Portfolio Manager - Commercial Real Estate - Broadstone Real Estate LLC

November 07, 2017
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Broadstone Real Estate LLC

Rochester, New York 14604
http://www.broadstone.com

Broadstone Real Estate, LLC, a full-service real estate company that that serves as the sponsor of two Real Estate Investment Trusts (REITs), is seeking a seeking a Real Estate Portfolio Manager for its commercial portfolio of single tenant triple net leased properties. The current portfolio consists of over 475 properties in 37 states with a net asset value exceeding $2.3B and is positioned for substantial growth. The portfolio is comprised of approximately 1/3 Industrial, 1/3 Medical and Office, and 1/3 Casual Dining/Fast Food tenants. The successful candidate will oversee a portion of the portfolio.  The ideal candidate will have extensive commercial property asset management, acquisition, disposition, lease negotiation, financial analysis, and building management experience. This position reports to SVP Portfolio Management.

Essential Job Duties and Responsibilities:

  • Maintain tenant relationships, reply to tenant requests for capital improvement approvals, monitor major renovation and expansion construction and lien waiver documentation as required in the lease
  • Assist in the evaluation of tenant requests for Broadstone funding for additional properties, expansions, or other capital investments
  • Monitor lease infractions and manage lease renewals, negotiations, tenant defaults, evictions and re-tenanting of properties
  • Oversee third party or provide direct property management services including rent collection, management of operating expense, insurance and real estate tax escrow balances with annual reconciliations
  • Manage and coordinate capital repairs/replacements and other responsibilities that may be required of Broadstone as landlord pursuant to non- triple net leases
  • Monitor tenant financial reporting and tenant modifications such as changes of control to ensure proper tenant credit is maintained on behalf of our investors
  • Support the Acquisition Department’s due diligence efforts by reviewing leases, evaluating building and property conditions and evaluating future property management/ownership liability
  • Conduct site-level property inspections and reporting as required by company policy
  • Assist in obtaining and reviewing third party appraisals as required by company policy
  • Assist the Dispositions Department by providing tenant contact or property information necessary for such dispositions as requested by Brokers or team members
  • Provide any support needed for quarterly portfolio valuations
  • Utilize tenant relationships to develop further opportunities for Broadstone property investment by seeking additional tenant-owned or tenant-referred properties
  • Additional duties as required

 

Skills/Qualifications:

  • Strong analytical abilities including lease negotiation, property management, financial, tenant relationship, and analyzing problems, identifying multiple resolution scenarios and presentation of recommendations
  • Excellent communication skills, strong verbal and written communication skills, good decision-making skills and an ability to perform under deadline pressure
  • Must have sound understanding of legal contracts, lease provisions and construction agreements   
  • Solid work ethic. Self-motivated, positive, confident and committed professional
  • Strong organizational skills
  • Strong attention to detail
  • Passionate about quality and accuracy
  • Servant leader that will lead by example; be willing to do what it takes; and be supportive of others
  • Must live in or be willing to relocate to Rochester, NY area

 

Education/Experience:

  • Bachelor’s degree from a four-year accredited college or university required
  • Minimum 5-8 years’ experience in real estate management, acquisition, disposition, leasing and analysis of commercial real estate
  • High level proficiency Microsoft Office, including Word, Excel, PowerPoint and Outlook

 

Environment and Physical Demands:

  • Professional office environment with routine use of standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machine; noise level typical of a standard office environment
  • Prolonged sitting, computer and telephone use, as well as standing, filing, stooping, bending, reaching and lifting and carrying up to 15 pounds

 

The above description is not intended to define, in detail, the multitude of tasks that may be assigned, but rather to provide a general sense of the responsibilities and expectations of the position. As the nature of business demands change, so too may the functions of this position.