Regional Vice President of Asset Management - Intermountain
Location: Farmington or Riverton, Utah
Type: Full Time
Preferred Education: Masters
CenterCal Properties is currently seeking an experienced Regional Vice President of Asset Management. In addition to a competitive compensation package, CenterCal offers a comprehensive benefits package and company culture that’s offers flexibility, is collaborative, family-oriented and focused on the health and well-being of its strongest asset – all employees!
Medical, dental, vision, short-term disability, long-term disability and a group term life benefit. • 401k plan - Under the Company’s current benefits package, eligible employees can begin participating after 90 days of employment. Company will match 100% up to the first 3% and 50% of the next 2% for a maximum of 4% depending upon your contribution percentage. • Financial advisement services through RBC, the company’s 401k advisor. • Three weeks of accrued vacation. • Six days of sick leave per year. • Company paid holidays – all Federal holidays (excluding President’s Day) plus the day after Thanksgiving and Christmas Eve. • Two paid community service days – one individual volunteer day and one company-sponsored. • Flexible spending accounts and more!
The Regional Vice President of Asset Management - Intermountain is responsible for driving top and bottom-line performance of CenterCal’s property management portfolio located in the Intermountain region. This position leads regional operational activities on signature, flagship projects focused on placemaking and the quintessence of the customer experience. This position reports to the President, Intermountain and works very closely with the President of Properties.
This is a leadership position responsible for setting the strategic direction and overseeing the overall performance of property operations, asset preservation, tenant relations and employee and customer satisfaction. The incumbent will have primary responsibility for leading the firm’s talented intermountain property management team and building a collaborative relationship with the regional development, leasing, construction and tenant services teams.
The Regional Vice President of Asset Management will be based in Farmington or Riverton, UT. Frequent travel within the assigned region will be a requirement of this position.
Key Responsibilities (include but are not limited to):
Provide regional leadership and direction in the achievement of the Company’s mission, strategy, and its annual goals and objectives from the regional portfolio level down to the individual asset level.
Support the development of the portfolio operations and asset management strategy; ensure its integration with the Company's overall strategic planning process, and the resulting business strategy and operational plans.
Direct and align the regional property management function to ensure company standards are met in the areas of financial performance, marketing, maintenance, compliance, and employee, customer, and tenant satisfaction.
Responsible for understanding local market conditions (competition, supply pipeline, demand drivers, major tenants, market absorption) for the intermountain region.
Build on the success of CenterCal’s current operations to grow a best-in-class operations team that effectively communicates and collaborates to resolve issues and challenges and works together in the best interest of the Company.
Provide leadership to the intermountain operations team to establish and communicate best standards for operational, financial, and service excellence and create programs and strategies that facilitate consistent, high-level performance and tenant and customer satisfaction.
Review and analyze monthly, quarterly and annual financial reports, operating statements and variances; identify and investigate potential problems, and work with corporate and regional employees to appropriately intervene to correct and/or enhance the financial performance of the portfolio.
Responsible for the financial analysis, reports and recommendations associated with the leasing and operations of the assigned assets.
Assist leasing and management teams with merchandising plans for the properties.
Where appropriate, assist in managing national retailer relationships and deal making, with a particular focus on renewals.
Prepare an annual Asset Management Plan for the individual assets. Update and track results of the plan on a monthly basis.
Track key leasing milestones, leasing velocity, timing of leasing from deal approval to tenant opening, co-tenancy clauses, expirations, tenant and landlord termination options, and property sales performance. Effectively communicate each metric to management, leasing and property management.
In conjunction with a financial analyst, prepare and evaluate quarterly valuations. Ensure market leasing assumptions and other key assumptions are up to date.
Perform redevelopment analysis on assets within in the portfolio and actively participate in authoring the redevelopment strategies of same.
Maintain overall responsibility for property level budgeting, tracking of financial performance, and roll-up of regional portfolio budgets. Overall responsibility for preparation of annual business plans for each asset.
Analyze and monitor capital improvement and renovation recommendations where needed to ensure proper property maintenance, competitive positioning or market repositioning developing strategic initiatives as appropriate.
Promote a cost-conscious environment focused on expense controls and budgetary accountability, leveraging regional and national economies of scale to obtain the best possible pricing while maintaining excellence in both product and service.
Optimize the processes for hiring, training, mentoring, selection, development, motivation, and supervision of a strong team and ensure it reflects the principles and standards of a CenterCal Lead a team that embraces a culture of continuous improvement, operational excellence, accountability, and ownership while reflecting the Company’s values.
Identify and implement opportunities in the intermountain portfolio to maximize value and enhance the performance by:
o Creating operating efficiencies via standardization and effective utilization of resources
o Innovation and adoption of best practices, including alternative revenue streams
Optimize the value of each property within the portfolio consistent with their specific investment strategy.
Conduct periodic property and portfolio level occupancy and NOI re-forecasts. Assist with property and portfolio valuations and return analyses.
Identify process improvements designed to increase efficiency and expand capacity
Participate in the due diligence process as required; assist in preparing first-year pro-forma budgets for newly acquired projects; and assist in creating strategies and plans for effective takeover of operations at closing.
Develop and mentor direct reports and key staff to achieve full potential and prepare for positions of greater responsibility.
Successfully embrace and champion the organizational culture and people while trailblazing the needs of the future within the region.
Relationships with People: Ability to influence, persuasive, tenacious, socially confident, engaging
A developer’s success can reach beyond the financial returns of the projects they build. At CenterCal Properties, we are focused on creating thoughtful projects that will endure as a lasting benefit to the communities we serve. Our primary goal is to design gathering places that will strengthen the social fabric of our neighborhoods, ultimately creating prosperity, happiness and a stronger sense of community.
CenterCal honors the customer by providing the best experience possible, through design, fine restaurants and retailers and amenities that enhance the surrounding neighborhoods. Since we believe strongly in partnering with the community for many years to come, we offer many reasons to visit our projects more often with activities, entertainment and community events that provide a social atmosphere that is inviting and fun.
Each project is genuinely a team effort and we employ a carefully curated mix of imaginative, talented and passionate individuals. Our role is to fiercely protect the CenterCal brand and purpose, as every team member holds each project close to their hearts. For many of our employees, these developments are within their own backyards; therefore we all have a vested interest in doing it right.