Chicago, IL
Salary Estimate: $100,000.00 - $124,999.00
Employment Type: Full Time
Work Place: Office
Experience Required: 2+ to 5 years
Education Required: N/A
Job Description
Park Madison Property Management Co. (“PMPM”) – an affiliate and the captive property manager of The Georgetown Company – is looking for a Property & Asset Management Associate with a passion for real estate investment and operations, and the ability to work in an entrepreneurial environment. The position reports directly to the Head of Asset Management and involves operational oversight of a portfolio of 8-10 investments, including associated analytical work. The Property & Asset Management Associate should have a strong background in property operations and leasing, with experience creating and enforcing property-level budgets, collaboration commercial leasing brokers, and the maintenance of financial models for assigned properties. Candidates in New York, Chicago, and Columbus OH are highly encouraged.
Responsibilities will include:
- Lead the execution of long- and short-term property goals, across a diverse set of assets, investment types, and geographic locations.
- Produce property-level operating budgets and maintain extensive financial models in Excel and Argus to evaluate leasing and financing decisions.
- Collaborate with accounting to prepare invoices, rent statements, financial statements and ad hoc reporting tasks as requested by senior partners, investors, lenders and joint-venture partners. Coordinate with leasing brokers to source, analyze and execute lease transactions, including preparation of lease agreements, review and execution of tenant estoppels, and evaluate tenant credit.
- Engage and oversee contractors and vendors concerning service contracts, work schedules, billing and insurance. Coordinate with engineering staff and maintenance staff to ensure successful operation of office and retail properties.
- Manage relationships with tenants, lenders, brokers, property appraisers, legal counsel, real estate tax consultants, contractors, vendors and a variety of third-party consultants.
- Recommend value-creation strategies across the portfolio including leasing transactions, renovation and repositioning projects, densification and operating cost-saving measures.
- Assist in turnover and commissioning for development projects to ensure successful transition from construction to operations.
- Assist in due diligence of potential acquisitions including expense analysis, lease review and underwriting assumptions and modeling review.
- Conduct property visits on as-needed basis (<10%) for a portfolio of assets in the Northeast and/or Midwest.
Qualifications: Ideal candidates will have the following background and skill set:
- 3 to 5 years of experience in property management and/or asset management
- Proficiency in full suite of Microsoft Office products, and comfort creating presentation documents in either Word or PowerPoint. Experience with MRI a plus, but not required
- Exceptional attention to detail and ability to learn quickly
- Excellent written and verbal skills
- Ability to interact with clients and senior partners in a responsible and effective manner
Park Madison Property Management Co. is an Equal Opportunity Employer and provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability, or genetics.
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