VP, Asset Management
Location: Chicago, IL
VP, Asset Management
Provide oversight to specific assets within Waterton’s portfolio of multifamily assets. Provide extensive oversight on new acquisitions of multifamily assets that require a significant renovation plan, joint venture relations or assets that require a significant change to their strategic business plan. Support Portfolio Manager’s on asset strategic business plan objectives in conjunction with Fund/Venture investment strategy and guidelines.
- The overall requirement is to implement the investment strategy for a select group of Waterton’s multifamily assets with a goal to optimize the portfolio’s performance and maximize their value to ensure future profitability.
- Manage the execution of the asset’s investment strategy by working alongside various Waterton functions including the Acquisition Team, Property Operations, Design and Construction, Portfolio Managers, Accounting, Investor Reporting and Capital Markets.
- Manage the approval process for all Major Decisions at the property level.
- Work closely in managing lender and joint venture obligations and implementing the terms of any joint venture and loan agreements.
- Provide oversight at the asset level in implementing the renovation program by working closely with Waterton’s Design and Construction team.
- Strategically evaluate and make recommendations on any new value add opportunities at each asset to drive ROI.
- Perform property site inspections to insure compliance with property and portfolio business plans.
- Monitor effectiveness of Property Management team and assess property conditions and issues to partner with Sr. Operations team members to develop action plans to drive investment performance.
- Work closely with Property Management and Design & Construction to oversee effective execution of Capital and Business Plans.
- Coordinate resolution of insurance and legal matters associated with the fund, lenders and/or investments in partnership with our Risk Manager & General Counsel.
- Oversee compliance with investor and venture operating agreements and guidelines, management agreements, property purchase agreements and loan documentation.
- Negotiate commercial leases when they are a component of mixed-use investments. Work with listing brokers to retain tenants for commercial space in multi-family properties.
- Supervise the completion of asset internal valuations (hold/sell analyses and annual and quarterly valuations) in an efficient and timely manner.
- Review and approve third party appraisal reports for recommendation to Waterton’s Valuation Committee.
- Analyze market research in order to fully understand the position of each asset in its respective market from a leasing and investment perspective and underlying factors which may influence it such as governmental initiatives, public infrastructure, employment and education bases, rental comps, etc.
- Bachelor's degree required, preferably in Business, Real Estate, Finance, or other relevant field. MBA strongly preferred.
- A minimum of ten (10) years of progressive related real estate and portfolio/asset management experience required. Must have a portfolio of assets in which a value-add strategy that was led and executed by this individual can be demonstrated.
- Experience in a multi-family environment preferred as well as experience with commercial/mixed use assets and client relations.
- Valid driver's license required.
- Travel is required up to 30%.