Vice President, Asset Management

POSITION SPECIFICATION

VICE PRESIDENT OF ASSET MANAGEMENT

Shine Associates, LLC has been retained to search, identify, and recruit an Asset Manager to join our client (‘Company’). This position will be based in Philadelphia, PA and or Denver, CO.

CONFIDENTIALITY

Shine Associates, LLC has been exclusively retained on this assignment. Information contained in this position specification as well as any other information concerning our client provided or verbally discussed is confidential. All materials and discussions are to be utilized for the sole purpose of a candidate’s personal review of the career opportunity.

Client Description

Our client is a real estate investment management company that specializes in middle market opportunistic, value-add, core-plus, and Opportunity Zone private real estate investments. The firm currently has $3.2 billion of gross real estate assets under management through ten discretionary fund vehicles. The Company is currently investing its fifth opportunistic fund, its second Opportunity Zone fund, and its first core-plus fund. The Company also has an affiliate, which manages investments in public real estate securities through a flagship commingled hedge fund vehicle as well as Separately Managed Accounts.

The firm manages capital on behalf of institutional investors, family offices and high net worth individuals. The core of the Company’s private investment strategy is investing in joint ventures with experienced operating partners. Working closely with its partners, the Company employs a disciplined investment approach focused on low-cost basis, risk mitigation, value creation, and multiple exit strategies to seek superior risk-adjusted rates of return to its investors. The firm invests in primary and secondary markets throughout the U.S. with a focus on the multifamily, single-family build-for-rent, lodging, industrial, retail, residential land, and office sectors.

Our client is based in Wayne, PA (suburban Philadelphia) with regional offices in San Francisco, CA and Denver, CO.

ASSET MANAGER

The Vice President of Asset Management will have a critical role in the management, value creation and strategic direction of real estate assets under management across multiple funds. The individual will be responsible for oversight, strategic management, valuations, and reporting of Company’s real estate investments. The successful candidate will have the opportunity to join a small, entrepreneurial team, report directly to the Head of Asset Management and manage a wide variety of real estate assets nationwide.

Key Responsibilities

• Coordinate with operating partners to execute property-level business plans and maximize risk-adjusted returns
• Monitor and analyze property performance compared to budget, underwriting and overall market conditions.
• Regularly evaluate disposition strategy and timing, prepare disposition memos and analysis, and coordinate with operating partner on all dispositions.
• Coordinate financing and re-financings of assets
• Maintain standardized reporting tools at the asset, fund, and portfolio levels to track key performance indicators, variances, cash flow forecasting, and capital management
• Prepare financial analyses and written presentations of key investment decisions, such as financing and sale decisions
• Assist the acquisition team with the underwriting, closing, and transition of new investments
• Prepare quarterly investor reports, property valuations, and financial projections
• Review operating partner requests for approval of major decisions including leasing decisions, capital expenditures, annual business plans, and variances to budget
• Review capital calls, distributions, and loan draw requests
• Monitor local market fundamentals, including competitive set trends, new supply, sales comps and economic developments
• Ensure operating partner compliance with joint venture documents
  
  

Qualifications

• Bachelor's or master’s degree in finance, real estate, accounting, economics, or a related field.
• 5-10 years of relevant real estate and asset management experience
• Strong understanding of all aspects of real estate investment, financing, and disposition processes, including but not limited to market analysis, financial analysis, property valuation, and capital markets
• Experience with ground-up development and/or significant repositioning projects preferred
• Experience with multiple assets types preferred
• Demonstrated proficiency with financial statement analysis, accounting and valuation methodologies
• Strong interpersonal skills
• Ability to communicate clearly and concisely both orally and in writing
• Ability to direct and monitor the activities of others on a systematic basis
• Advanced Excel modeling capabilities and experience with ARGUS.
• Ability to meet tight deadlines, manage varied tasks simultaneously, and work within a team in an entrepreneurial environment
• Ability to make presentations to senior management, investment committee and/or investors
  
  

Compensation & Benefits

Competitive base salary; bonus based on individual and firm performance.

CONTACT INFORMATION

Shine Associates, LLC

45 School Street, Suite 301

Boston, MA 02108

www.shineassociatesllc.com

Hillary H. Shine, Principal

Shine Associates, LLC

Hillary@shineassociatesllc.com

Mobile: (203) 613-3562

Chandlee Gustafson, Associate

Shine Associates, LLC

Chandlee@shineassociatesllc.com

Mobile: (978) 201-3100

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