Vice President Asset Management

Real Capital Solutions•Louisville, CO

12h

About The Position

The Vice President of Asset Management is responsible for all aspects of a commercial and multi-family portfolio valued at more than $2.7B and comprised of nearly 17 million square feet across about 85 projects (office, retail, industrial, multi-family, and hospitality). This position directs a staff of four and works directly with the Finance & Accounting teams to set direction for the asset management department and the company’s real estate portfolio. This position has the overall objective of driving returns and implementing individual work-out plans, to maximize profits and value for the company’s real estate portfolio and developing and implementing department processes and procedures and management strategies. In addition to department management responsibilities, this position has direct asset management responsibilities for several properties. Current portfolio is growing, the company bout 6 properties in 2024 and 5 properties in 2025 with a goal of acquiring $900 million in 2026.

Requirements

Bachelor’s degree in business, finance, economics or related field (and/or a commensurate level of work experience in the commercial real estate arena)
Minimum 15-20+ years of experience as an asset or portfolio manager and/or analyst with emphasis office, retail, industrial and multi-family properties
Strong leadership skills to manage a growing team of highly ambitious professionals
Proficient in MS Excel, MS Word, Power Point at a minimum
Ability to perform financial analysis on prospective leases, sales, etc. to arrive at appropriate fact and numbers driven solutions for the portfolio
Excellent communication skills, both written and verbal
Proven organizational skills with attention to details
Excellent interpersonal skills with a professional and dynamic demeanor

Responsibilities

Hire, manage, train and mentor the in-house asset managers for the portfolio of properties managed in-house.
Develop and implement department procedures (leasing & marketing, property management and budgeting processes to disposition processes, etc.)
Manage 3rd party relationships for properties in the portfolio through the commercial Asset Management team (i.e., outside brokerage and property management services)
Provide supervisory guidance on the analysis, drafting and negotiation and of all new and renewal leases as necessary, and ultimately approve all leases and amendments.
Meet regularly with the Asset Management team and Commercial Finance Manager to track the properties’ occupancy, cash flow, expenses and pending capital items to maximize the overall performance of each property in the portfolio.
Work with the Asset Managers to prepare annual strategic plans for each property in the portfolio, including recommendations related to refinancing and disposition—always with an eye toward augmenting cash flow and profits/IRR to meet or exceed proforma targets and maximize investor returns
Work with the Asset Managers and the Finance team to reforecast each property’s proforma returns twice per annum (each year after the 3/31 and 9/30 actual data is finalized) and report the results to Sr. Management and the CEO
Manage asset dispositions, working with 3rd party investment sales brokers; analyze returns (IRR and profit) on potential dispositions and obtain approval from the CEO to sell, negotiate listing agreements with brokers and negotiate with interested buyers to maximize sale pricing; then, with the help of the in-house legal and finance teams, manage the disposition process (from contract to final closing)
Work with the Vice President of Debt/Capital to obtain new and renewal financing for the portfolio and work with lenders on an on-going basis to answer questions and obtain necessary approvals (e.g., on leasing and capital expenditures)
Work with the Accounting and Finance teams to ensure that all appropriate loan draw requests are made to lenders
Work with the Finance team to track debt service coverage ratios and other loan covenants to ensure compliance; coordinate loan “work-outs” and modifications, if necessary, with lenders; keep Cash Manager apprised of all potential loan pay-downs
Oversee the annual leasing and operating budget process with the Asset Management Team for each property
Review cash flow and variance reports quarterly and report to senior management and ownership any positive/negative trends – both on individual properties and the portfolio as a whole
Oversee preparation of quarterly report updates for investors, and meet in person with investors (and via phone or email) from time to time to provide more detailed updates as needed
Coordinate with the Asset Management and finance team to prepare semi-annual valuations of the properties in the portfolio for inclusion on the Owner’s (CEO’s) financial statement
Coordinate monthly portfolio update for the COO on individual properties with the assistance of the Asset Management team.
Assist in the preparation of an annual Advisory Board report on the portfolio
Mentor the asset manager team to enhance the skills and performance.
Assist the other asset managers with the sale process on their properties as needed
Continue to coordinate the national tax protest relationship with the Asset management team
Assist in creating Standard Operating Procedures for the asset management department
Vice President will be directly responsible acting as assigned asset manager for several properties, in addition to supervisory duties over other asset managers.