Asset Manager

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Job description

Overview:

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 Territorys 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 tenants 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:

• Bachelors 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, unless they obtain prior approval for an accommodation for medical reasons or due to a sincerely held religious belief or are exempt from this requirement under applicable state or local law. 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 RMRs vaccination policy should contact Diane Proctor, Vice President, Human Resources at .

Company Overview:

The RMR Group LLC, or RMR, is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. It conducts substantially all business for its parent company, The RMR Group Inc. (Nasdaq: RMR). RMRs vertical integration is strengthened by more than 600 real estate professionals in over 30 offices nationwide who manage $32 billion in assets under management and leverage more than 30 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 real estate strategies across its client companies. Recently, RMR has been recognized by The Boston Globe as a Top Place to Work, by Fortune magazine as one of the 100 Fastest Growing Companies, by the Environmental Protection Agency (EPA) as an ENERGY STAR Partner of the Year, by Boston Business Journal as the Fastest Growing Middle Market Company in Massachusetts and ranked 9th on Commercial Property Executives Top Commercial Property Management Companies. RMR is headquartered in Newton, MA and was founded in 1986. For more information, please visit . Follow RMR on LinkedIn and on