Asset Manager - Office Portfolio

Job Description

POSITION SUMMARY
The Asset Manager is responsible for overseeing the performance of the office portfolio, which includes managing relationships with tenants, analyzing financial performance, and implementing strategies to enhance the value of the portfolio. The asset manager shall oversee building expenditures, CAM budgets, construction projects, property taxes, municipal regulations, and tenant requests. This position will interact extensively with the President and Director of Asset Management to determine portfolio level goals, and LKWP’s functional departments (Legal, Property Management, Construction Management, Accounting and Marketing) to accomplish those goals. 

PRIMARY DUTIES & RESPONSIBILITIES

• Develop and implement asset management plans to achieve financial and operational goals for each property in the portfolio.
• Monitor and analyze market trends, competitor activities, and economic indicators to identify opportunities and risks that may impact the portfolio's performance.
• Implement strategies to enhance revenue, minimize vacancies, and maximize lease renewals through effective lease negotiations and tenant retention programs.
• Collaborate with property management teams to ensure properties are well-maintained, operate efficiently, and provide a high-quality experience for tenants.
• Conduct financial analysis, including cash flow projections, budgeting, and variance analysis, to assess property performance and identify areas for improvement.
• Prepare regular financial reports, including income statements, balance sheets, and performance metrics, to keep stakeholders informed about the portfolio's financial health and progress towards goals.
• Monitor and manage property-level budgets, capital expenditure plans, and operating expenses to ensure financial objectives are met.
• Work with the President and Director of Asset Management to evaluate potential acquisitions and dispositions of properties within the portfolio, conducting due diligence, financial analysis, and risk assessments.
• Develop investment strategies and recommendations to optimize the portfolio's value, considering factors such as market conditions, property performance, and investor objectives.
• Collaborate with brokers, legal counsel, and other professionals to negotiate and execute property transactions, ensuring optimal terms and conditions.
• Cultivate strong relationships with key stakeholders, providing regular updates on portfolio performance and addressing any concerns or inquiries.
• Present investment strategies, performance reports, and recommendations to stakeholders, fostering transparency and confidence in decision-making.

• Perform other duties as assigned.

SUPERVISORY RESPONSIBILITIES

This position provides formal supervision of individual employees within the functional or operational area.   Responsibilities include interviewing, hiring, and training employees; mentoring and coaching employees to further develop competencies and enhance overall team performance; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.  Leads by example and models behaviors that are consistent with company’s values.

JOB SKILLS & ABILITIES

• Detail orientated with a passion for organization and analysis. Ability to engage in a wide variety of tasks simultaneously, daily reprioritizing and consistently meet deadlines.
• Ability to solve problems involving several different options and convey the positive and negative attributes of these options to tenants and ownership.
• Excellent communication skills including the ability to negotiate, explain complex concepts and issues, and use tact and diplomacy in sensitive situations.
• Must be able to review, analyze and interpret legal documents (leases and contracts) and financial information accurately for the purpose of responding to tenant requests.
• Ability and desire to provide efficient, timely and courteous service to customers, including the ability to handle conflict.
• Ability to calculate intermediate figures such as percentages, discounts, commissions and rental rates per square foot.
• Ability to effectively manage staff and prioritize tasks for the department.
• Ability to travel locally as needed.

EDUCATION &/OR EXPERIENCE

• Bachelor’s Degree from a four-year college or university and at least 10 years of related commercial real estate, asset management, property management experience with a focus on office properties required or equivalent combination of education and experience.
• Working knowledge and hands on experience on Microsoft Office software products–especially Excel, Outlook and Word.
• Preferred Yardi Voyager 7S hands on experience.
• RPA or CPM professional designation or candidacy preferred