Vice President, Portfolio Management

Company: Broekema Group
Location: San Diego
Posted on: November 6, 2024

Job Description:

Our client is seeking a Vice President (VP) of Portfolio Management to lead the overall financial and operational management of the company's portfolio of commercial real estate assets. As the VP, the primary focus is to maximize the investment performance of each asset by establishing and executing annual plans that enhance value and improve efficiencies. This position also plays a key role in evaluating and assisting in the acquisition and disposition of assets. This position offers a competitive total compensation package and the ability to work remotely 1 day/week.Responsibilities:Portfolio/Asset Management:

• Oversee strategic planning for commercial assets and development portfolio through the preparation and execution of annual property business plans.
• Evaluate, approve, and execute redevelopment and capital improvement initiatives, including analyzing property characteristics, coordinating with architects, contractors, and consultants, and creating and managing budgets and proformas.
• Build strong broker relationships and maintain market knowledge concerning competition, rental rates, occupancy, development trends, and significant events affecting the company's assets.
• Prepare quarterly asset management reports for Senior Management and joint venture partners.
• Oversee cash flow forecasting and management to ensure adequate capital for property operations, collaborating with the VP of Accounting and Finance on cash positions and future capital needs.
• Maintain industry relationships and participate in events to expand the company's market presence.Leasing:
• Collaborate with the VP of Leasing to establish and manage leasing strategies for each property, ensuring financial goals for new and renewal leases are achieved, and lease documentation aligns with the company's standards.Financing:
• Assist the VP of Accounting and Finance in obtaining debt and equity capital for existing assets and potential acquisitions.
• Oversee the preparation and submission of due diligence materials to lenders and equity partners, and review closing statements and prorations.Acquisitions/Dispositions:
• Evaluate assets for Hold/Sell recommendations as part of the annual business plan, considering asset condition, capital needs, leasing forecasts, market conditions, and financial projections.
• Participate in due diligence for property acquisitions by gathering and evaluating key reports and underwriting data.
• Lead the disposition process for identified assets, including selecting investment sales brokers, preparing marketing materials, and coordinating buyer due diligence.Development:
• Work with the Development, Acquisition, and Finance teams to identify and underwrite potential development and redevelopment projects.
• Prepare feasibility evaluations, including development budgets, financial models, market analysis, and zoning information, to present recommendations to Senior Management.
• Oversee project execution, including consultant selection, financial modeling, government entitlement submissions, and construction closeout.Minimum Qualifications:
• Bachelor's degree.
• 7+ years of experience in asset/property management, leasing, and construction within the retail real estate industry.
• Proficiency with Argus.
• Proficient in Microsoft Office (Excel, Word, Outlook, PowerPoint).Preferred Qualifications:
• Bachelor's degree in business, finance, economics, accounting, or real estate.
• MBA or a Master's in real estate.
• CPM, RPA, LEED AP, or equivalent real estate industry designations.
• Experience with Yardi software.
• Working knowledge of discounted cash flow valuation (NOI, NPV, IRR) and debt-related ratios (DSCR, LTV).
• Strong communication, negotiation, leadership, and problem-solving skills.
• Recent experience managing large portfolios of commercial properties.Salary Range: $175,000 - $200,000**The above represents the lowest to highest expected salary range for this job opening. Our client ultimately may pay more or less than the posted salary range, and the salary range may be modified in the future. Our client will consider job-related factors including, but not limited to, education, qualifications, certifications, experience, skills, geographic location, and business or organizational needs when determining pay.
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Keywords: Broekema Group, Moreno Valley , Vice President, Portfolio Management, Executive , San Diego, California