Asset Manager (Distressed)

Job Description

Our Asset Manager will be responsible for managing a portfolio of distressed assets in receivership, working with internal and external teams to meet the objectives of each asset, maximize property performance, and stabilize assets for their next phase.

Desired Competency, Experience and Skills:

3+ years of experience with a focus on asset management activities, including leasing, financing, managing tenant improvements, capital investments, and dispositions

Experience with distressed assets- often class C and B

Ability to be self -sufficient to work outside the box to figure out challenges

Exposure to legal aspect of commercial assets in receivership

Comfortable navigating quickly changing portfolios and maintaining discretion when interfacing with building tenants

Bachelor's Degree in Real Estate, Finance, Accounting; MBA a plus

In-depth knowledge of real estate finance including commercial lease terms and debt and equity structures

Able to successfully work in a team-oriented environment and partner with internal colleagues, external suppliers, and cross-functional groups

Strong analytical, accounting and critical thinking skills

High comfort level with the technology used to aid in collaboration, communication, and documentation

Excellent written and oral communication skills

Advanced knowledge of Excel including building templates for other users.

Responsibilities:

Develop and implement strategic business plans for each asset that will govern its daily operations, position in the market, and ultimate disposition

Assure financial performance, timely reporting, proactive and high-quality repairs and maintenance, and positive tenant relations

The candidate should enjoy everchanging work assignments as the portfolio could frequently change

Assist with conducting transaction analysis and support due diligence for new acquisitions

Assist with due diligence and follow-up on property transactions

Review monthly property management reports for variance against budget and strategy

Prepare monthly, quarterly, and annual reporting for investor clients and senior leadership

Create cash flow projections, analyze and recommend investor capital calls and distributions

Develop analytical tools to allow leadership to better understand the state of the portfolio

Monitor and maintain compliance with all lender requirements

Monitor timely payment of taxes and insurance premiums

Monitor all escrow accounts and operating cash accounts to assure they are properly funded

Collaborate with other departments to improve and document processes and streamline reporting

Oversight of 3rdparty brokerage teams and leasing

Negotiate leases and renewals throughout the portfolioCompany Description

Trigild traces its roots to 1976, when Bill Hoffman founded Trigild as a property management business.

In the 1980’s when the Saving & Loans crisis hit, an attorney asked Hoffman if he could serve as a court-appointed receiver for a defaulted hotel, and a new Trigild business line emerged. Over the next five years, Trigild was named receiver and management company for nearly 200 assets, including over 100 hotels, 50 multifamily projects, 15 commercial properties, and even a barge terminal.

After the S&L crisis was resolved, Trigild continued managing projects, and while it was assumed that the receivership boom would subside, in 2004 fast food restaurants and gas and convenience stores hit a rough patch. In a five-year period, Trigild operated and was frequently receiver for over 700 of these assets.

Since the 2008 Global Financial crisis, Trigild has operated over 15 million square feet of commercial space, over 40,000 hotel and multifamily units, and served as fiduciary receiver and bankruptcy trustee for assets ranging from hotels, apartment complexes, and retail centers to unique businesses, such as a $1.6 billion TIC syndicator and a large food processing plant.

We attract the best and the brightest in the industry, allowing us to provide the highest quality services to our clients. Our talent is trusted, experienced, innovative, dedicated, and dynamic. Join the Trigild legacy.

Full-time