nareit logo

The Professionals’ Choice for Real Estate Jobs
  1. Home
  2. Find Jobs
  3. Senior Vice President, Asset Management

Senior Vice President, Asset Management

Salary
$125,000-$149,999
Employment
Full Time
Work Place
Office
Real Estate Field
Location
Newark
 NJ
Postal Code
07102
Country
United States

This job is no longer active.

Description


Reports to: Project Partner, Piyush Bhardwaj, CoInvestment Partners

Status: Full-time / exempt

Location: Newark, New Jersey


About Us

SHIFT Capital is a nationally recognized development company focused on creating just and equitable neighborhoods. As a Certified B Corporation®, SHIFT delivers community solutions and programming that maintain and diversify a neighborhood’s character while maximizing long-term affordability and minimizing displacement. SHIFT owns and manages over 2 million square feet of real estate, including commercial, residential, mixed-use, and land. To date, SHIFT has invested over $220 million in the neighborhoods we serve to create ecosystems that strengthen entrepreneurship, creativity, and value for tenants and communities. Launching later this year, Shift’s NextGen Impact Platform will focus on partnering and supporting the next generation of impact developers in communities across the country.

Our Newark Partners

Hanini Group is an award-winning real estate firm with more than 10 years of experience developing high caliber loft-style residential, retail, commercial and corporate properties. With more than $300 million of development projects under its belt, the firm is especially known for its successful track record in taking historic properties in Newark, New Jersey and rehabilitating them, top to bottom. Many of these buildings, beautifully restored to their former glory, have quickly become landmarks and popular focal points in the city. The firm has expanded beyond Newark and has taken on large, marquee projects in the greater New York City metropolitan area, such as Northern New Jersey and Brooklyn. For more information, please visit: .

 

CoInvestment Partners (“CoIP”) is an investment company deploying a thematic approach aimed at improving the resilience of [sub]communities, both physical and virtual. As part of the firm’s mission, CoIP’s real estate portfolio focuses on deep value add strategies, primarily across underserved communities. The firm executes as an owner-operator implementing an ‘origination-to-exit’ model. CoIP owns interests in approximately $600 million in real estate assets including $150 million in active ground-up developments, spanning across the northeast Amtrak corridor. For more information, please visit: .

The Strategy

The Venture has recently purchased an existing portfolio of $150 million in assets.  The Venture plans to add additional properties to a portfolio with a focus on Newark, New Jersey.  New acquisitions will span across property types and risk-spectrum. 

 

The Venture executes a place-based strategy acquiring, repositioning, and operating institutional quality real estate assets in Essex County, NJ. The Strategy will continue the partners' mission-aligned impact-focused execution.  The first phase of this execution will focus exclusively on the execution of the current portfolio consisting of 707 Broad Street, 153 Halsey Street and 261 University Avenue.

Who are we looking for

We are seeking a real estate specialist to assist in a value-add execution of assets located in the heart of Newark.   Our ideal candidate has a passion and demonstrated knowledge of office assets, an analytical mindset and ability to work across various teams to realize an ambitious vision.   You are capable of handling everything from coordinating tenant fit-outs to analyzing financing options.  This opportunity is perfect for you if you like to execute a vision, can work in complex environments and are passionate about cities and communities.


Job Highlights


Compensation


  1. Competitive base salary
  2. Promote/ carried interest bonus potential


Career growth opportunity

  1. Hands on experience throughout the entire life cycle of a property: acquisition to disposition

  2. Become a market expert (Essex County, NJ)

 


Role Overview

  • Be an integral part of a small team with a focused mission of social investing in underserved communities of Essex County, NJ.
  • Execute a place-based strategy where real estate is utilized to empower communities along with other stakeholders
  • You will be part of almost all business functions that are required to reposition and operate an institutional real estate portfolio: Leasing, Property & Asset Management, Construction of Tenant Improvement, Capital Projects, Accounting, and Investor Reporting. 
  • As core responsibility [for at least the first year], the individual will be the primary asset manager for a portfolio of three properties (the "Portfolio") located in Newark, NJ: two office towers and a sizable parking garage. The business plan for the Portfolio includes $60 million in renovations, additional lease-up, repositioning and rebranding. The Senior Vice President will have a managerial role functioning as the intermediary between the ownership and the various teams.
  • The candidate will be expected to develop a deep understanding of the Essex County, NJ market and assist in expansion of the portfolio; leading to growing into a Director / Managing Director position.

