The Assistant Asset Manager will be responsible for working with the Senior Asset Manager in overseeing a subset of the Asset Manager’s Territory consisting of a portfolio of commercial real estate to maximize the performance and value of the portfolio of assets. The Assistant Asset Manager is responsible for implementing a long-range asset management strategy for all properties within the Territory, developed with the Senior Asset Manager. The Assistant Asset Manager will work closely with the Senior Asset Manager and the Property Management team to ensure the Territory’s strategic plan is implemented and the performance is on target.
- Work with the Senior Asset Manager to establish long range and short term Strategic Plan, and implement the plans for select properties within the Territory.
- Track properties’ occupancy, expenses, cash flow, and capital to understand how they are performing against budget and plan.
- Perform periodic property site inspections to ensure property performance against plan.
- Implement marketing plans and continuously monitor/adjust. Conduct periodic reviews of marketing materials, CoStar, etc.
- Work with the Real Estate Services team to hire brokers and take responsibility for new and renewal leasing. This includes participation in the lease proposal negotiation, approval of deal terms and management of the lease document negotiation.
- Manage brokerage contracts (Landlord and Tenant Representative).
- Manage requests for assignments, subleases and similar tenant requests.
- Consult with Real Estate Services to:
- Plan/attend broker open houses
- Attend Market events (broker overviews, market recaps, industry events)
- Quarterly building/market tours
- Tenant issue resolution
- Look to Senior Asset Manager/SVP for guidance on complex transactions.
- Review tenant prospect financial statements – make security deposit recommendations to Senior Asset Manager.
- Review existing tenant’s financial statements, as allowed under lease terms, to understand strength of existing tenants.
- Work closely with Senior Asset Manager and Real Estate Services on Annual Budget/Reforecasts– make revenue assumptions, work together to develop Capital/One Time Expense Plan, review expense assumptions.
- Develop MLAs to be used in valuations, budgets, and impairment analysis. Have a solid understanding of markets and market trends.
- Monitor capital improvements.
- Develop/update valuations on each building in the Territory as part of the preparation of annual business plans.
- Work with accounting on impairment analysis and real estate tax appeals.
- Bachelor’s degree; preferred in Accounting, Finance or Business Management; advanced degree a plus.
- 5-10 years’ experience within commercial real estate.
- Prior experience as an Asset Manager, Sr. Property Manager or Leasing Manager.
- Solid exposure to commercial office, industrial and MOB leases.
- Strong analytical skills and experience in financial analysis.
- Exceptional organizational and follow-up skills required along with the ability to multi-task and bring individual issues to timely closure.
- Excellent written and oral communication skills.
- Ability to work in a fast-paced, team centered, results-driven environment.
- Proficiency with Microsoft Office products, ARGUS Enterprise or DCF, accounting software, database management & reporting.
The RMR Group Inc. is a holding company and substantially all of its business is conducted by its majority-owned subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate related operating companies. As of June 30, 2017, The RMR Group LLC had approximately $27.9 billion of total assets under management, including more than 1,400 properties, and employed over 475 real estate professionals in more than 30 offices throughout the United States; the companies managed by The RMR Group LLC collectively had approximately 53,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.
We are an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected veteran status or any other characteristics required by law.