Description
The Asset Manager will be responsible for overseeing a Territory consisting of a portfolio of commercial real estate to maximize the performance and value of the portfolio of assets. The Asset Manager is responsible for formulating and implementing a long-range asset management strategy for all properties within the Territory. The Asset Manager will work closely with the Portfolio Manager and the Property Management team to ensure the Territory’s strategic plan is implemented and the performance is on target.
Responsibilities
- Work with the Portfolio Manager to establish long range and short term Strategic Plan, and implement the plans for the properties within the Territory.
- Track properties’ occupancy, expenses, cash flow, and capital to understand how they are performing against budget.
- Perform periodic property site inspections to ensure property performance and maintenance.
- Implement marketing plans and continuously monitor/adjust. Manage marketing materials, CoStar, etc.
- Work with the Property Management team to hire brokers and take responsibility for new and renewal leasing.
- Manage brokerage contracts (Landlord and Tenant Representative)
- Consult with Property Management on a daily basis:
- Plan/attend broker open houses
- Attend Market events (broker overviews, market recaps, industry events)
- Regular review of capital improvements
- Quarterly building/market tours
- Tenant issue resolution
- Look to Senior Asset Manager/VP for guidance on complex transactions.
- Review tenant prospect financial statements – make security deposit recommendations to Portfolio Manager/VP.
- Review existing tenant’s financial statements, as allowed under lease terms, to understand strength of existing tenants.
- Work closely/direct Property Manager on Annual Budget/Reforecasts– make revenue assumptions, work together to develop Capital/One Time Expense Plan, review expense assumptions.
- Develop MLAs to be used in valuations, budgets, and impairment analysis. Have a solid understanding of markets and market trends.
- Monitor capital improvements.
- Develop/update valuations on each building in the Territory quarterly.
- Work with accounting on impairment analysis.
Qualifications
- Bachelor’s degree; preferred in Accounting, Finance or Business Management; advanced degree a plus.
- 7-12 years’ experience within commercial real estate.
- Prior experience as an Asset Manager, Sr. Property Manager or Leasing Manager.
- Solid exposure to commercial office, industrial and MOB leases.
- Strong analytical skills and experience in financial analysis.
- Exceptional organizational and follow-up skills required along with the ability to multi-task and bring individual issues to timely closure.
- Excellent written and oral communication skills.
- Ability to work in a fast-paced, team centered, results-driven environment.
- Proficiency with Microsoft Office products, ARGUS Enterprise or DCF, accounting software, database management & reporting.
- RMR considers the safety of its employees a top priority. As part of this commitment, RMR requires all new employees to be fully vaccinated against COVID-19. Qualified candidates who are offered the opportunity to join RMR will be required to provide proof of vaccination prior to the first day of work. Applicants who need additional information concerning RMR’s vaccination policy should contact Diane Proctor, Vice President, Human Resources.
Company Overview
The RMR Group (Nasdaq: RMR) is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. RMR’s vertical integration is supported by nearly 600 real estate professionals in over 30 offices nationwide who manage over $33 billion in assets under management and leverage 35 years of institutional experience in buying, selling, financing and operating CRE. RMR benefits from a scalable platform, a deep and experienced management team and a diversity of direct real estate strategies across its clients.
RMR’s mission is to create long term value for our clients by managing their investments and assets “like we own it” – an approach that consistently and repeatedly generates opportunities for all our employees, investors and stakeholders. We are guided by six core values:
- Integrity at Our Core.
- Perform Passionately and Effectively.
- Inspired Thinking.
- Like We Own It.
- Power of We.
- Mutual Respect.
RMR has been rated a Top Place to Work by The Boston Globe and GlobeSt.com, and has been recognized by the U.S. Environmental Protection Agency (EPA), the Building Owners and Managers Association (BOMA) International and the Institute of Real Estate Management (IREM), among others, as a CRE industry leader.
The RMR Group is an equal opportunity employer. Qualified applications will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.
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