Serac Capital Partners is looking for an Experienced Asset Manager to join its team. At Serac, asset management is a hands-on function that begins by working with acquisitions during the underwriting and due diligence phases. The Asset Manager is expected to actively engage with tenants, leasing brokers (landlord and tenant rep), and onsite management, and regularly evaluate and direct property operations in person at the property. Each member of the asset management and acquisition teams participates in Serac’s long-term incentive compensation plan that is based on each property’s performance.
An Asset Manager at Serac is expected to know both finance and property operations. Intellectual curiosity and an entrepreneurial spirit are a must to be part of the Serac team. Serac is a small shop that is experiencing significant growth. For the first 12 months, this position will play an active role on the acquisition team and the asset management team. Thereafter, this position will transition to primarily asset management. At Serac, acquisitions and asset management are connected from cradle to grave.
Serac operates in 12 Sunbelt markets and acquires properties in four asset classes: office, neighborhood retail, multitenant industrial/flex, and multifamily. Experience in all four asset classes is not required.
Oversee all aspects of property operations for assigned properties.
Establish, maintain, and expand relationships with existing and prospective tenants. At Serac, tenant relationship building is shared with leasing and property management, not outsourced to them.
Lease vacant space. While leasing is the responsibility of leasing agents, the Asset Manager should consider himself/herself part of the leasing team and responsible for driving leasing: meet with tenant rep brokers, tour buildings of prospective tenants, participate in key prospective tenant building tours, etc. Of course, leasing also includes analyzing lease proposals, performing economic analyses, negotiating leases, etc.
Execute capital plans. Like leasing, the day-to-day of capital projects is carried out by others. At Serac, Asset Managers drive this process by understanding the needs at the property, meeting/strategizing with the construction management team, meeting with contractors when necessary, and knowing when to call an audible to find a better way forward. Be prepared to get your hands dirty.
Make decisions and be coachable. The Asset Manager must be prepared to make decisions to get things done. Serac’s business is acquisitions, investor relations, and asset management. Serac’s senior team is involved in all three. Be prepared to learn from their experience.
Know assigned properties inside and out.
Know market areas. Review market reports from multiple sources, drive markets, walk competitive buildings, walk non-competitive buildings, tour precedent-setting properties, etc.
Review monthly reporting packages prepared by property accounting and evaluate KPI.
Update and present quarterly property dashboards.
Prepare quarterly investor reporting packages and address investor questions.
Prepare lender reporting packages.
If something relates to an assigned property, the Asset Manager is responsible for it. The Asset Manager is part of the Serac team and is supported by the Serac team. Serac wins and loses as a team.
Required: Seven plus years of asset management, acquisition, development, or property related experience. We will teach you a lot, but we cannot teach you everything. Non-compliant résumés WILL NOT be considered.
Required: Undergraduate degree, preferably in Business, Finance, Accounting, Real Estate, Engineering, or Construction.
Required: Strong knowledge of Excel and a good understanding of Argus.
Exceptional written and verbal communication skills, including ability to articulate recommendations in concise and timely manner.
Spanish/English speaking is a strong plus.
Advanced degree and/or professional designation is a plus.