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Carmel Partners

Vice President, Asset Management

Full Time
Real Estate Field
  • Asset / Portfolio Management
San Francisco
Postal Code
United States

This job is no longer active.


Carmel Partners is a well-capitalized private real estate firm with expertise in investment and development of multi-family real estate. Our mission is to create high quality communities using innovative ideas and solutions to enhance the value of our investors, associates and residents.

We are seeking a Vice President, Asset Management who will act as an Owner’s Representative in managing a complex portfolio with assets (Northern California & Hawaii) at every phase of the life cycle. The primary role of this position is to work with internal and external teams to achieve revenue and NOI growth, meet the objectives of each asset, maximize fund performance, and to generate returns for the company’s investors. The VP, Asset Management must be able to manage the assets in their portfolio with an ownership mindset. They must be passionate, and consistently looking for ways to add value and protect the assets of the company.

Who you are

You're a natural leader who takes pride in building strong relationships with your cross functional asset teams. In fact, you’re able to easily collaborate with any team in the business, and when it comes to making decisions, you’re efficient and effective. You have a strong background in multifamily markets on a national scale, and deep knowledge of real estate investments and principles. And of course, you’re a pro at communicating on and off the page, and your presentation skills are top notch.

Location: San Francisco, CA

What you'll do


  • The Vice President of Asset Management has a full understanding of each asset assigned to him/her and is responsible for performing all related tasks throughout the life cycle of their assigned assets
  • As the owner’s representative, you’ll go above and beyond to accept ownership and accountability for actions that represent the entire company; this position is responsible for ensuring the successful creation, management, and execution of the Asset Level Business Plans (“ALBPs”), and driving the financial performance of their respective portfolio of properties
  • Forward planning of work and tasks; deliver quality results on time; focus on activities and efforts of high value/ROI; be goal and results oriented
  • Manage assets through full life cycle: underwriting, due diligence, renovations, lease-up, maintenance, capital, and stabilized operations


  • Work with the Asset Management, Investments, and Development teams, as well as third-party property management companies, to develop Asset Level Business Plans (“ALBP”) Participate in Quarterly Asset Reviews (“QARs”), delivering a full financial and property overview to the senior leadership team
  • Work with the SVP of Asset Management to execute the annual objectives and goals for the Asset Management Team and the company
  • Lead special task forces to drive process improvements and value for the portfolio 

Financial/Operational Management

  • Work with third-party property management on pricing strategy calls; have a full understanding of revenue management (LRO a plus) and how to utilize the system to maximize net effective rents
  • Lead annual budgeting process for their portfolio, to meet the financial objectives and goals of each asset, the portfolio and the company
  • Lead monthly operations review calls with property management, with primary objective to review financial performance to date, identify operational issues or opportunities, and implement strategies to maximize ongoing performance
  • Manage all types of renovation projects of assets under his/her management
  • Superior lease-up skills, with the ability to manage the Carmel team, third-party property management company, and other third-party consultants’ objective of leasing up property within budget, proforma rents, and velocity targets
  • Work with brokers in identifying, selecting and executing on all types of retail leases
  • Oversee brokers, legal counsel, and third-party consultants in drafting and executing commercial leases, completing TI build-outs, and onboarding tenants
  • Work with team to compare the performance of individual assets to both internal and external/industry benchmarks Periodically shop competitive property set in order to ensure comprehensive understanding of asset-specific market dynamics and asset positioning
  • Engage third-party real estate tax consultants to review real estate tax assessments for properties within specific region(s)
  • Collaborate with property management company and utility consultants to identify strategic opportunities to reduce utility expenses where possible; review utilities bill-back programs to identify opportunities to increase bill-back amounts and/or reduce CAD percentages where possible; must possess solid understanding of property utilities
  • Partner with the Investments Team and third-party property management company to ensure necessary steps are taken regarding property strategy and operations during dispositions processes of assets to maximize sales price of assets


  • The VP, Asset Management possesses a full understanding of how to efficiently and effectively underwrite new assets, including development and acquisition/rehab deals:
    • Perform complete full revenue and expense underwriting for new development and acquisition/rehab projects; review market comps and assemble comprehensive tools to assist in underwriting pro forma rents (historical market rent comps, unit photo comp summary, amenity photo comp summary)
    • Identify key participants on due diligence team and coordinate related schedule with internal participants and external vendors
    • Evaluate deal risks and mitigate
    • Schedule and participate in physical due diligence including unit walks and property walks
    • Work with Investments Team and third-party property management company to develop the operating pro forma and ALBP
    • Lead third-party capital project teams in preparing renovation business plan
  • Possess full understanding of amenity programing, multifamily unit layouts, site, scale, and unit mix

 What you'll bring

  • Undergraduate degree in Business or Finance, MBA preferred
  • 8 to 10 years’ professional experience in multifamily asset management; experience in multiple markets preferred
  • Exceptional multifamily operational management experience
  • Excellent underwriting experience and skills
  • Retail and commercial leasing and management experience

Carmel Partners, Inc. is an equal opportunity employer and affords equal opportunity to all applicants for all positions without regard to race, color, religion, gender (including pregnancy), national origin, age, disability, veteran status, sexual orientation, or any other status protected under local, state, or federal laws

Job Functions

  • Asset Management
  • Portfolio Management
  • Underwriting

Job Sector

  • Residential


7+ to 10 years

This job is no longer active.

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