Listing Details


 

Qualified candidates contact: Christina Smith | christina@kelleraugusta.com| 617-875-3378

Vice President, Asset Management

Boston, MA

JOB DESCRIPTION

Company Overview:
Our client is a vertically integrated real estate private equity firm with a 30+ year history of successful real estate investment across asset classes and market cycles. Their platform primarily invests in value-added industrial and multifamily, providing a margin of safety and maximizing risk-adjusted returns for their investors. The firm is headquartered in Boston, with regional offices in the metropolitan New York City and Washington D.C. areas. They are currently investing two primary value-add investment vehicles, Fund III ($360 million) and Fund IV ($650 million).

Position Overview:
This team member’s primary purpose is to execute the asset management, financial and portfolio strategies in the Boston region, with a goal of achieving superior performance for each asset and the portfolio as a whole. This role is instrumental in executing strategies to maximize value from the current portfolio and in guiding considerations for future investment in Boston. The successful candidate will be a commercial real estate professional adept in sophisticated and complex asset management, leasing, transactions and redevelopment of commercial and multifamily real estate investments. Candidates will also possess superior communication skills and exceptional leadership and people management abilities, as this role will be leading and supporting several cross-functional teams to holistically support the firm’s Boston portfolio.

Responsibilities:
•Drive all leasing activities for certain assets from start to finish including engaging third-party leasing brokers and architects, identifying prospects, touring prospects, responding to RFPs, drafting letters of intent, spearheading lease negotiation efforts, managing required transaction consents, negotiating lease amendments, managing required notifications related to tenant encumbrances, etc.
•Actively work with the firm’s multifamily team on the oversight and management of both multifamily direct investments and joint ventures with the overall goal of maximizing asset values. The Asset Manager will play a critical role in developing and executing on property specific value enhancement strategies, evaluating operating performance against relevant business plan and industry benchmarks, analyzing capital investment decisions and how they impact value as well as preparing required reporting deliverables.
•Identify and analyze various scenarios for all assets to ensure the company is maximizing value and managing risk through operations. This includes identifying possible outcomes, providing economic assumptions, reviewing transaction models and documenting a proposed business case for the desired outcome based on financial/risk metrics.
•Interface with the Investment and Development teams, regarding new acquisitions and dispositions process (including due diligence) as requested.
•Participate in all and lead selective joint venture, financing, purchase and disposition negotiations.
•Support management with financial reporting at the property and investor levels.
•Participate in quarterly assessments/evaluations of current performance and future outlook for each property including hold/sell analyses.
•Conduct and oversee financial and lease analysis and asset underwriting to determine asset value, upside potential, and key risk factors.
•Understand asset-specific debt and equity sources seeking opportunistic refinancing, and/or recapitalization.
•Play a role in implementing the “value add” on all acquisitions and existing assets with ground up development and redevelopment potential.
•Participate in regular asset and portfolio management reviews and assume primary responsibility for asset managing a portfolio of properties as determined by the Head of Asset Management.
•Collaborate with property management, development, senior management, legal, and finance to achieve goals from a cross functional perspective.
•Work with finance, accounting, property management, investment, and development teams to create property and development budgets as part of the annual business plan for each asset.
•Work closely with financial reporting team to prepare quarterly investor reports, valuations, and property reforecasts.
•Manage joint-venture partner and lender relationships through regular communication, property site visits, and reporting.
•Implement and oversee capital improvement plan for each asset
•Manage real estate tax assessment and appeal efforts along with third-party consultants

Requirements:
•Significant lease transaction experience is a requirement
•Understanding of financial analysis
•7-10+ years of experience
•BA/BS required; relevant major/coursework preferred
•Strong familiarity with and established relationships within the Boston CRE market
•Must be computer savvy and have familiarity with related software programs (Argus, Excel etc.) however most analysis will be performed by analyst staff
•Ability to make frequent site visits
•Highest work ethics and sound judgment
•Ability to respond real time and to work under pressure and deadlines
•Prior experience with third party investors; building successful relationships, managing expectations, and unique reporting
•Excellent interpersonal skills with the ability to work in a team environment
•Strong written and verbal communication skills
•Excellent organizational skills, strong attention to detail and the ability to manage multiple priorities, while meeting deadlines
•Ability to communicate recommendations to Senior Management and make decisions
•High degree of personal integrity and ability to work effectively in a fast-paced team environment
•Adaptability to changing demands
•Effective problem-solving skills