What are the responsibilities and job description for the Vice President, Asset Management position at Shopcore Properties, LP?

Company Summary

EQ Office (“EQ”) and ShopCore Properties (“ShopCore”), both Blackstone portfolio companies, merged into one entity (“the Company”) in September 2024 to drive scale and form a diversified, best-in-class commercial real estate platform. This vertically integrated platform supports a diverse team of 260 office and retail professionals with expertise across acquisitions, asset management, leasing, development, and property management. EQ operates approximately 15 million square feet of commercial office space, while ShopCore operates 9 million square feet of open-air retail centers. Both portfolios stretch across major U.S. markets including Atlanta, Boston, Chicago, Los Angeles, New York, San Francisco, and Seattle.

If you think you are the right match for the following opportunity, apply after reading the complete description.

The combined Company fosters a collaborative culture built on the principle of OneTeam . This means individuals work together across teams, functions and time zones to achieve shared goals. OneTeam is the desire to be part of something bigger than yourself – and striving to find a greater purpose. The Company creates a more innovative and fulfilling environment by sharing best practices, with a focus on having a positive impact on employees, customers and communities. OneTeam principles include :

Kindness, Respect and Trust
Merit
Accountability
Integrity
Essential Transparency
Never be Complacent
Work Hard and Have Fun

Job Summary

The Vice President – Asset Management (“VP, AM”) will report directly to the Head of Asset Management – Retail, with a dotted line partnership to other leaders for shared accountability in the business plan and investment performance of assigned assets. The VP, AM will be primarily responsible for bringing analytical rigor to key value-maximization decisions around major leases, capital investments and timing of dispositions. The position entails supervision, mentoring, coaching, and development of direct and indirect reports, including travel and site visits to become an expert on asset position within the market, asset conditions and to build relationships with ShopCore’s regional market teams and external advisors. This is a high visibility role, with consistent and impactful interaction with executive leadership at EQ Office, ShopCore, and Blackstone.

Essential Job Functions

Investment Cash Flow Modeling – Collaborate with market leadership, leasing, operations, and other teams to oversee analytical team to build accurate long-term cash flow models for each asset and investment. Provide thought leadership around assumptions and key drivers of return on investment. Monitor performance to plan, identify and report on key variances to underwriting to provide recommendations to executive leadership.

Strategic Financial Analysis – Lead efforts to coordinate strategic analyses, which includes but is not limited to hold / sell decisions, evaluation of major leases, yield on cost, repositionings, other capital projects, and real estate taxes.

Liquidity / Cash Management – Oversee team that reviews cash models and manages liquidity needs; anticipate cash management issues and provide timely reporting to market leadership and executive teams.

Asset-Level Projects – Collaborate and coordinate with market leadership to identify and implement priority value-add projects in alignment with underwriting and asset business plans.

Dispositions, Due Diligence and Underwriting – Provide guidance to team that leads financial responsibility for due diligence and closing process for dispositions and debt financings with the Investments team – including coordination of information and materials with various parties (buyers, sellers, lenders, brokers, and attorneys), as well as internal partners (Finance and Legal). Review and sign off on due diligence materials.

Organization and Communication – Drive collaboration, organization and communication of key work products and information to effectively report asset or market conditions to ShopCore leadership and Blackstone.

Manage and Mentor Team – Orchestrate work and foster development of team such that work is produced more effectively. Provide exceptional mentoring and employee development to people beyond direct reports.

Competencies

Collaborative and consensus builder with the ability to influence others without formal authority

Exceptional leadership, management, and communication skills

A curious, driven professional with a passion for problem solving

Results Orientation with a sense of urgency and continuous improvement

Strategic Orientation with creative and broad thinking

Team leadership - works inclusively within a diverse team

Qualifications

Degree in finance, economics, engineering, or equivalent quantitative-based field

A minimum of 10 years of experience at a reputable real estate investment firm, ideally from an investment management or private equity platform, or alternatively from a REIT or operating platform (preferably with significant experience in open-air retail)

At least 3 years managing people

Excellent written and verbal communication skills

Translates complex technical concepts to understandable business terms

Ability to work independently, handle multiple projects and meet deadlines

Ability to do advanced Excel modeling and deep knowledge of Argus Enterprise

Strong understanding of real estate fundamentals, valuation, transactions, asset management and leasing

Ability to research, analyze and draw conclusions and communicate effectively

Demonstrated success in collaboration, creative thinking, and ability to learn new concepts quickly

Compensation

The compensation available for the role considers a variety of factors including, but not limited to, work location, individual skill set, previous / applicable experience, and other business needs. The estimated base salary range for individuals is $200,000 to $300,000 as part of an overall compensation package. The above salary range represents the Company’s good faith and reasonable estimate of the possible base salary range at the time of posting and is one part of the total rewards that the Company provides to its employees.

Closing

EEO Statement

Our company is proud to be an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. Our employment decisions are based on individual qualifications, job requirements and business needs without regard to race, color, marital status, sex, sexual orientation, gender identity and / or expression, age, religion, disability, citizenship status, national origin, pregnancy, veteran status and or any other legally protected characteristics. We are committed to providing reasonable accommodations, if you need an accommodation to complete the application process, please email recruiting@eqoffice.com

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Salary : $200,000 - $300,000

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