Asset Manager

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Job description

The Asset Manager is primarily responsible for directly overseeing a portfolio of assets while also assisting in the management of the financial performance and business strategy portfolio wide. Asset types would encompass office and retail. Focus of the role is to create value by increasing NOI while mitigating risk. We employ a unique approach to Asset Management requiring very hands-on involvement; intimately involved in the details as well as being able to think and plan strategically.

Detailed Job Functions and Responsibilities:

* Works in a collaborative fashion with third-party property managers, lease administrators, legal counsel, auditors, accountants and architects or engineers as well as in-house development, construction, accounting, and finance groups to oversee his/her own portfolio of properties.
* Works closely with third-party brokers and leasing agents to ensure proactive lease-up and tenant retention, knowledge of respective markets and competing properties, manage and maintain positive tenant relationships, and ensure our assets are most effectively positioned to be the top performers in their respective markets.
* Provides direction and oversight of business plans, budgets, forecasts, leases, analyses and approvals. Coordinates and oversees property managers, construction managers, and TI/Capex projects with our Capital Improvements Manager.
* Monitors and identifies opportunities to increase income while reducing expenses such as appealing real estate tax assessments, utilizing third-party consultants, managing utility expenses and/or increasing recoveries.
* Participates in the creation of annual budgets and multi-year projections which includes a strategic review, comparisons of budget projections to historical performance and comparison of budget projections to Company benchmarks.
* Participates in routine asset reviews and routine, frequent site visits. Performs physical property inspections to ensure properties are being maintained by third party property management at a high level and that there is no deferred maintenance.
* Performs review of monthly financial reports working directly with third-party property managers which includes quarterly review and approval of third-party prepared accrual workbooks and CAM calculations. Reviews and provides updates on monthly fixed asset workbooks from internal portfolio accounting team, bad debt analysis from internal portfolio accounting team, and quarterly income projections from internal finance and portfolio accounting team.
* Conducts routine meetings, site visits, and/or conference calls with property management and leasing to discuss asset-level strategies and operational issues.
* Assists with due diligence process on development projects and may be a member of a development deal team. As part of the development deal team, responsibilities would be to prepare both the revenue and expense sides of a development proforma by compiling market data derived from site visits, local brokerage networks, etc. as well as weighing in on value-add operational issues/strategies. Would take the lead on lease-up of new projects as well as commissioning and transitioning into operations.
* Assists in pre-acquisition input and due diligence including review of financial and operational documentation to include underwriting, structuring and reviewing third-party reports.
* Responsible for portfolio-wide analyses involving coordinating receipt of financial data at the asset level and consolidating that to provide portfolio data, preparing portfolio data for projection and forecasting models working closely with in-house financial analysts.
* In addition to all the duties above, the asset manager must also have industry specific knowledge. The deliberate focus is to increase profitability while maintaining the physical asset. This includes guidelines to third party managers for the financial requirements, including leasing expectations, as well as the property's physical objectives.

Qualifications:

* Bachelor's Degree in Business, Commercial Real Estate, Accounting 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.• Familiarity with commercial leases and ability to comprehend legal language necessary. Prior lease administration experience a plus.• Prior commercial leasing experience and/or real estate certification(s) a plus.• Must possess an entrepreneurial and customer-service driven approach to asset management• Highly developed interpersonal, analytical and communication skills (verbal and written)• Supervisory experience, with proven skills in developing and motivating a team to achieve high performance• Strong organizational, decision-making skills • Proactive thinking with both detail-oriented and higher level creative problem-solving approach, with the ability to step back and understand the "big" picture to meet or exceed department and company-wide objectives• Strong ability to prioritize workload and manage projects effectively• Must maintain a quality work product in a time-sensitive environment, therefore, time management and ability to multi-task is critical• Ability to work independently as well as part of a cohesive team• Advanced Excel and Word skills. Yardi software and VTS software experience a plus• Financial modeling and analytical proficiency required.• Ability to travel as necessary to visit assets for inspections and market tours.

Physical Demands and Work Environment:

* While performing the duties of this job, the employee will regularly work inside an office; however, this position involves periodic outside work with construction site visits, property inspections, tours with lenders, buyers, etc.
* Performance of these duties will require the physical ability to occasionally climb permanent and temporary stairs, passenger use of construction personnel hoists, ability to climb ladders and negotiate work areas under construction. Specific vision abilities required by this job include close vision, peripheral vision, depth perception and the ability to adjust focus. Performing this job will require use of hands to fingers with the ability to handle, or feel objects, sit, talk and hear. It requires the employee to stand, walk, climb, balance, stoop, and kneel.
* Employee may occasionally lift and/or move up to 20 pounds.
* Travel will be required so employee must have a valid driver's license and a good driving record in accordance with Armada Hoffler's Driver Qualification Policy.

Armada Hoffler offers competitive salaries, excellent benefits, and a professional and stimulating work environment. Furthermore, we are an equal opportunity employer and afford equal employment opportunities to employees and applicants without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We provide a smoke-free and drug free workplace and participate in E-verify.

The successful candidate must pass pre-employment and random drug screens, a background check and provide a valid driver's license and good driving record in accordance with Armadda Hoffler's Driver Qualification Policy.