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    Senior Director, Asset Management - Denver, United States - Virga Capital

    Virga Capital
    Virga Capital Denver, United States

    3 weeks ago

    Default job background
    Real Estate
    Description

    POSITION TITLE:

    Senior Director, Asset Management

    POSITION SUMMARY:

    The Senior Director of Asset Management is a key leadership position. The Senior Director will maximize value of the Company's hotel and multifamily real estate portfolio by providing leadership in the fields of finance, accounting, operations, and third-party property management.

    ESSENTIAL FUNCTIONS:

    Specific job responsibilities include, but are not limited to:

    Asset Management


    • Driving on-time and on-budget, market-leading investment results.


    • Review and assess portfolio operating performance with great attention to detail in financial reporting and market analysis.


    • Oversight of investor distributions, refinance opportunities, and disposition analyses.


    • Drive revenue maximization strategies at the property level with third-party property managers.


    • Lead annual budgeting with third-party property managers.


    • Ensure compliance with loan documents and franchise agreements, and in accordance with financial covenants as applicable.


    • Create quarterly asset reports for distribution internally and to third-party investors.


    • Conduct quarterly property site visits to inspect physical condition, meet with on-site staff, and ensure company standards are being upheld.


    • Audit and develop annual business and operational action plans for each property.


    • Oversee capital expenditures and develop capital plans for each asset to drive performance and deliver pro forma returns.


    • Appeal property taxes.


    • Implement risk mitigation strategies and work with insurance brokers to ensure comprehensive coverage is in place.

    Corporate Finance


    • Oversight of Virga's accounting team reviewing monthly close and variance reporting.


    • Oversight and delivery of financial reporting to internal and external stakeholders.


    • Ability to analyze financial reporting in great detail to drive innovative business strategies and execution.


    • Primary contact for corporate banking relationships and existing lenders.


    • Oversight of tax advisory team, which will include basis allocation studies, cost segregation, depreciation, and capital planning to optimize corporate and investment level performance.

    Acquisitions and Integration


    • Lead property acquisitions from contract negotiation through due diligence to closing.


    • Onboard and integrate new acquisitions and development projects into asset management workflows and processes.


    • Review and negotiate loan documents, mitigating risk for Company and investors.


    • Ability to review and negotiate other documents, including but not limited to joint venture agreements, property management agreements, and purchase and sale agreements.


    • Perform physical and legal due diligence with third-party vendors and legal team.


    • Review and approve initial business plans for potential acquisitions.

    YOU WILL BE A GREAT FIT IF YOU:


    • Are a self-starter and do not need to wait to be told what to do.


    • Are proactive and always thinking several steps ahead to anticipate and solve for problems before they arise.


    • Have excellent organizational and communication skills, both verbal and written.


    • Have a strong background in and experience with Microsoft Excel and Google Workspace.

    SKILLS AND DESIRED QUALIFICATIONS:


    • Minimum 5+ years of asset management experience. Experience with hotel operations is a plus.


    • Asset management leadership experience gained at a sophisticated investment platform.


    • Deep understanding of the hotel investment market and extensive existing network within the industry.


    • Ability to think and act like an owner and define and execute asset management strategy, including leasing and property management via third-party providers.


    • Comfort level with ambiguity, which does not inhibit decisiveness as appropriate levels of analysis are completed.


    • Thoughtful, analytical approach and ability to assign and personally assume accountability.


    • Experience with investment due diligence process.

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