Michael Page has partnered with a respected real estate development firm based in Houston who are looking for a talented Vice President of Asset Management to cover their growing portfolio.
Client Details
Our Client is a scrappy growing real estate developer engaged in cutting edge development projects in the greater Southeast Region of the US. They develop across a number of verticals but are particularly active in industrial and multifamily.
Description
Newly create Vice President of Asset Management will lead the design, implementation and execution of strategies, programs, policies, and initiatives for development projects from construction to lease up and beyond. The Vice President of Asset Management will ensure achievement of the financial and operating goals, and overall profitability of the portfolio.
Selected responsibilities:
- Participates and assists in formulating the annual business plan for the assigned development projects (primarily industrial and mixed use/multifamily)
- Reviews, monitors, and reports on the development portfolio's performance against budget and investment proforma by analyzing monthly operating and income statements, researching and taking appropriate actions to address variances, managing and monitoring cash flow, and preparing monthly and quarterly client portfolio/performance reports.
- Communicates with and closely interacts with the Principals of the firm and on-site team members to monitor the daily operation of the portfolio by conducting routine site visits and inspections, reviewing weekly leasing, occupancy, and revenue reports, addressing policies, procedures and compliance issues and developing strategies and programs that maximize the performance of the portfolio.
- Manages and oversees the portfolio's compliance with the established debt and equity providers, develops and provides reports to the investment principals and equity partners, monitors investment performance, returns and forecasts through financial modeling, and recommends ways for optimizing returns at the asset level.
- Gathers, complies and analyzes market, economic, and capital trends and factors impacting the performance of the multi-family portfolio, prepares and delivers presentations and updates to investment principal/investment committee, and participates in formulating the long-term disposition and exit strategy for the assets.
- Works with the third party contractors to plan for rehab and other capital improvements, and reviews and monitors progress on existing project to ensure on-time and on-budget completion.
- Leads and executes the implementation of revenue-enhancing and expense containment programs and initiatives
Profile
- B.S. Degree in Accounting/Finance and 10+ years' equivalent experience within Asset Management or similar.
- Specific asset management experience in a development firm a plus although will consider candidates with asset management experience from hands on investment management backgrounds
- Candidates must have experience within the industrial or mixed-use (with heavy office focus) categories. Multifamily a plus.
- Experience with capital improvement project management
- Experience at interpreting limited partnership agreements, financial statements, and regulatory documents
- Strong analytical skills with a good understanding of Generally Accepted Accounting Principles
Our client operate a flat organization structure and as such no job description is set in stone. They value individuals who have a "do what it takes" approach and are willing to contribute in multiple ways.
Job Offer
Market driven base salary plus bonus potential along with benefits such as health insurance, etc. Targeting a base salary in the $175,000 to $225,000 range. This is a strategic position but while the portfolio grows the incumbent will need to be comfortable acting as a player-coach.
MPI does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, disability, veteran status, marital status, or based on an individual's status in any group or class protected by applicable federal, state or local law. MPI encourages applications from minorities, women, the disabled, protected veterans and all other qualified applicants.