Real Estate Asset Manager

Job Description

Job Description

Description :

This position is primarily responsible for directly overseeing a portfolio of assets while also assisting in the management of the financial performance and business strategy portfolio wide. Asset types would encompass office and retail. The focus of the role is to create value by increasing NOI while mitigating risk. We employ a unique approach to Asset Management requiring very hands-on involvement; intimately involved in the details as well as being able to think and plan strategically.

Job Duties and Responsibilities :

• Works in a collaborative fashion with third-party property managers, lease administrators, legal counsel, auditors, accountants and architects or engineers as well as in-house development, construction, accounting, and finance groups to oversee his / her own portfolio of properties.
• Works closely with third-party brokers and leasing agents to ensure proactive lease-up and tenant retention, knowledge of respective markets and competing properties, manage and maintain positive tenant relationships, and ensure our assets are most effectively positioned to be the top performers in their respective markets.
• Provides direction and oversight of business plans, budgets, forecasts, all variations of lease documents, analyses (including credit, lease accounting and abstracting), and approvals. Coordinates and oversees property managers, construction managers, and TI / Capex projects with our Capital Improvements Manager.
• May be required to supervise a team, either externally or internally, ensuring adherence to our internal process while producing high quality work products.
• Monitors and identifies opportunities to increase income while reducing expenses such as appealing real estate tax assessments, utilizing third-party consultants, managing utility expenses and / or increasing recoveries.
• Participates in the creation of annual budgets and multi-year projections which includes a strategic review, comparisons of budget projections to historical performance and comparison of budget projections to Company benchmarks.
• Participates in routine asset reviews and routine, frequent site visits. Performs physical property inspections to ensure properties are being maintained by third party property management at a high level and that there is no deferred maintenance.
• Performs review of monthly financial reports working directly with third-party property managers which includes quarterly review and approval of third-party prepared accrual workbooks and CAM calculations. Reviews and provides updates on monthly fixed asset workbooks from internal portfolio accounting team, bad debt analysis from internal portfolio accounting team, and quarterly income projections from internal finance and portfolio accounting team.
• Conducts routine meetings, site visits, and / or conference calls with property management and leasing to discuss asset-level strategies and operational issues.
• Assists with due diligence process on development projects and may be a member of a development deal team. As part of the development deal team, responsibilities would be to prepare both the revenue and expense sides of a development proforma by compiling market data derived from site visits, local brokerage networks, etc. as well as weighing in on value-add operational issues / strategies. Would take the lead on lease-up of new projects as well as commissioning and transitioning into operations.
• Assists in pre-acquisition input and due diligence including review of financial and operational documentation to include underwriting, structuring, and reviewing third-party reports.
• Responsible for portfolio-wide analyses involving coordinating receipt of financial data at the asset level and consolidating that to provide portfolio data, preparing portfolio data for projection and forecasting models working closely with in-house financial analysts.
• Monitors and identifies opportunities to create process improvements, including drafting and implementation of new policies, procedures and programs, where applicable.

Requirements :

Physical Demands and Work Environment

While performing the duties of this job, the employee will regularly work inside an office; however, this position involves periodic outside work with construction site visits, property inspections, tours with lenders, buyers, etc. Performance of these duties will require the physical ability to occasionally climb permanent and temporary stairs, passenger use of construction personnel hoists, ability to climb ladders and negotiate work areas under construction. Specific vision abilities required by this job include close vision, peripheral vision, depth perception and the ability to adjust focus.

Performing this job will require use of hands to fingers with the ability to handle, or feel objects, sit, talk and hear. It requires the employee to stand, walk, climb, balance, stoop, and kneel. Employee may occasionally lift and / or move up to 20 pounds.

Travel will be required so employee must have a valid driver’s license and a good driving record in accordance with Armada Hoffler’s Driver Qualification Policy.

Employee must be able to pass pre-employment and random drug screens and a background check.