Broadstone Real Estate, LLC is a full-service asset manager and real estate investment fund sponsor that currently serves as the sponsor of two real estate investment trusts (REITs), Broadstone Net Lease, Inc. and Broadtree Residential, Inc. Broadstone is currently seeking a Director of Portfolio Management for its commercial portfolio of single tenant triple net leased properties. The current portfolio consists of more than 500 properties in 40 states with a net asset value exceeding $2.82B and is positioned for substantial growth. The portfolio is made up 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 and recommend/implement system architecture to effectively track and monitor key portfolio data and critical dates. The ideal candidate will have experience in database management, commercial property asset management, and financial analysis.
This position reports to SVP Portfolio Management and can be based in Rochester, NY, Dallas TX, or Chicago, IL.
Essential Job Duties and Responsibilities:
Database Systems Management:
- Assist in the transformation of a Microsoft Excel based property database and management system to a more appropriate property database system to effectively track and monitor key portfolio data and critical dates.
- Research, recommend, implement and maintain the database management system.
- Oversee a portion of a growing $2.8B plus industrial, medical, retail and office portfolio.
- 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.
- 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.
- 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
- Excellent modeling skills and demonstrated experience with Microsoft Excel and Argus.
- Strong problem resolution and 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.
- Will consider candidates with similar qualifications currently working in a different field with a high level of interest in real estate related database management systems, construction, design and development.
- 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.
- Bachelor’s degree from a four-year accredited college or university required.
- Experience with asset management and property management software such as Yardi, PropertyWare, LRO, MRI, and CRM.
- Minimum 5-8 years’ experience in real estate management systems and with 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.
- Ability to travel by airplane, train and car with ability to drive a motor vehicle
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.