Job Description: Asset Manager
Location: Los Angeles, CA
Established in 1992, Cohen Asset Management, Inc. (“CAM”) is a premier national real estate owner and operator of highly functional industrial properties including fulfillment, warehouse and distribution centers, manufacturing facilities and infill/last-mile properties that provide solutions for the growing 21st century e-commerce economy and global supply chain. Our investors benefit from our commitment to investment excellence, disciplined investment approach based on market fundamentals, depth of market knowledge, asset management capabilities and organizational strength. With headquarters in Southern California and an office in Northern New Jersey, our cross-country reach enables us to actively manage a national portfolio. Having collectively acquired, developed and sold over $3B of real estate throughout the United States, our principals have hands-on experience over many market cycles, spending virtually their entire business careers in real estate. Our multi-disciplinary team includes in-house Acquisition, Asset Management, Administration, Compliance, and Accounting capabilities.
CAM is seeking an Asset Manager to be based out of CAM’s headquarters in Los Angeles. The Asset Manager will be responsible for executing each asset’s investment strategy, value creation and outperformance through direct oversight of property operations, leasing and capital deployment of a regional portfolio of high quality industrial properties. In this role, the Asset Manager will be responsible for overseeing and managing third-party leasing and management companies and their respective staff and performing regular financial analysis and institutional-caliber reporting.
Key Tasks and Responsibilities:
Strategic Plan, Budget & Reporting:
- Develop and execute annual strategic plans for each asset in regional portfolio and actively participate in regular strategic discussion with Senior Management.
- Prepare comprehensive annual budget to include operating projections for income, expense, capital expense needs and financing costs.
- Responsible for periodic institutional caliber reporting at both the operational and ownership level. Periodic reporting to include monthly budget comparison/variance analysis, periodic budget reforecasts, property status reports, and quarterly comprehensive financial reports.
- Direct oversight of property operations, leasing and capital improvement projects including oversight of third-party property management and leasing providers.
- Perform regular market visits to inspect properties and maintain proactive relationships with tenants and service providers as well as market participants; frequent, independent travel required.
- Work closely with accounting team in reviewing accounts receivables for assigned portfolio of properties including resolving tenant collections issues.
- Review and approval of accounts payable for assigned portfolio of properties. Responsibilities include oversight of bid process and contract drafting and execution.
- Review and approve documents related to operating and marketing the properties, including management agreements, leasing agreements, and service contracts.
- Work with senior management in the disposition process of properties in portfolio including review of marketing material, managing due diligence and closing requirements.
- Direct responsibility for executing the leasing strategies for properties in portfolio including oversight of third-party leasing agents and attorneys to achieve successful execution of new and renewal leases.
- Actively participate in lease negotiations including analysis of lease proposals and managing internal approval process for active leases.
- Responsible for execution of tenant improvement projects to ensure completion on a timely basis and within financial budget.
- Monthly travel and flexible hours required.
- Minimum of 5 years property management and/or asset management experience.
- Experience with Industrial real estate asset class preferred.
- Proficient in Yardi Voyager (7s), Excel, Word. Experience with Kardin and ARGUS preferred.
- Excellent written and verbal communication skills.
- Detail oriented with strong organizational and time management skills.
- Asset Management
5+ to 7 years
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