Vice President, Asset Management

POSITION: Vice President, Asset Management 

COMPENSATION: Pursuant to applicable regulations, if this job is performed in a relevant State, the salary range is $155,000-$160,000 plus bonus potential. Eligible to participate in the company benefits plan. We offer health, vision, dental, and pet insurance. We offer a 401(k) retirement plan, student loan assistance, licensing and continuing education reimbursement, parental leave, and housing allowances or gifts.

The Vice President, Asset Management will have the opportunity to drive performance of a growing portfolio of institutional student housing and potentially multi-family assets across the U.S. by overseeing business plan formation and execution while interfacing across multiple divisions (including Acquisitions, Construction and Property Management). You will work with a team of accomplished professionals while reporting to the Senior Vice President, Head of Asset Management at the Company’s HQ located in Denver, CO.

RESPONSIBILITIES (Including but not limited to):

The Vice President, Asset Management will be part of a high-performing team acting as a liaison between operations, acquisitions and construction. This position will be responsible for managing a portfolio of owned assets assigned, and will be responsible for maximizing investment performance by helping formulate business plans, analyzing market conditions, adapting execution strategies, and reporting on performance. The intellectual exchange and focus on finding the best ideas will require you to grow and adapt and Cardinal’s dedication to its Core Values means that you will be entitled to, and expected to, act with integrity at all times.

• Manage Associates and Analysts, as assigned, including assigning work, mentoring, and setting expectations for performance.
• Oversee business plan execution for CGI assets assigned. This includes tracking business plan goals, ad-hoc analysis on value-add opportunities and developing solutions to challenges or changing market conditions.
• Review financial statements and work with investment accountants to ensure proper tax treatment of all income and expense line items.
• Work with Cardinal Group’s in-house property management team (“CGM”) to ensure adherence to property budgets, operating procedures, and timelines for execution of operating initiatives.
• Review and assist in assembling quarterly investment reports detailing performance of each portfolio asset.
• Review lender and joint venture partner reporting packages.
• Oversee asset-level cash management including investor distributions, operating and capital expenditure reserves, and lender-mandated reserve accounts.
• Work in tandem with the Acquisitions and Construction teams to help develop business plans, budgets, timelines and execution strategies for each asset. 
• Take part in due diligence efforts on new acquisitions, directly overseeing areas focused on operations. 
• Work with Cardinal Group’s in-house construction management team (“CGRes”) to ensure adherence to project budgets, communication and reporting requirements, and timelines for delivery of improvements
• Help develop annual business plans, rate plans and compensation structures for each asset. 
• Oversee the weekly, monthly, quarterly and annual reporting on the performance of the Company’s assets.  Perform detailed financial review and present findings to key stakeholders internally and externally. 
• Direct retail leasing brokers and negotiate commercials leases for mixed-use properties. 
• Work with attorneys and legal teams in overseeing any litigation or legal matters. 
• Communicate and interact regularly with capital partners including preparing analysis and presentations for their review. 
• Take part in and prepare materials for equity capital pitches.  
• Analyze operating reports and provide feedback to CGM as well as on-site teams about areas to improve performance, including rent setting, marketing and leasing, vendor selection and staffing.
• Assist in asset dispositions including preparing assets for sale, selecting brokers, and preparing diligence materials.
• Participate in new property acquisitions by providing feedback to the acquisitions team on operating assumptions and market dynamics.
• Conduct regular site visits to portfolio assets and provide detailed feedback on suggested strategy changes or operational improvements.
• Complete market research including rent surveys, supply & demand metrics, and overall market dynamics.
• Manage debt and equity financing relationships and initiatives, including refinancing existing loans.
• Identify and prepare ad hoc analyses of unique problems or opportunities.
• Other duties as directed by SVP, Head of Investment Operations
• Participate in Cardinal U training as required.

 EXPERIENCE DESIRED:

• Bachelor's degree required. Master’s degree, preferably in Business, Real Estate, or a related field preferred.
• Minimum 5-7 years of experience. Student housing experience preferred.
• Leadership Skills - internally motivated leader with a proven ability to see the vision and drive frequent and continuous organizational change to provide exceptional results.
• Communication Skills - excellent verbal and written communication skills with the ability to professionally present vision, strategy, goals, and results both internally and externally.
• Collaboration skills - ability to work well with team members throughout the organization, and external vendors and customers.
• Project Management Skills - proven ability to formulate and execute strategic and tactical organizational and operational plans to improve performance and support Company goals.
• Results-Oriented – has a track record of delivering quantifiable results to the organization (i.e. analyze opportunities/risks, develop and execute related action plans and deliver results), highly organized and disciplined.
• Operations Management Skills – a proven ability to identify, collect and analyze operations performance data, market research data, and other related data to improve performance
• Proven success in budgeting, financial management, team development, and performance management.
• Must be able to work under pressure and meet deadlines, while maintaining a positive attitude and providing exemplary internal and external customer service.
• Ability to work independently and to carry out assignments to completion within parameters of instructions given prescribed routines, and standard accepted practices.
• Available to travel – the position will require 20-30% travel across the United States as needed.
• Strong analytical skills including a high level of proficiency with Microsoft Office (Excel, Word, and PowerPoint), and the ability to learn new software systems.
  

WORK ENVIRONMENT

The work environment characteristics described here are representative of those a Team Member encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Incumbents work in an office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.

PHYSICAL DEMANDS 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. 

While performing the duties of this job, the Team Member is regularly required to use hands to finger, type, handle, or feel and talk or hear.  The Team Member is frequently required to stand; walk; reach with hands and arms, and stoop, or squat.  The Team Member is often required to sit.  The Team Member must be able to push, pull, lift, carry, or maneuver office products and supplies of up to twenty (20) pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus.

The above job description is not intended to be an all-inclusive list of duties and standards of the position.  Incumbents will follow any other instructions, and perform any other related duties, as assigned by their Team Leader.