CRCBR Job Posting - Lead Asset Manager
Job Title:
Lead Asset Manager
Organization:
INLIVIAN f.k.a. Charlotte Housing Authority
Location:
Charlotte, NC
Description:
The Lead Asset Manager is responsible for managing all processes related to maximizing the value and return on investment of the Horizon Development Properties (the “Company” or “HDP”) portfolio. This includes finding the highest and most consistent sources of revenue, reducing expenditures whenever possible and working with other departments in the agency to manage risk, among other things. The Lead Asset Manager acts as an owner of the investment properties in the HDP portfolio and looks out for HDP’s best interests. They are proficient in repositioning a property and streamlining operations to reduce expenses, increase income and improve property value. They are responsible for the creation and implementation of the general strategy of the asset. This position deals with strategic and important issues related to a property. They understand real estate as an investment. Real estate asset management needs strategic thought and execution so as to actively enhance the value and cash flow of the assets and this position will lead those efforts.
Responsibilities:
- Manages and leads the Company’s diverse real estate lease portfolio and initiatives
- Responsible for conducting market and demographic research, as well as leading site selection and property tours with teams of investors and lenders and third-party service providers
- Prepares market and initial site analysis, including trends, competition reports, and general site information
- Prepares operating proformas and performs financial analysis to support lease and development program recommendations. Works to maximize total return from a project.
- Develops and analyzes budgets and financial information for new locations, including Profitability Index (PI) and Shareholder Value Added (SVA) analysis. Manages cash flow long term.
- Negotiates all terms of a lease contract with development partners prior to a financial closing and, on-going, with internal legal team to edit lease agreements and necessary legal documents
- Assists development staff in the review and negotiation of Operating and Limited Partner Agreements for new development
- Ensures lease obligations are fulfilled, reporting requirements are met, documentation is correct and complete and Company issues are resolved timely
- Builds and directs a team of external consultants to complete Physical Conditions Need Assessment (PCNA) and assists EVP and SVP of Development in recommendations for the development pipeline based on the PCNA and Company strategies with respect to real estate activities and management
- Manages real estate location inquiries, suggestions, and requests regarding prospective locations as assigned
- Regularly and efficiently communicates with all parties involved in a project (i.e., private developer partners, sponsor, stakeholders, investors, state housing finance agency, city, development team members, etc.)
- Communicates resource shortfalls to EVP of Real Estate Development in a timely manner
- Works to establish and maintain relationships with developers, investors, debt providers, the state housing finance agency, city and other key stakeholders
- Reviews budgets, accounting books and records for all apartments and properties in the Company portfolio
- Coordinates with development staff and attorneys on purchases of new assets
- Monitors all leasing activity to insure maximum occupancy and income
- Responsible for hiring and monitoring the 3rd party property management companies, as well as monitoring the internal affiliate property management company
- Renders assistance during acquisition and disposition of properties as well as assists in the development of the capital needs of the Company assets
- Models a full lifecycle financial analysis for projects/assets in the portfolio.
Education and Experience:
A minimum of a Bachelor’s degree preferably in Finance, Accounting, Business, Marketing, or Real Estate. Possessing a Bachelor’s degree and real estate experience can be substituted on a per applicant basis.
Knowledge and Skills:
- Knowledge: Extensive understanding of real estate, with a proven track record of successful real estate transactions across multiple property types is essential
- Current knowledge of industry trends in real estate and development, and a natural desire to understand specific market characteristics; experience of commercial real estate analysis/asset management experience with an emphasis in office and industrial properties may be required. Experience in property management/leasing/operations is desirable; and finance or accounting experience may be required
- Computer skills: Advance knowledge of Microsoft Office software, including Word, Excel, Projects, and Outlook are required
- Entrepreneurial spirit: It is essential for asset managers to be entrepreneurial since many of the activities involved, such as negotiations, approvals and lease analysis, require that risks be assumed and forecasts made
- Strong analytical skills: This skill is essential for evaluating and completing a wide range of real estate transactions
- Communication skills: To successfully perform the duties of a real estate asset manager, they must possess strong verbal and written communication skills
- Interpersonal skills: This is required for establishing and building and maintaining relationship with relevant parties (management, investors, property managers, landlords, etc.)
- Strong organizational skills: It is essential for real estate asset managers to effectively coordinate and manage multiple assignments, as well as prioritize tasks and efforts
- Negotiation skills: Highly developed negotiation skills is required for negotiations with property owners, investors, and significant others.
Salary/Benefits:
$75,000-$80,000 with competitive benefit health and wellness package
Learn More and Apply:
http://inlivian.com/careers/
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