Vice President Asset Management
Vice President Asset Management
- Job ID
- Job Location
- Asset Management
- Scottsdale - Progress Residential
Progress Residential® is one of the largest providers of high-quality, single-family rental homes in the United States. With more than 30,000 homes in fifteen of the country’s fastest-growing markets, our residents appreciate the flexibility, freedom and convenience of living in a single-family home without the obligations of home ownership. Progress is committed to making the home rental process easy and enjoyable for the 100,000 residents we serve by empowering our team members and investing in innovative systems and technology.
Over the past three years our portfolio has doubled in size and we have added new executive leadership, including the recent appointment of Charles “Chaz” Mueller to Chief Executive Officer. We see increasing demand for professionally managed single-family rental homes and anticipate continued growth.
Progress Residential has a national footprint with our executive office located in Dallas, Texas, our corporate office in Scottsdale, Arizona and regional offices in Atlanta, Charlotte, Dallas, Houston, Indianapolis, Jacksonville, Las Vegas, Memphis, Miami, Nashville, Orlando, Phoenix, Raleigh, Sarasota, and Tampa.
The Vice President, Asset Management will build and lead a lean and highly-capable team of asset management professionals responsible for directing and executing ongoing portfolio optimization initiatives for the nation’s largest private single-family rental operator. This includes, but is not limited to, identifying underperforming assets and executing strategies that improve cash flow margins and total returns through capital recycling and/or reinvestment programs. Designs, builds, and manages a best-in-class asset management platform dedicated to providing streamlined and transparent processes for evaluating and repositioning core assets as well as underwriting, marketing, and selling non-core assets. The Vice President, Asset Management will work with cross-functional stakeholders from Property Operations, Acquisitions, Pricing & Revenue Management and Financial Planning & Analysis to identify opportunities for improved operating performance—including ways to drive additional revenue and control expenditures. The ideal candidate will possess exceptionally strong real estate finance and analytical skills as well as be very comfortable working with data to support recommendations.
- Directs and executes capital improvement and real estate disposition strategies designed to enhance asset- and portfolio-level returns and create value for investors
- Completes gain/loss, accretion/dilution, net cash flow and other financial and operational analyses tied to capital improvement and disposition initiatives
- Seeks and analyzes data from a variety of sources to support decisions and to align others with the organization’s overall portfolio optimization strategy
- Evaluates underperforming assets within the real estate portfolio and determines optimal strategy for maximum value creation
- Identifies disposition and reinvestment properties through review of financial and operational performance
- Creates and manages external relationships with brokers, owners, operators, and other industry participants to expand the channels the organization may pursue when selling non-core assets
- Visits local operations teams and conducts site visits for owned real estate and competitive properties on an as needed basis
- 10 or more years’ experience in real estate asset management
- Bachelor’s degree required, MBA preferred
- Previous real estate experience required, preferably with an institutional owner-operator or REIT
- A leader who is viewed by others as having a high degree of integrity and forethought in his/her decision-making approach
- A person who leads through inspiration and competency and not through rank or position
- Exceptional judgment and critical thinking abilities; demonstrable asset management technical skills
- Excellent business acumen and strong analytical skills
- Results driven, disciplined and hard-working with a focus on setting and meeting aggressive deadlines and budgets
- Ability to communicate effectively (verbal and written) with both internal and external stakeholders
- Resourceful and able to take ownership of projects and relationships; ability to work independently
- Ability to adjust rapidly and frequently to new situations and help others understand and adapt to change
- Experience with, and sophisticated approach to, multi-stakeholder relationship management
- Willing and able to work in a fast-paced atmosphere with a wide range of responsibilities and deal with constantly evolving deadlines, requirements and challenges
- Mastery of MS Excel for analytical modeling
- Travel as needed
This brief summary is not an all-inclusive description of job duties. Other job duties and responsibilities may also be assigned by the incumbent’s supervisor at any time based upon Company need.
Progress Residential is a proud Equal Opportunity employer, m/f/d/v.