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The Robert Toigo Foundation

Asset Manager

Heartland LLC
Published
January 18, 2024
Location
801 2nd Avenue, Suite 614, Seattle, WA 98104, Washington
Category
Job Type
Salary
$125,000-$175,000 per year
City
Seattle
State
  • Washington

Description

Asset Manager Opportunity Overview

We love what we do. We love real estate. We love supporting organizations, companies and families. We love creating multiple levels of value and positively influencing the future. Do you?

The Asset Manager role is an opportunity to:

  • Manage a portfolio of high-quality office and multifamily assets on behalf of an affiliated company.
  • Develop and lead the implementation of business strategies for each asset.
  • Assist continued growth of a third-party Asset Management business line.
  • Assist leading and growing a team with a leadership role in various aspects of the asset management functions.

POSITION DESCRIPTION

The Asset Manager will be responsible for actively managing a portfolio of office and mixed-use assets to develop strategy, optimize cash flow, and enhance value.

Business Planning, Strategy, and Transaction Management

  • Develop and implement strategic business plans for each asset that will govern its daily operations, position in the market, and ultimate disposition.
  • Model full life cycle of each asset from acquisition through disposition including investor returns under different scenarios.
  • Assist with refinancing and disposition efforts through broker solicitation and selection, negotiation of legal agreements, and closing.
  • Lead and direct third-party property management firms, leasing brokerage firms, legal counsel, transactions teams, and all other third-party service providers to assure financial performance, timely reporting, proactive and high-quality repairs and maintenance, and positive tenant relations.
  • Assist with conducting transaction analysis and support due diligence for new acquisitions.

Financial Analysis, Oversight, and Investor Reporting

  • Lead the annual budget, business planning, and reforecasting process for each asset.
  • Review monthly property management reports for variance against budget and strategy.
  • Prepare monthly, quarterly, and annual reporting for investor clients and senior leadership.
  • Create cash flow projections, analyze and recommend investor capital calls and distributions.
  • Perform valuations of each asset on a bi-annual basis.
  • Review third-party appraisals for accuracy and consistency.
  • Develop analytical tools to allow leadership to better understand the state of the portfolio.
  • Monitor and maintain compliance with all lender and insurance requirements.
  • Oversee property management teams and accounting of property expenses and CAMs.
  • Collaborate with other departments to improve and document processes and streamline reporting.

Leasing

  • Establish strategies to drive leasing performance at office and mixed-use assets.
  • Manage relationships with leasing brokers, attorneys, and lenders to negotiate lease terms.
  • Review LOIs and other leasing documents.
  • Draft landlord work letters for leases to be approved by owner.
  • Review outside broker listing agreements.
  • Track ROFOs and ROFRs of existing tenants.
  • Work closely with property managers to transition new tenants into (office) properties.

R&M and Capital Improvements

  • Forecast repair and maintenance budgets and oversee property management to implement a proactive and high-quality maintenance plan.
  • Develop capital improvement strategies, to be approved by owner, and oversee design and construction management activities.
  • Monitor construction progress and ensure TI and CapEx projects are closed out.
  • Negotiate third-party contracts and oversee implementation of capital improvement and “value-add” programs within the portfolio.

CANDIDATE PROFILE

Educational & Professional Experience Requirements

  • 5-10 years of commercial real estate experience with a focus on asset management activities including strategy, leasing, financing, managing improvements, capital investments, and dispositions.
  • Experience managing office assets; additional experience with multifamily and industrial preferred but not required.
  • Acquisitions and dispositions experience highly valued but not required.
  • Bachelor’s Degree in Real Estate, Finance, Accounting, or related field.
  • Knowledge of the Seattle, Portland, Salt Lake City, Denver, and Boise markets is particularly useful.

Key Skills & Competencies

  • In-depth knowledge of real estate finance including underwriting, valuation, and debt and equity structures.
  • Able to successfully work in a team-oriented environment and partner with internal colleagues, external suppliers, and cross-functional groups.
  • Strong analytical, accounting, and critical thinking skills.
  • High comfort level with the technology used to aid in collaboration, communication, and documentation.
  • Excellent written and oral communication skills.
  • Advanced knowledge of Excel including building templates for other users.
  • Argus, Yardi and SharePoint skills strongly preferred.

