Vice President Asset Management - Rhodes Associates : Job Details

KEY RESPONSIBILTIES ASSET MANAGEMENT

Monitor and drive performance of all assets in the firm's traditional real estate portfolio, which primarily consists of multifamily and hospitality

• Recurring calls with operating partners and property managers
• Quarterly and ad hoc investor reporting and communication
• Work with operating partners to develop and approve annual asset level budgets
• Oversee operating partners implementation of ground up developments and capital improvement projects
• Advanced excel modeling and PowerPoint skills needed for day-to-day asset management as well as investment committee requests, quarterly investor reporting, etc.
• Assist or take lead on creation and maintenance of ongoing asset management models to re-underwrite assets, assess refinancings or sell/hold decisions, etc.
• Assist or take lead on creation of presentations for Investment Committee
• Work with operating partners and property managers (if applicable) to drive leasing / revenue optimization of multifamily, hospitality and student housing assets
• Monitor the performance of each asset to ensure compliance with the terms of the legal documents (e.g. joint venture partnerships and loan documents)
• Actively manage cash at the fund level for current and future funds
• Continuously assess appropriate time for liquidity across all assets
• Work with operations team on quarterly and annual valuations
• Continuous communication with IMTs head of real estate and Senior Partners with issues/decisions impacting the assets including budget / underwriting deviations
• Travel to assets as often as possible to appropriately oversee and drive performance
• Stay current on local market dynamics; thoroughly understand each investment and how it is positioned in its respective market to maximize the value of the investment
• Interact and collaborate with third parties, including debt and sales brokers, lawyers, lenders, property managers, and general contractors
• Maintain a thorough understanding of all factors affecting markets and submarkets associated with assets in the portfolio, including rental/daily rates and cap rates of comparable properties.
• Continuously evaluate the performance of the portfolio and develop property specific plans to ensure that the portfolios operations are being optimized so that short and long term value is being maximized
• Work with investment management teams (IMTs) head of real estate and Senior Partners on ad hoc requests for investors

KEY RESPONSIBILTIES NEW INVESTMENTS

Work directly with the head of Real Estate on new real estate investment funds and their underlying acquisitions/developments

• Participate and sometimes lead in the acquisition process with respect to underwriting, site visits, due diligence, fundraising support, investment committee material preparation, etc.
• Take lead on acquisition/development financings and refinancings
• Ability to build and maintain advanced excel models at both the fund and deal level
• Ability to build advanced PowerPoint presentations as needed to create investment committee materials for new acquisitions or funds
• Work with head of Real Estate, Senior Partners and Investor Partners Group on any investor facing materials
• Work with head of Real Estate and General Counsel on creation of legal documents at fund level, including PPM and LPA
• Work with head of Real Estate on negotiation of joint venture documentation
• Lead all due diligence related to third party investor reports
• Conduct market research, including demographics, location analysis, and competitor information to facilitate decision-making

KEY ATTRIBUTES/EXPERIENCE

• 7-10 years of relevant real estate investment and asset management experience with a reasonable focus on multifamily and hospitality assets
• Sophisticated understanding of real estate acquisitions and financing
• Ability to close acquisition or development transaction from beginning to end of life cycle
• Must be very proficient in Excel and PowerPoint
• In-depth understanding of property operations, leasing, capital improvement programs, and ground up developments
• Experience with non-core real estate equity investments; experience will ideally include development and deep value-add renovations
• Superior oral and written communication skills with willingness and ability to present to senior management
• Self-starter with strong work ethic and ability to think quickly, problem solve, and work independently with minimal guidance
• Extremely well-organized with strong administrative skills
• Team player with high-level of maturity, intensity, and perseverance, who is comfortable working in a fast-paced entrepreneurial and often evolving environment
• Ability to work autonomously, be proactive, and multitask
• Ability to work both independently and collaboratively as a team member and with other departments
• Bachelors Degree from a top-tier university; MBA or Masters of Real Estate is a plus