VP of Portfolio Management

Capstone Advisors is seeking a dynamic real estate professional eager to grow and make an impact in a fast-paced, entrepreneurial environment. Our diverse, multi-state portfolio spans retail, industrial, office, and residential and commercial development. As an innovative company since our inception, we offer the chance to engage with a broad range of exciting and high-profile projects. The position is in the office at least four days per week with the option to work one day remotely and is based in the Company’s beautiful Carlsbad, CA headquarters.

The Vice President of Portfolio Management will lead the overall financial and operational management of Capstone’s portfolio of commercial real estate assets. The primary focus is to maximize investment performance of each asset by establishing and executing actionable plans for leasing, property management, development, and marketing that maximize asset value and improve efficiencies. The position also has a key role in evaluating and assisting in the acquisition and disposition of assets.

Portfolio/Asset Management Responsibilities

• Oversee the strategic planning for the commercial assets and development portfolio through preparation, and execution of property business plans.
• Evaluate, gain approval, and execute redevelopment and/or capital improvement initiatives through (i) analysis of property characteristics to determine feasibility, advisability and financial implications, (ii) selection and coordination of architects, contractors, consultants, et. al. to implement improvement plans, (iii) creation and approval of budgets and proformas, (iv) working in conjunction with senior management, interface with governmental officials concerning property, zoning and development issues.
• Build strong broker relationships to maintain a broad range of knowledge concerning geographic markets containing the Company's assets under management, including analysis of (i) data concerning competition, (ii) rental and NNN rates, (iii) occupancy and absorption rates, (iv) current and proposed real estate development and (v) significant events.
• Oversee the preparation of quarterly asset management reports to Senior Management and joint venture partners.
• Oversee forecasting of cash flows and cash positions for each property to ensure sufficient capital is available. Advise VP of Accounting and Finance and Senior Management of cash positions and future needs for capital calls.
• Maintain ongoing industry networking, developing and maintaining contacts in the brokerage communities.
• Participate in industry events to maintain and expand the Company’s presence in the markets Capstone owns assets.

Leasing Responsibilities

Work with the VP of Leasing to establish and manage the leasing plan of each property in the portfolio and evaluate economics of prospective leases to ensure financial goals for new and renewal leases are met or exceeded and lease documentation is appropriate.

Financing Responsibilities

Assist VP of Accounting and Finance to solicit and evaluate proposals to obtain debt and equity capital for existing assets and prospective acquisitions.

• Oversee the preparation and submittal of due diligence materials to lenders and equity capital partners.
• Review closing prorations and closing statements.

Acquisitions/Dispositions Responsibilities

As part of the annual business plan process, evaluate assets for Hold/Sell recommendations through review of key factors like asset condition, capital needs, leasing forecasts, market conditions, financial return projections, etc.

• Assist in the due diligence process of property acquisitions by participating in the gathering and evaluation of key reports and underwriting.
• For assets that have been identified for disposition, lead the process of solicitation and evaluation of investment sales brokers and make recommendations to Senior Management for approval.
• Oversee the preparation and approval of marketing and due diligence materials.
• Evaluate and make recommendations on selection of buyer.
• Monitor and coordinate the provision of materials to support buyer’s due diligence.

Development Responsibilities

Work with the Development and Acquisition and Finance teams to identify and underwrite potential development and projects for land and redevelopment of commercial assets.

• Prepare feasibility evaluations including development budgets, financial models, market analysis and zoning information to arrive at recommendation to Senior Management.  
• Create strategy and schedules for approved projects.
• Solicit proposals, evaluate and retain necessary technical, financial and operational consultants to support project execution.
• Maintain and refine project financial model, including development budgets, operational costs, leasing assumptions, and revenue projections.
• Participate in the preparation and submittal of materials for government entitlements.
• Review and comment on design and construction plans.
• Work with VP of Accounting and Finance to evaluate project financing options and participate in solicitation and negotiation of documents and closing of debt and equity agreements.
• Solicit, evaluate and select construction contractors and project managers.
• Review construction reports and participate in project meetings.
• Oversee project turnover and construction closeout.

Qualifications & Experience:

• Bachelor’s degree in business, finance, economics, accounting, or real estate.
• MBA or a master’s in real estate is a plus.
• 7+ years of proven success in asset/property management, leasing, and construction in the retail industry.
• CPM, RPA, LEED AP, or equivalent real estate industry designation(s) preferred.
• Strong communication and negotiation skills.
• Excellent analytical and problem-solving skills with a strategic mindset.
• Proven leadership skills.
• Proficiency and recent working experience with Argus (required) and Yardi (preferred).
• Working knowledge of basic discounted cash flow valuation (NOI, NPV, IRR).
• Understanding of debt related ratios (DSCR, LTV).
• Proficient in Microsoft Office products, including Excel, Word, Outlook, and PowerPoint.

Our Culture and Core Values:

Our culture is especially important to us, and its foundation is our Core Values. We spend considerable time and effort to ensure these values are at the forefront of how we operate. Our Core Values include:

• We strive for successful outcomes through detailed planning and thoughtful execution. We analyze and learn from prior efforts.
• We are open-minded to change and strive for constant improvement.
• We value meaningful work, we recognize contributions, embrace growth and value balance.
• We empower team members and seek feedback. We value open communication and clear goal setting.
• We work as a team knowing that collaboration leads to better decision making.
• We are fair, honest, and accountable. Always.

If this role at Capstone is of interest to you, please send a cover letter and resume to Tambra Wayne at wayne@capstoneadvisors.com. We look forward to hearing from you.

For more information about Capstone Advisors, visit

Job Type: Full Time hybrid position working at least 4 days in the office, one day remotely

Industry: Real Estate

Reports to: COO

Salary Range: $175,000 to $200,000, with a negotiable discretionary bonus