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Vice President, Asset Management - Industrial

Company is confidential
Salary
Competitive
Employment
Full Time
Real Estate Field
Location
Boston
 MA
Postal Code
02108
Country
United States

This job is no longer active.

Description


Position Vice President, Asset Management - Industrial Assets
Company COMPANY CONFIDENTIAL
Location  Boston MA  
Reporting Relationship Reports to Regional Manager


Company Background/Culture

Headquartered in the Northeast, our client is a Real Estate Investment Trust focused on the acquisition and operation of industrial properties throughout the United States. By targeting Industrial Assets our client has developed an investment strategy that provides a powerful balance of income and growth for investors.

Our client owns over 400 sites totaling over 90 million square feet located in 38 states. The company has a strong operating history sustained through variable market cycles and has experience investing in both large and small markets. The company culture is team-oriented, inclusive, and collaborative and one that provides great opportunities for professional growth.

The Opportunity

The Vice President of Asset Management will drive the overall performance of a regional portfolio of institutional quality assets to the highest level possible. The Asset Manager will serve as the ultimate point of accountability for the financial performance of the individual assets and the portfolio which he/she is managing.

The Vice President, Asset Management will be responsible for all phases of the Asset Management process for a specific geographic region. The individual will also work closely with the acquisitions team on new acquisitions and play an active role.

Key Responsibilities

• Lead as the key person in the negotiation of Industrial property lease transactions within an assigned portfolio of assets – and maintain an active relationship with key brokers.
• Establish and maintain relationships with tenants and visiting with all key corporate decision-makers to understand the ongoing needs of their business
• Monitor and be accountable for the profit and loss of individual assets in a portfolio
• Hire and actively work with local leasing brokers to manage leasing activities and fill vacancies within the assigned portfolio
• Work directly with Property Managers and Tenants regarding the daily operations of the sites
• Oversee all capital improvements and building expansions and capital improvements
• Travel to the assigned markets and visit the individual assets the in portfolio
      o Meet with tenants to understand their needs
      o Walk the property and interior of building to observe the level of use and occupancy and any identify potential capital needs
      o Meet with local brokers to keep current with market dynamics and any changes
• Analyze and understand the market positioning and monitor and understand the latest market statistics, industry trends
and the broader competitive set
• Present and make recommendations to the firm's Investment Committee for assigned assets 
• Report on the performance of each asset with a comparison to budget and underwriting; make hold/sell recommendations
• Manage the disposition process
   o Make recommendations to the Executive Management team
   o Interview and hire listing brokers within assigned geographies 
   o Manage the marketing and bid process for all assets
   o Conduct buyer interviews as needed
• Prepare annual budgets and business plans for each property
• Work with the Acquisitions team on underwriting potential new deals and approve all leasing assumptions
• This position will require a good amount of travel – travel is estimated at 50%.


Professional Experience/Qualifications

  Minimum of 7 or more years Industrial Real Estate Asset Management or related experience is required
• Strong verbal and written skills with solid interpersonal skills and relationship acumen
• Best qualified candidates will be thoughtful and organized -- effective with time management and comfortable working independently.
• Experience reviewing and negotiating Real Estate documents (Leases, PSA, etc.)
• Financial Analysis experience is required and the ability to work with and direct the work of junior team members
• Experience managing and leading a team of Real Estate professionals
• We will consider candidates who have other/additional asset class experience provided they have experience with Industrial assets.


Education

• Bachelor’s Degree required; Master’s degree or MBA is desirable.

 

Job Sector


Not specified

 

Experience


7+ to 10 years


This job is no longer active.

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