ABsolute Property Sourcing is looking to staff an Asset Manager for one of our prestigous clients. The Asset Manager will be responsible for managing the operations of a portion of the company’s commercial real estate portfolio (primarily retail). They will work closely with the Portfolio Management division to establish strategic asset business plans that target the optimization of portfolio investment objectives. In addition, they will oversee execution of business plans with Real Estate Services group (property management, leasing, construction management, etc.). The Asset Manager reports directly to the VP of Asset Management, and will work closely with an assigned Portfolio Manager.
Oversee creation and implementation of property level budgets, with the primary responsibility for ensuring financial objectives are obtained through deliberate leasing, capital and marketing plans.
Work directly with assigned portfolio manager on implementation of the business strategy for assigned assets, approvals for significant leasing or capital projects, un-budgeted or extraordinary events, and other strategic initiatives.
Support Acquisitions and Portfolio Management with the due diligence process on potential acquisitions within assigned territory and asset classes.
Review monthly, quarterly, and annual financial statements and comparisons to budget, which includes review of leasing targets, occupancy, revenues, expenses, capital expenditures, and property cash flow.
Prepare asset updates to be used in conjunction with quarterly financial package.
Lead the portfolio leasing process by:
Quarterbacking leasing brokers to prepare a strategic and tactical marketing plan for each asset
Oversee Property Management on tenant renewals and tenant retention policies
Lead lease negotiations and ensure proper levels of review and approval are obtained
Coordinate and review lease drafting with Legal
Conduct lease feasibility analysis (financial, market, tenant credit, etc.)
Manage broker relations and renegotiate broker contracts as needed
Lead and oversee capital expenditure plans and approvals (strategy, timing, cash mgmt., project mgmt.)
Oversee and ensure adherence to budgets for renovation and construction projects
Work with in-house construction team to interview and evaluate construction contractors
Work closely with and motivate property managers for excellence in property operations
Interview and evaluate vendors for various property level services and projects in coordination with property managers.
Identify additional opportunities for improved property performance and operational efficiencies.
Travel regularly to properties in the portfolio for site visits
6+ years of experience in commercial real estate asset management or property management
5+ years in a role with significant oversight for a portfolio of assets
5+ years of experience in lease negotiations, financial management and reporting
Strong, clear and concise verbal and written skills a must
Ability to multi-task and work in a vibrant, entrepreneurial environment
Expert knowledge and skills in MS Excel, Yardi (or other property accounting applications), budgeting software, and/or other relevant real estate applications. Strong technical grasp a must.
Bachelor's degree required. Real estate certifications a plus.
Comfortable with travel 25-50%
Job Type: Full Time / Contract
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