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Director, Residential Investment Management

Invesco

Invesco

Newport Beach, CA, USA
Posted on Saturday, June 22, 2024

As one of the world’s leading asset managers, Invesco is dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, we provide a wide range of investment strategies and vehicles to our clients around the world.

If you're looking for challenging work, smart colleagues, and a global employer with a social conscience, come explore your potential at Invesco. Make a difference every day!

Job Description

GENERAL PURPOSE OF POSITION

The Director position is based in Southern California and will be responsible for direct oversight of all aspects of investment management for a broad portfolio of high-quality multifamily assets within the Southern California and Southwest regions. As a member of the residential investment management team, the Director is tasked with driving out performance for their assets under management, identifying and capitalizing on opportunities to create value, and developing and sharing best practices. The role is intended to allow for talented and motivated individuals to work with limited oversight and ultimately serve as the multifamily expert in the region. The Director will leverage existing industry relationships and represent INVESCO Real Estate in the market through interaction with both partners and peers.

PRIMARY DUTIES AND RESPONSIBILITIES

  • Drive investment strategy, value creation and outperformance through direct oversight of property operations, leasing and capital deployment.

  • Measure and monitor asset performance against a variety of benchmarks including client objectives, pro-forma metrics, budget and market comparables.

  • Develop and effectuate annual business plans through actively overseeing property management, leasing, accounting, legal, appraisal, tax, research personnel as well as third-party consultants.

  • Perform regular market visits and property inspections for assigned assets; travel required.

  • Maintain open and effective lines of communication with Portfolio Management regarding management of their investments including the physical, financial, and leasing performance.

  • Work collaboratively with JV partners and service providers while best serving INVESCO’s interests.

  • Actively engage in the appraisal and internal valuation process to ensure accurate results.

  • Perform acquisition due diligence in collaboration with acquisitions, underwriting and engineering.

  • Review and approve the various documents pertaining to operating and marketing the assets, including management agreements, leasing agreements, service contracts, etc.

  • Assess prospective commercial tenants’ businesses and credit worthiness, and execute leases in mixed-use investments.

  • Develop and maintain knowledge regarding capital markets activity in assigned region(s).

  • Review and approve required client reports in final form.

  • Develop and foster productive working relationships with property management companies, brokers and industry peers.

  • Establish credibility both internally and externally as Invesco’s regional multifamily investment management expert.

  • Serve as an active contributing member of the residential team and the broader investment management team, sharing best practices and shaping platform initiatives.

POSITION QUALIFICATIONS

  • Undergraduate degree is required; advanced degree a plus.

  • Minimum of 7 years of hands-on institutional real estate experience preferred in one or more of the following disciplines: Asset Management, Acquisitions, Underwriting, or Property Management.

  • Extensive experience and strong passion for working with institutional quality multifamily investments.

  • Broad understanding of the operational and investment fundamentals of institutional real estate.

  • Excellent verbal, written and interpersonal communication skills.

  • Effective organizational and time management skills.

  • Strong quantitative analysis skills.

  • High proficiency with Excel, Power BI, Word & PowerPoint.

  • Proficient working with Argus Enterprise

OTHER ATTRIBUTES SOUGHT

  • Solutions and results oriented

  • Creative and innovative

  • Intellectually curious

The total compensation offered for this position, which includes salary and incentive pay, will vary based on skills, experience and location. The salary range for this position in California is $195,000 to $215,000 annually.

Full Time / Part Time

Full time

Worker Type

Employee

Job Exempt (Yes / No)

Yes

Workplace Model

At Invesco, our workplace model supports our culture and meets the needs of our clients while providing flexibility our employees value. As a full-time employee, compliance with the workplace policy means working with your direct manager to create a schedule where you will work in your designated office at least three days a week, with two days working outside an Invesco office.

What’s in it for you?

Our people are at the very core of our success. Invesco employees get more out of life through our comprehensive compensation and benefit offerings including:

  • Flexible paid time off

  • Hybrid work schedule

  • 401(K) matching of 100% up to the first 6% with a discretionary supplemental contribution

  • Health & wellbeing benefits

  • Parental Leave benefits

  • Employee stock purchase plan

The above information on this description has been designed to indicate the general nature and level of work performed by employees within this role. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job. The job holder may be required to perform other duties as deemed appropriate by their manager from time to time.

Invesco's culture of inclusivity and its commitment to diversity in the workplace are demonstrated through our people practices. We are proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, creed, color, religion, sex, gender, gender identity, sexual orientation, marital status, national origin, citizenship status, disability, age, or veteran status. Our equal opportunity employment efforts comply with all applicable U.S. state and federal laws governing non-discrimination in employment.