Sr. VP - Asset Management

• Location 30 E 7th St,Suite 1300,St. Paul, MN, 55101,United States
• Base Pay $ - $ / Year
• Employee Type Exempt FT
• Required Degree 4 Year Degree
• Manage Others Yes

AEI’s Senior Vice President of Asset Management leads the Asset Management team to ensure AEI’s long-term interests are met by focusing on the physical, financial and operating success of the real estate assets owned or controlled by AEI. The Senior Vice President is also a member of AEI’s leadership management team responsible for overall organizational success.

Hire, train, motivate, empower and inspire internal and external team members to drive results and accomplish strategic goals. Foster a collaborative team environment within Asset Management and across other departments throughout the organization. Ensure systems support the work of the team.

Assist the acquisition team in the evaluation of prospective real estate purchases. Vet the underwriting assumptions used by the acquisition team for the real estate purchase pricing, balance fund and DST placement and assist with individual asset business planning. Review due diligence materials and raise issues for discussion, presenting possible solutions. Review and understand the business plan or investment strategy for the asset ensuring assumptions are sound, achievable and deliver the desired outcomes for investors and AEI.

Hire, train, motivate, empower and inspire internal and external team members to drive results and accomplish strategic goals. Foster a collaborative team environment within Asset Management and across other departments throughout the organization. Ensure systems support the work of the team.

Assist the acquisition team in the evaluation of prospective real estate purchases. Vet the underwriting assumptions used by the acquisition team for the real estate purchase pricing, balance fund and DST placement and assist with individual asset business planning. Review due diligence materials and raise issues for discussion, presenting possible solutions. Review and understand the business plan or investment strategy for the asset ensuring assumptions are sound, achievable and deliver the desired outcomes for investors and AEI.

Understand real estate valuation fundamentals (direct capitalization and discounted cash flow) and assess the impact of operational decisions on investment returns. Use time-value-of-money principles to analyze alternative lease structures and proposed capital improvements in order to calculate effective rental rates in the presence of concessions and anticipated payback periods on capital outlays. A basic understanding of debt financing and the impact of leverage on property-level cash flow as well as familiarity with complex debt and equity structures is a plus.

Oversee financial modeling to evaluate opportunities for asset repositioning, complete periodic portfolio valuations and forecast investor returns. Explain the results of financial models to senior executives through the use of common financial metrics and ratios.

Execute strategies at the property level for the lifecycle of each asset. Maximize value of each asset by making decisions that account for property characteristics and market conditions in the following areas:

• Budget review and approval including initial underwriting, periodic budgeting, CAM recs and the like.
• Approve leases and capital expenditures.
• Generate operational efficiencies and manage risk.
• Oversee real estate tax and insurance strategies – compliance, appeals, policy renewals, claims management.
• Facilities – Oversee a program of semi-annual roof inspections, tri-annual full property inspections, compliance with project capital assessments, enforcement of warranties.
• Maintain strong relationships with tenants in support of investor and AEI’s goals.
• Ensure compliance with legal documents governing each property such as REAs, declarations, deed restrictions and easements. Negotiate amendments or revisions as needed. Lead negotiations and approve…