VP of Preservation Acquisitions and Asset Management

Hispanic Housing Development Corporation • Chicago, IL, United States • $200k - $250k / year • 1m ago

SUMMARY

The VP of Preservation Acquisitions and Asset Management is responsible for providing strategic direction for the acquisition of preservation properties to further the long-term goals of the organization. The VP researches opportunities to acquisitions by contacting brokers, owners, government officials, and other prominent persons in the industry. The VP evaluates risk and reward of potential acquisitions, determines financing strategy and arranges debt and equity financing. The VP will also provide asset management for all properties in the portfolio including the administrative and financial management of the operational assets. The VP is a member of the Senior Management Team working to strategize short-range and long-range organizational goals.

ESSENTIAL JOB FUNCTIONS include the following:

Provides strategic direction for the acquisition of preservation properties.
Researches opportunities to acquisitions.
Evaluates risk and reward of potential acquisitions.
Determines the financing strategy and arranges debt and equity financing.
Implements and actively manages value-add strategies at the respective properties.
Monitors property returns and drives return on investment through value-add strategies.
Responsible for developing and approving property budgets, including capital expenditure costs and programs with property management.
Closely monitors property operations and leasing strategies.
Monitors and approves monthly property cash distributions from each property.
Conducts in-depth review of monthly financial statements and financial information provided by each property.
Identifies and analyzes property market trends and major budget/forecast variances.
Provides property write-ups for quarterly reporting requirements.
Responsible for valuations of respective properties.
Other projects or duties as assigned.

WORKING ENVIRONMENT

This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. Position experiences interruptions, need for frequent shifting priorities, and deadlines.

PHYSICAL DEMANDS

The physical demands are representative of those that must be met by an employee in an office setting to successfully perform the essential functions of this job: talking, hearing, walking, sitting, standing, stooping, kneeling or crouching, reaching, handling; carrying and lifting objects, using office and computer equipment (visual contact and keyboard manipulation) as well as the telephone system. Regular, predictable attendance is an imperative job function. Evening and weekend work may be required as job duties demand. Requires travel to prospective acquisition sites and current properties.

MINIMUM QUALIFICATIONS

Bachelor’s degree in finance, accounting or business, MBA preferred.
7-10 years' real estate experience involving operations, investment analysis, transactions and asset management experience is required.
Expertise in finance, marketing, revenue maximization, strategic planning, budgeting, forecasting, administration, operations, training, and effective leadership are required.
Affordable Housing experience is required.
Strong knowledge of tenant/landlord practices, laws, rules and regulations.
Knowledge of market, feasibility analysis and financial structures is a must.
Experience closing real estate transactions.
Demonstrated problem-solving/decision-making skills with the ability to understand a complex portfolio and identify growth opportunities.
Proficiency in discounted cash flow modeling, including experience with Argus, Excel and Word.
Strong communication and interpersonal skills.
Ability to deal with a multitude of different people at all levels.
Highly motivated, self-starter.
Valid driver’s license, vehicle, insurance and good driving record.

SUCCESS FACTORS

Is ethical, responsible, and dependable and fulfills obligations.
Conveys a professional and friendly demeanor when communicating with business associates and others to build and maintain positive relationships.
Exercises sound judgments in stressful situations in order to solve problems quickly and efficiently.
Demonstrates flexibility and adaptability.

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