Associate, Asset Management
Boston, MA; Dallas, TX; or Chicago, IL
The Asset Management Associate will work with the Asset Management department in managing all aspects of a property portfolio. The position reports directly to the Vice President of Asset Management and will work to help maximize the value of each asset in the portfolio. Responsibilities include the oversight of property operations, interfacing with tenants, and managing local brokers and property managers. The Asset Management Associate will help to develop operating strategies, coordinate marketing, execute property management/leasing agreements, and negotiate leases.
- Manage local brokerage teams and assist with negotiating lease transactions within the portfolio.
- Maintain in-depth knowledge of local real estate markets, including market statistics and trends, tenant base, and competitive inventory.
- Interface with tenants and/or third-party managers to ensure all landlord duties are satisfied and performed in a professional manner.
- Travel to all markets and buildings in portfolio; observe level of use and occupancy by tenants and note any capital needs.
- Report to senior management on property level performance with comparative analyses to budget, underwriting and same-store metrics.
- Prepare summary of new and renewal lease terms that will be presented to senior management for approval.
- Work with the Accounting Department and the Financial Managers in the annual preparation of the property operating budgets with quarterly reforecasts.
- Coordinate and track capital improvement projects within the portfolio with in-house Capital Group.
- Participate in the preparation and execution of potential dispositions in the portfolio.
- Develop and maintain strong relationships with existing tenants, managers, and local brokers.
- Work with in-house and outside legal counsel to produce lease documents.
- Bachelor’s Degree with three to five years’ experience working in commercial real estate
- Excellent written and verbal communications skills
- Self-directed, with a high level of motivation and enthusiasm
- Detail oriented with the ability to multi-task
- Ability to travel up to 50%
- Team player who possesses strong analytical and problem-solving abilities
- Experience with financial analysis of real estate transactions, including calculations involving net present value, net effective lease rates, and amortization of lease costs and capital
- Experience with MS Office applications, including a high level of ability with Excel. Exposure to Argus a plus