Senior Vice President, Multifamily Asset Management

About Us

About the Company: Pacific Urban Investors (‘PUI’) is an industry-leading multi-family investment firm and pension fund manager. Headquartered in Northern California’s innovative Silicon Valley, PUI is focused exclusively on the multi-family rental space. The firm has successfully deployed well-timed strategies to the benefit of its institutional partners and stakeholders throughout major MSAs across the United States.

Since its inception in 1998, PUI has completed over $16 billion in apartment transactions on behalf of its own account and those of its strategic institutional partners. Today, PUI has over eighty professionals and an owned apartment portfolio in excess of $9 billion. More information can be found at www.pacificurbaninvestors.com.

Position Overview

Job Description: Pacific Urban Investors, a leading private real estate investment firm, seeks a Senior Vice President, Multifamily Asset Management who will oversee and direct strategic, operational, and acquisition aspects of a growing portfolio of apartment communities in the Boston, NYC, NJ, Atlanta, and DC areas. The employee will report to the Head of Asset Management. This position will work full-time in our NYC office, and candidates must reside in the NYC area. Regular travel to PUI’s East Coast assets is required.

Responsibilities for the Senior Vice President, Multifamily Asset Management include overseeing the assigned asset managers and “running the business” of a portfolio of multifamily apartments in East Coast markets, such as formulating and executing short-term and long-term asset management strategies, overseeing property operations, and working with the investment team to facilitate growth of the portfolio.

The Senior Vice President, Multifamily Asset Management will be a confident, dynamic, and sophisticated asset management professional with a thorough understanding of institutional real estate, significant multifamily experience, and a demonstrated track record of value creation.

Experience with market-rate multi-family portfolio operations and management is essential and required.

Primary Responsibilities & Duties:

• Lead, mentor, and develop the East Coast team.
• Provide strategic direction and oversight for the East Coast portfolio.
• Act as East Coast market expert, monitoring competition, pipeline, and economic drivers.
• Identify and implement revenue-enhancing initiatives and operational improvements across the portfolio.
• Support underwriting and due diligence for new investment opportunities; oversee the onboarding and integration of new investments into the East Coast portfolio.
• Review and ensure execution of the comprehensive annual business plan for each asset; know the capital structure details for each asset.
• Visit all properties regularly to ensure asset plan execution is on track and in line with PUI expectations.
• Review and approve annual operating budgets, capital investment plans, and provide input on capital budgets.
• Oversee leasing/marketing plans, cost control strategies, risk management strategies, and other significant operational items to increase/maximize value.
• Review/monitor property tax basis/appeals.
• Coordinate with all PUI departments to ensure each asset strategy is clearly communicated.
• Review financial reporting and variance analyses to ensure that financial statements are accurately presented.
• Respond timely and diligently to requests for information from investment partners.
• Represent PUI and participate in Investment Committee meetings and the approval process.
• Calibrate/optimize assets scheduled for sale; participate in the valuation analysis/recommendation process.
• Participate in the hiring of PUI and key onsite positions.
• May perform other duties as needed.

Knowledge, Skills, and Abilities:

• Highly self-motivated, confident, and driven.
• Ability to lead and manage people and work effectively in a fast-moving yet collegial environment.
• Strong intellect and strategic thinker with solid quantitative, financial, and analytical skills.
• Exceptional interpersonal skills include the ability to develop strong relationships with clients, finance partners, and colleagues.
• Proficiency with spreadsheets and other financial and presentation software, such as Microsoft Excel and Word, is required. Experience with Yardi, Apartment IQ, and Revenue IQ software is a plus.
• Experience with emerging multifamily technologies and tools that assist on-site staff with property management responsibilities.
• Executive presence enabling effective interaction with existing clients, colleagues, and prospective clients.
• Impeccable integrity, trustworthiness, and reputation within the real estate industry.

Education & Experience:

• Bachelor’s Degree required; advanced master’s degree in real estate or business preferred.
• 10+ years of market-rate, multi-family real estate experience, including leadership of teams and portfolios.
• Qualified candidates will have overseen a portfolio of diverse multifamily communities while leading/supervising personnel.
• Strong financial, analytical, and strategic skills are required.
• Demonstrated experience in multifamily asset management and operations is essential.
• Thorough understanding of financial statements and reporting.
• Solid knowledge of property valuation techniques and practices.
• Excellent working knowledge of building systems and ability to understand architectural plans.
• Detailed understanding of the due diligence process for new investment opportunities; some experience with and a strong understanding of real estate acquisitions is required.
• Experience in overseeing and managing construction renovation projects is required.
• Strong interpersonal skills with a demonstrated ability to work with internal and external business partners, consultants, and clients.
• Ability to communicate complex issues effectively and professionally, both verbally and in writing, to senior management and clients.

Please Note:

• For consideration, please reply to this job posting.
• No phone calls or emails to members of the firm.
• PUI would like to thank you for applying; however, due to the volume of responses received, only qualified candidates will receive a response.
• Local candidates in the NYC area only, no relocation expenses provided.

Benefits Overview:

The compensation plan for this role will be commensurate with the skills required for the position. As such, it will be comprised of a base salary and an annual performance-based incentive, which is determined upon individual and portfolio performance. The Company offers a comprehensive benefits package to include:

• Paid Time Off + Paid Holidays
• Paid Sick Time
• 401k + Employer Contribution
• Medical (H.S.A./HDHP option w/ Employer Contribution)
• Dental
• Vision
• Flexible Spending Accounts
• Group Term Life/AD&D
• Voluntary Life/AD&D
• Long-Term Disability
• Buy-Up Long-Term Disability
• Employee Assistance Program
• Fitness & Wellness Program
• Other Voluntary Plans

Depending on the role, other benefits such as commissions, an educational assistance program (tuition reimbursement), a referral program, and/or a car allowance may be applicable.