Commercial Real Estate Portfolio Manager

1 week ago

Wilmington, Delaware, United States Keller Augusta Full time
Job Title: Commercial Real Estate Asset Manager

Keller Augusta is seeking a highly skilled Commercial Real Estate Asset Manager to join our team. As a key member of our asset management team, you will be responsible for the day-to-day financial management of our office properties portfolio in the Philadelphia MSA.

Key Responsibilities:
  • Assume day-to-day asset management responsibilities, working closely with senior management, finance, accounting, leasing, operations, legal, and construction teams.
  • Establish a single point of contact for asset information, oversight, and decision-making, with the support of senior management.
  • Enhance and implement processes for tracking asset performance and providing institutional-level reporting to investors on a quarterly and annual basis.
  • Primary contact for communication and approvals with lenders and equity partners, as required.
  • Analyze and provide recommendations on investment and operational decisions, such as lease negotiations, property capitalization strategies, property sales strategies, and capital improvement programs.
  • Implement strategies to maximize the financial performance of assigned assets.
  • Coordinate, approve, and present annual property budgets and forecasts.
  • Monitor overall performance of assigned assets against established goals and approved budgets.
  • Complete financial analyses of prospective leasing deals, maintain property Argus files, and coordinate lease administration communication flows on assigned assets.
  • Complete annual mark-to-market valuation of the portfolio to determine buy/sell/hold recommendations and forecast investor returns.
Operations:
  • Preparation of annual budgets and business plans for each asset and pool of assets.
  • Expense analysis relating to real estate tax appeals, energy conservation, insurance, cleaning, security, etc.
  • Establish property capital needs and corresponding costs, and evaluate the impact on cash flows/shortfalls. Oversee implementation and necessary funding.
  • Work with the accounting team to track funding/completion of capital expenditures and tenant improvement projects.
  • Analyze monthly/annual budget vs. actual individual property and portfolio results.
  • Track positive or negative trends and potential issues.
  • Oversee waterfalls and distributions to investors.
  • Continually monitor rollover exposure for effects on value.
  • Reinforce lines of communication between property management and senior management to facilitate respective responsibilities, current processes, and contribute/assist where possible.
  • Create and maintain annual distribution budgets and track quarterly distributions and provide detailed explanations of variance as applicable.
Commercial Leasing:
  • Communication with in-house leasing managers and agents- attend weekly in-house leasing meetings, as well as periodical third-party leasing agent meetings.
  • In conjunction with in-house leasing teams:
  • Establish financial leasing guidelines (term, rate, TIs, LCs) and ensure that prospective lease deals are in-line with projections/underwriting.
  • Establish leasing assumptions for annual budgets.
  • Review/analyze lease proposals with Excel or Argus to understand the effect on value.
  • Continued oversight of lease approvals and the process.
  • Directly communicate with lenders and equity partners if lease approval is required.
  • Ensure proposed lease approvals or rejections occur in a timely fashion.
  • Maintain general knowledge of local market conditions and competition.
Acquisitions/Dispositions/Financing:
  • Partner with the Capital Markets team on the refinancing and recapitalization of assets with the support of the finance team.
  • Track assets and sub-portfolios looking for disposition and financing opportunities.
  • Prepare Hold/Sell Analysis.
  • Lead efforts with the Capital Markets team on loan/partnership restructurings.
Reporting:
  • Work with Operations/Accounting to provide a roll-up of monthly financial results for the portfolio.
  • Prepare investor reporting and detail performance/trends/highlights.
  • Monitor assets with current/potential risk issues.
  • Prepare Hold/Sell Analysis - provide guidance for assets on potential dispositions or other significant capital events.
  • Prepare Annual Business Plans.
  • Maintain portfolio debt schedule and monitor loan expirations in order to manage upcoming maturities and mitigate financing-related risks.
  • Lead investor calls and meetings.
  • Provide financial support for company semi-annual board meetings.
Valuations:
  • Prepare annual mark-to-market asset valuations for possible dispositions/refinancing/capital infusion decisions.
  • Provide summary of market valuations - assumptions; period to period comparisons.
  • Point of contact for communication to any third-party appraisers, providing required information and reviewing draft appraisals.

Requirements:

  • Bachelor's degree in finance, business administration, or other related field required.
  • Minimum 5-7 years real estate experience.
  • Requires prolonged sitting or standing.
  • Requires frequent operation of office equipment, such as a computer, copy machine, telephone, etc.
  • Occasional stretching and/or bending to access file cabinets, office equipment, etc.
  • Occasional standing and walking required.

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