Senior Asset Manager

Company Description

A place where people can come together, making communities whole

Recognizing and responding to change has been the cornerstone to our success in adding value to assets by
improving the lives of the people they serve.

CarrAmerica is dedicated to creating a healthy mixture of uses in desirable locations by working together with all
stakeholders both public and private to deliver the best end result for the communities in which we develop.

Job Description

Job Title:

Senior Asset Manager

Supervisor:

Senior Vice President of Asset Management

Position Type:

Full-Time, Non-Exempt

Summary:

The Senior Asset Manager will be a key member of the Asset Management team, responsible for managing a diverse portfolio of operating hotels, commercial office buildings, and residential properties primarily located in the Washington, DC area. This role involves supporting the Asset Management team in creating and executing asset-specific business plans to maximize value and manage risk. The position requires collaboration across various disciplines within the company, including property management, construction services, development, finance, accounting, and legal.

Key Responsibilities:

• Optimize Asset Performance:
  • Financial Performance: Assist in preparing and reviewing annual operating budgets. Review monthly financial statements and recommend revenue strategies and cost control initiatives to hotel management teams. Monitor monthly cash flow and partner distributions.
  • Market Positioning: Monitor revenue strategies for hotels to achieve growth in RevPAR share in the local market. Oversee leasing strategies for offices to meet occupancy targets.
  • Capital Deployment: Organize hotel renovation programs and identify profit-improving projects.
• Maintain Asset Summaries and Reports:
  • Prepare and maintain monthly and quarterly asset summaries, loan summaries, and ownership reports.
  • Compile annual business plans and presentations.
• Budget and Project Management:
  • Assist in preparing and approving annual operating and capital budgets.
  • Monitor FF&E reserve funds and major repair and maintenance projects at hotels.
• Lease and Contract Management:
  • Prepare and evaluate office lease recommendations and legal documents.
  • Coordinate and manage internal and external resources, including attorneys and consultants.
• Financial Modeling:
  • Create and maintain Excel and Argus financial models for each asset from acquisition through disposition.
  • Re-forecast future cash flows and narrate variances.
• Relationship Building:
  • Develop strong working relationships with hotel and office management teams in operations, accounting, sales, revenue management, and engineering.
  • Collaborate effectively with
• Performance Monitoring:
  • Monitor guest/tenant satisfaction metrics, brand audits, and employee opinion surveys.
  • Benchmark operating results.
• Transaction Support:
  • Assist Finance and Accounting teams with acquisitions, dispositions, and refinancing transactions.
  • Manage fixed costs, including property tax appeals, insurance renewals, and various leases.

Qualifications

Requirements:

• Bachelor’s degree in finance, accounting, hospitality management, or real estate. MBA or Master’s in Real Estate is a plus.
• 3-5 years of experience in hospitality management or commercial real estate, preferably with finance, accounting, or revenue management experience.
• Results-oriented professional with experience managing multiple projects and deadlines.
• Strong leadership skills with the ability to build relationships and manage people and processes.
• Proficiency in Microsoft Office, especially Excel.
• Strong analytical and quantitative skills. Experience with Argus is a plus.
• Self-motivated, detail-oriented, reliable, and flexible.
• Excellent written and verbal communication skills.
• Capacity to travel locally is needed to conduct on-site asset reviews, attend meetings, and oversee projects and initiatives.

Additional Information

At CarrAmerica, we value our employees and believe in everyone’s own personal success. We offer a top of the line benefits package including a 401(k) with company match, a steady schedule — Core business hours are 9am - 6pm M-F, and a chance to grow within an organization that truly values its employees.  This position is based in office at the Willard Office Building in Washington, DC.  This position has a requirement to be in office 4 days a week with 1 flex or work from home day per week.  

The salary range for this role is $100,000 - $110,000 benefits bonus.

Individual pay is determined by skills, qualifications, experience, and location. Compensation details listed in this posting reflect the base salary only and do not include bonus, or incentives, if applicable. In addition to base salary, CarrAmerica benefits. Learn more about the benefits.