Director, Asset Management

Organization Background

Easterly Government Properties, Inc. ("Easterly" or the "Company") is a publicly traded Real Estate Investment Trust (REIT) focused primarily on the acquisition, development and management of Class A commercial properties that are leased to U.S. Government agencies.

Primary Duties and Responsibility

General

• The Director of Asset Management is responsible for the overall operational and financial performance of their assigned portfolio of assets
• Works collaboratively with the Head of Asset Management Operations (direct supervisor) to achieve corporate asset management financial objectives and deliver value to shareholders
• Ensures operational compliance with SEC, Sarbanes-Oxley, and REIT regulations
• As required, coordinates and assists other departments, including Accounting, Acquisitions, Development, and Corporate Finance in support of their operations to achieve corporate objectives

Asset-Level Strategic Planning

• With general oversight from the Head of Asset Management Operations, develop and achieve strategic asset business plan goals for assigned portfolio of assets by:
  • Optimizing building system performance
  • Controlling operating expenses
  • Forecasting revenue streams in accordance with lease terms
  • Analyzing and evaluating all leasing / releasing activities
  • Developing capital plans for all building systems and equipment
• Annually, develop 5-year operating budgets supporting optimized building operations
• Create and maintain 5-year capital plans tracking contractual and general maintenance requirements to ensure long-term health and performance of assigned portfolio
• Prepare budget reforecasts, as required, to support corporate finance objectives
• Prepare detailed financial analyses to support recommendations to Senior Management on significant operational issues, capital expenditures, leasing activities, or other strategic initiatives

Asset Operations

• On-board and manage lease novation process for newly acquired / constructed assets
• Responsible for all aspects of lease administration, including, but not limited to:
  • Maintain compliance with all lease terms
  • Ensure accurate and timely revenue collections
  • Cultivate positive, long-term relationships with all tenant points of contact
  • Maintain internal electronic lease files and abstracts
  • Manage tenant disputes and claims
• Responsible for all aspects of building operations, including, but not limited to:
  • Conduct periodic physical inspections of portfolio
  • Ensure optimal building system performance
  • Contract and oversee on-site personnel, such as property managers (internal and third-party), building engineers and vendors, in the operations of the building
  • Collaborate with on-site personnel to troubleshoot issues and determine the best solution to resolve the issue
  • Manage expenses in accordance with approved operating budgets
  • Execute approved capital reinvestment projects
  • Maintain compliance with all property-level loan covenants and restrictions
  • Oversee all matters related to real estate taxes and appeals
• Support the Vice President of Leasing in the pursuit of all leasing activities within portfolio
• Serve as project management executive for lease renewal tenant improvement and reimbursable projects:
  • Assemble project delivery team, including architects, general contractors, and any other required vendors
  • Negotiate pricing and contracts for construction services
  • Review, provide guidance, and approve architectural and mechanical plans
  • Ensure all projects are completed on-time and on-budget

Financial Reporting

• Weekly, provide portfolio overview of activities to Senior Management to review any new or ongoing issues that require Senior Management attention
• Monthly, report to Senior Management on property level financial performance, with comparative analyses to budget, pro forma, previous operating history, and any other metrics as requested by Senior Management
• Monthly, report to Senior Management on the status of tenant reimbursable projects and approved capital projects
• Periodically, coordinate with Property Accounting on month-end closing activities, to include invoice approvals, expense accruals, variance reporting, etc.
• Periodically, coordinate with the Finance and Operations team to create and review the analyses that support the quarterly earnings model
• Meet reporting requirements for property level loans, to include providing financial statements, rent rolls and other reports as required

Acquisitions and Dispositions

• As requested, participate in due diligence review of potential acquisitions with particular attention to assumptions regarding operations and operating expenses
• Review and recommend property managers and/or leasing agents for new acquisitions
• Onboard acquired properties into the portfolio, including development of initial operating and capital budgets and completion of lease novation
• Assist Senior Management by identifying properties for disposition and preparing due diligence packages for properties slated for disposition

Required Skills / Qualifications

• Undergraduate degree, additional education preferred
• 8 to 10 years of commercial real estate property / asset management, accounting, or analytical experience
• Strong understanding of basic commercial real estate concepts and valuation techniques
• Strong project management skills
• Excellent verbal and written communication skills
• Excellent planning, organization, and interpersonal skills
• Ability to function independently within a collaborative, team-oriented setting
• Attention to detail and ability to function under tight deadlines
• Ability to work accurately and efficiently
• Ability to handle multiple projects at one time
• Strong sense of personal motivation and responsibility
• Ability to clear GSA NACI & FBI LBI background checks

Desired Skills / Qualifications

• Experience preparing commercial real estate operating and capital investment budgets
• Experience managing teams of peers and subordinates
• Intermediate experience using Microsoft Excel
• Experience using Yardi

An Equal Opportunity Employer

The salary for this position is $135,000 up to $155,000 per year, commensurate with experience.

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