Vice President of Special Assets

The Vice President of Special Assets is responsible for the strategic oversight and operational execution of underperforming, distressed, or high-priority assets across the portfolio. This role leads turnaround initiatives focused on stabilizing occupancy, improving collections, enhancing operational performance, and protecting asset value.

The VP of Special Assets serves as a rapid-response leader, partnering with operations, compliance, and ownership to diagnose issues, implement corrective action plans, and drive measurable results within defined timelines.
Key Responsibilities include but are not limited to:
Asset Stabilization & Turnaround Execution

• Assume direct oversight of designated underperforming assets
• Develop and execute 30-60-90 day recovery plans with clear KPIs
• Drive improvements in occupancy, leasing velocity, and NOI performance
• Identify and eliminate operational inefficiencies and revenue leakage

Lease-Up & Occupancy Strategy

• Oversee struggling lease-ups and assets below stabilized occupancy
• Align pricing strategies with market conditions and demand trends
• Implement targeted marketing, outreach, and conversion strategies
• Monitor traffic, applications, approvals, and move-in performance

Collections & Delinquency Management

• Lead strategy for assets with elevated delinquency or low collections
• Standardize collection practices, reporting, and escalation protocols
• Partner with legal and compliance teams on eviction and payment plan strategies
• Ensure consistent execution of collection efforts across assigned assets

Operational Oversight & Intervention

• Conduct rapid operational assessments across staffing, maintenance, and leasing
• Identify leadership gaps and implement immediate corrective actions
• Support hiring, restructuring, or reassignment of site and regional teams as needed
• Ensure operational consistency and accountability across assets

Compliance & Risk Mitigation

• Partner with compliance teams to ensure adherence to LIHTC, PBV, and regulatory requirements
• Identify and mitigate operational and financial risks
• Support audit readiness and corrective action plans for compliance findings

Financial Performance & Reporting

• Monitor and report on key performance indicators, including occupancy, collections, and NOI
• Provide regular updates to executive leadership and ownership stakeholders
• Analyze financial trends and recommend strategies to improve asset performance
• Ensure alignment with budget and pro forma expectations

Cross-Functional Leadership

• Collaborate with Asset Management, Operations, Marketing, Compliance, and Facilities
• Serve as a key liaison with ownership groups on high-priority assets
• Drive alignment across teams to ensure execution of recovery strategies

Qualifications

• Bachelor's degree in Business, Real Estate, or related field (required)
• 10+ years of experience in multifamily property management
• Extensive experience with affordable housing programs (LIHTC, RAD, PBV)
• Proven track record of asset stabilization, lease-up execution, and turnaround performance
• Strong financial acumen with ability to analyze and improve asset performance
• Experience managing large, multi-site portfolios

Core Competencies

• Strategic thinking with strong execution focus
• Ability to operate in high-pressure, fast-paced environments
• Strong leadership and team accountability
• Data-driven decision-making
• Excellent communication and stakeholder management

Success Metrics

• Achieve stabilized occupancy targets within defined timelines
• Improve collection rates to company benchmarks (95%+)
• Reduce delinquency and bad debt exposure
• Execute successful lease-ups aligned with pro forma
• Deliver measurable NOI improvement across assigned assets

Position Impact

This role is critical to protecting asset value, improving portfolio performance, and ensuring operational excellence across high-risk and high-opportunity assets.

Benefits as a TRGM Employee:

• Base Salary + Performance Bonus.
• Medical, dental, vision, legal services, flexible spending account, and commuter benefits.
• The benefits package includes 100 percent employer-paid life and disability insurance.
• Employer Matching 401k
• Employee Engagement and Wellness programs.
• Company-paid PTO
• Opportunities for Professional Development and Tuition Reimbursement.

TRG Management is proud to be an Equal Opportunity Employer.

We are a Drug-Free Workplace.

Equal Opportunity Employer
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