Director, Asset Management
Valid8 Financial, Inc., Washington, District of Columbia, us, 20022
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
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
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 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 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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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
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
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 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 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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