Vice President, Real Estate Private Equity

Vice President, Real Estate Private Equity

The Firm

SDS Capital Group ( SDS ), founded in 2001, is looking to hire a Vice President of Asset Management to lead the project level asset management on its American South Real Estate Funds I & II.

The ASREF funds provide gap financing to high-impact real estate projects that benefit low- and moderate-income communities.

The Opportunity

ASREF is seeking a Vice President of Asset Management for the American South Real Estate Fund, a real estate private equity fund that provides preferred equity, mezzanine debt and equity for developers (all product types but heavily weighted towards multifamily) working in emerging low- and moderate-income neighborhoods throughout the southern United States (AL, AR, FL, GA, LA, MS, NC, SC, TN and TX.) ASREF investments are underwritten to market rates of return but must also achieve substantial economic development impacts for the surrounding community. ASREF is seeking a Vice President who will be primarily responsible for the project-level asset management activities of ASREF and fund level management. ASREF is managed by a joint venture between SDS and Vintage Realty Company. ** This employee will be employee of SDS Capital Group. Work-from-home (or co-working office) will be considered as long as the candidate is located within the 10-state fund footprint. We are looking for a candidate that lives in the footprint, ideally in a city with a substantial airline hub that enables easier access to our projects. **

ASREF is not a large hierarchical organization and to succeed here you must be a self-starter with natural curiosity and the ability to thrive in a fast-paced entrepreneurial environment. The position will report to the fund s Managing Director and be an integral member of the management team. This is an outstanding opportunity to join an early-stage real estate private equity fund that s poised to take advantage of the growth in impact investing.

Responsibilities:

• Work closely with ASREF sponsors to oversee construction, business plans, budgets, forecasts, draw requests and approvals
• Lead post-investment kick-off process with sponsor to ensure a smooth transition and clarity on their end as to draws, reporting, your work with them, etc.
• Develop the asset management plan for each investment during the closing process, to be vetted by the team, and implemented by asset manager post-close
• Collaborate with the team on identifying an asset management software that can assist us in handling our portfolio growth
• Coordinate the timely funding of ASREF advances.
• Serve as the lead on periodic asset management calls
• Develop, refine and implement internal policies, procedures and guidelines on development projects.
• Review and comment on project budgets, construction and architect contracts, project team qualifications (including architect, general contractor and owner s representative licenses, credentials and capacity), property surveys, purchase and sale agreements and other due diligence items to ensure the adequacy of the pre-closing construction risk analysis.
• Work to identify and mitigate construction-related risks.
• Collect and carefully analyze all construction-related documentation on active construction projects, including budgets, requisitions, change order logs, AIA forms, lien waivers, soft cost invoices, title documentation, site inspection reports, and other documents required under the investment documents, and maintain appropriate electronic files.
• Create and maintain individual construction draw spreadsheets with approved budgets, funding criteria, loan allocations, draws and requisitions, interest reserves, and construction timelines for all projects.
• During construction, monitor insurance coverage, real estate tax payments and absence of liens to ensure clean title, sufficiency of funds, project completion and issuance of certificates of completion and occupancy.
• Identify critical risks, deficiencies and project setbacks, and work with senior managers to communicate with borrowers, project managers, engineers/inspectors, lenders, and other parties to address any concerns and resolve issues.
• Recommend, design and implement workflow, process and system improvements to appropriately monitor and mitigate construction-related risks on individual investments and on a portfolio basis, while increasing the team s efficiency.
• Communicate with the third-party property inspectors and perform regular site visits.
• Actively participate in the leasing process including guiding sponsors in strategy and approving all LOIs and new leases
• Provide feedback on the in financial underwriting and modeling of fund investment opportunities.
• Help prepare formal Investment Committee Memoranda.
• Help update cash flow projections for ASREF investments on quarterly basis
• Help update the fund model on a quarterly basis and help prepare quarterly reports and annual reports for investors
• Help prepare annual operating budget for the fund and fund manager
• Assist in preparation of materials for annual investor meeting
• Ad-hoc assignments in support of fund operations

Qualifications

• Bachelor s Degree in related field, MBA preferred.
• 5-7 years of experience in real estate development and/or asset management, preferably multifamily.
• Strong research and writing abilities
• Must be a detail-oriented person with outstanding analytical skills
• Strong computer skills, especially Excel
• Interest in impact investing
• Extensive travel will be required

SDS provides a competitive benefits & compensation package. All candidates must be able to prove eligibility to work in the United States and willing to complete a background check.

We are an Equal Opportunity Employer.

Office Location

1281 Westwood Blvd, Suite 200

Los Angeles, CA 90024

How to Apply

Please email your cover letter and resume to Austin Ross (American South Real Estate Fund). No phone calls please.