Asset Manager - Commercial Real Estate

ASSET MANAGER, Commercial Real Estate Projects

ERES Companies

Position to be based out of our office in Sarasota, Florida

Recruiters - Please DO NOT reach out directly to our executive team or staff on LinkedIn or via email. We are hiring for many positions and have a dedicated recruiter who will handle the process. We appreciate your compliance.

A note to our potential applicants - we value your time!

• Please do not apply if you are not located near Sarasota, FL or personally willing to relocate. This is an on-site position.
• Please do not apply if you do not have specific experience detailed on your resume demonstrating experience working within an Asset Management.

THE OPPORTUNITY WITH ERES

The Asset Manager will collaborate closely with ERES Capital executives and team members on all facets of the asset management process for both existing investment properties and those under development. This role is pivotal in managing individual real estate investments within the company’s portfolio, maximizing value by providing leadership in the fields of finance, accounting, operations, and third-party property management. The Asset Manager will be responsible for overseeing and tracking property budgets and will work in partnership with the ERES Capital team to provide strategic guidance on short-term and long-term capital planning and asset performance optimization. 

Essential Duties and Responsibilities

• Lead each individual asset and the overall portfolio to maximum cash flow and valuation - driving on-time and on-budget, market-leading investment results. Review and assess portfolio operating performance with great attention to detail in financial reporting and market analysis.
• Implement strategies to optimize the performance of existing assets, such as lease renegotiation, capital improvements, and operational enhancements, to maximize revenue and value. Develop annual business and operational action plans for each property. 
• Identify opportunities for acquiring new assets or disposing of underperforming assets based on market analysis, financial projections, and organizational goals. Incorporate newly acquired assets into asset management infrastructure.
• Oversee spend decisions on capital expenditures, expansions, developments and redevelopments. Oversee debt and equity capital executions for adjusting business plans. Generate asset valuations, cash-flow projections, and other strategic analyses.
• Orchestrate the administration of compliance needs in the insurance, debt servicing, and securities arenas. Identify and assess risks associated with asset ownership and develop risk mitigation strategies to protect the organization's interests and optimize returns.
• Oversight of investor distributions, refinance opportunities, and disposition analyses. Create quarterly asset reports for distribution internally and to third-party investors. Roll up reporting to the corporate financial planning to help inform leadership's investment and growth plans
• Develop communication and collaboration processes with Acquisitions, Accounting, and Investor Relations. Communicate key portfolio goals to the asset management, property management, and leasing teams. Collaborate with internal and external stakeholders to gather input, address concerns, and foster positive relationships throughout the project lifecycle.
• Negotiate letters of intent and leases with key occupiers in conjunction with the leasing team
• Review, analyze, comprehend, abstract, and interpret various types of real estate documents, including leases, rent rolls, budgets, operating statements, expense recovery reconciliations, loan agreements, and other information used in the underwriting process. Ensure compliance with loan documents and franchise agreements, and in accordance with financial covenants as applicable.
• Ensure that all projects comply with relevant regulations, permits, and safety standards. Stay informed about industry best practices, emerging technologies, and other developments to continuously improve project management processes and methodologies.

Position Requirements: Skills & Experiences

• A minimum of 5 years of experience at the Asset Manager level
• Well versed and experienced with hospitality, multifamily and industrial development sectors. Understanding their different investment characteristics and an ability to see the "big picture" in commercial real estate and capital markets finance transactions. Knowledgeable on fundamental concepts, practices and procedures associated with commercial real estate and investment analysis.
• Understanding of financial terms and principles necessary in real estate underwriting, including Discounted Cash Flow, IRR, NPV, Time Value of Money, Return on Equity, etc.
• Ability to comprehend, analyze and interpret various types of real estate documents, including leases, contracts, and financial statements.
• Ability to review and negotiate other documents, including but not limited to joint venture agreements, property management agreements, and purchase and sale agreements.
• Ability to think and act like an owner and define and execute asset management strategy, including leasing and property management via third-party providers.
• Fundamental understanding of key aspects of the lease process and leases and their impact on property performance. Experience negotiating with tenants is a plus.
• Highly developed verbal and written communication skills – ability to interact effectively and professionally with a wide variety of internal parties (managers, analysts, sales professionals, clients, etc.).
• Close attention to detail and strong organizational skills; ability to multi-task in order to meet client deadlines.
• Proficient computer skills, particularly in Excel. Experience with ARGUS and YARDI is preferred
• Collaboratively and creatively supports the work efforts of colleagues at all levels and in all areas of the company
• University or college degree in Real Estate, Finance, Economics or related field

Company Overview

Founded in 2014, ERES Companies is one of the fastest growing and unique real estate firms in the world. Unlike other commercial real estate service providers, ERES provides a truly vertically integrated approach to meet a multitude of real estate needs seamlessly controlling projects from start to finish. Leveraging the comprehensive power of our service lines, we are enabled to research, analyze, and provide the most efficient, cost-effective solution available for our client’s real estate investments. This translates to peace of mind in knowing that their needs, timeline, and budget are being considered at every phase of their project. Our collective commitment to excellence, hard work, and creativity has resulted in a rapid firm expansion that has led ERES to complete thousands of successful projects both domestically and internationally, represent over five million square feet of commercial space and more than $1 billion in real estate value, and manage over 6,500 multifamily and industrial units.

Our sophistication and expertise, combined with our small company values and client-centered approach, have provided us opportunities to partner with best-in-class, global corporate clients, including several Fortune 500 companies, in solving some of their largest and most challenging real estate issues. ERES is currently comprised of over 150 dedicated professionals working tirelessly to provide the finest all-inclusive real estate services in key secondary and tertiary markets across the globe. Always opportunistic about expanding operations, we have eleven domestic and international office locations in Denver, CO, Sarasota, FL, Williston, ND, Bozeman, MT, Fort Worth, TX, Midland, TX, New York, NY and Neuquén, Argentina.

ABOUT ERES CAPITAL

ERES Capital is a full-service real estate investment and development platform operating both domestically and internationally. Our core focus is on fast-growing secondary and tertiary markets where we seek unique, off-market opportunities across hospitality, healthcare, industrial and education verticals. We pride ourselves in identifying hard to find, off market deals that fit our investment criteria and can garner above average, risk-adjusted returns across market cycles. Such opportunities could include special situations, value-add, or even ground-up developments with unique market characteristics. The ERES Capital team approaches each project with a tailored methodology that reflects the distinctive character of the asset, its location, the target audience, the estimated project timeline and the investor’s financial goals.

EEO STATEMENT

Energy Real Estate Solutions, LLC is an equal opportunity employer and committed to developing and maintaining a diverse workforce. Energy Real Estate Solutions, LLC strongly believes in equal opportunity for all, without regard to race, color, religion, creed, age, sex, pregnancy, family responsibility (e.g. child care, elder care), national origin or ancestry, citizenship, marital status, sexual orientation, gender identity or expression, transgender status, veteran’s status, genetic information, or status as a qualified individual with a disability, protected leave status or any other protected characteristic in accordance with applicable law. The company also endeavors to make reasonable accommodations for known physical or mental limitations of otherwise qualified employees and applicants with disabilities unless the accommodations would impose an undue hardship on the operation of our business. Equal employment opportunity will be extended to all individuals in all aspects of the employment relationship, including recruitment, hiring, promotion, transfer, training, discipline, layoff, recall and termination.