Vice President Asset Management/Acquisitions
Rhodes Associates - New York City, NY
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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 hospitalityRecurring calls with operating partners and property managersQuarterly and ad hoc investor reporting and communicationWork with operating partners to develop and approve annual asset level budgetsOversee operating partners implementation of ground up developments and capital improvement projectsAdvanced 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 CommitteeWork with operating partners and property managers (if applicable) to drive leasing / revenue optimization of multifamily, hospitality and student housing assetsMonitor 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 fundsContinuously assess appropriate time for liquidity across all assetsWork with operations team on quarterly and annual valuationsContinuous communication with IMT's head of real estate and Senior Partners with issues/decisions impacting the assets including budget / underwriting deviationsTravel to assets as often as possible to appropriately oversee and drive performanceStay current on local market dynamics; thoroughly understand each investment and how it is positioned in its respective market to maximize the value of the investmentInteract and collaborate with third parties, including debt and sales brokers, lawyers, lenders, property managers, and general contractorsMaintain 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 portfolio's operations are being optimized so that short and long term value is being maximizedWork with investment management team's (IMT's) head of real estate and Senior Partners on ad hoc requests for investorsKEY RESPONSIBILTIES - NEW INVESTMENTSWork directly with the head of Real Estate on new real estate investment funds and their underlying acquisitions/developmentsParticipate 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 refinancingsAbility to build and maintain advanced excel models at both the fund and deal levelAbility to build advanced PowerPoint presentations as needed to create investment committee materials for new acquisitions or fundsWork with head of Real Estate, Senior Partners and Investor Partners Group on any investor facing materialsWork with head of Real Estate and General Counsel on creation of legal documents at fund level, including PPM and LPAWork with head of Real Estate on negotiation of joint venture documentationLead all due diligence related to third party investor reportsConduct market research, including demographics, location analysis, and competitor information to facilitate decision-makingKEY ATTRIBUTES/EXPERIENCE 6-10 years of relevant real estate investment and asset management experience with a reasonable focus on multifamily and hospitality assetsSophisticated understanding of real estate acquisitions and financingAbility to close acquisition or development transaction from beginning to end of life cycleMust be very proficient in Excel and PowerPointIn-depth understanding of property operations, leasing, capital improvement programs, and ground up developmentsExperience with non-core real estate equity investments; experience will ideally include development and deep value-add renovationsSuperior oral and written communication skills with willingness and ability to present to senior managementSelf-starter with strong work ethic and ability to think quickly, problem solve, and work independently with minimal guidanceExtremely well-organized with strong administrative skillsTeam player with high-level of maturity, intensity, and perseverance, who is comfortable working in a fast-paced entrepreneurial and often evolving environmentAbility to work autonomously, be proactive, and multitaskAbility to work both independently and collaboratively as a team member and with other departmentsBachelor's Degree from a top-tier university; MBA or Masters of Real Estate is a plus
Created: 2025-02-15