Due to continued portfolio growth, our client is seeking a Vice President of Asset Management to play a critical leadership role overseeing asset performance, business plan execution, and operational strategy across a growing multifamily portfolio.
This position is ideal for an experienced asset management professional who began their career in property management or operations and has since progressed into asset management responsibilities. The successful candidate will combine strong operational expertise with financial acumen, strategic thinking, and leadership capabilities.
Position Overview
The Vice President of Asset Management will be responsible for maximizing portfolio performance by developing and executing asset-level business plans, overseeing property operations, driving NOI growth, and partnering closely with acquisitions, construction, and executive leadership teams.
This individual will serve as the primary asset management lead for a portfolio of multifamily and commercial investments and will have significant exposure to senior management and ownership.
Key Responsibilities
Asset & Portfolio Management
- Develop and execute comprehensive business plans for assigned assets.
- Drive property-level performance through revenue enhancement, expense management, and operational improvements.
- Monitor asset performance against underwriting, budgets, and investor return objectives.
- Identify opportunities to increase asset value through repositioning, capital improvements, and operational efficiencies.
- Oversee annual budgeting, forecasting, and strategic planning processes.
- Review and analyze monthly operating statements, financial reports, rent rolls, and key performance metrics.
Operations Oversight
- Partner with third-party and on-site property management teams to ensure execution of operational objectives.
- Establish performance benchmarks and hold operators accountable for results.
- Evaluate leasing activity, market conditions, occupancy trends, concessions, and pricing strategies.
- Identify and implement best practices to improve resident experience and operational efficiency.
- Conduct regular property visits and participate in asset strategy reviews.
Capital Projects & Value-Add Execution
- Oversee renovation, repositioning, and capital improvement initiatives.
- Collaborate with construction and project management teams to ensure projects are completed on time and within budget.
- Evaluate project ROI and measure performance relative to underwriting assumptions.
Financial Analysis & Reporting
- Prepare asset-level and portfolio-level analyses for executive leadership and investors.
- Perform cash flow analysis, variance reporting, hold/sell evaluations, refinancing analysis, and return projections.
- Monitor capital expenditures, debt compliance, reserve requirements, and investment performance metrics.
- Assist with investor presentations and portfolio reporting.
Leadership & Collaboration
- Mentor and support junior asset management professionals.
- Work closely with acquisitions teams during due diligence and asset onboarding.
- Partner with executive leadership to formulate portfolio strategy and investment decisions.
- Participate in investment committee and strategic planning discussions as appropriate.
Qualifications
Required Experience
- 6-10 years of relevant real estate experience.
- Strong preference for candidates who began their careers in property management, operations, or regional management before transitioning into asset management.
- Experience managing multifamily and commercial assets on behalf of an owner, operator, investment manager, REPE firm, or vertically integrated real estate platform.
- Demonstrated success driving NOI growth and executing value-add business plans.
- Experience overseeing third-party property management relationships.