Culture

Our ideal candidate(s) will have a strong compatibility with Heartland culture in terms of intellectual curiosity, team-oriented nature, problem-solving capacity, desire to learn new skills as projects demand, a focus on high-quality work product, and ability to work in a fluid, fast-paced environment.

  • High level of integrity
  • Proactive self-starter with ability to both take direction and also set own action plan
  • Ability to learn and adapt quickly
  • Ability to manage multiple competing priorities and meet delivery deadlines
  • Ability to work effectively both independently and within teams
  • Ability to probe, ask the right questions, and dig beneath the surface to test the validity of information
  • Ability to think critically, solve problems and make well-reasoned business decisions
  • Strong work ethic
  • Interdisciplinary capabilities
  • Desire to work with clients
  • Superior attention to detail
  • Ability to focus on a variety of tasks simultaneously
  • Strong self-motivation
  • Team orientation
  • Flexibility

OTHER DETAILS

Reporting, Supervisory & Collaboration Responsibilities

  • Reports to Director of Asset Management
  • Manages property-level teams, including third-party property managers, leasing brokers, etc.
  • Collaborates with internal project teams
  • Collaborates with client personnel

Travel

Travel required to appropriately cover the assets and the market.

Salary Range

The salary range for this position will range from $125,000-$175,000 per year and will be dependent upon multiple factors including experience and existing skillsets.

Benefits Description

  • Medical
  • Dental
  • Vision
  • 401(k) plan
  • Life and disability coverage
  • Potential for discretionary annual bonuses
  • Vacation, sick leave, and holidays
  • Company supplied equipment for home office
  • Qualified Transportation Plan program
  • Charitable Matching Gift Program
  • Health & Fitness Reimbursement Program

Location & Hybrid Work Policy

Heartland currently has a hybrid work policy, which includes the ability to work remotely within the Puget Sound Region. On average, Heartlanders are in the office 2-3 days per week. The hybrid work policy may evolve over time.

Diversity, Equity & Inclusion Efforts

We are an equal opportunity employer. We recognize that our mission and values are best advanced by the leadership and contributions of individuals of diverse backgrounds, beliefs, and cultures. Recruiting and mentoring staff to create an inclusive organization that reflects our region’s diversity is a priority, and we encourage applicants from all cultures, races, colors, religions, sexes, national or regional origins, ages, disability status, sexual orientation, gender identity, military, protected veteran status, or other status protected by law. Heartland provides equal employment opportunities to all employees and applicants for employment without regard to race (including traits historically associated or perceived to be associated with race such as hair texture and protective hairstyles such as afros, braids, locks, and twists), color, ethnicity, creed, ancestry, national origin, citizenship, sex or gender (including pregnancy, childbirth, and pregnancy-related conditions), gender identity or expression (including transgender status), sexual orientation, familial or marital status, religion, age (40 and older), disability (including sensory, mental, or physical disability), obesity, use of a trained dog guide or service animal by a person with a disability, genetic information (including testing, predisposition, or carrier status), HIV or AIDS status, veteran or military status or any application for military status, domestic violence victim status, or any other characteristic protected by applicable federal, state, or local laws and ordinances. Equal employment opportunity applies to all terms and conditions of employment, including hiring, placement, promotion, termination, layoff, recall, transfer, leave of absence, compensation, and training.

As advisors by trade, we know that innovative solutions emerge from unique perspectives, experiences and identities. As such, our team and our partners are our life force. We encourage employees to get involved and to feel comfortable voicing their opinions and sharing their ideas; our goal is for everyone to feel and be heard, included and acknowledged. To that end, we are committed to continue working to become a more diverse, equitable and inclusive organization. We know it is a journey and while we may not get it right all the time, we are dedicated to creating a psychologically safe work environment, dedicated to listening and amplifying the voices of all employees to create a better organization.

COVID-19 Vaccination Policy

Heartland does not require vaccination in order to be eligible for employment, however, employee health and safety is a high priority and so we do encourage people to be fully vaccinated and up to date on available boosters. Heartland will continue to monitor the situation and reserves the right to update this policy in accordance with CDC Guidelines and best practices in order to maintain a safe working environment.

Application Process

Applications are accepted on a rolling basis and should include both a Cover Letter and a Resume. Please submit via Heartland’s online career center.

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