Vice President, Asset Management, Multifamily

The Lightstone Group, LLC•Lakewood, NJ

2d•Hybrid

About The Position

Lightstone is seeking a Vice President, Asset Management – Multifamily to oversee and drive performance across Lightstone’s third party managed national portfolio of approximately 8,500 Class A and B multifamily units. This individual will play a critical leadership role in executing asset-level business plans, optimizing operating performance, and maximizing investment returns across the portfolio. The role requires a highly analytical and strategic professional with deep experience across multifamily investments and operations, managing third-party property managers, driving revenue and expense performance, and collaborating closely with Acquisitions and Debt teams. The Vice President will act as a key bridge between ownership and operations, ensuring alignment of investment strategy with on-the-ground execution. The role will also play a key role in reviewing new equity and debt investment opportunities, overseeing acquisition due diligence and closing process. The role will report to the Senior Vice President of Multifamily Asset Management and Investments.

Requirements

10–15+ years of experience in multifamily asset management, real estate private equity, or related investment roles
Proven experience overseeing institutional-quality multifamily portfolios, including both Class A and B assets
Strong track record of managing third-party property managers and driving operational performance
Experience with acquisitions, underwriting, and investment analysis
Advanced financial modeling and analytical skills (Excel proficiency required)
Familiarity with property management systems (Yardi, MRI, etc.)
Strong understanding of revenue management, leasing strategy, and expense optimization
Experience with capital projects / value-add execution
Excellent communication and presentation skills, with ability to interface with senior leadership and external partners
Ability to operate in a fast-paced, entrepreneurial environment and manage multiple assets and priorities
Ability to travel on a regular basis to drive asset performance and evaluate new investments

Nice To Haves

Experience working with or overseeing national portfolios across multiple markets
Background in real estate private equity or institutional investment platforms
Exposure to development or redevelopment projects

Responsibilities

Oversee asset management of a national multifamily portfolio (~8,500 units), including Class A and B assets across multiple markets
Manage and oversee third-party property management companies ensuring accountability on: Leasing performance and occupancy, Revenue management and pricing strategy, Operating expenses and NOI growth, Capex execution, including unit renovations and capital projects
Develop and execute asset-level business plans, including value-add strategies, repositioning initiatives, and long-term hold/sell decisions
Conduct regular performance reviews, including: Monthly and quarterly financial analysis, Variance reporting vs. budget and underwriting, KPI tracking (rent growth, occupancy, concessions, turnover, etc.)
Lead budgeting and reforecasting processes in partnership with property management and finance teams
Monitor market and submarket performance for macro/ micro investment and operating trends
Maintain knowledge of investment and valuation trends
Partner with Acquisitions team on: Underwriting new investments, Investment committee materials, Market and asset-level due diligence, Transition and onboarding of newly acquired assets
Support financing initiatives, including lender reporting and refinancing execution
Oversee capital expenditure planning, ensuring ROI-driven deployment of capital
Conduct frequent site visits and property inspections to ensure alignment with business plans and identify operational improvements
Prepare and present investment memos and portfolio updates to senior leadership
Mentor and manage junior asset management and analyst team members, fostering a high-performance, analytical culture

Benefits

Paid time off for vacation and sick leave
Health, dental, and vision insurance, and wellness programs
401(k) and Roth retirement plans
Flexible spending accounts (medical & dependent care)
Life and AD&D insurance with options for supplemental employee, spouse, and child
Long-term and short-term disability insurance
Commuter spending accounts (transit and parking)
Tuition assistance and employee assistance program
Corporate discount programs
On-site mother’s room
Office perks such as lunch, fruit, drinks, and snacks