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.
· 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
· 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.
· 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
· 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.
· 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