What are the responsibilities and job description for the Vice President of Asset Management position at Anchor Health Properties?
Vice President of Asset Management
Anchor Health Properties, a national full-service real estate development, management, and investment company, is seeking a Vice President of Asset Management to join their team. The Vice President of Asset Management will be part of a team that supports the Asset Management, Property Management, Development and Acquisition services of Anchor Health Properties and its affiliated entities and clientele.
Anchor Health Properties is a developer, owner and operator of healthcare real estate, operating in multiple states across the country. Our purpose - pursuing better healthcare through real estate solutions - is what drives us. The corporate culture of Anchor Health Properties is such that every employee is expected to be an ambassador for the company represented as proactive, creative, problem-solving, and outcome oriented. Our customers are the hospital administrators, physicians, practice managers, tenants, architects, contractors and consultants with whom we develop the real estate that we subsequently hold and manage, as well as the investors with whom we acquire stabilized buildings. Our business is built entirely on those relationships and the repeat project opportunities they generate. Therefore, our expectation is that every Anchor Health Properties employee should view each contact with these customers as an opportunity to build our business and, as such, should look for ways to proactively identify the customer’s need and demonstrate active effort to address that need as professionally, quickly and thoroughly as may be possible.
The primary function of the Vice President of Asset Management is to strategically execute the business plan for each managed asset – involving direct responsibility for the leasing, strategy and financial performance of an allocated portion of Anchor’s medical office property investments portfolio, predominantly located in the Western United States. The Vice President of Asset Management needs to approach every engagement with an ownership-mentality mindset based in an assumption that they will have to present, explain and defend the work product to our institutional clients – and that the client’s response to the timeliness, quality, thoroughness, format and conclusions of the employee’s work product will form their impressions of Anchor Health Properties.
The position will be preferably based in our San Diego, CA office. However, consideration will be given for other major Western hubs where we have a concentration of properties such as Los Angeles, CA; the San Francisco Bay area, CA; Seattle, WA; Denver, CO; or Phoenix, AZ.
The anticipated base salary for this role ranges from $200,000 - $250,000 annually, with potential additional earnings through bonus and leasing commissions. Final compensation will be determined by factors such as experience, qualifications, and geographic location.
Job Responsibilities include (but are not limited to):
- Direct and implement the development and execution of asset operating strategies, including the ongoing monitoring of such strategies during the hold period, to maximize the value of each asset.
- Supervise designated Asset Managers and Asset Manager Associates as direct reports in the Western Region portfolio.
- Manage a total portfolio of approximately 50 assets and/or 2.5M square feet, inclusive of those managed by the direct reports. Major markets include Los Angeles and Orange San Diego Counties, the San Francisco Bay area, The greater Seattle area, Denver, Las Vegas, and Phoenix. Maximize total return for each asset in the region through the analysis of property efficiencies.
- Manage lease renewals for each asset in accordance with each property’s business plan.
- Ensure strategies are in place for the timely lease-up of vacant space.
- Identify opportunities for improved assets and affiliated personnel performance.
- Partner with a team of in-house AHP property managers and building engineers within the assigned portfolio, providing direction for and oversight of business plans, budgets, forecasts, leases and analyses.
- Manage relationships with tenants, with a focus on anchor tenancy, ensuring good communication lines and strong relationships with health system decision makers.
- Work with in house and third-party leasing personnel to maximize building occupancy across the portfolio and follow through with the collection of lease commissions.
- Work with in house and third-party construction managers to determine project capital and deferred maintenance needs and timing; direct the timely and cost-efficient improvements in accordance with the business plan for each asset.
- Create and distribute periodic asset management reports and annual business plans and budgets to the Company, investors, lenders, and other parties.
- Manage profitability of each asset in the region to include detailed financial analysis on a quarterly and annual basis.
- Develop a deep understanding of local and regional medical real estate markets, as well as tenant relationships and needs; utilize that knowledge to refine business strategies.
- Provide acquisition input and assistance in due diligence processes, including review of financial, operational, and market assumptions, and execution of tenant interviews alongside acquisitions personnel.
- Support disposition efforts for regional assets on an as needed basis in the future, inclusive of marketing materials and sale processes.
- Identify opportunities within the region for the Company’s continued growth across its management, development and acquisition service lines.
- Serve as a liaison with the CEO, CIO and the Company’s executive team
- Serve as liaison with key third-party equity and debt contacts as all real estate is owned with equity partners working with institutional capital
Required Knowledge, Skills and Abilities:
- Meticulous attention to detail, systematic organizational skills.
- Possesses a strong work ethic and takes a proactive approach to their work.
- Ability to multi-task with ease.
- Excellent judgement as it relates to complex leasing strategies.
- Must be able to work independently and collaborate with other team members.
- Should self-identify as a “teachable” employee and possess a “can-do” attitude.
- Professional correspondence etiquette and strong interpersonal skills.
- Should take initiative and be committed to producing quality outcomes in work completed independently and as part of a team.
- Must have strong knowledge and experience with Microsoft Office programs, including: Outlook, Word, Excel and PowerPoint.
- Must be willing and able to travel regularly.
Education and Experience:
- Bachelor’s degree in real estate, finance, business, economics or related field required.
- Possession of a real estate broker’s license and a CCIM designation.
- Experience of at least 12 years overseeing a portfolio of commercial real estate assets, with a preferred focus on medical office or similar projects; experience demonstrating a strong track record of returns. Proven track record of successfully and independently negotiating leases.
- Management experience of healthcare properties strongly desired.
All interested, qualified applicants are encouraged to apply. Applications will be reviewed on a rolling basis, and the position will remain open until filled.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, age, disability, genetic information or any other legally protected basis, in accordance with applicable law.
Salary : $200,000 - $250,000
