HELP WANTED: Virtus Real Estate Capital – Senior Asset Manager Self-Storage

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    JOB TITLE: Senior Asset Manager Self-Storage

    JOB TYPE: Full time at a private equity real estate firm

    COMPENSATION: Minimum salary of $70,000/yr based on experience + full benefits and quarterly and annual eligibility for performance based compensation

    COMPANY INFORMATION:

    Virtus Real Estate Capital, based in Austin, Texas, is a mid-market private equity real estate fund manager focused on recession-resilient asset classes.  The firm was founded in 2003 to provide investment opportunities with superior risk-adjusted returns within commercial real estate.  Over the last 10 years, Virtus has capitalized 35 real estate investment programs that have acquired 159 properties with a combined acquisition value of more than $2.3 billion dollars.  Of the 35 real estate programs, 25 have gone full-cycle delivering consistent and outsized returns relative to its investors.  Virtus deploys $400MM to $500MM annually into commercial real estate with a combination of equity from its funds and property debt from third-party lenders.  MINIMUM JOB REQUIREMENTS –  Minimum of 5 – 7 years’ experience in Private Equity Real Estate Asset Management experience or 5 – 7 years’ experience in Self-Storage Operations –          BA or BS in finance or real estate; MBA and/or CCIM a plus –          Strong proficiency with Excel and Word –          Strong analytical skills, detail oriented, and ability to function both independently and as part of a team –          Ability to learn quickly, achieve results, and excel in a fast paced and deadline driven environment –          Excellent written and verbal communication skills –          Highly organized and ability to manage multiple priorities  JOB DESCRIPTION
    1. Work closely with the Director of Asset Management, and third party Sponsors to provide oversight of designated partnership assets and to implement controls as required by partnership and company agreements governing those partnerships.
    1. Evaluate the performance of designated partnership assets, including reviewing and analyzing required monthly / quarterly / annual operating reports from Sponsors and/or third-party property management companies (“PMC”), against budget and pro forma for each asset. Document variances to budget and pro forma and provide quarterly reports to senior management, along with recommended follow up actions with Sponsors or PMC’s, as necessary.
    1. Review proposed budgets provided by Sponsors or PMC’s for designated partnership asset, compare to original acquisitions pro forma, provide summary report to senior management with recommendations for approval or proposed changes to discuss with Sponsor.
    1. Prepare on-going cash flow and forward-looking distribution/contribution analyses for designated partnership assets; provide monthly reports to management including proposed routine (monthly/quarterly) partnership distributions, and coordinate implementation of partnership distributions per designated partnership requirements with the Director of Asset Management, Chief Investment Officer, VRE Fund Controller, and/or 3rd party partnership funds administrator.
    1. Develop and distribute periodic Asset Management reports, as required, to partners, investors and affiliate 3rd parties.
    1. Provide pre-acquisition input and assistance, as may be required in the due diligence process, including review of financial and operating assumptions, financial analysis, and supporting the effort of originating debt financing for proposed partnership assets approved for acquisition.
    1. Assist the Director of Asset Management and Director of Debt Capital in all financing activities for portfolio assets, including initial acquisitions financing (in concert with the Acquisitions Manager) as well as refinancing acquired assets. Regarding the latter, review portfolio assets performance and, in conjunction with the Director of Debt Capital, recommend to senior management opportunities for effectively refinancing portfolio assets in order to maximize return on investment.
    1. Manage coordination of post-acquisition activities and integration of partnership assets into each partnership’s portfolio.
    1. Oversee partnership asset disposition processes as approved by designated partnership and VREC senior management.
    If interested in learning more, please submit resume and cover letter to Tina Domino at tdomino@virtusre.com.]]>

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