Director of Asset Management & Leasing

RESPONSIBILITIES

·         Develop relationships with key tenants in the portfolio to promote accretive lease expansions, extensions, and other new opportunities. Establish consistent communications with key tenants, and regularly report on progress/intel from such interactions. 

·         Mentor the other Asset Managers on leasing strategies for the properties in their portfolios in an effort to enhance the company-wide portfolio occupancy.

·         Assist the Acquisitions Team with underwriting and vetting of key assumptions (e.g., lease rates, absorption velocity, tenant improvement funds, and CapX needs) on properties that may transition into the RCS portfolio.

·         Assist the Acquisitions Team and other asset managers in finding and vetting property management and leasing teams to manage/lease onboarded acquisitions.

·         Work independently to hire and manage 3^rd party relationships for the property (i.e., leasing and property management)

·         Review and approve all 3^rd party vendor contracts for your portfolio.

·         Analyze, negotiate and approve all prospective new and renewal leases for your portfolio – and be involved in select, larger new and renewal leases with other Asset Managers on the RCS team.

·         Establish long- and short-term goals for each property in your portfolio to maximize investment returns.

·         Track the properties’ occupancy, cash flow, expenses and pending capital items to maximize overall performance of each property.

·         Perform periodic property site inspections to ensure property performance and high standards of property management and maintenance.

·         Help to coordinate the financing and refinancing processes for the portfolio and work with lenders on an on-going basis to answer questions and get necessary approvals (e.g., on leasing, capital expenditures and loan draws).

·         Work with Accounting Manager to ensure that all appropriate loan draw requests are made to lenders.

·         Work with property managers, leasing agents and accountants to create annual budgets for each property.

·         Review cash flow and variance reports monthly and report any positive/negative trends to Ownership on a quarterly basis

·         Prepare quarterly update reports for outside investors.

·         Prepare semi-annual Senior Management and Advisory Board summary reports on properties in the portfolio.

·         Prepare/update annual strategic/business plans for each property.  Review the Business Plans for select other properties in the RCS portfolio and recommend strategy updates as needed.

·         Work with Finance Department to complete project reforecasts of prospective returns on a semi-annual basis.

·         Manage the asset sale process when necessary for buildings in your portfolio (typically utilizing outside brokerage firms) – this includes obtaining BOV’s (broker opinions of value), analyzing the returns at prospective prices and making recommendation to ownership, negotiating the listing agreement and the LOI’s and working with in-house counsel to execute a contract and work toward closing.

·         Assist in mentoring and training the team’s Asset Managers in all facets of their responsibilities, and in some cases, take on leadership over more complex endeavors facing the junior asset management staff.

·         Jointly with the SVP and Director of AM, lead efforts to create, improve, refine, and utilize the department’s processes and procedures, including ones that integrate efforts with other departments.

·         Create agendas for (and help lead) inter-departmental meetings.

·         Assist the SVP of AM and COO in presentations and verbal communications to RCS’s ownership and outside investors.

·         Assist Asset Management Department with implementing new programs and software being explored or mandated by IT and/or Business Administration departments.

·         Jointly with the SVP of AM, act as a liaison and administrator with 3^rd party vendors providing services portfolio and department wide.

QUALIFICATIONS

·         Bachelor’s degree in business, finance, economics or related field (and/or a commensurate level of work experience in the commercial real estate arena)

·         Minimum 10+ years of experience as a leasing manager, asset or portfolio manager and/or commercial analyst with emphasis office properties.

·         Proficient in MS Excel, MS Word, Power Point at a minimum, Argus a plus.

·         Ability to analyze and compare prospective leasing deals based on Net Effective Rent. 

·         Excellent communication skills, both written and verbal.

·         Proven organizational skills with attention to details.

·         Excellent interpersonal skills with a professional and dynamic demeanor.

·         Intrinsically motivated and creative.

·         Skilled as a mentor to help train more junior asset managers.

·         Ability to lead meetings and spearhead inter-departmental processes and procedures.