Overview

AvalonBay Communities (“AvalonBay”) is an equity REIT in the business of developing, redeveloping, acquiring, and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the company’s expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado. As of June 30, 2023, AvalonBay owned or held a direct or indirect ownership interest in 294 apartment communities containing 88,659 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment.

Creating a better way to live is the purpose that binds AvalonBay associates. We take that purpose seriously and expect you will as well. By focusing on collaboration, innovation, and taking ownership of our choices and actions, we act in ways that focus on creating value for their customers, investors, and associates. Positive, professional, and consistent personal interactions make AvalonBay a great place to work.

The Role

The Executive Vice President, Portfolio and Asset Management (“EVP”) will be responsible for driving the current and future direction of AvalonBay’s real estate portfolio. This is a newly defined role that will be instrumental in allowing the company to further establish a best-in-class asset and portfolio management function. Partnering and establishing effective working relationships with the investment, operations, and finance teams will be key for this leader and their team’s success.

The successful candidate will work closely with the executive team, senior leadership, and key stakeholders across the organization, will report directly to the CEO, and be based in Arlington, VA.

Key responsibilities and areas of oversight include;

• Optimizing portfolio performance by leading the company’s portfolio and asset management organization including corporate and regional teams. Determine and gain alignment on key priorities and metrics for driving portfolio performance. Set near and medium-term capital plans across the portfolio, working closely with the capital projects group to achieve objectives and efficiencies. Manage both maintenance capex spend and value-add capital investment opportunities, identifying key trends and drivers of long-term costs of ownership.

• Direct portfolio allocation evaluation and decisions by working closely with the CIO and the Management Investment Committee (MIC), refine the overall framework based on existing portfolio attributes, changing trends and desired portfolio reshaping. Provide input on new investment decisions and strategies to optimize the portfolio across submarket, product and price point.

You Have...

The Executive Vice President, Portfolio and Asset Management (“EVP”) will be a proven and accomplished real estate executive with a track record of leading portfolio and asset management strategies. The successful candidate will be a business leader capable of understanding a complex real estate organization that operates across many locations and jurisdictions. They will have experience interacting with management teams, boards of directors, joint venture partners, and internal and external stakeholders.

Additional qualifications include:

• A minimum of 15-20 years of portfolio management, asset management, or investment experience working within real estate investment management, private equity, REIT or at an owner/operator/developer.

• Strategic mindset combined with a “hands-on” approach to portfolio and asset management. The ability to understand how to analyze risks and opportunities and develop recommendations on the best way to maximize value across multifamily and mixed-use investments.

• A detail-oriented, quantitative approach to the business with excellent financial analysis skills. Understanding of operating results, valuations, investment returns, and acquisitions and development proformas.

• Excellent communication and presentation skills. Ability to build and maintain positive relationships internally as well as with joint venture partners, third-party service providers, and the broader real estate industry.

How AvalonBay Supports You

We know that our teams are the beating heart of our success and we’re committed to showing our appreciation.

We offer:

• Comprehensive benefits — health, dental and vision, 401(k) with company match, paid vacation and holidays, tuition reimbursement, an employee stock purchase plan and more. Click on Benefits for information.
• Growth based on achievement and promotion from within.
• Associate recognition (a company-wide recognition program that celebrates associate efforts and successes in contributing to the overall success of the organization – including destination awards, ‘AvalonBay’s Very Best’ recognition program and others!).
• A 20% discount on our incredible apartment homes.
• A culture built on purpose and our core values - A Commitment to Integrity, A Spirit of Caring, and A Focus on Continuous Improvement.

Additional Info

AvalonBay is proud to be an equal opportunity employer and is committed to an inclusive and diverse work environment free of discrimination and harassment. We believe that in order to achieve our purpose of creating a better way to live, we must recruit, develop and retain associates with a wide range of backgrounds, experiences and perspectives and create an environment that encourages all voices to be heard, understood and appreciated. With this we know we can do great things.

AvalonBay makes employment decisions without regard to a person’s race, ethnicity, color, religion, sex, national origin, sexual orientation, gender identity, pregnancy (including childbirth, lactation or related medical conditions), age, physical or mental disability, genetic information (including characteristics or testing), citizenship status, military or veteran status, or any other status protected by the law.

AvalonBay will consider for employment qualified applicants with criminal histories in a manner consistent with requirements under the law.

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For California residents, if you elect to apply to AvalonBay you accept the AvalonBay California Personnel Privacy Notice