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As an Investment Vice President, you will be assigned a broad range of responsibilities including, but not limited to, monitoring and influencing performance of portfolio properties, managing partner relationships, and mentoring and developing junior team members. You will showcase your success through collaboration, ownership, and innovation. Your expertise in emerging trends and practices will evoke stimulating discussions around optimization and change to help keep our competitive edge.
The ideal candidate will be required to manage both operating assets as well as development projects from construction through stabilization. They should have an understanding of basic real estate terms and concepts such as net leases, gross leases, contracts, rents, percentage rents, operating expenses, capital expenditures, recovery of expenses, property types and basic finance concepts such as NOI returns, cash flow returns, internal rate of return, present value/discounted cash flow, capital markets.
What you can expect
- Provide general asset management and strategic direction for a portfolio of properties, which includes frequent contact and direction with community managers and operating partners.
- Evaluate potential development transactions in terms of overall deal strength as well as portfolio suitability. Review initial documentation for transactions — interacting with partners, lenders, attorneys, and deal team. Monitor the construction process and manage issues with partners, consultants, and lenders.
- Oversee the budget process and preparation of the annual strategic plan for each property in the portfolio.
- Review periodic property reports and track operating performance in the context of fund level portfolio management and reporting. Prepare regular updates summarizing results and respond to information requests.
- Serve as the market expert in assigned territories. Understand general trends and individual property markets / submarkets.
- Review quarterly appraisals for factual accuracy and consistency with other similar properties.
- Provide assistance to the transactions team for both the acquisition and disposition of properties.
- Conduct analyses of various investment decisions – acquisition; development; financing; hold/sell.
- Supervise, mentor, and train junior team members in the execution of day-to-day duties.
What you will bring
- Bachelor’s degree and a minimum of 8 – 10 years of relevant real estate investment experience (including development and multifamily asset management).
- Understanding of key real estate agreements including purchase and sale agreements, management agreements, partnership agreements, development agreements and loan agreements.
- Experience managing a sizable portfolio of multifamily assets including assets under construction within institutional caliber organizations.
- Awareness of portfolio goals and ability to develop and monitor specific plans for individual investments that contributes to these goals.
- Strong interpersonal/communication skills; ability to develop and ask questions and negotiate acceptable terms with third parties.
- Capability of simultaneously handling multiple assignments and to direct and monitor the activities of others on a systematic basis.
- Understanding of risk management and portfolio diversification.
- Ability to make presentations to senior management, investment committee, or clients.
- Strong quantitative skills demonstrated analytical ability, and business writing skills.
What will set you apart?
- Experience working with joint venture partners
- Degree concentrating in Finance or Real Estate
- Ability to use financial and valuation software including Argus.
- Experience working with joint venture partners.
- Involvement in promoting ESG, Proptech and data initiatives.
- Possess existing relationships with multifamily developers, property managers and brokers.
Source: PGIM Real Estate Career Page
