VP of Asset Management and at Capstone Oceanside, California

VP Of Asset Management And Development

Location: Carlsbad, CA | Job Type: Full-time, In-Office Industry: Commercial Real Estate | Reports To: COO Compensation: $175,000 - $210,000 Base Salary + Discretionary Bonus

Now in our 30th year, Capstone Advisors is a privately held real estate investment and development firm known for its entrepreneurial spirit and collaborative culture. Our diverse, multi-state portfolio includes retail, industrial, office, and land assets for residential and commercial development. We pride ourselves on creating thoughtful real estate strategies and delivering long-term value across all asset types.

The Opportunity

We are seeking a strategic and results-oriented VP of Asset Management and Development to oversee asset performance across our commercial property portfolio. This role will lead the development and execution of asset-level strategies to maximize value, drive operating performance, and support portfolio objectives. The VP of Asset Management and Development will work closely with internal teams, property managers, leasing partners, and third-party stakeholders to evaluate investment performance, guide business plans, oversee capital projects, manage entitlement and development efforts, and support key decisions related to leasing, budgeting, and hold/improve/sell strategy. It is an excellent opportunity for a well-rounded real estate professional who thrives in a fast-paced, team-oriented environment and brings a strong combination of financial, operational, and strategic leadership.

Key Responsibilities

Asset Management/Development Responsibilities

Oversee the strategic planning for the existing commercial assets and development portfolio by preparing and leading the development and execution of annual property business plans.

As part of the annual business planning process, evaluate assets for hold/improve/sell recommendations through review of key factors like asset condition, capital needs, leasing forecasts, market conditions, financial return projections, etc.

Lead and manage the finance team and development consultants on major development, redevelopment and/or capital improvement initiatives through (i) analysis of property characteristics to determine feasibility, advisability and financial implications; (ii) selection and coordination of architects, contractors, consultants, etc. to implement improvement plans; (iii) creation and approval of budgets and proformas; (iv) working in conjunction with senior management, interface with governmental officials concerning property, zoning and development entitlement issues.

Oversee the preparation of quarterly asset management reports for senior management and joint venture partners.

Conduct periodic in-person site tours of portfolio assets to evaluate tenant experience, merchandising/curb appeal, competitive positioning, and operational opportunities; translate observations into prioritized leasing and value-add action.

Leasing/Marketing Responsibilities

Lead the in-house and third-party leasing teams to develop and execute successful leasing programs for all company properties, including:

Select and manage all third-party leasing brokers representing Capstone's assets providing direction to create and execute successful leasing strategies.

Establish and manage the leasing plan of each property and evaluate economics of prospective leases to ensure financial goals for new and renewal leases are met or exceeded, and lease documentation is appropriate.

Build strong broker relationships to maintain a broad range of knowledge concerning geographic markets containing the Company's assets, including analysis of (i) competition, (ii) rental and NNN rates, (iii) occupancy and absorption rates, (iv) current and proposed real estate development and (v) significant events.

For key significant prospective or renewal tenants, lead negotiations in accordance with the annual leasing assumption budgets, prepare the financial analysis to support the decision of approval/disapproval of proposed tenants and present approval lease packages to senior management.

Develop and execute strategies to achieve strong tenant retention rate.

Identify upcoming lease expirations and proactively engage tenants to structure renewal plans.

Ensure approved lease packages are complete, executed by senior management and transitioned to property and construction management teams to onboard new/renewal tenant.

Maintain an active presence in each core market including regular broker/tenant outreach and ongoing industry networking.

Lead, manage, and mentor the leasing team by setting clear goals and performance expectations, coaching day-to-day execution and professional development, and providing timely, actionable feedback through regular 1:1s and in-the-moment guidance, complemented by structured mid-year and annual performance reviews.

Finance/Accounting Responsibilities

Assist VP of Finance and Accounting to evaluate proposed debt and equity capital for existing assets and prospective acquisitions.

Serve as the primary point of contact for JV partners, coordinating recurring reporting and meetings.

Forecast cash flows and cash positions for each property to ensure sufficient capital is available. Advise VP of Finance and Accounting and senior management of cash positions and future needs for capital calls or available cash distributions.

Work with Accounting and Finance team to review and provide comments on loan terms and documents.

Acquisitions/Dispositions Responsibilities

Work with the Director of Acquisitions and Dispositions to execute transactions for the company.

Assist in the acquisition due diligence activities to ensure comprehensive business plans are established and achieved for new investments.

Assist in the due diligence process of property acquisitions by participating in the gathering and evaluation of key leasing and underwriting assumptions.

For assets that have been identified for disposition, assist in the process of solicitation and evaluation of investment sales brokers and make recommendations to Senior Management for approval.

Oversee the preparation and approval of marketing and due diligence materials.

Evaluate and make recommendations on selection of buyers.

Monitor and coordinate the provision of materials to support buyer's due diligence.

Industry Engagement/Administration Responsibilities

Represent Capstone Advisors and contribute to the firm's brand and market presence through networking, panel participation, and industry publications or other thought leadership activities.

Develop and implement initiatives to leverage new technologies to help improve efficiency and cost effectiveness of the department.

What We're Looking For

Bachelor's degree in business, finance, economics, accounting, or real estate. MBA or a master's in real estate is a plus. 15+ years of proven success in asset/property management, leasing, and construction in the retail industry. Experience overseeing entitlement efforts and working with municipalities, consultants, and external stakeholders. California Real Estate Salespersons License. Strong communication and negotiation skills. Excellent analytical and problem-solving skills with a strategic mindset. Proven leadership skills. Proficiency and recent working experience with Argus (required) and Yardi (preferred).

The Capstone Culture

Our team is guided by a strong set of Core Values that shape how we work and who we hire:

We pursue successful outcomes through thoughtful planning and execution, always learning from our efforts.

We embrace change, continuous improvement, and personal growth.

We value meaningful work, recognize individual contributions, and support work-life balance.

We empower our team through clear goals, honest feedback, and open communication.

We collaborate as a team to make better decisions and achieve shared success.

We lead with integrity-fair, honest, and accountable in everything we do.

Ready to Join Us?

If this opportunity resonates with you, please send your resume and a cover letter to Tambra Wayne at View email address on click.appcast.io. Learn more about Capstone Advisors at