The Vice President Asset Management (East) will:provide management and support of Asset Manager and Asset Director associates with specific asset assignments in our Eastern region target marketslead the implementation and execution of strategies, policies, and initiatives for multi-family properties and participate alongside the investment team for prospective acquisitionsprovide updates and communication for investors and internal audiences. Purpose of the Job:The Vice President Asset Manageme... more details
We Care. We Deliver. Our purpose is to create communities our residents are proud to call home. We currently own or manage over 85,000 units in North America and continue to grow.
Bell Partners, https://bellpartnersinc.com/overview/ a national leader in multi-family housing, our mission is to be the apartment company of choice by creating value and honoring commitments to our residents, partners, and associates.
The Vice President Asset Management (East) will:
provide management and support of Asset Manager and Asset Director associates with specific asset assignments in our Eastern region target markets
lead the implementation and execution of strategies, policies, and initiatives for multi-family properties and participate alongside the investment team for prospective acquisitions
provide updates and communication for investors and internal audiences
Purpose of the Job:
The Vice President Asset Management (East) will:
- provide management and support of Asset Manager and Asset Director associates with specific asset assignments in our Eastern region target markets
- lead the implementation and execution of strategies, policies, and initiatives for multi-family properties and participate alongside the investment team for prospective acquisitions
- provide updates and communication for investors and internal audiences
Asset Management Function Defined
Owner representative oversight of Bell Sponsored assets through full hold period
Transition from Investment Team and feedback on underwriting
Capital expenditure strategic execution
Proactive performance management (e.g., benchmarks, guidance to Ops team)
Reactive project management (e.g., casualty event, material deviation from underwriting)
Bell Partners representative to communicate with investors
In place investors: quarterly reporting/ investor tours/ annual budgets
Prospective investors: limited involvement but supportive of investor tours, meetings, and communications
Essential Functions and Responsibilities:
- Driving Results: Leverage our data research, FP&A team, and internal database to monitor Bell Sponsored assets performance and determine areas that need additional focus; define metrics/KPIs in coordination with Operations (Ops) and Construction Management (CM) to ensure each group of the 3-part asset team (AM, Ops, CM) has clear roles and responsibilities to drive performance and value
- Communication / Reporting: Asset Management will work with Investor Relations and Fund Accounting to address owner/investor inquiries and provide property highlights for the quarterly fund report, year-end investor letters, and ad hoc communication needs
- Special Situation (SS) assets: Asset Management will be involved in SS issues (either property level or capital structure) that adversely affect cash flow and, potentially require communication with owners/lenders. As a result, discussions are needed with Operations, Financials Services/Accounting and/or Construction Services to understand the underlying issues and recommendations. At times, Asset Management will complete additional evaluation (e.g., independent market survey, financial analysis) to understand the issue more deeply and independently, as needed.
- Annual Budgets: Asset management will i) work with Financial Services, Operations, and Construction Services to provide guidance and approval for yearly operating and capital budgets for all Bell assets; ii) identify, analyze and work with Operations and Construction Services (where applicable) to recommend opportunities to add value (e.g. interior unit renovation programs, expense reductions, etc.); and iii) participate in cap ex analysis if a significant major/capital plan is being proposed and/or a renovation is recommended
Additional Functions and Responsibilities:
- Assists with other tasks and projects as requested
Notable knowledge, Skills and Abilities:
- Must demonstrate Bell Core Values and work and fit well within the company culture
- Flexibility in working hours and travel as required to accomplish the work
- Must be skilled in strategic planning and execution
Education and Background:
- BA or BS required; MBA preferred
- Minimum 10 years of real estate related experience
Bell Partners, Inc. (“BPI” or the “Company”) is an equal employment opportunity employer. BPI’s policy is not to discriminate against any applicant or employee based on race, color, sex, religion, national origin, age, disability, pregnancy, military/veteran status, marital status, genetic information, gender identity, sexual orientation or any other basis protected by applicable federal, state, or local laws. BPI also prohibits harassment of applicants or employees based on any of these protected categories. It is BPI’s policy to comply with all applicable state and federal laws respecting consideration of unemployment status in making hiring decisions.
Note to Applicants: Smoking is prohibited in all indoor areas of Bell Partners Inc. unless designated smoking areas have been established by a particular location in accordance with applicable state and local law.
