What are the responsibilities and job description for the Vice President Asset Management / Acquisitions position at Rhodes Associates?

KEY RESPONSIBILTIES – ASSET MANAGEMENT

Monitor and drive performance of all assets in the firm's “traditional” real estate portfolio, which primarily consists of multifamily and hospitality

Recurring calls with operating partners and property managers
Quarterly and ad hoc investor reporting and communication
Work with operating partners to develop and approve annual asset level budgets
Oversee operating partners implementation of ground up developments and capital improvement projects
Advanced excel modeling and PowerPoint skills needed for day-to-day asset management as well as investment committee requests, quarterly investor reporting, etc.
Assist or take lead on creation and maintenance of ongoing asset management models to re-underwrite assets, assess refinancings or sell / hold decisions, etc.
Assist or take lead on creation of presentations for Investment Committee
Work with operating partners and property managers (if applicable) to drive leasing / revenue optimization of multifamily, hospitality and student housing assets
Monitor the performance of each asset to ensure compliance with the terms of the legal documents (e.g. joint venture partnerships and loan documents)
Actively manage cash at the fund level for current and future funds
Continuously assess appropriate time for liquidity across all assets
Work with operations team on quarterly and annual valuations
Continuous communication with IMT’s head of real estate and Senior Partners with issues / decisions impacting the assets including budget / underwriting deviations
Travel to assets as often as possible to appropriately oversee and drive performance
Stay current on local market dynamics; thoroughly understand each investment and how it is positioned in its respective market to maximize the value of the investment
Interact and collaborate with third parties, including debt and sales brokers, lawyers, lenders, property managers, and general contractors
Maintain a thorough understanding of all factors affecting markets and submarkets associated with assets in the portfolio, including rental / daily rates and cap rates of comparable properties.
Continuously evaluate the performance of the portfolio and develop property specific plans to ensure that the portfolio’s operations are being optimized so that short and long term value is being maximized
Work with investment management team’s (IMT’s) head of real estate and Senior Partners on ad hoc requests for investors

KEY RESPONSIBILTIES – NEW INVESTMENTS

Work directly with the head of Real Estate on new real estate investment funds and their underlying acquisitions / developments

Participate and sometimes lead in the acquisition process with respect to underwriting, site visits, due diligence, fundraising support, investment committee material preparation, etc.

Take lead on acquisition / development financings and refinancings

Ability to build and maintain advanced excel models at both the fund and deal level

Ability to build advanced PowerPoint presentations as needed to create investment committee materials for new acquisitions or funds

Work with head of Real Estate, Senior Partners and Investor Partners Group on any investor facing materials

Work with head of Real Estate and General Counsel on creation of legal documents at fund level, including PPM and LPA

Work with head of Real Estate on negotiation of joint venture documentation

Lead all due diligence related to third party investor reports

Conduct market research, including demographics, location analysis, and competitor information to facilitate decision-making

KEY ATTRIBUTES / EXPERIENCE

6-10 years of relevant real estate investment and asset management experience with a reasonable focus on multifamily and hospitality assets

Sophisticated understanding of real estate acquisitions and financing

Ability to close acquisition or development transaction from beginning to end of life cycle

Must be very proficient in Excel and PowerPoint

In-depth understanding of property operations, leasing, capital improvement programs, and ground up developments

Experience with non-core real estate equity investments; experience will ideally include development and deep value-add renovations

Superior oral and written communication skills with willingness and ability to present to senior management

Self-starter with strong work ethic and ability to think quickly, problem solve, and work independently with minimal guidance

Extremely well-organized with strong administrative skills

Team player with high-level of maturity, intensity, and perseverance, who is comfortable working in a fast-paced entrepreneurial and often evolving environment

Ability to work autonomously, be proactive, and multitask

Ability to work both independently and collaboratively as a team member and with other departments

Bachelor’s Degree from a top-tier university; MBA or Masters of Real Estate is a plus

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