Vice President, Asset Management
Vice President, Asset Management
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$ 150000 - 200000
1 Vacancy
Job Description
About Waterton
Waterton has grown from very humble beginnings with one phone and two desks to the successful nationally recognized real estate investment and management firm it is today. As Waterton has evolved and grown one thing has remained constant - the drive to achieve results by exceeding 25 years Waterton remains passionate aboutdelivering an incredible Resident Experience which we believe is made possible by offering an extraordinary experience for our talented associates. We value performance that delivers experiences that exceed expectations coupled with an unwavering commitment to Investor Guest and Resident service excellence. Overall we are a collection of people who strive daily to find the good and leave it better.
Job Summary
The Vice President Asset Management will provide oversight to specific assets within the firms multifamily portfolio. This position will also provide oversight on new acquisitions of assets that require significant renovation plans joint venture relations and assets that require changes to their strategic business plan. The Vice President will support Portfolio Management on asset strategic business plan objectives in conjunction with Fund/Venture investment strategy and guidelines.
Your Impact and Job Responsibilities
- Implement and manage the execution of the investment strategy for a select group of Watertons multifamily assets with a goal to optimize the portfolios performance and maximize their value. This will include managing the approval process for all major decisions at the property level.
- Provide oversight with capital program management monitor effectiveness of property operations and ensure compliance with investor and venture operating agreements management agreements property purchase agreements and loan documentation.
- Negotiate commercial leases for mixed use investments and maintain tracking schedules relative to achieving asset business plan objectives.
- Monitor monthly property financial operations and provide guidance and approval to property management in preparing operating and capital improvement budgets to meet strategic business plan objectives and ensure appropriate return on costs. Strategically evaluate and make recommendations on new value add opportunities at each asset to drive ROI.
- Supervise the completion of asset internal valuations (hold/sell analyses and quarterly valuations) in an efficient and timely manner.
- Track property metrics comparing operating results to business plan budget acquisition pro forma effective rent and capital renovation goals and return on costs; identify trends monitor success and identify areas for improvement.
- Track metrics review financial performance returns and work alongside the Director Dispositions to underwrite initiate and execute effective disposition strategies.
- Analyze market research to stay on top of trends and understand the position of each asset from a leasing and investment perspective which includes gaining an understanding of the competitive rental market and factors driving growth in submarkets. Maintain hold sell analyses for each asset which support the account/fund objectives.
- Establish and maintain good relationships with investors joint venture partners lenders brokers and co-workers.
- Contribute to the investor reporting process including annual business plans monthly and quarterly reports and annual asset review materials.
Requirements:
- Bachelors Degree Required preferably in Business Real Estate Finance or another relevant field. MBA strongly preferred.
- Minimum of seven (7) years of progressive related multi-family real estate and portfolio/asset management experience required.
- Experience in a multi-family real estate environment highly preferred and experience with commercial/mixed use assets a plus.
- Extensive experience in real estate asset management within a real estate setting ability to continually demonstrate the ability to add value to assets.
- Working knowledge of accounting concepts and accounting/leasing systems such as Yardi Voyager.
- Act independently while partnering with other Waterton teams to ensure an unbiased approach to maximizing the value of each asset within their portfolio.
- Working at a faster than average pace for most of workday. Must be able to adapt/adjust to continual changes and variety.
- Strong written/verbal communication skills. Present ideas and information in a professional concise and well-organized way.
- Interpersonal skills with an ability to interact with external and internal clients required.
- Most tasks are performed independently. There is limited direct supervision must be a self-starter.
- Strong analytical and investigative skills strong attention to detail.
- Travel is required up to 50%.
How we will recognize and reward you:
At Waterton we recognize that compensation and benefits are important to our associates. We offer a wide variety of benefits including:
- Competitive compensation and incentive program participation
- Full suite of benefits including Medical Dental Life Disability and even pet insurance
- 401K match
- Generous paid time off volunteer time off and paid holidays
- A commitment to life-long learning through learning plans that include internal and external trainings with LinkedIn Learning as well as consideration for tuition reimbursement
- Employee discounts and wellness initiatives like an onsite gym
- Hybrid work environment (based on business or position need)
The typical base salary hiring range for this role is $150000 - $200000 per year plus bonus program participation.
The pay range is a base pay only and does not include any additional compensation or bonuses that this position may be eligible for. The pay range is approximate and the actual pay may vary depending on related work experience certifications education and other job-related factors.
Waterton welcomes all.
Waterton is an equal opportunity applicants will receive consideration for employment without regard to race color religion sex sexual orientation gender perception or identity national origin age marital status protected veteran status or disability status.
Required Experience:
Chief
Employment Type
Full-Time
