Company Overview:
Committed to excellence in both investment performance and operations, the firm was founded over 45 years ago and has earned a reputation for integrity, creativity, and excellence, making it one of the premier real estate investment, development, and management firms in the Eastern United States. Headquartered in Boston and with offices in New York and Pittsburgh, the company has a team of 100+ dedicated professionals who have invested more than $9 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique combination of capital markets, development and management expertise allows this team to nimbly tackle complex opportunities. Directly, and with its valued partners, our client has owned and managed approximately 28 million square feet of commercial space and 11,000 residential units. The firm invests in life science, multifamily, industrial, storage, office, hospitality, and retail among other property types. Our client believes their most valuable asset is their people. They strive for excellence in all their pursuits and take pride in maintaining a collaborative and career enhancing experience for their employees.

Position Overview:
This Senior Vice President Asset Management, Multifamily Assets will oversee the financial performance and asset management needs of the for-sale and rental residential assets of the firm, including Fund and Legacy properties.

Working with and reporting to the Chief Portfolio Management Officer, this role is expected to formulate and implement an asset management program for the residential portfolio helping to grow the Residential Vertical by working across functional teams of the firm’s employees, including key personnel within the Investments, Development, Finance, Accounting, Legal and Investor Relations groups. This role will also oversee all third-party property management teams and joint venture partners connected to the residential portfolio.

This individual is expected to institute best practices and systems to obtain the highest possible return on the owner’s investment by timely consultation and approval of all projects from acquisition to implementation to disposition of the asset(s). This position will review operating and capital budgets, assist with market gathering information and develop the necessary collateral, review financial and performance metrics, monitor asset valuations as required as well as participate in advising on the development of new projects. The position will help drive major capital transactions of multifamily assets starting with input on acquisition and refinancings and orchestrating asset dispositions.

This role is viewed as a major catalyst in helping to grow and institutionalize our client’s multifamily platform.

Responsibilities:
• Direct the implementation and execution of business plans for all multifamily assets, with responsibility for engaging and managing providers of property management, construction management, and other vital services.
• Responsible for managing multifamily joint venture relationships, which includes regular travel to out of state investments to monitor business plans.
• Co-lead the Residential Vertical with counterparts from Investments and Development to set overall investment strategy in the residential vertical and manage and/or develop key relationships in the multifamily space.
• Lead the quarterly valuation and review efforts for all multifamily assets, in coordination with the Chief Portfolio Management Officer, focusing on understanding asset performance and determining key assumptions for re-forecasting. This also includes helping to prepare for annual company audit.
• Routinely update senior professionals on status of projects and portfolio performance. Provide scheduled reporting on all multifamily investments on a timely basis.
• Alert the Deal Team to potential issues as they arise (and work with that team to evaluate solutions).
• Lead oversight of the portfolio to achieve developed and measurable Asset Management near-term and long-term goals and objectives; coordinate regular review of financial and operating results to ensure asset performance relative to those goals and objectives.
• Oversee all capital improvements programs on multifamily assets, working with construction managers, vendors, and other resources to maintain cost budgets and delivery schedules and to ensure that property operations are well coordinated with construction efforts.
• 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.
• Collaboration with property management in order to formulate or adapt Multifamily business plans incorporating interdisciplinary and cross-functional due diligence, review, analysis and recommendations for the future positioning or repositioning of Multifamily portfolio assets. This effort includes the timely submission of annual operating budgets and reforecasting as needed.
• Work with Investments, Property Management, and Development groups to coordinate due diligence efforts on new investments and ensure consistency and quality of underwriting assumptions.
• 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.
• Work with IT, Accounting and the Chief Operating Officer to help develop and advance the multifamily reporting.
• Active engagement in outside multifamily associations both locally and nationally.
• Help identify and pursue new investments working closely with multifamily counterparts in Investments and Development.

Qualifications:
• Bachelor’s degree required; Advanced Degree is a plus
• 15+ years of in-depth asset management or investment management experience in residential real estate management construction or engineering, development and /or related disciplines.
• 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.
• Detail-oriented with a solid ability to think and communicate strategically.
• Project management skills and the ability to multitask and prioritize workload efficiently and effectively with little direction.
• Enterprising and leadership skills needed to help grow the vertical.