VP Asset Management

Founded in 2004, Vertical Ventures is an established, highly-focused investor 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 markets.  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 family office investors.  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.  

Full-time position, based in Walnut Creek, CA.

The Asset Manager will report to senior management and assist in all aspects of property-level operating activities and strategies for the Company’s portfolio of commercial office and R&D properties.  Responsibilities include the development and execution of asset repositioning, operating and leasing strategies, budgeting, financial reporting, the oversight of property management and leasing professionals, tenant relations, disposition tasks and strategies. The Asset Manager will also work actively with the acquisitions team to assist during the underwriting, due diligence, and 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 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 ideal candidate is also 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. 

·        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 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 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

·        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

  

Vertical Ventures is an Equal Employment Opportunity Employer, making decisions without regard to race, color, religion, creed, sex, sexual orientation, gender identity, marital status, national origin, age, veteran status, disability, or any other protected class.