What are the responsibilities and job description for the Commercial Real Estate Asset Manager position at River Commercial?
A commercial real estate asset manager is responsible for overseeing and optimizing the financial performance of a portfolio of commercial properties, maximizing their value by strategically managing leasing, tenant relations, capital expenditures, market analysis, and risk mitigation, with the primary goal of generating consistent returns for investors while maintaining compliance with investment objectives. Key responsibilities may include:
- Financial Performance Monitoring:Analyzing financial data like occupancy rates, rent rolls, income and expense statements, and comparing them to budget to identify areas for improvement.
- Marketing: Broad understanding of marketing and coordination of marketing requirements to optimize the Leasing Strategies.
- Leasing Strategy:Overseeing leasing activities, including tenant acquisition, lease negotiations, and renewal strategies to maintain high occupancy levels.
- Capital Expenditure Management:Evaluating and approving capital expenditures for property upgrades, renovations, and maintenance to enhance asset value.
- Market Analysis:Conducting market research to identify trends, competitor activity, and potential opportunities to optimize asset performance.
- Tenant Relationship Management:Building strong relationships with tenants to address concerns, manage lease compliance, and encourage tenant retention.
- Business Plan Development:Creating and executing strategic business plans for each property within the portfolio, aligning with investment goals.
- Risk Assessment and Mitigation:Identifying potential risks associated with properties and implementing strategies to minimize exposure.
- Reporting and Communication:Preparing regular financial reports for investors, stakeholders, and senior management, highlighting key performance metrics and any potential issues.
- Property Management Oversight:Collaborating with property managers to ensure smooth day-to-day operations and address operational concerns.
- Disposition Strategy:Assisting in the sale of properties within the portfolio when necessary, including market analysis and negotiation with potential buyers.
Required Skills and Qualifications:
- Real Estate License preferred, but not required
- Strong understanding of commercial real estate market dynamics, including lease structures, property types, and local regulations
- Proven financial analysis skills, including budgeting, forecasting, and valuation techniques
- Excellent communication and interpersonal skills to build relationships with tenants, brokers, and stakeholders
- Experience in contract negotiation and lease management
- Proficiency in data analysis and reporting tools
- Strong analytical and problem-solving abilities
- Bachelor's degree in real estate, finance, business administration, or related field
- Relevant experience in commercial real estate asset management
Job Type: Full-time
Pay: $77,468.00 - $84,282.00 per year
Benefits:
- Health insurance
- Paid time off
- Professional development assistance
Schedule:
- Monday to Friday
Work Location: In person
Salary : $77,468 - $84,282
