Vice President Asset Management

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American Realty Advisors (ARA) is one of the largest privately held private equity institutional real estate investment managers in the United States, with over $10 billion in assets under management.

ARA invests on behalf of institutional investors through core and value-add real estate funds and separate accounts, targeting industrial, office, multi-family, and retail assets nationwide through direct equity, hybrid debt, mezzanine, and preferred equity structures.

The Role

The Vice President, Asset Management’s primary responsibility is to lead and direct the asset management responsibility for a portfolio of residential assets.

The role works under the Executive Vice President (“EVP”) for the residential (multi-family and for-rent single-family) asset management team to support the EVP in directing an industry-leading asset management approach for ARA’s for-rent residential portfolio.

Responsibilities include overseeing third-party property managers, leasing staff, construction managers, and others involved in managing assets.

Core duties include the supervision of the strategic planning, management, leasing, financial analyses, operating and capital budgets, returns on an internal rate of return and time-weighted basis, and reporting on a quarterly and annual basis regarding the performance of each asset.

The Vice President will work with the EVP, Portfolio Management, and the Investment Group to assist in reviewing and analyzing multi-family assets to be acquired by the firm.

During the initial evaluation of the property and due diligence, these activities ensure the target asset can be managed to the level outlined in the business plan for the underwriting and long-term budget.

This role is based in either ARA’s downtown Los Angeles or downtown Chicago office, so the candidate will be expected to be a local resident and commute to the office.

Essential Functions

• Develop and drive the implementation of the strategic business plans for each of the portfolio’s multi-family assets, which govern the portfolio’s daily operations and ultimate positioning in the marketplace and understand the impact on capital outlays and operating expenses to organize and program a business plan that maximizes its performance.
• Identify, develop, and implement value-added strategies concerning existing assets and potential acquisitions.

  Strategies may include but are not limited to renovations relating to repositioning and lease-up and ground-up development.

• Oversee management of property operations for assets, including:
  • Timely review of property management reports,
  • Tracking weekly and monthly status reports from property managers,
  • Developing solid relationships through sound leadership with property managers and other onsite staff to support the business plan’s advancement and maximize performance.
• Collaborate with joint venture partners on existing investments and new opportunities, providing approvals when necessary and input as appropriate.

  Review operations for compliance with terms of joint venture agreements, development management agreements, and related documents.

• Oversee contracts, vendors, bids, and inventories.
• Supervise, train, and motivate property managers, leasing staff, and personnel in ARA’s asset management philosophy.
• Conduct regular site visits to review curb appeal, the status of capital improvement projects, model inspections, expense approvals, and personnel issues to direct changes to maximize the asset’s performance.
• Maintain an understanding of architectural plans and contracts, engineering studies, schedules, and work with attorneys to craft lease language to protect the landlord when appropriate.
• Work with onsite leasing teams to attract, qualify, maintain residents, and achieve favorable effective lease rates.

  Develop marketing strategies and concession packages to maximize effective rents.

• Work with ARA’s Valuation Group and Portfolio Management Group to supervise the completion of asset valuations (hold/sell analyses, quarterly, and annual valuations) efficiently and timely and provide context for the asset to be able to support and provide insightful hold vs.

  sale recommendations regularly.

• Oversee general property level analysis functions (i.e., PM contracts, RFPs, construction, and vendor agreements).
• Conduct in-depth market research to fully understand each asset’s position in its respective market from a leasing and investment perspective and all underlying factors that may influence it.

  Update demographic and market information for each asset area for strategic planning and reporting purposes and understand the data’s implications on specific asset performance.

• Review potential multi-family acquisitions in both the core and value-added space.
  • Work with the Investment Group to develop long-term models to support the acquisition.
  • Perform in-depth market research to support all underwriting assumptions incorporated into the acquisition model.
  • Review effective lease rates, capital improvement budgets, and operational budgets.
  • Develop and maintain strong relationships with investment brokers to facilitate investment activity.
  • Oversee the physical inspection of the asset to understand the impact of any deficiencies on underwriting.
  • Advise other deal team members and report directly to the Investment Committee on all aspects of the proposed investment from an asset management perspective.
• Manage the reporting process (business plans and monthly and quarterly reports) in an efficient and timely manner and as a means of improving performance.
• Prepare annual portfolio review materials, including preparing and delivering written and oral reviews to trustees, consultants, and client staff, if necessary.
• Participate in investor calls/presentations on an as-needed basis to help shape the articulated vision for the multi-family team’s direction and investments in the multi-family sector.

Candidate Qualifications

• An undergraduate business degree is required, preferably in finance, accounting, or another related area of study.
• An advanced degree or professional designation (i.e., RFA or CPM) is preferred.
• A minimum of eight years of direct work experience in the for-rent residential asset management sector.
• Additional expertise in multi-family renovations, property management, or acquisitions is highly regarded.
• Knowledge of the private equity real estate market and how such investments work and are structured is an essential part of this position.
• Residential development experience and retail asset management preferred

The ideal candidate for this role will exhibit competency in the below areas.

At ARA, we see possessing these traits as vital to the success of the position:

• Creative Thinking – An innovative thinker who translates thoughts into actionable items.
• Works Collaboratively – A team player committed to achieving objectives through collective action and communication.
• High Energy – Thrives in a fast-paced, dynamic environment where multi-tasking is essential.
• Models Our Values – Conducts daily business and interactions with mindfulness to reflect ARA’s culture and promote its values and standards.
• Results Driven – Outperforms expectations and promotes the firm’s competitive advantage through an analytical and context-driven approach to problem-solving.

Job Specifications

• Expected work hours: 8:30 to 5:30, Monday through Friday, with occasional weekends.
• Travel: Occasionally may need to drive a personal vehicle for business.
• Work environment and physical demands: General office environment.
• Vaccination is required to enter the workspace, and ARA will consider accommodations for disability
  – and religious-based reasons.

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities required of the employee for this job.

American Realty Advisors is committed to equal employment opportunity.

ARA considers for employment qualified applicants with criminal histories in a manner consistent with the requirements of the Los Angeles Fair Chance Initiative for Hiring Ordinance No.