Portfolio Manager
Boston, MA
Full Time
Portfolio Management
Experienced
POSITION SPECIFICATION
PORTFOLIO MANAGER
Shine Associates, LLC has been retained to search, identify and recruit a Portfolio Manager on behalf of our client (‘Company’).
CONFIDENTIALITY
Shine Associates, LLC has been exclusively retained on this assignment. Information contained in this position specification as well as any other information concerning the Company 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 privately-held and vertically-integrated real estate company that develops, owns, and operates a portfolio of multifamily, industrial, and mixed-use developments. With corporate offices in Atlanta, Boston, Dallas, Dubai, New York, and San Francisco, the Company is an experienced real estate private equity investor and manager supported by an integrated operating platform and has 65+ years of experience across multiple asset classes. The Firm’s existing and under-development properties are valued at over $31.0 billion.
During its 65+-year history, the Company has developed, managed or acquired over 96,000 residential units and 32.5 million square feet of commercial space in twenty-four states. The current portfolio includes over 57,000 residential units, 1 million square feet of retail and office space, and 26 million square feet of industrial space.
PORTFOLIO MANAGER
The Portfolio Manager’s primary role, in conjunction with the Senior Vice President, is to launch and manage a new series of closed-end, value add, multifamily funds. The general objective of this role is to work with the Senior Vice President to have day-to-day responsibility for the Fund’s operations and performance including reviewing new potential investment opportunities, driving business plan execution, managing fund operations, investor reporting, and capital raising. The successful individual will work collaboratively with internal stakeholders including the Portfolio Management, Asset Management Acquisitions, Strategy and Business Analytics, Debt Capital Markets, Capital Raising, Compliance and Accounting teams to drive the success of the fund series.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Direct and work with the Portfolio and Asset Management teams on the oversight of the fund’s portfolio of multifamily properties with responsibility for overall performance.
- Oversee and monitor the performance of the fund’s value added strategies and opportunities.
- Work with the Senior Vice President, Chief Strategy Officer and CIO to evaluate and select markets and submarkets in which to target acquisitions and dispositions.
- Direct and collaborate closely with the Acquisitions team on potential new investments for the fund.
- Evaluate the performance of the portfolio against pro forma, internal business plans and industry benchmarks such as NCREIF and REITs.
- Work with Capital Raising team and Senior Vice President as relationship manager and primary contact for prospective and existing investor(s)
- Responsible for supervising the creation of the fund’s reporting and communication materials including pitchbooks, the Quarterly Letter and Annual Meeting presentation.
- Assess capital market conditions and real estate markets to develop an appropriate annual business strategy for the fund. Formulate the fund’s Annual Investment Plan and property level operating and capital budgets and business and strategic plans.
- Coordinate with Debt Capital Markets on the financing/leverage strategies for the portfolio.
- Manage the fund’s quarterly and annual reporting processes in conjunction with Accounting and Investor Relations teams.
- Work with the Chief Compliance Officer to oversee compliance with the fund’s operating agreement.
- Provide oversight of the fund’s external valuation process on a quarterly basis. Engage and oversee the third party appraisal manager and coordinate the review of the appraisals internally.
- Active participant in the fund’s Investment, Allocation and Appraisal Committee meetings.
- Work with Asset Management to develop hold/sell analyses and annual business plans, determine cost/benefit of major capital improvement projects and handle various asset management issues.
- Ultimate oversight of major renovation programs for multifamily properties.
- Ultimate oversight of the disposition and marketing of assets designated for sale; including the selection and coordination of investment sales brokers in the marketing process and negotiation of the purchase agreement and closing documents.
- Work with Property Management and Asset Management to establish the investment strategy and business plan for each asset in the portfolio with the objectives of maximizing property income, cash flow, and long-term value. Forecast income and expense projections, capital requirements, risk-return analysis, and hold/sell recommendations.
- Represent Company in the marketplace at industry events, conferences and ad hoc meetings
- Understand current and future trends in demographics, job growth, economic drivers, product supply as well as other market forces. Visit and review properties, regularly tour competing projects and document changes as appropriate.
- Network within the real estate community to support the successful execution of the Company’s long-term business plan. Essential contacts to be established and maintained include competitors, brokers, management companies, limited partners, placement agents, developers, potential sellers, and data providers.
- Supervise and train staff members. Assign duties for responsibilities within the portfolio to team members and provide mentoring and career guidance to team.
SUPERVISORY RESPONSIBILITIES
Supervise certain personnel in the Portfolio Management team including Assistant Vice Presidents, Assistant Portfolio Managers, Associates, Senior Analysts and Analysts. Carry out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
EDUCATION and/or EXPERIENCE
Master's degree (M. A.) or equivalent; or ten to fifteen years related experience and/or training; or equivalent combination of education and experience.
REPORTING RELATIONSHIPS
The Portfolio Manager will report directly to the Senior Vice President. There would also be working relationships across the organization including members of the Executive Committee and individuals within such groups as Operations, Acquisitions, Asset Management, Construction Management, Accounting, Treasury and the Legal Department.
COMPENSATION
The Company is prepared to offer a competitive compensation package including salary, bonus and other benefits.
CONTACT INFORMATION
Shine Associates, LLC
45 School St., Suite 301
Boston, MA 02108
www.shineassociatesllc.com
Shine Associates, LLC
45 School St., Suite 301
Boston, MA 02108
www.shineassociatesllc.com
Hillary H. Shine, Principal Timothy M. Shine, Principal
Cell (203) 613-3562 Cell (203) 676-1115
[email protected] [email protected]
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