Private real estate investment firm headquartered in Rosemont, IL seeks a Senior Asset Manager to join our team in our Rosemont, IL office. This is an exciting opportunity to work in the real estate industry for one of the top 20 global industrial real estate owners: Since 2010 we have acquired over $4 billion in industrial real estate. Our current portfolio spans 30 states and encompasses 45 million square feet with 10 offices nationwide and our organization demonstrates a proven track record as well as an entrepreneurial spirit and vision for the future.
The Senior Asset Manager provides asset management services in support of the management of Brennan Investment Group’s Single Tenant Net Lease platform, comprised of nationally dispersed, single tenant net-leased industrial properties which are generally leased under longer-term, absolute-net leases that require regular servicing and monitoring for compliance. The Sr. Asset Manager will take the lead role on behalf of ownership to ensure that all rents are collected on a timely basis, that all expenses are paid, that tenants maintain the properties in good condition and that tenants otherwise comply with all lease obligations. The Sr. Asset Manager will also take the lead in monitoring the ongoing creditworthiness of tenants, and in generally managing landlord obligations and owner/borrower compliance with applicable lease or loan agreements. This important role has “front line” responsibility for the financial and operational performance of the assigned assets and/or portfolios including leasing (or leasing support); budgeting, forecasting and cash management; partner/lender reporting; financial analysis typical to real estate investment management; operating, leasing and capital decisions; property management (limited landlord obligations); lease administration and tenant communications. Our collective purpose is to ensure investor returns are both stable and maximized.
- Leasing – In consultation with the Senior Vice President of Portfolio Management, the Sr. Asset Manager will take the primary role in maintaining asset occupancy and driving lease renewals through establishing strong tenant relations with a business-friendly, “real estate solutions” type of bias in an effort to encourage new business and early renewals. Tenant clients have a business to run, not real estate, and that is where the BIG STNL Asset Manager steps in to offer solutions that address functional, capital, or otherwise help improve the operational efficiency of our clients. Should tenant replacements be necessary, the Asset Manager will take the lead on releasing efforts and listing broker management.
- Portfolio Servicing – Communicate effectively with tenants and lenders including coordination of rent and lease notices, reserve draw requests, compliance with insurance requirements, tax escrows, leasing, capital projects and other approvals.
- Rent Billing and Collections - monthly rent billing and collections from tenants
- Operating Expenses - monthly payment of real estate taxes, insurance and other operating expenses
- Capital Expenditures - Ensure that tenants address any deferred maintenance / immediate repair items on a timely basis in accordance with lease and loan requirements
- Tenant Credit Analysis - Gather, chart in Excel and analyze quarterly and annual tenant financial statements
- Financial Analysis – Conduct all financial and investment analysis typically required in the management of institutional real estate investments for the assigned portfolios including: incremental investment decisions such as hold/sell, leasing, capital investment, disposition, and reforecast modeling; building expansions and other value enhancement or opportunistic transactions; tenant credit analysis; sources/uses and portfolio cash management.
- Financial Reporting – With Accounting support, the Asset Manager will take the lead role in monthly, quarterly and annual financial reporting (including audit and tax requirements) within BIG (internal), and for partners, and lenders, and ad hoc requirements.
- Budgets - Preparation of annual operating and capital expense budgets for all properties
- Capital Markets - Support the acquisitions, dispositions and capital markets functions as it relates to asset management interface with all manner of transactions (acquisitions, dispositions, financings, and recapitalizations). Will often take lead role in executing disposition plans.
The ideal candidate will have the following qualifications:
- Bachelor’s degree from four-year college or university, preferably with a focus in real estate finance, management, or development.
- Minimum 5 years’ experience in real estate asset management [in a lead role/capacity]. Experience in industrial properties strongly preferred.
- Proven high degree of real estate investment financial acumen and related analytical skills is required.
- Critical mindset and attention to detail is required. Must be able to validate own work.
- Proficiency in Microsoft Word, Excel, Outlook, and basic email, document, and file management software. Argus experience (preferred).
- Requires results-oriented, self-starter with the ability to independently manage to completion long, multi-step leasing or capital projects, capable of anticipating problems and taking necessary precautions to maintain the stable, long-term earning prospects of the asset and/or portfolios.
- Must be a a goal-oriented driver - while also being a team player, capable of building consensus in a collegial, fast-paced and growing organization.
- Asset Management
- Financial Analysis
- Portfolio Management
7+ to 10 years
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