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Vice President, Multifamily Asset Management will drive results through creative and active management of their portfolio. The position that will enjoy a high degree of visibility with the SCG executive management team. This Vice President will be a key member of the team responsible for the asset management of a large market-rate portfolio located throughout the US, with heavy concentrations in the Sunbelt markets.
This Vice President will be working in a rapidly growing, dynamic, and collaborative environment with responsibility for continually representing SCG’s financial interest throughout the entire investment cycle. Given the size of the current portfolio and the expectation of growth throughout the US, this Vice President will need to take a very high-level, strategic approach to asset management, without getting lost in the details at the property level.
Responsible for the portfolio through investment lifecycle from initial closing, through renovation, stabilization and eventual disposition, this Vice President will work closely with both our affiliate property manager as well as some third-party property managers and construction managers to ensure asset performance meets or exceeds initial business plan pro forma and on an annual basis. This role will need to be effective at working with all levels of the property management company from the executive level to the regional management. Other asset management responsibilities will include underwriting support for new acquisitions, as well as handling complex issues as they arise across the portfolio (i.e., negotiating and resolving easement issues with neighboring owners, complex environmental close-out negotiations, rezoning from current by-right use, etc.). In addition, this Vice President will work closely with both the analyst pool and other groups within the firm on quarterly reporting and valuations.
Responsibilities
- Monitor and evaluate financial operating results to enhance cash flow and profitability.
- Complete monthly review of financials and narratives, as well as weekly review of all leasing reports, traffic reports, and delinquencies.
- Establish long-term and short-term initiatives to maximize investment returns. Evaluate property performance to assist in strategic business planning. Establish and enforce benchmarks, guidelines, and policies.
- Work collaboratively with property management to identify challenges and execute timely and effective solutions. Troubleshoot renovation execution challenges, including leasing issues, rent performance, excess turn times, etc.
- Conduct site visits on a regular basis to include but not limited to review of: curb appeal, status of capital improvement projects, model inspections, expense approvals, and personnel issues.
- Manage the annual budget review and approval process for the assigned portfolio. Work collaboratively with property management on budgets, staffing, capital improvements, and other programs.
- Oversee tax appeal issues and maintain regulatory and lender compliance.
Effectively present information and respond to questions from groups of executives, investors, lenders, and partners. - Provide support for due diligence on prospective acquisitions and all property/portfolio level dispositions.
Qualifications/Experience
- Bachelor’s degree required with strong academic background, ideally with a focus on finance and/or real estate
- MBA with a focus on finance and/or real estate a plus, but not required.
- Minimum of 6 to 10 years of relevant asset management, portfolio management, or acquisition work experience in the multifamily industry.
- Other property type experience would be valued, but not required.
