Head of Portfolio & Asset Management

Position: Head of Portfolio and Asset Management Reports to: Managing PrincipalLocation: Boston, MA Company Background:Rhino Capital Advisors LLC is a privately held Boston-based investment management firm. Since its founding, the firm has acquired over $750 million of real estate across more than 2.8 million square feet. The firm has a diverse existing portfolio consisting of over 1.5 million square feet across multiple sectors. Rhino's investment strategy is to acquire and develop off-market value-add industrial, flex, multifamily, retail, and office assets in the Greater Boston area as well as infill multifamily opportunities in select neighborhoods of Boston and select suburban locations. Rhino's capitalization strategy partners with institutional private equity firms as majority stakeholders, as well as high-net worth individuals.Opportunity:The position offers the opportunity to join a growing company with a team and culture focused environment. Rhino is a flat organization that values and fosters the growth of their employees. The Head of Portfolio and Asset Management will work closely with the Managing Principal, CFO, Development and Investments Teams on a variety of existing and prospective real estate properties and investment transactions.Responsibilities Include:Portfolio/Asset ManagementLead, with assistance from executive team and acquisitions team, the execution of the original business plan for each new asset.Identify and contract with all third-party providers relevant to successful completion of each assets business plan.Coordinate and run operational, development, and leasing calls for each asset to ensure all internal and external partners are on the same page and are working towards the same goals. Calls to occur no less than monthly.Manage the process of updating of the under-management model for each asset on a quarterly basis in conjunction with the finance team. Responsible for the guidance/assumptions on future leasing activity, revenue assumptions, expense growth, preventative maintenance plans and capital expenditures that will happen at the property in the coming years. Lead the tracking and resolution of insurance claims.Lead annual review of master insurance policy and assist finance and accounting team in tracking cost allocation to respective properties.Manage the annual budget process for each asset on a yearly basis in conjunction with the finance team. Responsible for generating an annual business plan for each asset with a narrative which will include rationale for recommended adjustments to any pre-existing plan, the guidance/assumptions on future leasing activity, revenue assumptions, expense growth, preventative maintenance plans and capital expenditures that will happen at the property in the coming year.Lead annual valuation process for each asset and coordinate with other internal and external groups as needed.Assist other disciplines including the executive team on other activities on an ad-hoc basis.Proactively strategize with investment team on ad hoc opportunities to sell/recap/refinance assets.Property ManagementOversee Property Management team.Provide guidance and assistance to help property management execute the business plan and keep the actual NOI in line or exceed budget as much as possible.Ensure the daily operation of the buildings is as smooth as possible to ensure tenant/client satisfaction.In the event of any issues at the asset, work diligently with the property management team and finance team to mitigate the issue.Assist property management with proactive tenant relations.Proactively identify and communicate emerging or potential issues and variances across the organization and recommend solutions.ConstructionOversee the construction team with any development, capital, or tenant improvement projects at the assets. Assist acquisition and development team in finalizing development and construction budgets.Coordinate with property management team and existing tenants to ensure the disruption is minimal.Proactively identify and communicate emerging or potential issues across the organization and recommend solutions.Investor RelationsDirect the finance team, executive team, and acquisitions team to provide investors with institutional quality quarterly reporting.Draft asset and market summaries for use in such reports. Update communications and provide accountability on the progress of the business plan for each asset.Articulate any variances clearly. Acquisitions/Dispositions: Due DiligenceDevelop Year 1 Budget.Assist with market leasing assumptions to assist acquisitions team.Provide operational assumptions to assist acquisitions team.Lead initial insurance assessment and secure initial insurance coverage.On-board brokers and property management and assist with marketing materials.Investment OnboardingTake the point/lead position from the acquisition team upon closing of the asset.Generate under management model.Confirm that both internal and external teams (property management, finance, construction, legal, brokerage, etc.) are aligned and understand their individual and team goals moving forward to ensure a smooth onboarding/takeover process.Major TransactionsAssist the executive team, finance and acquisitions teams with major transactions including dispositions and recapitalizations.Provide all relative assumptions and information to ensure the best possible outcome for the asset and execution of the business plan.Generate hold/sell analyses as each asset approaches end of its business plan or as requested by executive team on an ad hoc basis.Qualifications: Experience: Minimum 10-15 years of relevant commercial real estate experience, with a strong focus on asset/portfolio management, property management, and investor relations. Experience managing diverse asset classes (e.g., industrial, multifamily, retail, office) is preferred.Leadership & Strategic Thinking: Demonstrated ability to lead teams, develop business plans, and execute on long-term strategic objectives. Strong track record of creating operational efficiencies and improving property NOI.Technical & Financial Expertise: Advanced proficiency in financial modeling, valuation, and underwriting using Microsoft Office Suite (Excel, Word, PowerPoint) and Argus. Familiarity with Yardi or other property management platforms is highly desirable. Proven ability to assess investment opportunities and execute due diligence processes.Communication & Interpersonal Skills: Strong written and verbal communication skills. Capable of drafting detailed reports, asset summaries, and investor communications. Adept at managing relationships with investors, third-party service providers, and internal stakeholders.Problem Solving & Process Creation: High aptitude for self-direction, with a demonstrated ability to develop best practices and processes from scratch. Proven experience in managing complex transactions and leading operational improvements.Analytical & Organizational Skills: Ability to think critically and manage multiple workflows simultaneously. Strong organizational skills and attention to detail in managing large portfolios.Collaboration: Proven ability to work effectively with internal teams and external stakeholders to drive operational efficiency, ensure business plan execution, and achieve strategic objectives.

Created: 2024-11-03