What are the responsibilities and job description for the Vice President Asset Management position at Riverside Investment & Development Company?
Primary Report: Executive Vice President
Job Summary
Riverside Investment & Development is seeking a full-time Vice President–level Asset Manager based in Chicago. This role will primarily focus on office buildings, with potential exposure to multifamily and mixed-use properties.
Key Responsibilities
The Asset Manager will support the Executive Vice President and select capital partners in all aspects of asset management, acquisitions, dispositions, financial decision-making, cash flow modeling, leasing strategy, investment analysis, negotiations, and legal documentation.
Responsibilities
- Develop and implement asset-level strategic plans
- Establish leasing objectives and guidelines; provide oversight of revenue management systems and strategies; manage the leasing process as needed for mixed-use assets and prepare recommendations for ownership
- Oversee property-level operating activities, including supervision of leasing agents and third-party property managers
- Direct the preparation of monthly reporting, quarterly valuations, and cash flow forecasts
- Review and evaluate prospective lease proposals
- Collaborate with and guide property managers in developing operating budgets, including capital and leasing plans
- Manage the internal process for obtaining Investment Committee approval for key decisions
- Participate in broader management team strategic initiatives at each property
- Manage recapitalization efforts and/or oversee the disposition process when assets are prepared for sale
- Oversee property-level financings and reporting with joint venture partners and lenders
- Lead weekly and monthly asset management meetings
- Monitor market trends and data, including investment sales, lease comparables, and occupancy levels
- Lead the preparation of quarterly asset management reports for ownership at the property level
- Review financial reports to monitor performance and ensure investment objectives are achieved
- Lead ownership and client presentations
- Manage loan requirements and covenants, including leasing conditions, future funding obligations, escrow reimbursements, and other lender requirements
- Review existing leases to analyze and determine renewal strategies or potential modifications
- Monitor, manage, and coordinate RIDC internal teams (construction management, leasing, and financial analysis)
- Perform special projects and additional responsibilities as assigned
Qualifications
- 8–12 years of commercial or investment real estate experience with asset management
- Strong office market experience required, with multifamily or retail knowledge considered a plus
- Excellent written and verbal communication skills
- Self-starter with strong analytical, quantitative, and problem-solving abilities
- Strong interpersonal skills with the ability to interact effectively with both internal and external stakeholders
- Demonstrated ability to lead, manage, and motivate junior staff, leasing teams, and analysts
- Ability to work effectively under pressure while managing multiple competing deadlines
- Experience with asset repositioning strategies
Skills
- Advanced proficiency in reviewing and analyzing financial models in Excel and Argus
- Strong organizational skills and attention to detail, with the ability to manage multiple projects simultaneously
- Experience negotiating leases and real estate legal documentation
- Strong sense of initiative, accountability, and entrepreneurial mindset
- Ability to work independently and collaboratively in a fast-paced environment
- In-depth knowledge of the Downtown Chicago office market; experience in other markets is a plus