Description
Middleburg seeks a senior real estate executive who is responsible for overseeing the performance, strategy, and lifecycle of assets in the Development pipeline. The right individual will help to ensure that projects are delivered on schedule, in line with business plan and pro forma, within budget, as well as drive operational performance and efficiencies for all assets in the portfolio and are aligned with the Middleburg standard. As a vertically integrated company, the VP of Asset Management will collaborate with the Development, Capital Markets, Construction, and Operations teams as well as external partners to optimize value throughout the portfolio.
This position will be based in Charlotte, NC and focused on the portfolio located in the Southeast.
Essential Duties and Responsibilities
- Working with the Development team to set the standard and quality of product:
- Identifying opportunities for value creation and revenue generation within the portfolio.
- Manage pre-delivery unit inspections, standards walks and acceptance of units on behalf of ownership.
- Identify, assess, and mitigate project and portfolio risks.
- Be a market specialist – understand the dynamics of a lease-up, rental analysis and pricing strategy.
- Collaborate with operations and marketing teams to align pricing strategies with leasing velocity, occupancy targets, and market demand.
- Provide revenue management best practices across the portfolio and executing oversight of these policies and governance to ensure consistent execution across assets and markets.
- Responsible for establishing and managing lease-up and annual budgets with assistance from Development Partner and Property Management teams.
- Analysis and comparison of Valuation reporting:
- Providing snapshot summary and benchmarking of in-place rents and NOI comparison to valuation on a quarterly basis.
- Strategizing with Property Management to align Operational goals with Valuation goals and supporting operational stabilization to achieve forecasted performance.
- Provide overall project benchmarking on a quarterly basis as it relates to construction schedule, development budget, lease-up pace, Valuation, and other project milestones as requested.
- Ability to negotiate and standardize contracts across their portfolio to drive optimal cost savings, operational efficiency, and vendor performance.
- Quality control over reporting issued by the Development team to include oversight of forecasts, exposure, construction schedules, contingency usage, and monthly narratives.
- Complete monthly market tours in conjunction with Asset Management responsibilities.
- Responsible for internal and fund reporting for Development pipeline in their region which includes quarterly project updates and presentation to fund investors as required.
- Will be required to travel frequently to project sites throughout the Southeast.
Requirements
Knowledge and Experience:
- The ideal candidate will have a bachelor’s degree in real estate, Finance, Economics, or a related field.
- Minimum of 8-10 years of experience in Multifamily Real Estate.
- Advanced proficiency in financial modeling, forecasting, and performance analysis
- Experience managing operating budgets and variance analysis.
- Demonstrated leadership and the ability to manage multiple assets in a regional portfolio.
- Proven ability to develop and execute asset-level business.
- Strong knowledge of MS Excel, Word, and PowerPoint is required.
- Strong understanding with multifamily real estate, JVA, legal and loan document negotiation, and multifamily asset management.
- The ideal candidate will have strong interpersonal and analytical skills.
Summary
What we can offer you:
- Great benefits - We offer comprehensive health and wellness benefits tailored to meet your needs. Choose from two medical plan options, including a company-funded HSA plan with 100% premium coverage for employees. We also provide subsidized options for additional family members, as well as dental and vision plan choices. Other benefits include paid time off, paid volunteer time, and company-paid holidays, a 401(k) match, employer-paid Life and AD&D insurance, and educational reimbursement to support your growth.
- A job that challenges you - Middleburg strives for excellence in knowledge, service, and integrity. Excellence in knowledge means that Middleburg recruits and trains top-notch Team Members who are experts in their field and who continue to improve their industry knowledge. Team Members work together to provide excellent customer service that exceeds customers' expectations.
- Great Culture - We embrace a culture of responsible leadership at all levels of our organization that encourages initiative to advance our mission and vision. We honor the dignity of all people, embrace differences, value new ideas, demonstrate empathy, and strive to promote a caring and supportive environment for all. Our team is building a better world, one community at a time.
Who is Middleburg Communities?
At Middleburg Communities, we share a vision for greater value creation through community impact. Our success is rooted in a genuine desire to serve our local communities in thoughtful and holistic ways. By enhancing the lives of others, we contribute positively to neighborhoods and maximize real returns for our partners.
Middleburg is a fully integrated real estate investment, development, and construction firm focused on rental housing in high-growth markets across the southeastern United States. Since 2004, the company has acquired and developed over 22,000 apartment units, executing approximately $3 billion in transactions, and is one of the most active developers and builders of rental housing in the nation with approximately $1 billion in recurring annual development value.
Middleburg Communities is an equal-opportunity employer committed to diversity and inclusion. We welcome qualified applicants from a variety of backgrounds inclusive of their race, color, religion, sexual orientation, gender, gender identity, expression or orientation, genetic information, national origin, age, disability, or status as a disabled or Vietnam-era veteran.