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B

Commercial Asset Manager

bisnow · 30+ days ago

Virginia Beach, Virginia

$79k+
Estimation

Full-time

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Our SelectLeaders client is a vertically-integrated, self-managed real estate investment trust (REIT) with over 40 years of experience in developing, building, acquiring, and managing high-quality office, retail, and multifamily properties, primarily located in the Mid-Atlantic and Southeastern United States. They also offers general construction and development services to third-party clients, in addition to developing and building properties for its own portfolio. They are headquartered in Virginia Beach.

This position oversees a portfolio of commercial office and retail assets, focusing on enhancing financial performance and implementing business strategies. The primary goal is to create value by increasing Net Operating Income (NOI) while mitigating risks. A hands-on approach to asset management is essential, requiring close involvement in details along with strategic planning capabilities.

Responsibilities

Collaborates with third-party property managers, lease administrators, legal counsel, auditors, accountants and architects or engineers and internal teams to oversee a portfolio of commercial properties.
Works with brokers and leasing agents to ensure proactive lease-up, tenant retention, market knowledge and maintains positive tenant relationships to ensure our assets are positioned to be the top performers in their respective markets.
Directs and oversees business plans, budgets, forecasts, lease document variations, analyses (including credit, lease accounting and abstracting), and approvals. Coordinates and oversees property managers, construction managers, and TI/Capex projects with our Capital Improvements Manager.
May supervise internal and/or external teams, to ensure quality work and adherence to processes.
Identifies income enhancement opportunities and cost reductions such as appealing real estate tax assessments, and managing utility expenses and/or increasing recoveries.
Participates in creating annual budgets and multi-year projections, comparing them to historical performance and Company benchmarks.
Conducts asset reviews and property inspections by visiting sites on a routine basis. proper property maintenance by third-party management companies.
Reviews monthly financial reports and coordinates with third-party property on accruals and CAM calculations.
"Receives and reviews monthly fixed asset reports from the internal portfolio accounting team, analyzes bad debt trends from the same team, and provides updates on quarterly income projections provided by the internal finance and portfolio accounting teams."
Conducts asset reviews and physical inspections with property management and leasing to discuss asset-level strategies and operational issues.
Assists in the due diligence process for development projects, including preparing financial projections and value-add strategies. As a member of the development deal team, will prepare the revenue and expense sides of a development proforma by compiling market data derived from site visits, local brokerage networks, etc. and providing insights on value-add operational issues/strategies. Will take the lead on lease-up of new projects as well as commissioning and transitioning into operations.
Contributes to pre-acquisition due diligence and reviews of financial documents and third-party reports.
Responsible for portfolio-wide financial analyses and prepares data for projections and forecasting models .
Identifies process improvement opportunities and implements new policies and procedures as needed.

Qualifications

Bachelor's Degree in Business, Real Estate, or Finance.
5+ years of commercial real estate asset management or senior-level regional or property management experience in office and retail segments.
Strong experience in commercial real estate leasing/brokerage, operations, acquisitions, and valuation processes.
Financial modeling and analytical proficiency.
Must possess an entrepreneurial and customer-service driven approach to asset management.
Highly developed interpersonal, analytical and communication skills (verbal and written)
Supervisory experience a plus.
Strong organizational, decision-making skills.
Proactive with detail-oriented and creative problem-solving approach, and understanding the “big” picture.
Strong ability to prioritize workload and manage projects effectively in a time sensitive environment.
Advanced Excel and Word skills. Yardi software and VTS software experience a plus
Ability to flex and adapt work schedule to changing business demands.
Ability to travel as necessary to visit assets for inspections and market tours.
Demonstrate integrity and honesty and model ethical behavior and core values of the company- Quality, Service, Flexibility, and Integrity.

Compensation includes a comprehensive benefits package with relocation support for qualified candidates.

•

Last updated on Jan 17, 2025

About the company

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bisnow

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