LivCor, a Blackstone portfolio company, is a real estate asset management business specializing in multi-family housing. Formed in 2013 and headquartered in Chicago, LivCor is currently responsible for a portfolio of over 400 Class A and B properties comprising more than 150,000 units in markets across the United States.
Our business is focused on making real estate more valuable. But for us, it’s more than that. It’s people first, community always. It’s a life-filled career, not just a career-filled life. It’s doing good work, with good humans, and making a difference. It’s excellence in all its forms. Ultimately, we create great places to work, live, and grow. We do that by focusing on leaving people – and places – better than we found them.
Whew! Still with us? Cool. Let’s talk about where you’d fit in:
LivCor is seeking a Vice President of Asset Management to oversee the firm’s assets across Florida, consisting of approximately 20,000 units.
The successful candidate will be responsible for maximizing the value of the firm's assets. This individual will develop and execute an asset management strategy encompassing property leasing, capital expenditures, and third-party manager relationships. The VP Asset Management will also collaborate with Blackstone representatives on regional investment activities, including due diligence efforts, investment market assessments and property underwriting assumptions. This person will have regional responsibility and will manage through third party service providers, including property management firms and leasing brokers. In this role, the Vice President will also lead a team of three - four asset managers. The successful candidate should have strong leadership skills, with experience in team management and a track record of driving team performance in line with strategic objectives. They will be a member of the asset management team and will have a significant responsibility for, and impact on, the portfolio's financial performance.
This hire is ideally be based in Miami, FL; Orlando, FL; or Atlanta, GA. They will report to Brian Killinger, SVP of Asset Management.
Only read further if you are:
• Smart with Heart
You should be:
• Authentic. You do you. Together, we’ll do something amazing.
• A passionate person with a love for real estate and investing; and believes that helping
others win is a noble cause, essential to our success.
• An excellent team player who enjoys working with others and has strong interpersonal
• Highly motivated, energetic, and organized.
What You Will Do:
• Directly lead and mentor a team of asset managers who are focused on optimizing value of a regionally focused multifamily portfolio.
• Assume responsibility for and drive on-time, on-budget, and market leading investment results, balancing financial and reputational returns.
• Monitor portfolio performance, including net operating income, cash flow and asset value fluctuations, while achieving asset value maximization strategies.
• Optimize portfolio value by implementing defined asset management strategies and identifying operational efficiencies in coordination with the asset managers within your team.
• Set and execute strategy for existing assets; establish operating performance objectives and actions to achieve targets.
• Leverage a robust data platform to analyze key metrics as a basis to uncover and resolve performance issues and opportunities.
• Partner with, assess, influence and performance manage each Operating Partner within the assigned portfolio.
• Be an expert on industry trends, especially technology, to continually implement and improve leading edge strategies within the Asset Management and CapEx teams to drive continued success.
• Acts as a cultural shaper growing LivCor’s culture internally and partnering with operators to execute in alignment with LivCor’s values externally.
• Provide best-in-class performance reporting to senior management on all key portfolio metrics.
• Lead annual operating and capital budgeting process.
• Conduct periodic site visits to assess performance, evaluate market conditions, and establish strategic initiatives.
• Assess capital expenditures by property, develop a long-term cap ex plan for the portfolio that corresponds to established company and/or portfolio strategy.
• Monitor trends of assigned markets and inform senior leadership, Blackstone, and asset managers of strengths and opportunities to help guide relevant asset and portfolio
• Partner closely with the Redevelopment/ROI team to identify and oversee repositioning opportunities.
• Support acquisition underwriting, providing market and leasing assumptions, and participate in due diligence activities.
• Develop recommendations regarding timing of dispositions to maximize value and then execution of the disposition strategy in conjunction with the investments and business
• Refresh, develop and maintain an extensive network of industry relationships to stay current on regional and local market trends.
What You Should Have:
• Minimum of 7-10 years asset management experience within the multifamily industry. Experience with multifamily operations would be a plus. Ideally, overseen a portfolio of
at least 10,000 units.
• Portfolio/asset management leadership experience gained on a sophisticated investment platform. Experience with a public/private REIT is a plus.
• Deep understanding of the multifamily market, and extensive existing network of contacts within the industry.
• Decisive in establishing operating performance objectives, and proactive in implementing programs to enhance portfolio performance and increase the value of the portfolio over the hold period; ability to make timely decisions, with imperfect information.
• Ability to excel at hands-on asset management responsibilities for the regional portfolio described above.
• Ability to think and act strategically, along with a demonstrated track record of sound business judgment. Ability to define and execute asset management strategy, including
leasing and property management via third party providers.
• Comfort level with ambiguity which does not inhibit decisiveness as appropriate levels of analysis are completed.
• Excellent financial acumen with strong ability to drive sophisticated financial analysis.
• Strong communication and negotiation skills are critical. Must have the ability to effectively convey ideas and recommendations, and support positions.
• Strong personal presence and style which fits well within a collaborative culture.
• Outstanding personal qualities including self-confidence, unquestioned integrity and mature self-starter with the ability to work independently.
• Thoughtful, analytical approach and willingness to assign and personally assume accountability.
• Ability to build relationships across the Company, and quickly build credibility and gain the trust and confidence of colleagues.
• Credible, and able to gain respect inside and outside a well-regarded organization with demanding investors.
• Experience with investment due diligence process.
• Strong academic credentials and a progressive professional track record demonstrating excellence in all pursuits.
What We Offer:
We know that if we take care of our team everything else will fall into place. We aren’t perfect, but we will try to set very clear expectations, always let you know where you stand, and do everything in our power to help you get where you want to go.
Our culture and values matter to us. A lot. We’re definitely not serious but we take this stuff seriously, if you get what we mean. We want a place that is an ego-free zone. A place where good people do good things together. It shouldn’t be rocket science in workplaces, but for some reason it still is? We’re absolutely determined to be different, and we think we’re doing a pretty good job at it. We have a CEO who makes fun of himself, and who will encourage you to tell him when he is wrong. In fact, he needs people to – we all do. Supportive challenge is good, it’s how we get better. We like getting better. We also love diversity, of all kinds. We need people who look, sound, speak, love, and exist differently from one another. This isn’t at the end of this paragraph because it’s an afterthought. It’s SO important to us we want it to stand out.
Right. On to the technical stuff that we know matters to you. We offer competitive pay that is commensurate with the market and relevant experience, and a full slate of benefits that even includes things like paid parental leave.
If any of this sounds interesting, then maybe we are a fit. Life is too short to work with people you don’t like. So whatever you do, don’t make that mistake.
The LivCorian Values
1. Be you. Be Real. Be Open. You do you. Together, we will do something amazing.
2. Care, Always. We don’t want to let anyone down.
3. Courageously Curious. We love to learn, even when it hurts.
4. Help Others Win, Be A Good Neighbor. This is about ‘We, not Me.’
5. Relentless Hustle, Heart & Humility. Work hard. Be Kind. Make Better.
A few of the people you will work with
Our company is proud to be an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. Our employment decisions are based on individual qualifications, job requirements and business needs without regard to race, color, marital status, sex, sexual orientation, gender identity and/or expression, age, religion, disability, citizenship status, national origin, pregnancy, veteran status and or any other legally protected characteristics.