Washington, DC
Salary Estimate: $100,000.00 - $180,000.00
Employment Type: Full Time
Work Place: Office
Experience Required: 5+ to 7 years
Education Required: 4 Year College
Benefits
Job Description
Job Description
PRP is a real estate investment management company with a focus on value-add office and multifamily apartments, industrial, and mission-critical corporate headquarters facilities leased to investment-grade companies on a long-term basis. We are in growth mode as we look to capitalize on current disruption in most classes of commercial real estate. We are currently conducting a search for detail oriented, Asset Manager Commercial Real Estate for our Washington, DC Office. You will work closely with our acquisition, accounting and senior management teams to ensure the success of our investments.
Areas of Responsibility
• Work with the acquisition team to review potential property purchases. Participate in the review of acquisition models that support investment decisions with an emphasis on critical metrics. • Oversee the development of annual operating leases in ARGUS, Excel and Yardi and evaluate ongoing operating performance relative to plan. • Work with property management to identify potential synergies among properties, highlight opportunities and implement required corrective actions. • Work with leasing brokers to attract, qualify and maintain tenants and achieve favorable lease terms. • Upon renewal or new lease, ensure tenant and lease terms fit within the portfolio’s investment strategy and determine impact to value. • Work with legal counsel and review and approve negotiated changes to standard form leases (experience with GSA leases a plus). • Oversee all property management functions performed by third party vendor re: management of physical properties including maintenance, inspections and operations. For major capital improvements, oversee project manager and ensure that improvements are completed according to plan and within budget. • Review monthly financial packages and analyze/ address significant variances to budget • Prepare investor and lender reporting (monthly, quarterly, annually) with an emphasis on quality analytics of each property’s financial and operational performance tailored to satisfy the requirements of each investor. • Work with our Institutional Limited Partners to satisfy all reporting requirements and coordinate responses to inquiries. • Provide input on capital improvement projects, building renovations, tenant buildout, leasing activities, marketing initiatives, revenue enhancement alternatives and expense management. • Assist with new and existing tenant lease negotiations including build out of tenant improvements • Prepare analysis and support of property valuations. • Assist in the development of renovation project scopes, timelines, budgets and contract review and monitoring. Monitor actual results against plan. Hands-on responsibility for the preparation of construction draws (both lender and equity) • Prepare cash forecasts and distribution analyses. • Coordinate and lead portfolio reviews with management. • Strategic, proactive focus on revenue optimization, ancillary income identification opportunities, and tracking and managing expense trends within portfolio. • Mine portfolio and 3rd party data to convey clear, actionable insights to property managers to help maximize performance. • Monitor controllable expenses and identify areas of potential cost savings.
Qualifications
• Five years of experience in real estate asset management. • Real estate accounting, financial analysis and property management experience a plus • A Bachelor’s degree is required, with a graduate degree preferred • Strong Excel skills required • Software knowledge must include ARGUS, MS Excel, MS Word, MS PowerPoint, Yardi a plus • Evidence of a history of excellence in asset management activities, including superior investment performance • Must possess a knowledge of real estate investment management trends • Possess strong working knowledge of real estate, including but not limited to interpreting account reports, leases and financing • Must be self-motivated and proactive, and can function autonomously as well as collegially as part of a corporate team • The ability to demonstrate, follow and advance the company’s best practices and values • Strong financial modeling and oversight skills • Demonstrate exceptional writing, presentation, and communication skills within and outside the firm
About PRP PRP is a real estate investment management company with a focus on value-add multifamily apartments, industrial and mission-critical corporate headquarters facilities leased to investment-grade companies on a long-term basis. Founded in 2005, PRP executes value add strategies and asset manages a national portfolio of assets on behalf of its institutional investors, family offices and financial institutions. PRP manages its apartment investments through PRP REM, its property management subsidiary which is solely focused on PRP’s portfolio of apartment properties. PRP has proven expertise in selecting and managing attractive risk adjusted real estate investments located in major markets throughout the United States. Since its formation, the company has invested in 56 assets with a value in excess of $5 Billion in all property sectors. PRP is privately held and is headquartered in Washington, DC. PRP is a creative buyer and seller of real estate and considers a variety of equity and debt investment structures. We offer lucrative incentive-based compensation programs based upon experience and salary history. Please visit our website to learn more about PRP For more information on PRP, please visit PRPREI.COM
PRP is a real estate investment management company with a focus on value-add office and multifamily apartments, industrial, and mission-critical corporate headquarters facilities leased to investment-grade companies on a long-term basis. We are in growth mode as we look to capitalize on current disruption in most classes of commercial real estate. We are currently conducting a search for detail oriented, Asset Manager Commercial Real Estate for our Washington, DC Office. You will work closely with our acquisition, accounting and senior management teams to ensure the success of our investments.
