What are the responsibilities and job description for the Executive Vice President, Asset Management position at 20/20 Foresight Executive Talent Solutions?
Company
Our client specializes in providing equity financing to owners and developers of affordable
and workforce housing projects across 10 Southern states: Alabama, Arkansas, Florida,
Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, and Texas.
Across its family of funds, the company has committed $200 million to 29 projects,
supporting the development of over 8,000 housing units, with 81% designated as
affordable for families earning less than 80% of the area median income. The company
recently completed its first closing of newest fund (Fund III), securing $60 million in initial
capital commitments toward its $500 million target.
Position
The company is seeking an Executive Vice President, Asset Management to oversee a
portfolio of preferred equity and JV equity investments in over 8,000 units of affordable
and workforce housing projects in emerging neighborhoods throughout the southern
United States (AL, AR, FL, GA, LA, MS, NC, SC, TN and TX).
The EVP will be part of the senior executive team and be responsible for all project and
fund-level asset management activities
Responsibilities
• Own portfolio-wide asset management strategy across all active investments
• Drive achievement of fund-level return targets (IRR, equity multiple, yield metrics)
• Lead quarterly portfolio reviews with senior leadership.
• Identify early warning signals across the portfolio and implement mitigation strategies.
• Oversee all post-close asset management from construction through stabilization and exit.
• Direct strategy for business plan execution
• Approve major business plan deviations.
• Guide sponsors on leasing velocity, pricing strategy, and operating performance.
• Establish institutional-grade construction monitoring framework.
• Oversee: budget adherence, draw approvals, change order governance, contingency
management, Insurance compliance, lien risk mitigation
• Build scalable institutional asset management infrastructure.
• Lead implementation of asset management systems and reporting tools.
• Build, manage, and scale an institutional asset management platform.
• Provide asset management input during underwriting.
• Review and stress-test downside scenarios.
• Lead resolution strategies for underperforming or distressed assets, including restructurings, extensions, cures, and sponsor negotiations to protect ASCP’s capital position.
• Monitor portfolio-wide risk concentrations, refinance exposure, and maturity timelines.
• Develop standardized portfolio dashboards for leadership and LP reporting.
• Evaluate sponsor track records and execution risk.
• Evaluate GMP contracts and change order exposure.
• Participate in LP reporting calls and investor meetings.
• Present portfolio performance to investment committee and advisory board.
• Develop the asset management plan for each investment during the closing process, to be
vetted by the team, and implemented by asset manager post-close.
• Serve as the lead on asset management calls.
• Develop, refine and implement internal policies, procedures and guidelines on development
and acquisition/rehab projects.
• Review and comment on project budgets, construction and architect contracts, project
team qualifications (including architect, general contractor and owner’s representative
licenses, credentials and capacity), and work to identify and mitigate construction-related
risks.
• Collect and analyze all construction-related documentation on active construction projects.
• Oversee construction risk management, including draw governance, contingency control,
lien mitigation, insurance compliance and construction timelines for all projects.
• During construction, monitor insurance coverage, real estate tax payments and absence
of liens to ensure clean title, sufficiency of funds, project completion and issuance of
certificates of completion and occupancy.
• Identify critical risks, deficiencies and project setbacks, and work with senior managers to
communicate with borrowers, project managers, engineers/inspectors, lenders, and other parties to address any concerns and resolve issues.
• Recommend, design and implement workflow, process and system improvements to appropriately monitor and mitigate construction-related risks on individual investments and on a portfolio basis, while increasing the team’s efficiency.
• Communicate with the third-party property managers and perform regular site visits.
• Review of annual operating budgets for the project
Qualifications
• MBA or advanced real estate degree preferred.
• Proven ability to operate in entrepreneurial, growing platforms.
• Demonstrated experience in managing preferred equity or structured equity investments.
• 15 years of experience in real estate asset management, preferably workforce and
affordable multifamily and in private equity space.
• Deep experience in multifamily development, construction oversight, lease-up strategy
• Fluency in preferred equity and JV waterfall structures and understanding of rights, major
decisions, and enforcement triggers.
• Experience with distressed assets and workouts a plus.
• Strong communication and writing abilities.
• Must be a detail-oriented person with outstanding analytical skills.
• Strong computer skills, especially in Excel
• Experience with institutional asset management systems and market data (AppFolio,
Smartsheet, CoStar, Yardi Matrix)
• Extensive travel will be required.