Listing Details


 

 Qualified candidates submit resume to: Sara Marsh (smarsh@kelleraugusta.com ) / 617.804.0463

Asset Manager

Newton, MA

JOB DESCRIPTION

Company Overview
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.

Position Overview
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. 

Primary Responsibilities

·         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.

Operations

·         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.

Commercial Leasing:

·         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.

Acquisitions/Dispositions/Financing

·         Handle due diligence associated with acquisitions, dispositions and refinancing

·         Track asset disposition and re-financing opportunities.

·         Prepare annual Hold/Sell Analysis.

Reporting

·         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.


Qualifications

·         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.