Areas of Responsibility
• Work with the acquisition team to review potential property purchases. Participate in the review of acquisition models that support investment decisions with an emphasis on critical metrics. • Oversee the development of annual operating leases in ARGUS, Excel and Yardi and evaluate ongoing operating performance relative to plan. • Work with property management to identify potential synergies among properties, highlight opportunities and implement required corrective actions. • Work with leasing brokers to attract, qualify and maintain tenants and achieve favorable lease terms. • Upon renewal or new lease, ensure tenant and lease terms fit within the portfolio’s investment strategy and determine impact to value. • Work with legal counsel and review and approve negotiated changes to standard form leases (experience with GSA leases a plus). • Oversee all property management functions performed by third party vendor re: management of physical properties including maintenance, inspections and operations. For major capital improvements, oversee project manager and ensure that improvements are completed according to plan and within budget. • Review monthly financial packages and analyze/ address significant variances to budget • Prepare investor and lender reporting (monthly, quarterly, annually) with an emphasis on quality analytics of each property’s financial and operational performance tailored to satisfy the requirements of each investor. • Work with our Institutional Limited Partners to satisfy all reporting requirements and coordinate responses to inquiries. • Provide input on capital improvement projects, building renovations, tenant buildout, leasing activities, marketing initiatives, revenue enhancement alternatives and expense management. • Assist with new and existing tenant lease negotiations including build out of tenant improvements • Prepare analysis and support of property valuations. • Assist in the development of renovation project scopes, timelines, budgets and contract review and monitoring. Monitor actual results against plan. Hands-on responsibility for the preparation of construction draws (both lender and equity) • Prepare cash forecasts and distribution analyses. • Coordinate and lead portfolio reviews with management. • Strategic, proactive focus on revenue optimization, ancillary income identification opportunities, and tracking and managing expense trends within portfolio. • Mine portfolio and 3rd party data to convey clear, actionable insights to property managers to help maximize performance. • Monitor controllable expenses and identify areas of potential cost savings.
Qualifications
• Five years of experience in real estate asset management. • Real estate accounting, financial analysis and property management experience a plus • A Bachelor’s degree is required, with a graduate degree preferred • Strong Excel skills required • Software knowledge must include ARGUS, MS Excel, MS Word, MS PowerPoint, Yardi a plus • Evidence of a history of excellence in asset management activities, including superior investment performance • Must possess a knowledge of real estate investment management trends • Possess strong working knowledge of real estate, including but not limited to interpreting account reports, leases and financing • Must be self-motivated and proactive, and can function autonomously as well as collegially as part of a corporate team • The ability to demonstrate, follow and advance the company’s best practices and values • Strong financial modeling and oversight skills • Demonstrate exceptional writing, presentation, and communication skills within and outside the firm
About PRP PRP is a real estate investment management company with a focus on value-add multifamily apartments, industrial and mission-critical corporate headquarters facilities leased to investment-grade companies on a long-term basis. Founded in 2005, PRP executes value add strategies and asset manages a national portfolio of assets on behalf of its institutional investors, family offices and financial institutions. PRP manages its apartment investments through PRP REM, its property management subsidiary which is solely focused on PRP’s portfolio of apartment properties. PRP has proven expertise in selecting and managing attractive risk adjusted real estate investments located in major markets throughout the United States. Since its formation, the company has invested in 56 assets with a value in excess of $5 Billion in all property sectors. PRP is privately held and is headquartered in Washington, DC. PRP is a creative buyer and seller of real estate and considers a variety of equity and debt investment structures. We offer lucrative incentive-based compensation programs based upon experience and salary history. Please visit our website to learn more about PRP For more information on PRP, please visit PRPREI.COM
As process-oriented investors, we focus on the fundamentals of real estate investing. On the asset level, our investment strategies are specifically tailored and structured to deliver success irrespective of market conditions and economic cycles. Through a detailed risk assessment and rigorous due diligence of every opportunity, we implement a twin focus: physically modernizing properties while improving operations through new management and leasing initiatives. We utilize the most appropriate capital structures at acquisition, tailoring terms and durations to suit the specific need of each project — with a leverage target of 65% of total project costs. Our unfettered access to the capital markets and deep relationships with lenders and institutional investors, ensures that we achieve the lowest cost of capital available in the industry.
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