About the Role:The Asset Management Associate is responsible for developing a strong understanding of assets and business plans for the portfolio including knowledge of leases, loan documents, partnership agreements, and other related agreements.
Responsibilities:- Direct and oversee the work of an Asset Management Analyst.
- Perform a wide range of analyses including: dispositions, refinancing analyses, valuations, sell/hold analyses, leasing NPV/NER, and other ad hoc analyses.
- Understands loans and debt structure, transactional documents and processes and management agreements.
- Lead monthly Joint Venture Partner calls and ad hoc calls/meetings.
- Analyze operating budgets, capital plans and reforecasts. Provide variance commentary to original business plan.
- Monitor property performance throughout the redevelopment cycle in support of critical capital market events.
- Review monthly financial reports, perform variance analysis, identify and report trends, red flags, etc.
- Create, implement, and maintain various reports tracking property operations and performance across all vertical departments.
- Develop and maintain sophisticated dashboards, financial models, templates and analyses to monitor assets relative to each business plan and budget.
- Respond to Lender, JV Partner or Senior Management requests relating to asset performance and statuses. Review Lender covenant calculations for accuracy and input.
- Prepare and update monthly cash flow forecasts with new/updated property and portfolio level information.
- Evaluate and determine monthly distributions and/or capital calls for Senior Management and JV Partner approval.
- Prepare materials for partner meetings.
- Evaluate and facilitate loan advance or escrow draw requests.
- Organize, oversee and review the annual property operating budgets and business plans for portfolio.
- Integral team member in rolling up asset and portfolio budget metrics to guide business plan.
- Work with and through various vertical departments for budget approval internally and lead JV Partner approval process for assigned assets.
Soft Skills/Behaviors:- Ability to collaborate with all departments to accomplish the team's objectives in a growing portfolio.
- Well developed and effective communication and interpersonal skills.
- Ability to persuade and influence in order to get all parties' buy in.
- Hands-on and ready to pitch in on whatever is needed.
- Service first attitude.
- Proactive, energetic with a creative disposition.
- Problem solver and resourceful.
- High sense of urgency.
Technical Skills:- College degree in business or finance with related real estate experience.
- 3-6 years of experience with an understanding of retail asset types.
- Strong skills in financial analysis and modeling - experience with Argus REQUIRED.
- Advanced Excel skills.
The expected salary range for this position is between $100,000 and $120,000. The actual compensation will be based on factors such as scope and responsibilities of the position, candidate's work experience, education/training, job-related skills, internal peer equity, market and business considerations and other factors permitted by law.
