Senior Vice President-Asset Management

AEI’s Senior Vice President of Asset Management leads the Asset Management team to ensure AEI’s long-term interests are met by focusing on the physical, financial and operating success of the real estate assets owned or controlled by AEI.  The Senior Vice President is also a member of AEI’s leadership management team responsible for overall organizational success.

Team Leadership

Hire, train, motivate, empower and inspire internal and external team members to drive results and accomplish strategic goals.  Foster a collaborative team environment within Asset Management and across other departments throughout the organization. Ensure systems support the work of the team.

Acquisition Support and Business Planning

Assist the acquisition team in the evaluation of prospective real estate purchases.  Vet the underwriting assumptions used by the acquisition team for the real estate purchase pricing, balance fund and DST placement and assist with individual asset business planning.  Review due diligence materials and raise issues for discussion, presenting possible solutions.  Review and understand the business plan or investment strategy for the asset ensuring assumptions are sound, achievable and deliver the desired outcomes for investors and AEI.

Financial Analysis and Planning

Understand real estate valuation fundamentals (direct capitalization and discounted cash flow) and assess the impact of operational decisions on investment returns.  Use time-value-of-money principles to analyze alternative lease structures and proposed capital improvements in order to calculate effective rental rates in the presence of concessions and anticipated payback periods on capital outlays. A basic understanding of debt financing and the impact of leverage on property-level cash flow as well 

as familiarity with complex debt and equity structures is a plus.  Oversee financial modeling to evaluate opportunities for asset repositioning, complete periodic portfolio valuations and forecast investor returns.  Explain the results of financial models to senior executives through the use of common financial metrics and ratios.

Portfolio Management

Execute strategies at the property level for the lifecycle of each asset.  Maximize value of each asset by making decisions that account for property characteristics and market conditions in the following areas:

• Budget review and approval including initial underwriting, periodic budgeting, CAM recs and the like.
• Approve leases and capital expenditures.
• Generate operational efficiencies and manage risk.
• Oversee real estate tax and insurance strategies – compliance, appeals, policy renewals, claims management.
• Facilities – Oversee a program of semi-annual roof inspections, tri-annual full property inspections, compliance with project capital assessments, enforcement of warranties.
• Maintain strong relationships with tenants in support of investor and AEI’s goals.
• Ensure compliance with legal documents governing each property such as REAs, declarations, deed restrictions and easements.  Negotiate amendments or revisions as needed.  Lead negotiations and approve new agreements that may arise during a property’s life cycle (e.g. condemnations).

Market Research

Oversee the collection and analysis of data to support a strong understanding of the markets where AEI owns or controls properties including supply and demand fundamentals at the local level obtained through primary and secondary data, tenant credit and performance tracking, cap rate volatility, rental rates and location viability.

Dispositions

Analyze and understand the impact that sales proceeds have on property and fund/DST level returns.  Use information from market research and financial analysis to make sell/hold recommendations to senior management by understanding property and market dynamics such as when the competitive position of a property is in decline or large capital outlays are expected in the future.  Implement sell decisions by vetting and engaging brokers, overseeing the preparation of marketing materials, reviewing and negotiating letters of intent and purchase agreements.  Engage internal and external team members to complete the transaction from due diligence through closing.

Solve Problems

Work with internal staff and engage outside professionals as needed to effectively address and solve any problems that threaten the potential of any of AEI’s real estate assets to consistently meet financial, physical and operating expectations.