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Weston Inc.
Warrensville, OH | Full Time
$94k-146k (estimate)
6 Months Ago
Asset Manager
Weston Inc. Warrensville, OH
$94k-146k (estimate)
Full Time 6 Months Ago
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Weston Inc. is Hiring an Asset Manager Near Warrensville, OH

ASSET MANAGER JOB DESCRIPTION
DEPARTMENT: Asset Management
REPORTS TO: Director of Asset Management
STATUS: Exempt
JOB SUMMARY
The primary focus of the Asset Management Department and therefore the Asset Manager is to enhance the long-term value of real estate properties through a combination of strategies targeting revenue growth, operating expense control, capital deployment, debt management and risk management.
Department Mission Statement: We will successfully lead all components that effect the creation of value on a portfolio of real estate assets, and tactically direct each component so that in synchronicity the team delivers the best possible near, mid- and long-term outcomes for the owners.
A successful candidate will implement the Department Mission Statement while strictly adhering to the Company’s stated Core Values.

QUALIFICATION STANDARDS

Education & Experience:
  • Bachelor’s Degree in Business, Finance or equivalent; Masters in Business Administration (MBA) is preferred.
  • 7 years commercial reat estate experience required.
  • Requires substantial knowledge and experience in structuring transactions, real estate and financial market analysis, and capital planning.
  • Strong financial and analytical skills, to include underwriting and financial modeling.
  • Ability to analyze and interpret complex term sheets, financing documents, lease agreements and Joint Venture documents.
  • Understand real estate valuation methodologies.
  • Understand, interpret and present Operating Statements, Balance Sheets and Cash Flow Statements.
  • MRI experience is a plus.
Key Personal Attributes:
  • Must be able to work as part of a team to include coordination with internal/external “clients”.
  • Proven track record in leading and managing teams.
  • Ability to analyze and communicate key financial information and investment recommendations to principals.
  • Must have an advanced level of Microsoft Excel, and the ability to learn specialized real estate software, (fluency in Argus a plus).
  • Proactive nature, with demonstrated ability to multi-task.
  • Strong work ethic, organizational skills, excellent problem-solving skills; superior energy level; high initiative, ability to process work quickly, accurately and with changing priorities.
  • Must be committed, driven and hungry for achievement.
  • Must be able to convey information and ideas clearly.
  • Must be inquisitive, a great listener and self-reliant.
  • Must be thoughtfully decisive.
  • Must use knowledge and experience to anticipate future needs.
  • Must be effective in handling problems in the workplace, including anticipating, preventing, identifying, and solving problems as necessary.
  • Embraces and practices Company Core Values.
  • Maintain a professional demeanor in all situations.
  • Must have the ability to assimilate complex information, data, etc., from disparate sources and consider, adjust or modify to meet the constraints of the particular need.
  • Must be effective at listening to, understanding, and clarifying the concerns and issues raised by co-workers and customers.
  • Must have excellent written and oral communication skills.
ESSENTIAL DUTIES & RESPONSIBILITIES
Asset Management:
  • Lead Post Closing Acquisition Meetings and One Year PAR reviews with comparison to original underwriting.
  • Prepare quarterly reforecasts on a rolling 12-month basis and assist Treasury with cash forecasting.
  • Prepare Capital Calls.
  • Continuous monitoring of financial performance and develop strategic recommendations to maximize the financial return of each asset.
  • Periodic evaluation and analysis of Company’s real estate holdings; identify under-performing assets and recommend alternatives to ownership.
  • Maintain NAV / GAV schedules for all assets in your portfolio.
  • Prepare Executive Summary Packages for all assets in your portfolio.
  • Support Investor Relations Department with information and forecasting.
  • Analyze and summarize all Property Budgets during the budget process with emphasis on multi- year NOI variances.
  • Review and finalize property capital budgets each year (building & tenant improvements, and lease commissions).
  • Monitor debt compliance as it relates to leases, capital improvements, reporting and DSCR triggers.
  • Support efforts to maintain REO schedule.
  • Perform other duties as assigned.
Marketing and Leasing:
  • Provide insight and leadership toward the development of Marketing Plans.
  • Lead Transaction Team (internal or external) through effective motivation and accountability.
  • Provide direction and decision making for all new and renewal lease deals, factoring all relevant variables to meet the Departmental Mission Statement.
  • Prepare lease analysis for key business and legal terms.
  • Negotiate lease terms as needed.
  • Prepare lease packages for ownership approval.
  • Finalize and approve all lease assumptions for each asset in your portfolio.
Property and Project Management:
  • Provide insight and leadership toward the development of property operating budgets.
  • Lead Property and Project Mgt. Teams (internal or external) through effective motivation and accountability.
  • Provide direction and decision making for capital and operational endeavors, factoring all relevant variables to meet the Departmental Mission Statement.
  • Negotiate and finalize all service provider leasing and management agreements.
  • Monitor and provide direction for all accounts receivable issues.
  • Review monthly operating statements and variance reporting.
  • Review and approve CAM calculations provided by the service provider.
Physical Requirements:
  • Able to travel for business purposes.
  • Able to lift or carry objects weighing 15 pounds or less.
Qualified candidates must be able to perform the essential functions of this position satisfactorily with or without a reasonable accommodation. Disclaimer: this description is not necessarily an exhaustive list of all essential responsibilities, skills, tasks, or requirements associated with this position. While this is intended to be an accurate reflection of the position, the Company reserves the right to modify or change the essential functions of the job based on business necessity.

Job Summary

JOB TYPE

Full Time

SALARY

$94k-146k (estimate)

POST DATE

12/08/2023

EXPIRATION DATE

07/24/2024

WEBSITE

teamweston.com

HEADQUARTERS

CLEVELAND, OH

SIZE

100 - 200

FOUNDED

1972

CEO

ANN S ASHER

REVENUE

$10M - $50M

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About Weston Inc.

Weston Inc. is a commercial real estate company with 12 million square feet of property across the United States. Established in 1972 with the purchase of older industrial real estate, the company today has offices in Cleveland, Ohio and Louisville, Kentucky, and encompasses acquisitions, leasing and management services. Weston specializes in identifying and securing customers for industrial warehouse/distribution centers within its portfolio and places an emphasis on outstanding customer service. The company's ability to work with tenants to achieve their facility goals is a key reason why te...nants choose Weston, not only in Northeast Ohio, but across the country. While the lease is important to us, it's our relationships that matter the most. Weston...We See To Your Vision More
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