Vice President of Asset Management

VP of Asset Management

Classification: Full-Time

Compensation: $120,000 - $180,000 Per year depending on experience, eligible for benefits

BENEFITS:

1. Health, Vision, and Dental Insurance
2. 15 days of PTO and 10 paid holidays
3. Paid parental leave
4. 401K Plan with up to 6% matching
5. Continued Education Program
6. Employee Assistance Program
7. Short-term Disability Insurance

Team: Redstone Residential is a national student and conventional housing operator, headquartered in Provo, Utah. Managing more than 35,000 leases and operating in 18 states, Redstone is the 5th largest 3rd party management company in the U.S.! We were also listed as one of the Top Workplaces in Utah in 2021, 2022, and 2023!

Redstone's purpose is "to empower our people and elevate communities." We achieve our purpose by embodying our core values:

1. We Are Believers
2. We Communicate Authentically with Care
3. We Stay The Course
4. We Drive Performance

Position Summary: The Asset Manager will be responsible for maximizing the value of the firm's assets. This individual will develop and execute an asset management strategy including due diligence efforts, investment market assessments, and property underwriting assumptions. This position will be responsible for the success of the Redstone-owned property portfolios and will oversee all property-level business plans.

Responsibilities (Including but not limited to):

1. Assume responsibility for and drive on-time, on-budget, and market-leading investment results, balancing financial and reputational returns.
2. Lead annual budgeting process, including operating and capital budgets.
3. Monitor portfolio performance, including net operating income, cash flow, and asset value fluctuations, while achieving asset value maximization strategies.
4. Collaborate with portfolio strategy team to set and execute strategy for existing assets; establish operating performance objectives and actions to achieve targets.
5. Oversee property support functions including insurance, reserves, real estate taxes, etc.
6. Direct broker's activities including negotiating leases, dispositions, and refinances.
7. Prepare regular and ad hoc reports for internal and external stakeholders.
8. Develop recommendations regarding the timing of dispositions to maximize value and then execution of the disposition strategy in conjunction with the investments and property operations teams.
9. Coordinate value-creation projects and capital improvements.
10. Support accounting and finance including refinances, lender information requests, and general accounting.
11. Develop property analytics, support reporting, and assist with special projects.
12. Light to moderate travel.

Qualifications:

1. Bachelor's degree in Business, Economics, Finance, Real Estate, or a related field.
2. 6+ years of accounting experience is required.
3. 6+ years of financial analysis is required.
4. 5+ years of leadership experience is required.
5. 2+ years of experience in the real estate industry is preferred. Specifically in asset or property management with significant exposure to multifamily or student housing asset types.
6. Expertise in property management/leasing/operations/investor relations.
7. Knowledge of MS Word and Excel, and G-Suite products, Entrata a plus.