Senior VP-Asset Manager - Vertical Ventures

January 08, 2018

Vertical Ventures

Walnut Creek, California 94596
http://www.verticalventuresllc.com

About Us

Founded in 2004, Vertical Ventures is an established, highly-focused investor, developer and operator of institutional quality commercial real estate assets.  We concentrate on identifying, acquiring and revitalizing well-located, quality projects that are temporarily undervalued.  Our primary focus is on office, R&D and industrial properties in well-established, supply-constrained, submarkets in Northern California.  The professionals of the firm average nearly 20 years’ experience transacting and operating real estate and generating attractive investment returns from both institutional and entrepreneurial platforms.  Investments are made on a direct and joint-venture basis, in collaboration with select institutional and high-net worth individuals and family offices.  The unwavering goal of the firm is to extract unrecognized value from the real estate and maximize returns to its investors, while providing a high level of service and communication to our financial partners.  This is accomplished through meticulous adherence to our sustained investment process, which involves: 1) The astute discovery, investigation and acquisition of strategically located and undervalued properties; 2) The aggressive execution of thoughtful, detailed, and efficient business plans, and; 3) The skilled and efficient disposition of assets at the optimum time, based upon property-specific economics and general market conditions. 

We seek complex opportunities in order to best leverage our deep experience and understanding of the many facets of risk exerting influence on a real estate investment.  We then rely on our expertise and strategic approach to develop and execute asset-specific business plans that extract maximum value from any given project at any given point in the real estate cycle.  Our investors and partners rely on us for our local knowledge, institutional rigor, and boutique service, which consistently deliver superior results.

 

About the Position

This senior asset manager will report to the founder and senior executives and lead all aspects of property-level operating activities and strategies for the Company’s portfolio of properties in northern California.  Responsibilities include the development and execution of asset repositioning, operating and leasing strategies, as well as budgeting, financial reporting, the oversight of property management and leasing professionals, investor relations and reporting and tenant relations. They will also work actively with the acquisitions team to assist during the underwriting, due diligence, closing processes, and will also oversee property dispositions.

The Asset Manager will be primarily focused on developing and executing property level strategies to enhance and/or protect asset value.  The properties will be predominantly class-A, institutional-quality office/R&D and industrial warehouse projects.

The ideal candidate has experience in asset management, construction management (TI & property repositioning), property management, office leasing, and financial budgeting related to institutional-quality commercial office projects. The candidate should also be highly analytical, a self-starter, and can decipher financial and market data to effectively review and evaluate investment opportunities and to assess the performance of individual assets in the Company’s portfolio. The ideal candidate is able to work independently with minimal supervision and is able to thrive in an environment that is highly entrepreneurial, both strategic and creative, and which requires rapid learning, multitasking and prioritizing under tight deadlines.

 

Key Responsibilities:

 

  • Develop asset business plans and approve property operating and capital budgets
  • Review, analyze and monitor the financial performance of investments, which entails maintaining financial models, reviewing budgets and variances, and raising awareness of performance concerns
  • Execute asset strategies including physical improvements, leasing and sell/hold analysis, based upon financial and market analyses
  • Manage and execute asset capital transactions, including financings, re-financings, and dispositions
  • Stay abreast of current market data and conditions in order to understand the position of each asset in its respective market from a leasing and investment perspective
  • Work collaboratively with senior management, acquisitions team, property managers, and leasing personnel to implement asset strategies, manage lease negotiations, and approve transactions
  • Prepare monthly and quarterly updates and reports for lenders and investors in an efficient and timely manner on asset performance and valuation for senior management and investors
  • Communicate complex financial and operational concepts -- in writing and verbally -- with internal and external constituents 
  • Serve as the primary conduit between investor(s) and lender(s) and the Company’s internal teams on each asset
  • Manage and monitor construction progress, budget, and cost over runs, along with approving and facilitating any change orders and construction draws
  • Perform onsite property visits and conduct property reviews to evaluate construction progress, property condition and performance
  • Produce ad-hoc analyses to evaluate the performance of assets – identify and analyze opportunities for value enhancement and cash flow improvement, including lease transactions, refinancings and property dispositions
  • Oversee any tenant legal proceedings. Help identify problems and opportunities to formulate and execute plans on uncovering cases related to non-payment, illegal, and fraudulent activity at the property and/or tenant level
  • Assist senior management in developing, creating and delivering business development presentations to existing or potential investors
  • Special projects as assigned

 

 

Qualifications:

 

  • Bachelor’s Degree -- preferably with a concentration in Real Estate, Finance, or Business (advanced degree preferred but not essential)
  • Minimum 5 years of asset management experience related to institutional-quality office properties
  • Strong understanding of real estate operating & capital budgets, office leasing, property operations, and capital improvements for commercial office properties
  • Analytical problem solver who can creatively devise solutions, provide tactical advice, and implement strategies
  • Strong communication skills – both written and verbal – with the ability to professionally advocate your opinions and positions
  • Self-motivated with effective interpersonal and collaborative working style
  • Strong work ethic
  • Excellent organizational skills and ability to prioritize work and meet deadlines
  • Highly skilled in Argus and Excel, with strong proficiency in MS Office suite -- specifically Word, Outlook and PowerPoint
$175,000-$199,999