Vice President of Asset Management

Description

Overview

We are seeking an experienced Vice President of Asset Management to join our senior housing company. This key position will report directly to the COO and interact regularly with owners and stakeholders. The ideal candidate will excel in capital expenditure budgeting, project management, and strategic planning for our real estate portfolio and fixed assets.

Key Responsibilities

• Working in concert with COO and the Operations Team to develop strategic plans and capital budgets for facility level expenditures.
• Development of processes, procedures, and practices to ensure that our real estate portfolio remains in compliance with life safety codes, building codes, and regulatory requirements.
• Provide leadership to our Fixed Asset Management / Maintenance Team to ensure compliance with the execution of facility specific strategic plans and regulatory requirements.
• Ensure Accountability among members of the Fixed Asset Management Team including employees, vendors, regulators, and others working in our ecosystem.
• Provide oversight of the project management function related to renovation and new development.
• Work collaboratively with the Operations and IT Teams to provide innovative strategies for the operation of each community to improve efficiency and workflow.
• Provide management oversight during the scoping, pricing, permitting and execution of repositioning projects.
• Provide proactive, hands-on management strategy to achieve specific income, expense, and capital improvement compliance for each asset.
• Provide clear direction and skill-based leadership in executing on both the portfolio's strategy and the specific asset's business plan.
• Work with the acquisition officer on potential transactions - from due diligence and underwriting, through closing and transition into the investment portfolio. Work collaboratively with the acquisitions officer in creating the capital and operating budgets, developing a thorough business plan, and presenting the project to the Investment Committee.
• Work collaboratively with our joint venture partners. Asset Manager will have the key responsibility to ensure that the partner is performing according to plan and that all interests remain aligned. While representing our interests with the partner, the Asset Manager must also strive to maintain a collegial working relationship to enhance the opportunity for future ventures.
• The Asset Manager will be responsible for the establishment of an accretive business plan and investment strategy with the objectives of maximizing property income, cash flow, and long-term value. They will work collaboratively with our Financial Analysts to develop income and expense projections, capital requirements, risk-return analysis, and hold / sell recommendations.
• The Asset Manager will track and report on the performance of the assets, against both budget and various business plan milestones and return metrics. They will work with the accounting group to provide relevant data and bring critical matters to the attention of senior management.
• The Asset Manager will become a market expert in numerous geographies in the health care sector as well as actively represent the owner in the marketplace. Monitor ongoing current and future trends in demographics, job growth, economic drivers, product supply, as well as any other market forces.
• The Asset Manager will actively lead the quarterly valuation process for the assets in the portfolio, including the recommendation of value in the context of the market, capital markets, properties' performance and capital expenditure needs.
• Visit assets regularly, maintain professional relationships with key Community Operators tour competing projects and document all sale / lease comps and market changes as appropriate.
• Oversee all annual external and quarterly internal market valuations and periodic BOV's.
• Oversee and manage the work assigned to analysts supporting their assets and provide mentorship as appropriate.
• The Asset Manager is an officer level position within the corporate leadership group. Therefore, this person will interact extensively with the CEO as well as the leaders in the different functional areas (operations, acquisitions, accounting, risk management, and investor relations) and others within the company. This person will be expected to add value to the team as well as provide strategic thinking, mentoring of associates, and bring a fresh perspective to the company as a whole.

Qualifications

Skills & Attributes