GENERAL DUTIES AND RESPONSIBILITIES
The Vice President of Property Management implements the owner’s strategic plan for each building, including property management, leasing, relationship management, reporting, and ongoing administration of all relevant agreements and legal issues. Includes overseeing third party managers and leasing agents in specific markets.
Implementation of Ownership Strategies
- Develop business plans for individual properties to achieve investor return expectations while complying with company objectives and applicable law.
- Evaluate market conditions for each property and real estate investment climate that will affect business plan strategies. Communicate competitive environment and market expectations to ownership.
- Forecast competitive space availability for each property and develop marketing and pricing recommendations that will maximize the asset value of each property. Forecast absorption of project vacancy.
- Develop short and long-term operational programs that will achieve or surpass cash flow objectives and maximize the asset value of each property.
- Develop strategies to mitigate vacancy risk for individual properties.
- Develop and implement leasing strategies including identifying and contraction with brokerage agencies, or directly marketing as landlord representative.
- Negotiate letters of intent and lease agreements as required.
- Oversight of tenant coordination activities including tenant finish standards, blocking plans, risk management, pricing presentations, invoicing for tenant contributions, punch lists, commissioning meetings, etc.
- Monitor build-out to assure compliance with lease agreements, construction schedules, tenant expectations, lender requirements, and construction guidelines for the project.
- Maintain open, effective communication between tenant, hospital clients, and property management.
- Evaluate on a continuing basis operating costs by monitoring each property’s performance and results against approved budgets, recommending and/or approving necessary adjustments to achieve the scheduled cash flow or asset value objectives.
- Conduct quarterly (or as needed) visits to assigned properties to:
- Ensure all aspects of property management are in full compliance with owner quality standards, policies, and procedures;
- Ensure proper procedures are enforced to manage and monitor operating costs within established budgets
- Negotiate, review, and monitor third party management contracts and performance under those contracts.
- Ensure that emergency plans are in place for all properties.
- Review monthly operating reports for each property including asset summary reports, financial statements, and variable explanations, leasing activity reports, rent roll, accounts receivable, fee schedules, and capital expenditure schedule.
- Oversee completion of periodic owners’ reports.
- Work with Accounting department to manage the accounting and collection process.
- Develop and maintain relationships with major tenants demonstrating the commitment to service.
- Responsible for creating strong internal and external relationships. Managing and enhancing hospital relationships within an assigned portfolio, creating viable long term partnerships.
- Monitor responsiveness to tenant requests for services, general customer service and satisfaction.
- Assist in acquisition process; conduct pre-bid and post-bid due diligence on all assets:
- Property tours
- Coordinate consultants
- Review leases, service contracts, historical operating performance
- Market research (rents, expense reimbursements, leasing commissions and tenant improvement allowances)
- CapEx estimates
- Operating expense estimates; including real estate taxes
- Tenant interviews
- Supervise performance of direct reports providing feedback, evaluation, and recommendations for training and professional development.
- Establish written goals and objectives for direct reports and conducts periodic formal and information performance evaluations.
- Provide evaluation of the Company policies, procedures, systems, and programs to effect continual improvement in relation to asset management functions.
- BA/BS degree in Finance, Real Estate or related field with strong record of academic achievement.
- Minimum of 7 years of commercial property management/leasing/operations experience with an emphasis in healthcare properties and markets.
- Proficiency with Excel, Argus experience desirable.
- Solid analytical and organizational skills and ability to multi-task.
- Highly-developed verbal and written communication skills.
- Ability to work independently and as part of a team.
- Proactive thinking with detail-oriented and creative problem solving approach.
- Strong client and tenant management skills.
- Requires ability to travel to 20-25%.
NexCore Group develops healthcare facilities for physicians, hospitals, and health systems. We solve complex real estate challenges through innovative building solutions and creative financial structures. In a rapidly changing healthcare industry, NexCore has the superior expertise to deliver quality environments and flexible spaces that help grow your business, lower expenses, and mitigate risk. Wherever a new healthcare facility is needed in the U.S., NexCore has the fresh, strategic thinking and comprehensive resources to deliver.
Over the past 25 years, NexCore has developed and acquired a total of 7.1 million square feet of healthcare facilities across the country. We have put our development and planning expertise to work for physician groups and prominent health systems such as Ascension Health, Catholic Health Initiatives, Providence Health & Services, and Trinity Health. In addition, our company has been recognized repeatedly as one of the Top Healthcare Real Estate Developers in the U.S. by Modern Healthcare magazine. NexCore was also recently named Top Developer by the 2016 Revista-HREI Outpatient Development Survey.