VP, Asset Management

Job Location: Southeast or Mid-Atlantic Cities

Position Summary

The Vice President, Asset Management will focus on asset management responsibilities for Griffin's existing portfolio and pipeline of multifamily assets. The position will also manage relationships with development partners, operating partners, and investors. Responsible for providing asset management services, support & guidance for a portfolio of assets, including among other things, planning and positioning, property administration, financial analysis, budget preparation, and lease analysis.

Duties and Responsibilities

• Present financial metrics to executive leadership on the performance of the portfolio and make strategic recommendations to senior leadership regarding the business plan for individual assets.
• Craft high level leasing and marketing strategy for the Multifamily portfolio and collaborate with operating partners to implement strategic initiatives.
• Work with acquisition team during the valuation process for prospective investments; maintain macro perspective on Multifamily markets, make sector recommendations to investment teams and executive management.
• Strategic contribution to ground-up development projects.
• Utilize research, industry analysis/benchmarking, financial analysis and computer modeling fundamentals to analyze operations, financial reports, annual business plans and long-term strategic plans.
• Provide oversight of property management, including analyzing capital investments, both proactively and reactively. Develop strategic positioning of the property to retain relevancy in the market.
• Conduct periodic property visits on an as-needed basis, to evaluate physical condition of property, property management team performance, positioning of property in its market and communicate expectations.
• Conduct monthly financial reviews to evaluate property performance, identify significant variances and work with property management to develop plans to rectify accordingly.
• Maintain a thorough understanding of all factors affecting markets & submarkets within portfolio including local market knowledge, business demographics, competitive set and supply & demand dynamics.
• Work with the property manager and, if applicable, the construction team to track the progress and cost of capital improvement projects.
• Prepare lender-required reports, oversee lender inspections, ensure the timely satisfaction on lender-required improvements, and track loan covenants.

Qualifications and Skills Requirements

• Six to ten years of experience in Real Estate or Asset Management, with at least three years of experience with multifamily properties required.
• Bachelor's degree from four-year college or university in Real Estate, Finance or related field; or equivalent combination of education and experience.
• Thorough understanding of commercial real estate industry and multi-family sector. Knowledge of real estate markets, trends, and investment strategies. 
• Understanding of fundamental real estate economics and finance principles.
• Solid communication skills with demonstrated ability to prepare concise and informative written presentations in MS Word, MS Power Point and MS Excel. 
• Strong work ethic and initiative, with ability to oversee multiple projects/transactions simultaneously with independence and sounds judgement.
• Strong communication and relationship-management skills, both internally with senior management and externally with JV partners, third party operators, vendors and investors.
• High detail orientation and attention to accuracy in work product.
• Role will include some travel.

Salary and Benefits

Griffin Capital’s salary ranges are determined by role, work location, duration of direct experience, and internal and external pay equity considerations.

• The base salary range for this exempt full-time position is $150,000-$200,000 + bonus eligibility + benefits.* 

At Griffin Capital, we strive to offer a comprehensive and competitive benefits package to our employees. To support the physical, financial, and emotional well-being of employees, we offer:

• Paid time off (PTO) starting at 17 days per year, with increases after 2 years of service.
• A yearly Birthday Holiday and paid time off for community service.
• 100% company paid individual Medical and Dental Insurance.
• 100% company paid individual Life and Long- and Short-Term Disability Insurance.
• 401(k) plan with up to 4% matching and full vesting.
• Company funded Lifestyle Spending Account.
• Access to other health and tax-advantaged benefits.

*Please note that the compensation information provided is a good faith estimate for this position only and is provided pursuant to the California Salary Transparency in Job Advertisements Law. It is estimated based on what a successful California applicant might be paid. It assumes that the successful candidate will be in California or perform the position from California. Similar positions located outside of California will not necessarily receive the same compensation. Griffin Capital takes into consideration a candidate’s education, training, and experience, as well as the position’s work location, expected quality and quantity of work, required travel (if any), external market and internal value, including seniority and merit systems, and internal pay alignment when determining the salary level for potential new employees. In compliance with the California Law, a potential new employee’s salary history will not be used in compensation decisions.

In addition to the above-listed benefits, the firm also offers hybrid work options specific to roles, an employee-led professional development program, and community involvement through its Griffin Care and Community Committee.

Equal Employment Opportunity at Griffin

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age (40 and over), ancestry, color, religious creed (including religious dress and grooming practices), family and medical care leave or the denial of family and medical care leave, mental or physical disability (including HIV and AIDS), marital status, domestic partner status, medical condition (including cancer and genetic characteristics), genetic information, military and veteran status, political affiliation, national origin (including language use restrictions), citizenship, race, sex (including pregnancy, childbirth, breastfeeding and medical conditions related to pregnancy, childbirth or breastfeeding), gender, gender identity, and gender expression, sexual orientation, or any other basis protected by applicable federal, state or local law, rule, ordinance or regulation.

We will consider qualified applicants with criminal histories in a manner consistent with the requirements of the Los Angeles Fair Chance Ordinance and the California Fair Chance Act and consistent with other similar and / or applicable laws in other areas.

We also afford equal employment opportunities to qualified individuals with a disability. For this reason, Griffin Capital will make reasonable accommodations for the known physical or mental limitations of an otherwise qualified individual with a disability who is an applicant consistent with its legal obligations and in accordance with applicable local, state and / or federal law. Any applicant who requires an accommodation in order to perform the essential functions of the job should contact a Human Resources Representative to request the opportunity to participate in a timely interactive process.