Overview:

  • Assume day-to day asset management related responsibilities working directly with members of senior management, finance, accounting, leasing, operations, legal and construction teams.
  • Establish one point of contact for asset information, oversight, and decision-making, with the support of senior management.
  • Enhance/implement process for tracking asset performance and providing institutional level reporting to the investors on a quarterly and annual basis.
  • Primary contact for communication/approvals with lenders and equity partners, as required.
  • Analyze and provide recommendations on investment and operational decisions such as lease negotiations, property capitalization strategies, property sales strategies, and capital improvement programs.
  • Implement strategies to maximize the financial performance of the assigned assets.
  • Coordinate, approve and present annual property budgets and forecasts.
  • Monitor overall performance of assigned assets against established goals and approved budgets.
  • Complete financial analyses of prospective leasing deals, maintain property Argus files and coordinate lease administration communication flows on assigned assets.
  • Complete annual mark-to-market valuation of the portfolio to determine buy/sell/hold recommendation and forecast investor returns.

 

Operations

  • Work with property managers and responsible parties on:
    • Preparation of annual budgets and business plans for each asset and pool of assets.
    • Expense analysis relating to real estate tax appeals, energy conservation, insurance, cleaning, security, etc.
    • Establish property capital needs and corresponding costs, and evaluate the impact to cash flows/shortfalls. Oversee implementation and necessary funding.
  • Work with accounting team to track funding/completion of capital expenditures and tenant improvement projects.
  • Analyze Monthly/Annual Budget vs. Actual individual property and portfolio results:
    • Track positive or negative trends and potential issues
    • Oversee waterfalls and distributions to investors.
    • Continually monitor rollover exposure for effects on value.
  • Reinforce lines of communication between property management and senior management to facilitate respective responsibilities, current processes and contribute/assist where possible.
  • Create and maintain annual distribution budgets, and track quarterly distributions and provide a detailed explanation of variance as applicable.

 

Commercial Leasing:

  • Communication with in-house Leasing Managers and agents- attend weekly in-house leasing meetings, as well as periodical third party leasing agent meetings.
  • In conjunction with in-house leasing team:
    • Establish financial leasing guidelines (term, rate, TIs, LCs) and ensure that prospective lease deals are in-line with projections/underwriting.
    • Establish leasing assumptions for annual budgets.
    • Review/Analyze lease proposals with Excel or Argus to understand the effect on value.
  • Continued oversight of lease approvals and the process.
  • Directly communicate with lenders and equity partners if lease approval is required.
  • Ensure proposed lease approvals or rejections occur in a timely fashion.
  • Maintain general knowledge of local market conditions and competition.

 

Acquisitions/Dispositions/Financing

  • Partner with Capital Markets team on the refinancing and recapitalization of assets with the support of the finance team.
  • Track assets and sub-portfolios looking for disposition and financing opportunities.
  • Prepare Hold/Sell Analysis.
  • Lead efforts with Capital Markets team on loan/partnership restructurings.

 

Reporting

  • Work with Operations/Accounting to provide a roll-up of monthly financial results for the portfolio.
  • Prepare investor reporting and detail performance/trends/highlights.
  • Monitor assets with current/potential risk issues.
  • Prepare Hold/Sell Analysis – provide guidance for assets on potential dispositions or other significant capital events.
  • Prepare Annual Business Plans.
  • Maintain portfolio debt schedule and monitor loan expirations in order to manage upcoming maturities and mitigate financing-related risks.
  • Lead investor calls and meetings.
  • Provide financial support for company semi-annual board meetings.

 

Valuations

  • Prepare annual mark-to-market asset valuations for possible dispositions/refinancing/capital infusion decisions.
  • Provide a summary of market valuations – assumptions; period to period comparisons
  • Point of contact for communication to any third-party appraisers, providing required information and reviewing draft appraisals.

Qualifications

  • Asset Management experience in office and multi-family product in the greater Philadelphia market preferred.
  • Currently living in Philadelphia MSA preferred.
  • Strong quantitative skills and financial analysis experience.
  • Excellent financial and analytic skills and be demonstrated proficiency with financial modeling.  Ability to use Excel spreadsheets and Argus to perform return analysis of potential deals/investments. Knowledge of real estate valuation principles and techniques, as they relate to the acquisition, renovation, disposition, and financing of real estate assets would be helpful.
  • Excellent attention to detail.
  • Reasoning Ability:  Define problems, collect data, establish facts, and draw valid conclusions.
  • Communication Skills: Proven written, verbal, and interpersonal communication skills.
  • Proficiency in ARGUS, MS Word, Excel, and database applications.
  • Ability to work successfully as an individual and on a team.
  • Experience interacting with lenders and institutional equity investors preferred.
  • Expertise in transaction analysis and transaction negotiation/documentation. Proven effective negotiation skills.

Education

  • Bachelor’s Degree in finance, business administration or other related field required.

 

Experience

  • Minimum 5-7 years real estate experience.

 

Physical Requirements

  • Requires prolonged sitting or standing.
  • Requires frequent operation of office equipment, such as a computer, copy machine, telephone, etc.
  • Occasional stretching and/or bending to access file cabinets, office equipment, etc.
  • Occasional standing and walking required.

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