The Asset Manager is responsible for creating and maintaining real estate value and returns. This role includes overseeing all operational activities from investment inception and strategic planning under appropriate hold, buy or sell situations. The position requires constant pursuit of maximum sustainable financial performance and asset value in keeping with the Strategic Plan, Operational Policies, Operational Procedures, Portfolio Planning initiatives and generally accepted business practices. This position entails full fiscal management responsibility for a specific portfolio of assets.
The Asset Manager position will act as the owner's representative and on behalf of the owner regarding matters relating to assigned assets within defined limits of authority.
DUTIES AND RESPONSIBILITIES
Develops asset plans for each assigned asset (or aggregated groups of assets with similar attributes) that focus on submarket conditions, strategic positioning of the asset, marketing and leasing, capital plans, operating model (staffing, subcontractors, systems, processes), cash flow forecasting, valuation, investment and sale timing (as appropriate) and performance metrics.
Full Profit and Loss (P&L) responsibility for a defined portfolio of assets. Responsible for creating and adhering to budgets. Financial performance will be measured using the following metrics: net operating income and cash flow, NOI growth and other appropriate benchmarks.
Researches and reports on financial activities, including:
Cash flow forecasting/financial trend analysis
Periodic variance analysis
Periodic standard and ad-hoc reports
Under-performing or watch-list reports
Rent rolls and other operational reports
Implements asset plans for each assigned asset and is directly responsible for property-specific and sub-portfolio operational needs within the limits of authority. Specific operational activities include:
Management of property managers
Tenant credit analysis
Support of leasing department in lease negotiations
Capital expenditure programs
Vendor and contractor oversight
Due diligence with regard to environmental issues, permits and code compliance
Preparation of CER’s for approvals
Develops a detailed understanding of the key market, micro-economic, political and real estate trends affecting each of the assigned assets, including economic growth, supply/demand, demographic trends, competitive projects, future projects, rental market preferences (rates, terms, etc.), zoning, expense trends, etc.
Supervision and Training
The Asset Manager directly supervises, trains and develops property managers
Establishes goals and key performance indicators
Evaluates managers and operational staff on a periodic basis.
Master degree in business or related field preferred
3-5 years of directly related work experience to include progressively responsible work experience in asset management preferably for an institutional owner.
Must have proficiency in underwriting software programs (Argus).
Must understand and have proficiency with the full cycle of real estate investment activities, including feasibility analysis, development, acquisitions, financial structuring, marketing, property management, marketing and leasing, and divestment.
Must have proficiency with asset planning such as buy, hold, and sell
Must have experience with project management and construction projects.
Must have proficiency with pro-forma analysis and budgeting, including the ability to develop an investment strategy, financial reporting, cash flow forecasting, appraisal, and debt, equity, and lease structuring.
Must have strong negotiation and analytical skills.
Must have strong verbal and writing skills.
Must be familiar with all typical real estate documents, including leases, purchase agreements, easements, title, access agreements, mortgage notes, service contracts, and credit reports.
Must have an understanding of real estate economics including supply and demand relationships, analytical techniques, and knowledge of appraisal approaches and drivers of value.
Must have a customer service orientation.
Must have strong interpersonal skills, including presentation, oral communication, and
About Poline Associates
Poline Associates is an international executive search firm specializing in the shopping center industry.We serve property owners, developers, retailers and service providers who are seeking remarkable talent and work to align them with candidates who are eager for new growth opportunities. Since 1979, our team has been connecting companies and candidates with a commitment to integrity and client satisfaction—making us the industry’s most trusted leader in recruitment.