Office programs is preferred.
• Extensive experience within a multifamily operating company with in-house asset and property management services ideally across multiple markets, preferably in different regions across the country is ideal but not required.
• Experience managing projects and complex capital/redevelopment projects for an ownership group strongly preferred.
• Extensive experience with institutional quality tenant improvements, interior base building construction, vendor options and selection, and the repositioning of assets and property dispositions.
Related Jobs
You have successfully applied for this role!
You can view the status of your application from your dashboard.
