VP, Asset Management - The Quest Organization

VP, Asset Management

Privately held developer, manager, and owner of retail, multifamily, net lease, and garage and office properties is seeking a VP of Asset Management.

Responsibilities:

• Responsible for the asset management of a portfolio of real estate assets, with a particular focus on retail shopping centers and other commercial asset classes.
• Continuously evaluate performance of the portfolio and develop property specific plans to ensure that the portfolio’s operations are being maximized.
• Implement short, intermediate and long-term strategies, designed to sustain or improve the value of the portfolio to maximize short-term distributable cash flow and increase long-term economic value.
• Monitor performance on a “hands on” basis, visit assets as frequently as required in order to be fully aware of and effectively oversee property performance.
• Maintain a thorough understanding of all factors affecting markets and submarkets associated with assets in the portfolio.
• Develop a working knowledge of leases, loan documents and other agreements for general responsibilities.
• Communicate frequently with the asset’s property managers to understand property operations, tenant matters and anticipated budget deviations.
• Interface with loan servicers and ensure loan compliance.
• Report on performance, budget variances and significant changes in market and property conditions.
• Prepare property business plans, operating and capital budgets.
• Review and critique operating statements, annual marketing plans and annual capital plans among other regular and special reports.
• Analyze and monitor capital improvement and renovation programs, as required, for property maintenance, competitive positioning or market re-positioning.
• Assure owner funded projects are completed on time and within budget in cooperation with in-house resources and third party consultants. Owner funded projects may include comprehensive property renovations, expansions, and property repositioning.
• Communicate continually with the senior members of the firm to apprise appropriate individuals on issues/decisions impacting assets.
• Monitor lease administration, tenant renewals, and operational requirements. Interface with tenant representatives as necessary.
• Participate in company and department-wide initiatives that may include evaluation (due diligence) of properties for acquisition or disposition among other recurring and non-recurring events.

Qualifications:

• Minimum 7-10 years of asset management experience with focus on retail and other commercial asset classes.
• Substantial experience with equity investments as a principal, across all property types in multiple geographic regions, with a focus on retail.
• Fluent in Yardi, ARGUS and Excel.
• Ability to create and implement asset repositioning strategies and manage execution of same.
• In-depth understanding of property operations and leasing.
• Experience bidding and overseeing construction projects for both asset and tenant improvement projects.
• Strong valuation, due diligence, and real estate financial analysis skills.
• Market analysis skills to support decisions concerning rent rates, capital improvement programs, leasing strategies and property repositioning.
• Superior oral and written communication skills, strong presentation, and process management skills.
• Strong work ethic. Ability to multi-task, problem solve, and work independently with minimal guidance.
• Well-organized. Strong administrative skills.
• Appropriate educational credentials