• Careers at Omicelo

    Associate Vice President, Real Estate Asset Management

    Pittsburgh, PA

    Full-Time/Exempt

     

    The Associate Vice President of Asset Management is responsible for the overall operational and financial performance of a portfolio of workforce and mixed-income assets in the Northeast region of the United States. This person will work collaboratively with the Chief Investment Officer and an Asset Management Associate to achieve corporate asset management financial objectives and deliver value to shareholders. The ideal candidate will have a thorough understanding of financial statements and reporting with exposure to institutional investment, experience with building cash flow models, and calculating levered and unlevered return metrics including peak equity, IRRs, equity multiples, and profit. Additionally, the Associate Vice President of Asset Management will coordinate with and assist other departments, including Accounting, Development, and Corporate Finance in support of their operations to achieve corporate objectives.

     

    Key Responsibilities

     

    Operations

    • In coordination with property management teams, develop and execute annual strategic business plans for an assigned portfolio of assets including multi-year operating and capital expense budgets
    • Forecast revenue streams following lease terms and project operating expenses based on historical operations and performance and business plans
    • Perform on-going management review, accounting analyses on asset-level income and expense drivers, and market research on an asset-by-asset basis to formulate opinions on market conditions and strategies to optimize asset performance
    • Conduct on-site property visits
    • Prepare detailed financial analyses to support asset management recommendations to senior leadership on significant operational issues, capital expenditures, leasing activities, financings, hold/sell strategy, and other strategic initiatives
    • Obtain asset level and fund level debt and subscription lines of credit
    • Identify properties for disposition and prepare marketing and due diligence packages for properties slated for disposition
    • Develop relationships with property vendors, lenders, brokers, and joint venture partners
    • Assist with investor requests and fundraising efforts
    • Comfortable with managing a team in both office and remote settings

     

    Financial Reporting

    • Weekly - provide and discuss with senior leadership a portfolio overview of activities at each property with a review of any new or ongoing priorities that require senior leadership’s attention
    • Monthly - report to senior leadership on property level performance, with comparative analyses to the annual budget, pro forma, previous operating history, and any other metrics as requested by management
    • Quarterly – manage the compliance requirements for lenders and investors 
    • Annually – assist with the annual audit and annual asset and investor reports and meetings; lead asset valuations, both internal and third-party appraisals
    • As needed - prepare budget forecasts, as required, to inform and support corporate finance objectives
    • Periodically, coordinate with accounting on month-end closing activities, including invoice approvals, expense accruals, variance reporting, etc. Also, coordinate with the fiscal team to create and review the analyses that support the quarterly variance reports

    Acquisitions

    • Support due diligence efforts for potential acquisitions 
    • Review and recommend property managers, leasing agents, and/or joint venture partners for new acquisitions
    • Obtain acquisition and refinancing debt 
    • Transition acquired properties into the portfolio, including implementing initial operating and capital plans

     

    Required Knowledge/Experience

    • Bachelor’s Degree preferred
    • Minimum of 6 years of commercial real estate property/asset management and analytical experience
    • Strong understanding of basic commercial real estate concepts and valuation techniques
    • Excellent verbal and written communication skills internally as well with external constituents
    • Excellent planning, organization, and interpersonal skills
    • Ability to function independently within a collaborative, team-oriented setting
    • Attention to detail and ability to function under tight deadlines
    • Ability to work accurately and efficiently
    • Ability to handle multiple projects at one time
    • Strong sense of personal motivation and responsibility
    • Strong working experience with Microsoft Office
    • Must exemplify the highest standards of integrity, honesty, and discretion

    Benefits Summary

    • Full health package available with a stipend for physical, dental, and optical health care
    • Life, short and long-term disability insurances provided
    • 401K with a matching option after vested 1 year

    Salary Minimum $85,000 annually

     

     

    Please email a copy of your resume and cover letter to Adrienne.Walnoha@omicelo.com
     

     

     

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