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Vice President, Asset Management – Real Estate

Location

New York

Job description

Position:  Vice President, Asset Management – Real Estate

Reports to:  Director of Asset Management

About Wafra:

Wafra Inc. is a leading global investment firm currently managing approximately $32 billion in assets and commitments across a variety of asset strategies. Behind our investment strategies are talented professionals, principally in New York and other financial centers, who bring expertise and experience to deliver strategic, reward-focused solutions. Wafra seeks to provide long-term investment return solutions that span not just years, but generations.

About Real Estate:

Wafra’s Real Estate Division (Real Estate) is responsible for leading the firm’s direct investments into traditional commercial real estate product types (primarily multifamily, office, retail, industrial, and hospitality). Real Estate’s current investment mandates range from core to value-add with planned expansions into the opportunistic and development risk profiles. The Real Estate team is comprised of 18 professionals. The team’s seasoned senior leadership each have well over a decade of experience in investment roles at either Wafra or other leading financial institutions in the United States. Real Estate’s team and culture emphasize innovative, tactical and collaborative investment strategies alongside a fast-paced approach to pursue superior risk-adjusted returns on behalf of its investors.

Position Overview:

Based out of Wafra’s New York office, the Vice President will primarily be responsible for managing a portfolio of multifamily real estate assets within the United States and may include select retail, office, industrial, and hospitality assets.  The Vice President will be a part of a collaborative team, tasked with oversight, strategy, and execution of asset level business plans.

Duties and Responsibilities:

  • Oversee the performance of assets and execution of business plans by engaging with third party property management firms, investment partners, and other key third parties.
  • Collaborate with team members, investment partners, third party management companies, and other key relationships to oversee leasing, property management, and capital projects.
  • Establish appropriate operating and leasing objectives, negotiate lease terms and ensure the execution of commercial leasing activity where applicable.
  • Prepare annual business plans, quarterly investor reports, and valuations that measure performance against established operating metrics.
  • Analyze market activity, benchmark performance, and become knowledgeable about direct competition at a localized level.
  • Review operating statements in detail, ensuring adherence to annual business plans and established operating protocols (including lender and internal compliance metrics are met).
  • Identify, review, and provide solutions to any and all operational issues that impact financial performance.
  • Assess cash flow needs of the property and work with Accounting/Finance to authorize property level distributions on a monthly basis.
  • Prepare Hold/Sell analysis, assess financing and refinance potential, coordinate and oversee the disposition process.
  • Collaborate, supervise, and guide associate level staff while prioritizing workflow among the team.
  • Support the team during property acquisitions by collaborating with team members and assist with due diligence on potential investments.
  • Travel as necessary
  • Other duties as assigned

Requirements:

  • A. required, MBA or MS with a Real Estate focus preferred
  • The candidate must have a proven track record in asset management. Including, approximately 6-8 years relevant work experience, preferably across a broad spectrum of property types
  • Experience in acquisitions, finance, leasing, or development is a plus
  • Excellent financial/quantitative skills and fluency in Excel, Word, PowerPoint, Argus and property accounting software (e.g., Yardi, MRI, etc.)
  • Must possess the ability to prepare detailed analyses and to make well-reasoned, decisive recommendations to senior management
  • Outstanding communication skills (speaking and writing), leadership, and interpersonal skills
  • Position is based in New York and will be expected to be in-person 5 days a week

 

Wafra and its subsidiaries (the “Company”) require that new hires be fully vaccinated against the COVID-19 virus, except those individuals who qualify for a medical or a religious accommodation under applicable law. All duties and responsibilities of this role are expected to be conducted on-site at the Company offices.

Please send your resume to [email protected] with the subject “Vice President”

This description reflects management’s assignment of essential functions; it does not proscribe or restrict the tasks that may be assigned.

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