Our client, a regional real estate development, investment, and management company is seeking a highly motivated, strategic, team player to join its growing asset management department currently overseeing +/- 3 million square feet.
The Asset Manager will be responsible for the asset management of a portfolio of properties consisting of retail, office, industrial and mixed-use assets. The Asset Manager will be responsible for strategizing, developing, and executing asset plans to maximize the value of each property within the portfolio.
· Own the creation and implementation of strategic business plans for each assigned property to maximize value.
· Establish one point of contact for asset information, oversight, and decision-making, with the support of the Director of Asset Management and Senior Management.
· Enhance/implement processes for tracking asset performance and provide reporting to the investors on a quarterly and annual basis.
· Analyze and provide recommendations on investment and operational decisions such as lease negotiations, property capitalization strategies, property sales strategies, and capital improvement programs.
· Coordinate, approve, and present annual property budgets and forecasts.
· Monitor overall performance of assigned assets against established goals and approved budgets.
· Oversee the Asset Management Analyst to complete financial analysis of prospective leasing deals, maintain and update annual property Argus files, and coordinate lease administration communication flows on assigned assets.
· Complete annual mark-to-market valuation of the portfolio to determine buy/sell/hold recommendation and forecast investor returns.
· Work with property managers and accounting group on:
o Preparation of annual budgets and business plans for each asset and pool of assets.
o Expense analysis relating to real estate tax appeals, energy conservation, insurance, and CAM costs.
o Establish property capital needs and corresponding costs and evaluate the impact to cash flows/shortfalls.
· Work with accounting team to track funding/completion of capital expenditures and tenant improvement projects.
· Analyze Monthly/Annual Budget vs. Actual individual property and portfolio results:
o Track positive or negative trends and potential issues.
o Continually monitor rollover exposure for effects on value.
· Oversee all leasing matters associated with assigned properties including:
o Sourcing pipeline
o Broker hiring and management
o LOI Review
o Lease Negotiations
· Attend and present at weekly asset management meeting with senior management.
· Establish financial leasing guidelines (term, rate, TIs, LCs) and ensure that prospective lease deals are in-line with projections/underwriting.
· Establish leasing assumptions for annual budgets.
· Review/Analyze lease proposals with Excel or Argus to understand effect on value.
· Maintain general knowledge of local market conditions and competition.
· Handle due diligence associated with acquisitions, dispositions and refinancing
· Track asset disposition and re-financing opportunities.
· Prepare annual Hold/Sell Analysis.
· Work with Accounting to provide a roll-up of monthly financial results for the portfolio.
· Prepare investor reporting and detail performance/trends/highlights.
· Monitor assets with current/potential risk issues.
· Prepare Hold/Sell Analysis – provide guidance for assets on potential dispositions or other significant capital events.
· Prepare Annual Business Plans.
· Maintain portfolio debt schedule and monitor loan expirations to manage upcoming maturities and mitigate financing-related risks.
· Asset Management experience in retail, office, industrial and mixed-use assets
· Excellent financial and analytic skills and demonstrated proficiency with financial modeling.
· Knowledge of real estate valuation principles and techniques, as they relate to acquisition, renovation, disposition, and financing of real estate assets.
· Reasoning Ability: Define problems, collect data, establish facts, and draw valid conclusions.
· Communication Skills: Proven written, verbal, and interpersonal communication skills.
· Proficiency in Microsoft Suite and ARGUS Enterprise.
· Expertise in transaction analysis and transaction negotiation/documentation. Proven effective negotiation skills.
· Motivated, self-starter with proven ability to function in a team environment effectively communicating and sharing information with people in other departments within the company.
· Minimum 5+ years of relevant asset management experience.