Description
Enthusiastic, ambitious self-starter is sought to fill new Asset Manager position for a start- up commercial real estate investment company. This is a high-profile position with constant exposure and interaction with executive leadership, top-level clientele, and market leaders in the industry. The perfect candidate will have many areas of responsibility.
About Crestlight Capital:
Formed in 2017 by a Blackstone alum, Crestlight Capital is a private real estate investment firm with approximately $600 million in assets under management. Crestlight focuses on office and mixed-use commercial investments within the Sunbelt, Mountain and Midwest regions of the United States. Principals at Crestlight have over $17 billion of commercial real estate experience in the past 7 years.
Position Description:
This position will be directly accountable for the investment performance of a portfolio of office and mixed-use commercial investments across multiple cities. Applicants should have a strong foundation in office, retail, industrial and/or multifamily asset management. In addition, he or she will have transactional responsibilities that may include evaluating and executing lease negotiations, refinancing, acquisitions, and dispositions. Location will be primarily based in either Atlanta, Detroit, or New York City.
Key Job Responsibilities Include:
The Asset Manager will be responsible for the financial performance of a portfolio of assets by creating asset level strategy and then directing 3rd party leasing, property management and construction management functions to execute this strategy. Specific responsibilities will include:
• Direct coordination with property managers, leasing brokers and development / construction personnel to drive business plans
• Engage with equity and lending partners to communicate status updates and make recommendations on major asset-level decisions
• Participate in the timely production of investor reporting and internal communication apprising senior management of major changes in property fundamentals and competitive positioning
• Prepare annual asset business plans, operating budgets and capital budgets as well as monitoring budget to actual performance throughout the year
• Produce annual sell/hold assessments and assist in presenting recommendations to the management team and capital partners for each property
• Chair weekly internal asset management calls, including preparation and presentation of property activities and financial results to management
• Manage lease transaction process from proposal negotiation through lease execution
• Oversee the updating of financial projections and internal valuations
• Develop thought leadership and advanced market knowledge of target markets, including a deep understanding of local market trends, economic conditions, and real estate fundamentals
• Develop external relationships with key market participants including community leaders, investment sales brokers, leasing brokers, property managers, construction managers and lenders
• Assist in evaluating various acquisition opportunities and associated investment returns by working with the acquisition team to provide relevant market data and assumptions
• Dedicate time and resources to develop and train Crestlight’s team of Analysts and Associates
Qualifications:
• Undergraduate degree (BBA/BS/BA)
• Ideal candidate will have 4 to 8 years of combined commercial real estate asset management and/or relevant leasing and/or deal management experience
• Detailed understanding of institutional quality commercial real estate operations, construction management, leasing, finance, and accounting
• Strong knowledge of real estate capital markets, tenant demand and major markets
• Possesses strong transactional management, organizational and interpersonal skills
• Strong networking skills including but not limited to developing relationships within the brokerage community, directly with principals and/or joint venture partners to identify investment opportunities
• Excellent analytical skills
• Ability to develop conceptual ideas into effective communications, both oral and written
• Experienced with giving professional presentations and interacting with senior level executives and investors in a client-focused environment
• Demonstrated ability to operate both independently and in a team environment and work well under pressure to ensure best execution
• Conscientious and attentive to detail
• Demonstrated thought leadership in the real estate community and intellectual curiosity
• A commitment to excellence and to demonstrate leadership, integrity, initiative, flexibility, creativity and provide complete follow-through on areas of responsibility
• Ability to effectively multi-task and prioritize in a dynamic work environment
• Creative thinker willing to take and defend positions that may be at times contrary to conventional wisdom
• Willing to travel bi-weekly
• Software skills: Proficiency in Argus and Microsoft Office (including Excel, Word and PowerPoint)
This job is no longer active.