The position requires the day-to-day responsibility for a portfolio of assets supervised by our client, with the express objective of maximizing property and portfolio value and returns.
Position-specific requirements include hands-on real estate operations, with detailed attention to proactive asset management and value creation. An integral part of the value creation strategies will encompass (re)development; experience with construction, project management, and entitlements is desirable. A comprehensive grasp of financial concepts and methodologies along with a strong working knowledge of Argus and Excel modeling is a must with Yardi knowledge being desirable.
Accompanying responsibilities include increasing technical competency, business plan development, and execution for assets, consultation with senior staff regarding portfolio and policy recommendations, preparation of client reports, selection and monitoring of third-party service providers, and input into investment and client strategies. The position requires extensive internal and external communication, in particular with the CIO, Investment Committee, and third-party service providers in applicable markets.
Asset manage assigned assets
Key Job Elements
Manage a specific portfolio of assigned assets in order to achieve optimal performance in accordance with value creation goals and business plan expectations.
Manage specific assigned properties to achieve or exceed annual Business Plan and client objectives. Achieve leasing, net operating income, cash flow, and capital expenditure targets for assigned assets. Achieve or exceed forecast asset value and return targets. Manage properties with the objective of meeting or exceeding underwriting forecasts as well as meeting or exceeding annual industry index results.
Maintain a comprehensive and current knowledge of all assigned markets and furnish useful market information to CIO and Investment Committee.
Recommend, select, and monitor third-party service providers such as managers, leasing agents, attorneys, contractors, and others as necessary, to achieve required investment performance.
Develop and implement effective management and leasing strategies to achieve investment objectives.
Evaluate, comprise, and execute capital improvement strategies for individual assets.
Monitor the effectiveness of tenant satisfaction and retention programs.
Negotiate property leases for assigned assets consistent with Annual Business Plan and/or underwriting parameters.
Administer or supervise compliance with all lender information, reporting, disclosure, or approval requirements.
Establish and develop strong strategic relationships with real estate and investment industry professionals and organizations including service providers.
Make periodic recommendations for asset disposition or financings for approval by Investment Committee.
Supervise and complete the execution of property sales or finances in accordance with approved parameters and in accordance with policy and procedures.
Continually seek creative and innovative opportunities to enhance value and returns for portfolio assets.
Suggest options to improve the environmental impact of the building.
Inspect assigned portfolio assets 2-3 times per year and provide written inspection reports as required.
OVERALL REQUIREMENT: HANDS-ON REAL ESTATE OPERATING EXPERIENCE AT THE ASSET AND PORTFOLIO LEVELS
Key Job Elements
Prepare required reporting for clients
Complete asset reporting as required by each specific client's plan of operations as well as reporting required by internal procedures.
Complete reports in accordance with the prescribed reporting timeline produced each quarter.
Quarterly, prepare asset valuations in accordance with client requirements and internal valuation procedures.
Present and support values to Investment Committee prior to deadline outlined in the reporting calendar.
File supporting documents as required by policies.
OVERALL REQUIREMENT: COMPREHENSIVE KNOWLEDGE OF FINANCIAL CONCEPTS, ARGUS AND EXCEL
Key Job Elements
Manage the business plan process
Supervise, complete, and obtain approval for each Annual Business Plan for assigned assets consistent with requirements.
Recommend modifications of established plan strategies as dictated by the client, market, or property conditions.
Coordinate the business planning process to ensure delivery to the client in a set time frame.
OVERALL REQUIREMENT: ABILITY TO ANALYZE AND THINK CRITICALLY ABOUT VALUE CREATION STRATEGIES AND THEIR IMPLEMENTATION
Key Job Elements
Review and approve capital/legal invoices
Supervise the completion of and provide for payment of capital projects for assigned assets.
Ensure that all activity is governed by documentation or agreements prepared and reviewed by appropriate professionals.
Provide invoice approval within two days of getting the package to approve.
OVERALL REQUIREMENT: DETAILED PROJECT MANAGEMENT AND PROCESS TRACKING
Participate in the advancement of objectives.
Key Job Elements
Participate in special projects related to the entire firm.
Attend industry conferences.
Assist in portfolio level quarterly reporting as needed
Assist in other ad hoc requests
Actively participate in the development and implementation of initiatives designed to strengthen operations or improve efficiencies.
Attend/participate in appropriate industry conferences.
Participate in organizations committee activities, where possible, to gain knowledge for the firm as well as promote or firm as an organization.
Maintain current knowledge of industry trends and conditions.
Participate in weekly team meetings and Investment Committee meetings.
Prepare special requests as required by other areas or clients in a timely manner.
Demonstrate through actions, the importance of maintaining an environment of compliance with high ethical standards.
Follow and adhere to ethics and compliance policies.
Provide news-worthy details of asset accomplishments for posting on website release when the event occurs.
Be respectful in all interactions with internal and external constituencies.
OVERALL REQUIREMENT: COLLABORATIVE WORK ETHIC WITH AN ACTIVE CURIOSITY AND DESIRE TO GROW PERSONALLY AND PROFESSIONALLY
About Poline Associates
Poline Associates is an international executive search firm specializing in the shopping center industry.We serve property owners, developers, retailers and service providers who are seeking remarkable talent and work to align them with candidates who are eager for new growth opportunities. Since 1979, our team has been connecting companies and candidates with a commitment to integrity and client satisfaction—making us the industry’s most trusted leader in recruitment.