Asset Manager
Position Description
The Asset Manager will be responsible for actively managing a portfolio of office assets to develop strategy, optimize cash flow, and enhance value.
- Develop and implement strategic business plans for each asset that will govern its daily operations, position in the market, and ultimate disposition
- Direct and steer Property Management team to assure financial performance, timely reporting, proactive and high-quality repairs and maintenance, and positive tenant relations
- Model full life cycle of each asset from acquisition through disposition including investor returns under different scenarios
- Assist with disposition and refinancing efforts through broker solicitation and selection, negotiation of legal agreements, and closing
- Assist with conducting transaction analysis and support due diligence for new acquisitions
Financial Analysis, Oversight, and Investor Reporting
- Lead the annual budget, business planning, and reforecasting process for each asset
- Review monthly property management reports for variance against budget and strategy
- Prepare monthly, quarterly, and annual reporting for investor clients and senior leadership
- Create cash flow projections, analyze and recommend investor capital calls and distributions
- Perform Argus valuations of each asset on a bi-annual basis
- Review third-party appraisals for accuracy and consistency
- Develop analytical tools to allow leadership to better understand the state of the portfolio
- Monitor and maintain compliance with all lender requirements
- Monitor timely payment of taxes and insurance premiums
- Monitor all escrow accounts and operating cash accounts to assure they are properly funded
- Review property manager operating expense and CAM reconciliations for accuracy, and provide final approvals to PMs prior to sending out tenant letters
- Collaborate with other departments to improve and document processes and streamline reporting
Leasing
- Manage relationships with leasing brokers, attorneys, and lenders to negotiate lease terms at or above proforma budget
- Review LOI’s and leasing documents
- Draft landlord work letters for leases to be approved by owner
- Review outside broker listing agreements
- Track ROFO’s and ROFR’s of existing tenants
- Work closely with property managers to transition new tenants into properties
R&M and Capital Improvements
- Forecast repair and maintenance budgets and oversee property management to implement a proactive and high-quality maintenance plan
- Develop capital improvement strategies, to be approved by owner, and oversee design and construction management activities
- Monitor construction progress and ensure TI and CapEx projects are closed out
- Negotiate third-party contracts and oversee implementation of capital improvement and “value-add” programs within the portfolio
Candidate Profile
Educational & Professional Experience Requirements
- 4-6 years of commercial real estate experience with a focus on asset management activities including leasing, financing, managing tenant improvements, capital investments, and dispositions
- Experience with urban and suburban office assets
- Bachelor’s Degree in Real Estate, Finance, Accounting or related field
- Knowledge of the Seattle, Portland, Salt Lake City, Denver and Boise markets is particularly useful
Key Skills & Competencies
- In-depth knowledge of real estate finance including commercial lease terms and debt and equity structures
- Able to successfully work in a team-oriented environment and partner with internal colleagues, external suppliers, and cross-functional groups
- Strong analytical, accounting and critical thinking skills
- High comfort level with the technology used to aid in collaboration, communication, and documentation
- Excellent written and oral communication skills
- Advanced knowledge of Excel including building templates for other users. Argus, Yardi and Sharepoint skills strongly preferred
Culture
Our ideal candidate(s) will have a strong compatibility with Heartland culture in terms of intellectual curiosity, team-oriented nature, problem-solving capacity, desire to learn new skills as projects demand, a focus on high-quality work product, and ability to work in a fluid, fast-paced environment.
- High level of integrity
- Proactive self-starter with ability to both take direction and also set own action plan
- Ability to learn and adapt quickly
- Ability to manage multiple competing priorities and meet delivery deadlines
- Ability to work effectively both independently and within teams
- Ability to probe, ask the right questions, and dig beneath the surface to test the validity of information
- Ability to think critically, solve problems and make well-reasoned business decisions
- Strong work ethic
- Interdisciplinary capabilities
- Desire to work with clients
- Superior attention to detail
- Ability to focus on a variety of tasks simultaneously
- Strong self-motivation
- Team orientation
- Flexibility
Other Details
Reporting, Supervisory & Collaboration Responsibilities
- Reports to Senior Asset & Portfolio Manager
- Manages property-level teams, including third-party property managers, leasing brokers, etc.
- Collaborates with internal project teams
- Collaborates with client personnel
Travel
Travel required to appropriately cover the assets and the market.
Compensation
Market appropriate; experience and skills considered, comprehensive benefits package included.
Application Process & Contact Information
Applications shall include the following:
- Cover Letter
- Résumé
Applications should be sent via email to: Carrie Christensen, Project Administrator/Marketing Coordinator cchristensen@htland.com