Asset Manager

ASSET MANAGER

SUMMARY:

The Asset Manager will be responsible to support and assist the president in performing the various tasks and the oversight of the day-to-day working with third party service providers, including leasing agents, property managers, contractors, developers, accountants and other professionals.

The Asset Manager in coordination with the president will collaborate with the operations team and monitor operations and performance of properties under management, to insure that our operating standers are understood and maintained to achieve optimal performance and service to the assets.

Work with the president to develop, establish long range and short term strategic plan and prepare detailed asset management strategies (Business Plans, Leasing and Marketing Plans, Capital Expenditure Plan, Budgets, Reforecasts, Hold/Sell analysis) and subsequent implementation to insure maximizing the value and cash flow of the real estate investments within the context of investment objectives.

REPORTS TO:

President

RESPONSIBILITIES:

Financial & Budgets:

• Assist in monthly review of accounting reports (financials, trial balance, general ledger, collections, payables, and cash flow) with the Property Manager, third party accounting firms.
• Assist in preparation of monthly, quarterly and annual reporting for internal purposes, to management and investor.
• Monitoring of actual revenue, costs and cash flow compared to Business Plan and Projected Cash Flows.
• Monthly track properties, occupancy, expenses, cash flow, and capital to understand how they are performing against budget.
• Analyze property rent rolls and financial reports to confirm effective gross income, net operating income, debt service coverage, loan to value, physical and economic occupancy, and other relevant performance metrics.
• Assist in the preparation of annual budgets and business plans and ensure property compliance with such, reviewing portfolio performance with Senior Management team.
• Assist in analysis and comparison of current and historical operational NOI and key metrics with all assets.
• Assist in preparing quarterly reports on property performance along with progress on strategic initiatives.
• Prepare draft for asset manager for monthly and quarterly reports. Procure information from leasing and management companies on a timely basis.

• Maintain reporting templates for monthly property performance compared to budget and underwritten returns. Maintain quarterly/year-end fund level reporting for IRR/equity multiples, debt summary, and performance.

Operations:

• Perform periodic property visit and inspect buildings, site inspections to ensure property performance and maintenance in accordance to third party agreements and company standards.
• Assist in working with third party Property Management team and outside consultants to minimize expenses across all portfolio properties.
• Assist in determine appropriate service levels, reviewing staffing, scope of third party services and non-contracted recurring expenses.
• Assist to develop and implement purchasing, procurement and spend management processes, establishing consistency and effectiveness; manage annual competitive bidding of service contracts.
• Review and recommend for approval contracts, processes, reports, budgets, marketing material, and other related operational information.

Leasing:

• Assist in oversee leasing and marketing plan to include lease up projections, estimated tenant improvement costs, supervise and coordinate the negotiation of leases, approve lease transactions within parameters, present and obtain senior management approval for transactions outside of parameters. Review and recommend revised leasing policies and procedures.
• implement marketing plans and continuously monitor/adjust. Manage marketing materials; Co-star, etc. take responsibility for new and renewal leasing.

Capital Improvements:

• Assist in reviewing and present recommend and justify capital projects that improve existing systems, operations or efficiency.
• Oversee and report on capital improvement projects; update renovation-tracking reports and distribute to senior management.
• Assists in the approval process for capital expenditures within property business plan parameters.

REQUIREMENTS:

• Bachelor's degree; preferred in Finance or Business Management.
• Seven or more years in commercial real estate with relevant asset management, property management, financial analysis, accounting experience, including commercial office buildings, residential, hospitality and land development.
• Strong understanding of basic commercial real estate concepts and valuation techniques.
• Experience reviewing trial balance, general ledger, cash flow, income and expense.
• Strong analytic skills and experience in financial analysis.
• Modelling competence including MS Excel and ARGUS or DYNA.
• Basic knowledge of building construction systems and management operations.
• Strong written and verbal communication and presentation skills; strong negotiator, effective at managing conflict.
• Excellent planning, organization, and interpersonal skills.
• Strong organizational, project management and decision-making skills.