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Asset Manager
Position Overview
Reporting to the Director of Asset Management, this individual will be responsible for providing asset management direction, and oversight for a diverse group of assets within the organization’s portfolio.
The real estate portfolio is comprised of 19 buildings, over 2 million square feet with an aggregate annual operating budget in excess of $60 million (plus related capital projects). Additionally, this organization also leases over 2 million square feet of space in 3rd party buildings, owns a hotel/conference center, has several ground leases to 3rd parties, and owns a market-rate residential portfolio of 300+ units across 5 properties.
The Asset Manager directs all 3rd party property & project management firms over daily operations of the assigned portfolio and serves as the institutional representative to the tenants, customers along with all stakeholders located throughout the campuses/sites, including operational, financial, strategic planning, special projects, and logistics/crisis response teams.
The Asset Manager will regularly direct all communication related to reporting and project status/updates with the leasing, accounting/budgeting/planning, and design and construction teams. They will also provide detailed financial analysis related to leasing/strategy, capital decisions, asset/capital improvement budgeting, long-term strategic asset management plans and be the liaison with stakeholder communication.
Key Responsibilities:
1. Drive a best-in-class, collaborative, and goal-oriented asset management approach with a number of stakeholders, internal and external to the enterprise, to achieve optimal, operational, and financial results for the assigned portfolio of properties
2. Help define specific value creation strategies for the assigned portfolio and lead a strategic asset management process centered around achievable, operational/project management goals/objectives, timing, and deliverables as applicable.
3. Collaborate with internal building tenants, stakeholders, third property management firms, and any/all associated teams to prepare and interpret annual operating budgets, financial reporting, capital improvement plans and other major contracts.
4. Establish review processes and analyses to monitor property financial performance, variances against budgets, expense and income drivers and recommend actions accordingly.
5. Oversee the on-site property management teams to explore and implement opportunities to enhance monthly financial reporting processes, discover variance analysis, and ensure timely and effective communication of performance results including meetings with key stakeholders.
6. Complete regular property visits and inspections, assessing and monitoring adequacy of staffing levels for various operating areas, evaluation of project status/completion and implementation of building standards and operations.
7. Ensure industry standard documentation and property information is organized and maintained for each property and asset.
8. Conduct regular documentation audits and report any issues to the Director of Asset Management and Chief Real Estate Officer. Maintain effective communication with building customers and key stakeholders to resolve problems quickly and effectively, communicate work schedules/impact and levels of satisfaction with completed work.
9. Work with the onsite teams as well as third-party leadership personnel to mentor, train, and develop all staff.
10. Offer superior customer service and relationship management by being proactive and responsive to tenants’ needs. Conduct regular meetings with occupants to hear and understand needs and concerns
11. Participate and/or lead special project efforts across the assigned portfolio and participate in applicable enterprise committees representing Real Estate, such as Crisis Management, ADA Compliance, Strategic Planning, Sustainability, and Grounds.
12. Ensure and manage asset risk including insurance coverage and safety compliance.
13. Participate in the local environment and work closely with internal government affairs, as well as the adjacent neighborhoods/communities, to ensure the portfolio is truly considered a community asset.
Key Qualifications:
1. Bachelor’s degree required. Business Administration, Accounting, Finance, Real Estate, or related fields preferred. Master’s degree in real estate and/or applicable graduate degree a plus.
2. Minimum of 4+ years’ of experience within a sophisticated, real estate owner/operator, development and/or investment company.
3. Proven experience overseeing the day-to-day operations of commercial real estate assets. Exposure to a broad base of real estate assets and projects is very important.
4. Strong interpersonal, communication, public relations, and negotiation skills necessary to establish and maintain rapport with a variety of customers, building stakeholders, enterprise leadership, contractors, and community contacts.
5. Strong financial, analytical, and mathematical skills required to analyze budgets, evaluate bids and proposals and oversee/interpret asset proformas.
6. Highly motivated and proficient at managing multiple tasks with effective oral and written communication.
7. Experienced in prioritizing day to day operational issues coupled with a leadership role in departmental initiatives is essential.
8. Technologically proficient with Microsoft office applications and industry/property accounting software, preferably Yardi.
9. Ability to work weekends and evenings, as necessary.