Asst. Vice President of Asset Management

• Location: West LA, California
• $140000 base salary
• Type: Direct Hire
• Job #1685
• Salary: $140,000 - $160,000

Title: Asst. Vice President of Asset Management

Industry: Real Estate

Location: West LA

Overview: Pacific Executive Search has been engaged on a search for an Assistant Vice President of Asset Management. In this role, you will take on new responsibilities overseeing third-party property management and collaborating closely with acquisitions, all while working in the vibrant West LA area. You can expect significant opportunities for career growth as you manage a team and develop strategic initiatives that directly impact the success of the asset portfolio.

Description:

Responsibilities

• Manage third-party property management firms and collaborate with joint venture partners and stakeholders to implement the property business plan.
• Analyze monthly operating and income statements to monitor property performance against budget and market benchmarks, taking necessary actions to address discrepancies.
• Prepare and revise the annual business plan along with quarterly and monthly performance reports for each property.
• Oversee the cash flow and profitability metrics for each property.
• Update cash flow projections and conduct quarterly hold/sell analyses, including exit strategy development.
• Conduct regular physical inspections of properties to gain insights into challenges, evaluate the execution of strategic initiatives, assess operational performance, and identify improvement opportunities, sharing findings with relevant teams.
• Work with stakeholders to formulate refinancing and exit strategies for each asset.
• Lead and mentor a team of associates and analysts, providing guidance and feedback to foster their professional development.
• Collaborate with senior staff to evaluate potential acquisition opportunities, considering comparable properties and market indicators while developing initial asset management plans.
• Execute financial modeling to align plans and budgets with the company’s strategies for development, acquisition, financing, leasing, and disposition.
• Develop, analyze, and update project proformas, budgets, and action plans throughout the lifecycle of projects.
• Provide financial updates, market research, and ad hoc reports to the team and executives as required.
• Assist in the due diligence process for new investment opportunities, coordinating with third-party specialists such as appraisers and consultants.
• Support the review of legal documents and collaborate with attorneys in drafting and updating contracts.
• Assist expatriates in understanding the U.S. real estate market and business practices.
• Facilitate the internal approval process for acquisitions, asset management, and dispositions by preparing necessary documentation.
• Continuously seek ways to enhance efficiency and reduce costs in work processes.
• Undertake special projects and additional tasks as assigned by management.
• Maintain high ethical standards in the workplace and report any irregularities to management.
• Ensure effective communication with management, office staff, and external contacts.
• Adhere to all company policies and procedures while ensuring a clean and safe working environment.

Qualifications

• Bachelor’s degree in Finance, Real Estate, Accounting, Mathematics, or a related field, or an equivalent combination of education and experience.
• A minimum of 5 years of direct asset management experience, ideally within an institutional context, focusing on multifamily or industrial assets.
• Understanding of real estate principles, including operations, analysis, budgeting, financial reporting, and general accounting practices.
• Familiarity with the investment due diligence process and the ability to provide local market leasing assumptions and competitive insights.
• Strong analytical skills and proficiency in MS Office; experience with Argus is preferred.
• Effective communication skills to convey complex issues clearly and professionally, both verbally and in writing.
• Ability to manage multiple tasks simultaneously while ensuring accuracy and quality in work outputs.
• Experience in managing teams is highly desirable.