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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