Vice President of Asset Management - Capstone Development Partners

Capstone Development Partners is a national student housing developer. We operate under the mantra of “do the right thing” and are known for the collaborative approach we take with our clients, our employees, and in the overall way we conduct business. We believe that our people are our most valuable asset and take pride in our inclusive, family-oriented culture.

We welcome people who are passionate about joining a successful industry leader in student housing development, where you can make an impact, give back to the community, and build a meaningful career, all while working in a collaborative team environment. As part of the Capstone family, you will have the opportunity to help shape the college experience of young people throughout our country while building a successful future for yourself.

What You’ll Be Doing…

We are seeking a Vice President of Asset Management to lead our Asset Management efforts and group, which supports several critical aspects of the business. Primary responsibilities will include leading the Asset Management Division and staff/team responsible for maximizing portfolio performance and long term asset value through strategic oversight of operations, maintenance and capital renewal planning of each asset owned or developed by Capstone Development Partners and/or managed on behalf of university partners, third party and not-for-profit owners. Demonstrated experience supervising, training and managing a modest-sized staff of direct reports is preferred.

Essential Duties and Responsibilities

Monitor property operations of Capstone-owned or operated assets via:

• Regular communication with stakeholders related to marketing, leasing and operational issues of importance.
• Performing regularly scheduled site inspections of assets to identify property conditions as well as market conditions and competitive properties that may impact the leasing program.
• Establishing monthly reporting requirements for property managers.
• Review monthly financials to confirm revenue projections, monitor and help control expenses.
• Capital renewal plan development, implementation and reporting to identify, schedule, coordinate and administer property-level capital renewal.

Oversee / Manage Asset Administration via:

• Collaboration with CFO and accounting team members to distribute proceeds in accordance with governing transaction documents.
• Working with Risk Management teams to ensure property insurance is in place and in effect for the benefit of all asset stakeholders
• Assisting with insurance claims management and any necessary litigation.
• Negotiating and managing leases for retail and office space in mixed-use properties.
• Coordinating and overseeing the development of annual budgets and marketing plans; regularly analyzing asset performance for presentations to stakeholders for approval.

Reporting via:

• Regularly meeting with Principals to review asset performance and discuss financial or facility condition issues of importance.
• Developing and reviewing Asset Management Division revenue and expense projections with Principals.

Business Development via:

• Collaborating with Capstone’s development, construction and property management teams to generate business plans, budgets, schedules, program narratives and execution strategies for new business.
• Generating asset management services proposals and developing marketing outreach plans to universities and private non-profit property owners.

Additional Responsibilities:

• Support and collaborate with Capstone’s developer-led design-build-operational teams during pre-development procurement competitions.
• Lead and negotiate property management and leasing agent selections for Capstone-owned or managed assets, as applicable.
• Direct asset manager staff members in related duties; hire for new positions.

Education and Qualifications:

• College degree.
• 10+ years of relevant experience in project financial management / asset management/facility operations required.
• Experience overseeing facility maintenance and capital planning activities for multifamily and/or student housing properties.
• Strong management, collaboration, and team development skills with a proven ability to lead various project teams.
• Ability to take initiative and use sound judgment on decision making within the scope of assigned responsibilities.
• Maintain trusted and respectful relationships with clients, business partners, and team members.
• Ability to independently and proactively identify, analyze, and resolve complex problems.
• Strong communication skills with the ability to present ideas/concepts effectively, both orally and in writing.
• Proficient in Microsoft Office Suite.
• Proficient with Computer Maintenance Management Systems such as Yardi and Entrata preferred.

Salary range of $130k - $160k, contingent on experience and education. Annual discretionary performance bonus is awarded based on company profitability and individual performance.

For additional information, visit https://capdevpartners.com/