Vice President - REO

Rialto Capital; Miami (FL); On-site; USD 150,000 - 230,000; Full time

Job summary

A real estate investment firm is seeking an REO Vice President to manage a diverse portfolio of commercial properties. This role involves leading a team to maximize cash flow and returns while navigating market conditions and trends. Applicants should have 8-10 years of real estate management experience, strong leadership skills, and proficiency in Microsoft Excel and Argus software. The position requires out-of-state travel and offers competitive compensation in Miami, Florida.

Qualifications

• 8-10 years of prior Real Estate experience in a management role.
• Strong understanding of various property types.
• Ability to handle legal documents related to real estate.
• Advanced knowledge of Excel & Word; Argus and Val experience preferred.
• Excellent written and verbal communication skills; ability to read and comprehend legal documents.

Responsibilities

• Manage a diverse portfolio of commercial real estate properties.
• Maintain relationships with outside parties to execute asset management objectives.
• Monitor budgets and projected sales for the assigned portfolio.
• Manage day-to-day activities of Asset Managers and Analysts.
• Monitor budgets and projected sales and leasing activity for the portfolio.
• Coordinate between Loan Workout and Real Estate Asset Management; ensure fluid REO timing and credit bid strategy.
• Oversee underwriting assignments and site visits and provide feedback on valuation and market commentary.
• Asset manage the assigned portfolio of properties.

Skills

Real estate asset management

CMBS experience

Leadership skills

Excellent communication skills

Organizational skills

Attention to detail

Education

Bachelor's degree

Master's degree (preferred)

Excellent written and verbal communication

Reading and comprehension of legal documents

Negotiation and analytical skills

Multi-tasking and time management

Tools

Microsoft Excel

Microsoft Word

Argus software

Val software

Job description

Overview

The role of the REO Vice President is to directly manage a large and diverse portfolio of commercial real estate properties and to oversee a team of Asset Managers, Analysts, and support staff to maximize cash flow and returns, minimize costs, and drive corporate objectives. To achieve this, the Vice President will need to have a comprehensive understanding of market conditions and trends across all asset classes, value-add possibilities, property values on an as-is basis and future value given current supply demand dynamics and value-add initiatives, project management and real estate operations. The Vice President reports to a Director of the Real Estate Group and articulates individual asset strategies, discusses market conditions influencing asset performance, reports and discusses potential sales and leases, and reports and evaluates individual team member performance.

Key Responsibilities

• Maintain and develop relationships with outside parties such as attorneys, brokers, consultants, receivers, contractors, and engineers, to leverage their expertise to execute on Rialto’s asset management and disposition objectives.
• Review and provide value add asset management and disposition strategies for the assigned portfolio.
• Fully understand the life cycle of the CMBS process, nuances, and restrictions as they relate to the REMIC and CMBS REO.
• Manage day to day activities of Asset Managers and Analysts.
• Monitor budgets and projected sales and leasing activity for assigned portfolio.
• Conduit between Loan Workout and Real Estate Asset Management; monitor REO pipeline to provide for fluid transition on timing, valuation, due diligence, and credit bid strategy.
• Manage underwriting assignments and site visits and provide feedback on AM’s valuation and market commentary for new underwritings.
• Asset manage assigned portfolio of properties.

Specifications

• Bachelor’s degree required; master’s degree preferred. Real estate, Finance or Related Field is preferred.
• Minimum of 8-10 years prior Real Estate experience in a management role inclusive of underwriting, due diligence, and asset management experience; strong understanding of numerous property types including: office, retail, hospitality, multi-family, industrial, etc.
• CMBS experience is highly preferred.
• Advanced knowledge and application of Microsoft Excel & Word. Argus and/or Val experience strongly preferred.
• Excellent written and verbal communication skills.
• Ability to read and comprehend legal documents including Loan Agreements, Title Reports, Purchase and Sale Agreements and commercial real estate leases.
• Ability to work independently and as part of a team.
• Strong leadership skills.
• Strong organizational and time management skills.
• Ability to multi-task.
• Strong attention to detail, comprehension, negotiation, and analytical skills required.
• Manage multiple projects while meeting tight deadlines and achieving high levels of accuracy.
• Out of state travel will be required.