VP, Debt Portfolio Management

Company Overview

Berkshire Residential Investments is a people-first real estate investment company who values not only the impact we make as a company, but the time we spend together in our high-performing teams. We value individual skills and perspectives to allow us to best serve our employees, investors, residents, and other stakeholders.

If you’re interested in a workplace where everyone feels empowered to bring their full, authentic selves to work each day, come join our talented and growing team at Berkshire Residential Investments. Our environment of entrepreneurial spirit, culture of expertise and our people-first approach will allow you to thrive while continuing to grow in your career.

Position Summary 

The VP, Debt Portfolio Manager will be responsible for the oversight and performance of a portfolio of value-add multifamily Real Estate assets located in multiple markets across the United States. The position will be accountable for providing input into the development and oversight of property level business plans. This will include budget reviews and approvals, business plan status reviews, recommendations of major capital renovations, leasing and disposition strategies, and property level financings. This position will work collaboratively with all facets of the Company including members of Portfolio Management, Accounting, Property Management, Investments, Capital Markets, Valuation, Research, and Legal teams.

Responsibilities include, but are not limited to:

• Review property level business plans for the existing portfolio, providing input on the strategy and overseeing the execution of the plans to optimize investment performance.
• Assist in developing business plans for new assets to the portfolio.
• Participate in discussions with the Asset Managers responsible for each property to ensure execution of the business plan.  Ensure the asset level decisions (rent pricing, property budgets, renovation scope, capital expenditures, etc.) are in line with the expectations of the Fund’s goals.  Provide direction to pivot as necessary.
• Perform portfolio-level reviews, ensuring:
  • Comprehensive detail on the status of each asset in the portfolio.
  • Tracking ROI real-time on capital expenditures and adjusting as necessary to achieve the Funds’ goals.
  • Quarterly sell/hold analysis on the portfolio based on current valuation of each property.
  • Execute the appropriate financing strategy for each asset in the portfolio. Utilize Debt Capital Markets where necessary.
• Compare current and trailing performance to prior period reporting and underwriting to analyze negative trends.
• Develop strong working relationships with all team members including JV Partners (asset management and leadership).
• Review and make recommendations on capital expenditure investments, financing, exit strategies, etc.
• Manage the quarterly Portfolio Review with senior leadership, including preparation of materials, current updates for each asset and any changes in strategy.
• Visit markets and properties to validate and finalize business plan assumptions, monitor property operations, and identify opportunities to improve operations.
• Stay informed on market sentiment/drivers and work closely with Berkshire's Research and Equity Investment and Asset Management teams to stay abreast of their viewpoints and recommend a course of action for each market they cover.
• Make recommendations to Portfolio Management for cash management, capital calls, distributions, etc.
• Manage and develop staff, as applicable.
• Consistently demonstrate use of tact and discretion.

Knowledge/Experience:

• At least ten (10) years of experience in portfolio management, acquisitions or asset management, with portfolio manager experience preferred.
• A seasoned real estate professional with comprehensive knowledge of the residential sector.
• Excellent understanding of all aspects of the value creation process which includes financing, rehabilitation, property management, market research, investment analysis and property disposition.
• Superior interpersonal, leadership and management skills.
• Ability to perform, review and direct team in the proper analysis needed, including new analyses.
• A demonstrated ability to identify problems early and to solve them effectively.
• Ability to identify value creation opportunities and the ability to act on them through others.
• Ability to develop and maintain effective internal and external relationships with a range of individuals.
• An ability to set direction with i