AVP, Asset Management
Dallas, TX
Full Time
Asset Management
Mid Level
POSITION SPECIFICATION
AVP, ASSET MANAGEMENT
AVP, ASSET MANAGEMENT
Shine Associates, LLC has been retained to search, identify and recruit an AVP, Asset Management on behalf of our client (‘Company’). This position will be based in Dallas, TX and report to the Vice President of Asset Management.
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 firm is an experienced real estate private equity investor and manager supported by an integrated operating platform and has 60+ years of experience across multiple asset classes. The Company’s existing and under-development properties are valued at over $29.0 billion.
During its 60+-year history, the firm 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 55,000 residential units, 1 million square feet of retail and office space, and 25 million square feet of industrial space.
AVP, ASSET MANAGEMENT
The AVP will be responsible for establishing and implementing business plans that maximize the value and investment performance of a multifamily portfolio. This includes overseeing and driving the performance of assets, identifying opportunities to improve financial performance, developing financing projections, and managing relationships with affiliates, joint-venture partners, and capital partners.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Asset Management: Oversee and monitor the performance of multifamily assets, including recommending and analyzing value-add strategies to optimize performance and maximize property income, cash flow, and long-term value.
- Strategic Planning and Budget Management: Develop operating strategies aligned with fund objectives and asset life cycle.
- Project Management: Collaborate with Project Coordinators and external vendors (designers/architects/MEP) to execute projects that add value: unit renovations, clubhouse and amenity renovations, etc.
- Market Research and Analysis: Operating strategies will be developed leveraging the AVP’s market knowledge that will include an understanding of (i) competitive set, (ii) supply, (iii) current and future trends in demographics, economic drivers, and other market dynamics.
- Valuations and Reporting: Oversee quarterly valuations and reporting on KPIs. Conduct detailed financial analysis on real estate assets, including DCF modeling, IRRs, equity multiples, performance metrics and various sensitivity analyses.
- Stakeholder Engagement: Serve as a key point of contact for current and perspective investors and lenders, addressing inquiries, managing site tours, and providing insights into the assigned set of properties.
- Joint Venture Management: Oversee various joint venture partnerships to ensure alignment of interests and fulfillment of development obligations. Manage the acquisition of JV development partner’s membership interest in joint venture properties.
- Transaction Support: Oversee the disposition and marketing of assets designated for sale, including coordinating with investment sales brokers and negotiating purchase agreements.
- Property and Market Visits: Visit and review properties, regularly tour competing projects, and build relationships with the on-site and regional leadership of firm’s property management affiliate.
QUALIFICATIONS, SKILLS AND EXPERIENCE
- Bachelor’s degree in Real Estate, Finance, Mathematics or Accounting.
- Minimum of seven years of experience with five plus years of experience in the multifamily sector with an institutional owner.
- Experience with Yardi and PowerBI preferred.
- Ability to read, analyze, and interpret common scientific and technical journals, financial reports, and legal documents. Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community. Ability to write speeches and articles for publication that conform to prescribed style and format. Ability to effectively present information to top management, public groups, and/or boards of directors.
- Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry.
- Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
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 Kelsey E. Shine, Director
Cell (203) 613-3562 Cell (508) 494-6569
[email protected] [email protected]
Chandlee N. Gustafson, Associate
Cell (978) 201-3100
[email protected]
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