Director of Acquisitions/Senior Asset Manager

Director of Acquisitions/Senior Asset Manager

 

San Diego (UTC) based private commercial real estate company is looking for a seasoned, hard working real estate professional to join its team as Director or Acquisitions and Senior Asset Manager.  Job requires living/working in San Diego with occasional domestic travel.

 

Source value-add or under-valued real estate opportunities in Southwestern United States.  Will pursue direct real estate acquisitions, JV Structures, high-yield lending and acquisition of REO or real estate secured notes.

 

Responsible for the planning, operational oversight and performance of a diverse portfolio of assigned

commercial assets. Oversees all commercial activities associated with assigned assets.  Will report directly to the Partners and may be required to supervise one or more staff and work with outside counsels, third party property managers, brokers, consultants, and in-house accounting team and others as needed.  Some travel required.

 

Responsible for strategically planning and managing assets within the assigned portfolio to maximize

total return performance.

 

Existing portfolio includes: land development, self-storage, office, retail and industrial assets, secured notes and other strategic assets as assigned.

 

Entitlement and construction knowledge a positive but not required.

 

Management & Operations (60%)

 

Responsible for routine (lease negotiations, property management decisions) and transactions related to daily operations as well as interactions with internal staff, property managers, leasing agents and other third-parties.

 

Prepare documentation to support leasing and other transaction related decisions.

 

Oversee redevelopment or capital budget initiatives.

 

May provide oversight or directly manage other assigned staff.

 

Prepare quarterly asset summaries for fund investment summaries.

 

Track asset progress in relation to asset plan and other identified performance metrics (e.g. budgets, key transactions, vacancies, same store sales, ROI for capital investments, accounts receivables and delinquencies, total return, etc.).

 

Work with outside counsel to manage collections, lease defaults, terminations, bankruptcies, etc.

 

Ensure contract compliance of property managers, leasing agents, and other vendors.

 

Engage with tenants, investors, debtors and other stakeholders as needed.

 

Planning (20%)

 

• Independently develop asset plans for assigned assets.

 

• Identify strategic direction and positioning of assigned assets, to include: marketing and leasing strategies, operating model, cash flow forecasting, valuation, capital investments, key transactions (e.g. new leases, renewals, asset sales) and performance metrics.

 

• Develop detailed understanding of geographical area and property sector market conditions. Market area demographics, competing projects, supply/demand trends, rent comparables, etc.

 

Financial Management (10%)

 

• Create asset and capital budgets aligned with asset plan.

 

• Monitor and report on asset and financial performance relative to budget.  Provide periodic variance analysis.

 

• Identify and monitor underperforming or watch list assets and tenants, etc.

 

• Perform necessary financial analysis to support decision making (leasing, buy/sell/hold, capital expenditures, asset repositioning, etc.).

 

Other assigned duties (10%)

 

• Perform other duties and provide support as assigned (e.g. Fund-raising initiatives, acquisition due diligence assistance, etc.)

Education and Experience:

 

• Bachelor’s Degree required, MBA or other related degree preferred
• Continuing Education or professional certifications (e.g. CCIM, BOMA, CPM, MAI, RE License/broker, etc…) preferred
• 12+ years of related work experience
• Demonstrated understanding of commercial real estate investment activities, including leasing, acquisitions/sales, property management, investment analysis, repositioning and/or development, managing minor and major capital expenditures
• Familiarity with state and local agencies and regulations with regards to entitlements, permits, zoning, required tenant licensing, etc.
• Excellent financial analysis and modeling skills
• Excellent understanding of real estate documents including leases, purchase and sale agreements, easements, title documents, service contracts, LLC operating agreements, etc.
• Strong project management skills and ability to work independently and collaboratively
• Strong negotiation skills
• Demonstrated strategic and operational thinking, excellent business judgement and decision-making skills
• Skilled in building and managing relationships
• Strong interpersonal and communication skills, including, oral communication, and writing
• Strong computer skills and working knowledge of property budgeting and accounting systems preferred
• Desire to be an integral part of a small, motivated team striving to maximize investment returns and identify and exploit new real estate investment opportunities