The Senior Asset Manager will be responsible for overseeing a Territory consisting of a portfolio of net lease retail commercial real estate to maximize the performance and value of the portfolio of assets. The Senior Asset Manager is responsible for formulating and implementing a long-range asset management strategy for all properties within the Territory. The Senior Asset Manager will work closely with the Vice President and Portfolio Manager to ensure the Territory’s strategic plan is implemented and the performance is on target. The Senior Asset Manager will oversee an Asset Manager.
Manage an Asset Manager.
Work with the Vice President and Portfolio Manager to establish long range and short-term Strategic Plan and implement the plans for the properties.
Monitor tenant’s in the portfolio, master leases, corporate-level performance to apply against the owners’ performance criteria.
Negotiate leases, renewals, amendments, sublease agreements, and other real estate documents.
Continuously review and monitor upcoming lease expiration schedule and portfolio performance.
Collaborate on potential development, demising, additional investment, or other opportunities when they arise.
Review easement, condemnation, lease assignment, lease termination or other requests from tenants and government authorities on an as needed basis.
Hire brokers and take responsibility for new and renewal leasing.
Manage brokerage contracts (Landlord and Tenant Representative).
Review and assess property-level financial performance.
Perform other property due diligence as required, including assisting in underwriting and transaction closings.
Perform periodic property site inspections to ensure property performance and maintenance.
Implement marketing plans for current and upcoming vacancies.
Look to VP/SVP 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 with Asset Manager and Analyst on Annual Budget/Reforecasts– make revenue assumptions, work together to develop capital plan (lease required or releasing capital), review expense assumptions.
Develop MLAs to be used in valuations, budgets, and impairment analysis. Have a solid understanding of markets and market trends.
Develop/update valuations on each building annually.
Bachelor’s degree; preferred in Accounting, Finance or Business Management; advanced degree a plus.
10-15 years’ experience within retail commercial real estate, specifically single tenant retail and net leases.
Prior experience as an Asset Manager, Senior Property Manager or Leasing Manager.
Solid exposure to retail or net retail commercial 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.
Strong research and due diligence capabilities.
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, accounting software, database management & reporting.
Internal Number: 2019-1525
About The RMR Group
The RMR Group Inc. is a holding company and substantially all of its business is conducted by its majority-owned subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate related operating companies. As of June 30, 2019, The RMR Group LLC had approximately $30.6 billion of total assets under management, including more than 1,500 properties, and employed nearly 600 real estate professionals in more than 30 offices throughout the United States; the companies managed by The RMR Group LLC collectively had over 50,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts. To learn more about The RMR Group, please visit www.rmrgroup.com.