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Argosy Real Estate Partners: Asset Manager or Vice President of Asset Management

JOB POSTING


About the job


COMPANY OVERVIEW


Argosy Real Estate Partners is a real estate investment management company that specializes in opportunistic, value-add, core plus, and Opportunity Zone real estate investments. Through joint venture structures, Argosy partners with entrepreneurial operating partners possessing significant local market knowledge and a demonstrated track record of operating success. Argosy Real Estate Partners currently has $2.0 billion in gross value of real estate assets under management and unfunded equity commitments. Argosy Real Estate Partners manages capital for institutional investors, family offices and high net worth individuals.


The core of Argosy’s investment strategy is investing with experienced operators in properties that provide significant upside potential and controllable downside protection. Working closely with operating partners, Argosy employs a disciplined acquisition approach focused on low-cost basis, risk mitigation, value creation, and multiple exit strategies to generate superior risk-adjusted returns to its investors. Argosy invests in primary and secondary markets throughout the U.S. with a focus on the multifamily, single-family build-for-rent, lodging, office, industrial, retail, and residential land sectors. Argosy is based in Wayne, PA (suburban Philadelphia) with regional offices in San Francisco and Denver.

More information can be found at http://www.argosyrep.com/.


THE POSITION


The Asset Manager or Vice President of Asset Management position will have a critical role in the management, value creation and strategic direction of real estate assets under management across multiple funds. The individual will be responsible for oversight, strategic management, valuations, and reporting of Argosy’s real estate investments. In addition, the individual will play an integral role (in consultation with the firm’s Head of ESG+R) in the implementation of Argosy’s ESG+R (Environmental, Social, Governance and Resilience) Policy, spearheading data collection, reporting, and implementation of ESG+R initiatives. The successful candidate will have the opportunity to join a small, entrepreneurial team, report directly to the Head of Asset Management and manage a wide variety of real estate assets nationwide. It is anticipated that the position will have a 75% allocation to Asset Management and a 25% allocation to ESG+R initiatives. Title will be determined based on the level of experience of the candidate.


RESPONSIBILITIES


Asset Management

  • Coordinate with operating partners to execute property-level business plans and maximize risk-adjusted returns.

  • Monitor and analyze property performance compared to budget, underwriting and overall market conditions.

  • Regularly evaluate disposition strategy and timing, prepare disposition memos and analysis and coordinate with operating partners on all dispositions.

  • Coordinate financings and re-financings of assets.

  • Maintain standardized reporting tools at the asset, fund, and portfolio levels to track key performance indicators, variances, cash flow forecasting, and capital management.

  • Prepare financial analyses and written presentations of key investment decisions, such as financing and sale decisions.

  • Prepare quarterly investor reports, property valuations and financial projections.

  • Review operating partner requests for approval of major decisions including leasing decisions, capital expenditures, annual business plans, and variances to budget.

  • Review capital calls, distributions and loan draw requests.

  • Monitor local market fundamentals, including competitive set trends, new supply, sales comps and economic developments.

  • Ensure operating partner compliance with joint venture documents.

ESG+R

  • Collect, organize, report and track ESG+R information for the firm’s assets.

  • Maintain firm-level ESG+R collateral and case studies.

  • Implement and track capital improvement projects related to sustainability and energy efficiency.

QUALIFICATIONS

  • Bachelor's (master’s degree preferred) in finance, real estate, accounting, economics, or a related field.

  • A minimum of 5 years of relevant real estate and asset management experience.

  • Strong understanding of all aspects of real estate investment, financing, and disposition processes, including but not limited to market analysis, financial analysis, property valuation, and capital markets.

  • Experience with ground-up development and/or significant repositioning projects preferred.

  • Experience with multiple asset types preferred.

  • Demonstrated proficiency with financial statement analysis, accounting and valuation methodologies.

  • Strong interpersonal skills.

  • Ability to communicate clearly and concisely both orally and in writing.

  • Ability to direct and monitor the activities of others on a systematic basis.

  • Advanced Excel modeling capabilities and experience with ARGUS.

  • Ability to meet tight deadlines, manage varied tasks simultaneously, and work within a team in an entrepreneurial environment.

  • Ability to make presentations to senior management, investment committee and/or investors.

COMPENSATION

Competitive base salary; bonus based on individual and firm performance; carried interest potential after minimum employment term.

CONTACT INFORMATION

Cover letters and resumes may be sent via email to:

Caroline Frank, cfrank@argosyrep.com

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