Vice President, Asset Management

Job Description

Job Description

The Signorelli Company is a vertically integrated, diversified development company based in The Woodlands, TX. As one of the largest privately held development companies in Texas, Signorelli has more than 30 years of experience in all aspects of real estate development including retail, mixed-use, multifamily, office, healthcare, land development and single-family homes. 

The VP Asset Management will be based in The Woodlands, TX, and oversee a group of office, retail, mixed use, multifamily, self-storage, and hospitality assets representing The Signorelli Company.  The candidate will work with internal resources and third-party management partners to maximize each asset's full potential in the areas of revenue generation, net operating income, employee engagement, guest satisfaction, capital investment/planning and asset preservation. Maturity, strong financial acumen, superior communication and listening skills as well as knowledge of commercial and multifamily operations are critical.

Work Location: On-site – The Woodlands, Texas

ESSENTIAL DUTIES

Asset Management

• Lead and sign off on the creation and review of property-by-property business plans including annual budgets of income, expenses and appropriate capital improvement. In doing so the VP Asset Management will work collaboratively with the internal and 3rd party property management and accounting teams.
• Effectively communicate with the Executive Committee at least quarterly on portfolio performance, asset plans, leasing activity, budget variances.
• Track and ensure required reporting to partner groups and participate/lead required review meetings.
• Evaluate each assets’ income and expense performance and regularly compare the same to market comps.
• Identify and implement opportunities to increase income and/or reduce expenses such as appealing real estate tax assessments, advances in technology, strategic utilization of third-party consultants, managing utility expenses and/or increasing recoveries from tenants or residents.
• Provide analytic support in determining the feasibility or advisability of potential leasing rate changes or incentives on residential and commercial assets, capital projects and other value-add asset opportunities.
• Review and have a working understanding of legal documents associated with assets, ensuring compliance related to performance and management.
• Coordinate and participate in positioning/repositioning opportunities and leasing strategies.
• Conduct regular site inspections and report on the same.
• Conduct due diligence of legal documents, financial reports, operating projections, sales comps, surveys and marketing information.

Finance & Accounting

• Work with the corporate accounting team to ensure all properties are properly insured, balancing risk with fixed cost.
• Work with the CFO on each asset type to evaluate opportunities for advantageous debt structuring refinancing and disposition opportunities.
• Track debt maturities and lender mandated financial covenants such as loan to value and debt service ratio coverages.
• Analyze cost saving opportunities and income generating ideas with the goal of increasing property NOI.
• Perform regular and ad-hoc financial analysis and ongoing review of revenue data, forecasts, performance metrics, and profit/loss statements.

ADDITIONAL RESPONSIBILITIES

• Attend (or delegate to the appropriate staff) cross-departmental meetings including tenant construction meetings and leasing tours.
• Promote, establish and maintain positive relationships with tenants via on-going and proactive communication.
• Maintain awareness of local markets and competitive property set. Engage with real estate peers outside of the company.
• Establish and maintain strong, positive working relationships with internal departments and third-party partners (property management, owner partners, lenders, investors, and the brokerage community).

SUPERVISORY RESPONSIBILITIES

• Provide leadership and mentorship to the asset management team, fostering a culture of collaboration, excellence, and continuous learning.
• Conduct monthly operational reviews, including financial results and management strategies for cost savings and revenue enhancements.
• Oversee the hiring and career development of asset management staff, ensuring all employees are qualified and capable of achieving their goals.
• Review, approve and report on monthly, quarterly and annual budget variances, identifying and recommending corrective action and areas for potential improvement

CORE VALUES

• Integrity:  Do the right thing, always. Corporate sustainability can only be achieved through trust and integrity.
• Growth: Strive to do more. There is no growth in your comfort zone and no comfort in your growth zone.
• Innovation: Think differently. Innovation is the ability to see change as an opportunity, not a threat.
• Vision: A strong team turns a vision into reality. We focus not on where we are, but where we are headed.
• Excellence:  Excellence is not a skill, it’s an attitude. We are what we repeatedly do. It is not an act, but a habit.

EDUCATION

• Bachelor’s degree required (preferably in Business, Economics, Finance, Real Estate, or Accounting)

CERTIFICATIONS

• Industry certified with CAM or CPM

EXPERIENCE

• A minimum of 8-10 years of experience in asset management and real estate.

TALENTS

• Proven management and leadership skills to lead a team of top performers.
• Excellent time management skills with a proven ability to meet deadlines and written and verbal communication skills.
• Relationship Management skills including managing and engaging stakeholders, customers, and vendors, building relationship networks, contracting, etc.
• Detail-oriented with exceptional analytical and organizational skills
• Professional manner and a strong ethical code.
• Ability to multitask and remain motivated and positive.
• Experience in implementing systems and scaling processes.
• Advanced user in Microsoft Office Suite, especially Excel for modeling.

The Signorelli Company is committed to providing an environment of mutual respect where equal employment opportunities are available to all.  We seek to empower everyone’s diverse experiences to maximize our organization’s talent and capabilities.

This job description is not meant to be an “all-inclusive” list of the duties and responsibilities of this job.   The Signorelli Company reserves the right to change or modify job duties as necessary based on business necessity.