Responsibilities

Asset Management

  • Work with internal and external teams to ensure the successful completion of projects to the satisfaction of all key stakeholders – tenants, investors, local and state government authorities, property management and engineering, and the ownership team
  • Preparing property business plans and spearhead replies to Requests for Proposals (RFPs) for leasing and other related opportunities;
  • Manage a complicated tenant improvement execution across 500,000 SF, which will require coordination to relocate the existing employees;
  • Assist in preparation and submission of development draws, assist property management with CAM reconciliations and tenant communications;
  • Oversee third-party service providers and divisional teams to ensure accuracy and timely deliverables;
  • Monitoring of business plan performance and making tactical and strategic recommendations, as appropriate;
  • Evaluating lease proposals and managing the leasing process;
  • Conducting market assessments and making recommendations based on results;
  • Perform property and portfolio valuations, return analyses and other quarterly and annual reports;
  • Working on special projects including hold-sell analysis, evaluation of refinancing activities, and sector initiatives;
  • Work with management to understand go-forward budgets based on actuals, comparing that with our original underwriting;
  • Prepare asset strategy presentations, annual budgets, and cash flow distributions.

Market Expert and Investment Execution

  • The candidate will be expected to build relationships with market participants including universities, local brokers, county & state agencies, and local service providers. 
  • Research, analyze, and evaluate market feasibility for real estate acquisitions
  • Assist with due diligence for real estate transactions, although the due diligence will be led by a team of junior associates
  • Train and manage a team of junior associates and analysts across teams

Desired values, qualifications & skills

The ideal candidate will value:

  • Whatever it takes approach!
  • Communicator: Open, articulate and proactive in discussing issues and sharing information
  • Entrepreneurial: Thrives in a fast-paced, changing environment and is excited by the chance to play a larger role. Able to navigate projects with high sense of urgency
  • Passionate: Passionate about the business, people, and performance. Self-motivated and positive
  • Self-Starter: Able to take things and run with them. Strategically prioritizes multiple tasks in a proactive manner
  • Creative: Able to see new opportunities not apparent to others
  • Principled: Is ethical; has the utmost integrity and is a positive example for others to emulate. Embraces our grand vision and colossal mission
  • Detail Oriented: Able to get in the weeds, understand things, and ensure others do too
  • Thinker: Maintain exceptional organizational, problem solving and analytical skills with the ability to process and convey information with key attention to detail and consistency

 

And have a background & skillset that includes

  • Minimum of 7 years of experience in real estate industry. Previous experience with a real estate owner/ operator or real estate investment management or development firm preferred
  • Strong background in project management
  • Previous experience with office properties required
  • Advanced knowledge of Microsoft Office and functional knowledge of Yardi
  • Previous experience with various tax credits is a plus
  • An undergraduate degree is required with a track record of strong academic performance

 

Compensation

This is a full-time role with an annual salary range of $125,000 - $175,000 based on level of experience. This position includes company standard benefits:

  • Stellar medical, dental and vision health benefits
  • Flexibility: May work from home partially
  • 401(k) contributions and matching
  • Vacation, sick and paid holiday time off
  • Opportunity for advancement in a growing organization
  • A culture based on our values and that matters!
 

Job Sector


 

Experience


5+ to 7 years


This job is no longer active.

Asset / Portfolio Management Office Newark Full Time NJ Asset Management, Development, Finance Summer Analyst (Internship) other