What are the responsibilities and job description for the Vice President, Real Estate Portfolio Management & Strategy position at Extell Development Company?
About Us
Founded and headed by Gary Barnett, Extell Development Company is a nationally acclaimed real estate developer of residential, office, retail and hospitality properties, operating primarily in Manhattan and other premier cities across the nation. Experiencing outstanding growth since its founding in 1989, the company’s growing portfolio exceeds twenty-five million square feet.
Overview
Extell is seeking a high performing Vice President to support the Co-CEO in performing financial and operating analysis for prospective and existing investments, market research and strategic initiatives. This is a high volume, fast paced, and demanding role appropriate for a self-motivated professional with a strong work ethic, exceptional analytical capabilities, and the ability to perform under tight timelines while managing multiple priorities. The ideal candidate is a highly analytical real estate professional who combines strong technical skills with strategic thinking.
Key Responsibilities
- Oversee the operational and financial performance of a diverse portfolio of real estate assets.
- Develop and implement comprehensive asset management strategies to maximize asset value and drive investment performance.
- Work with senior management to ensure business plans are executed to maximize profitability while minimizing risk through financial modeling and analysis relative to underwriting, budget, and market conditions.
- Assist in developing and monitoring key business performance metrics, including return calculations, operating results, and trends
- Maintaining and applying local market knowledge (i.e., competition, supply pipeline, demand drivers).
- Acquire detailed market knowledge including understanding location, product, supply and demand within each market.
- Support detailed buy/sell/hold analyses for each property.
- Create complex financial analyses in connection with ongoing business planning, potential strategic transactions and capital allocation and financing strategies
- Assist in all aspects of capital raising for projects.
- Track and analyze portfolio performance, activity, and positioning across all assets; source and synthesize data from real estate markets, macroeconomic trends, capital markets and current events.
- Work closely with senior management conducting ongoing, monthly/quarterly property and portfolio level valuation, occupancy, and NOI re-forecasts.
- Provide support in managing portfolio financial models, forecasting equity deployment, investment volume, portfolio and asset-level returns, and portfolio structure.
- Responsible for accuracy and timeliness of reporting on the portfolio; assist in the compilation of internal portfolio reporting.
- Prepare recurring and ad hoc materials, including portfolio exposure and holdings analyses, briefing documents, presentations and reporting packages, that distill portfolio themes, sector trends and market developments
- Interface with asset managers, development managers, accounting, tax and legal teams and lenders.
- Participate in AI integration at the company.
- Bachelor’s degree in Finance, Real Estate, Accounting, Economics, Business Administration, or related field
- 4-8 years of experience in real estate portfolio and/or asset management.
- Development experience preferred but not necessary.
- Understanding of execution of business plans and capital structures
- Advanced proficiency in Excel and financial modeling
- Strong experience with:
- Development and real estate underwriting models
- Portfolio modeling and asset level analysis
- Senior and mezzanine capital structures
- Joint ventures, preferred equity, and complex equity waterfalls
- Market analysis including supply, demand, absorption, and pricing
- Strong written and verbal communication skills; experience interfacing with senior leadership
- Exceptional work ethic, attention to detail, and ability to thrive in a high expectation environment
- Proven ability to handle significant workload and evolving priorities with professionalism and discretion
Compensation & Benefits
Extell Development offers competitive pay and benefits and opportunities for professional growth and advancement to include:
- $300,000 - $400,000 total annual compensation
- Medical, Dental, and Vision Insurance
- Life and AD&D Insurance
- Short- and Long-Term Disability
- 401(k)
- Paid Time Off
- Paid Holidays
- Employee Assistance Program
*Equal Opportunity Employer
Salary : $300,000 - $400,000