Senior Asset Manager

November 03, 2017

Confidential

Washington DC, District of Columbia


A Real Estate Investment firm with a portfolio of approximately $1 billion of net leased industrial, commercial, medical office, and other types of real estate properties is recruiting a Senior Asset Manager.  Assets are located in 24 states and the position is based in the Washington, DC metro area.

 

                                                             POSITION RESPONSIBILITIES

·          Oversee each portfolio investment 

·         Ensure tenants’ full understanding and compliance with all aspects of the lease, 

·         Approve and monitor (and/or execute) preventive maintenance schedules.

·         Supervise third party service providers 

·         Organize building inspections/prepare reports specifying any needed corrective action.

·         Review tenant financial statements periodically to ensure tenant can comply with lease rental payment obligations.  

·         Review monthly, quarterly and annual property operating reports 

·         Lead the preparation of annual property operating and capital budgets 

·         Participate in property valuation analyses in coordination with the investment team

·         Select vendors, negotiate and facilitate approval of awards for contract services and agreements and supervise vendor performance as necessary.

·         Monitor and report on vendor performance 

·         Participate in the expense reconciliation process 

·         Assist throughout the life cycle of the investment to maximize the value of the portfolio.

·         Advise the deal team on any recommended changes to lease provisions regarding property management prior to finalizing investment.

·         Provide Management Team with timely, comprehensive reports.

·         Prepare periodic property condition reports 

·         Develop property budgets and capital plans and monitor performance against  plans.

·         Prepare compliance reports on all key policies and obligations.

·         Create periodic tenant credit/financial condition reports.

·         Generate Asset plans to re-position and re-lease properties.

·         Prepare briefings and recommendations to management on key decisions.

·         Recommend changes that should be made to the real estate.

·         Identify Lease terms that should be re-negotiated.

·         Create investment committee packages that recommend action plans for properties.

·         Ensure enforcement actions in the event of non-compliance.

·         Travel to visit properties as necessary

 

CANDIDATE PROFILE

Required Experience  

·         Minimum 10 years of experience performing property management, leasing and asset management for office and industrial properties across multiple regions (directly or via third party providers)

·         Preparation and execution of annual property operating and CAPEX budgets and monitoring property performance

·         Negotiation and approval of construction contracts and oversight of capital projects

·         Negotiation of third party service provider agreements including property management and leasing agreements, architectural services agreements, construction contracts, legal and accounting support and supervision of their activities

·         Negotiation of lease renewals and new leases personally or through third party service providers

·         Review of tenant financials and credit standing 

·         Preparation and/or approval and oversight of budgets, change orders and pay applications (roof replacements, parking lot paving, etc.) for capital improvement and major repair requirements

·         Resolution of tenant/landlord issues, such as interpreting parts of the lease that call for the tenant to pay certain expenses such as maintenance, repair, insurance, taxes, etc.

·         Negotiation and oversight of construction tenant improvements

·         Selection of professionals to secure zoning changes and tax appeals and to design interior improvements

·         Supervision of property management and/or leasing professionals.

 

Desired Experience

 

·         Participation in trade and professional organizations (i.e., BOMA, NAIOP, IREM, ULI )

·         Direct involvement in commercial construction

·         Preparation of property valuations using discounted cash flow models

 

Required Skills

·         Strong analytical and multi-tasking ability

·         Excellent oral and written communication skills

·         Working knowledge of the appraisal, title, structural, mortgage and insurance industries and the codes, policies and regulations governing their operation

·         Working knowledge of standard office and industrial lease provisions

·         Working knowledge of standard third -party service agreements for property management, leasing, and construction services (interior and shell construction) 

·         Proficient with Microsoft product suite

·         Comfortable in a multi-task environment.

 

Personal Attributes

·         Uncompromising personal integrity

·         Independent thinker

·         Flexible; able to adapt to differing situations and changing priorities

·         Confident and decisive

·         Comfortable working without close supervision

·         Able to identify key issues in an environment of numerous competing demands

·         Tenacious in meeting deadlines

·         A high sense of urgency

·         Excellent self-discipline

·         Able to set and stick with priorities

·         Good interpersonal skills; ability to work through conflicts and constructively influence outcomes

·         A confident, team player who seeks and incorporates others’ inputs

·         Willingness to travel

$175,000-$199,999