Solid reputation, passionate people and endless opportunities. That's Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.
The Sr. Real Estate Asset Manager is responsible for developing, implementing and directing asset management programs to maximize the value or real estate assets owned by Travelers. Within their investment portfolio, the Sr. Real Estate Asset Manager owns and manages the direct real estate investments of Travelers and functions as a commercial property owner, either on its own or in partnership with real estate developers. The incumbent's portfolio would entail approximately 4.5 million square feet and primarily consist of industrial properties, but might also contain office, residential or retail properties. The role combines the following:
Leasing* Reviewing credit of tenants
* Working with outside counsel to manage the legal aspects of contracts
* Factoring environmental risk in to decision making
* Executing leasing agreements up to $10,000,000
Management* Annual budgeting and monthly financial reporting
* Identifying and negotiating appropriate terms on leases based on market and credits
* Collecting rents
* Managing the condition of properties in assigned portfolio
Construction* Acting as a subject-matter expert in an assigned market from a real estate perspective to assist in decisions to acquire new or disposition existing real estate assets
* Perform forecasting and analyze other market trends in assigned markets
The management of large real estate assets requires incumbents to possess a high level of technical competence, financial analysis and industry experience.
* Hires, directs and supervises local property management firms and leasing brokers to ensure that Travelers real estate assets are managed to the highest industry standards, at the most economical operating costs and at the highest rents. Takes corrective actions if/as appropriate.
* Hires and supervises technical consultants and outside contractors.
* Establishes annual budgets for operating expenses and capital improvement programs for all properties in assigned portfolio.
* Monitors the financial and operational performance of each property in assigned portfolio.
* Develops and implements action plans to increase rental revenues and reduce operating expenses and property taxes.
* Designs leasing programs and develops leasing strategy for properties, in consultation with property managers and leasing brokers.
* Analyzes and negotiates leases with total rental obligations by tenant of up to $10,000,000.
* Supervises outside attorneys in the preparation of lease documentation.
* Represents Travelers with brokers and tenants to enhance the profile of a property within its market.
* Develops leads for acquisition within real estate markets where property is owned.
* Analyzes leasing markets and trends in all cities where acquisitions are contemplated or where property is owned which could be sold.
* Performs due diligence on potential acquisitions to ensure that asset management issues are fully identified prior to purchase by Travelers.
* Maintains a complete database on projects competing with currently owned or future real estate acquisitions. This includes lease rates and operating costs within all markets.
10 years of experience in commercial real estate preferred.