Benefits

Job Description

General Summary: The Asset Manager will be responsible for overseeing the company’s real estate portfolio, optimizing the value of its assets, and driving financial performance. This role requires an individual with strong analytical skills, a comprehensive understanding of real estate markets, financial modeling, and asset management strategies. The Asset Manager will collaborate with various internal teams to enhance asset performance, manage risks, and ensure that development projects meet both financial and operational goals.

Core Competencies:

· Action Oriented: Takes on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm. Displays a can-do attitude in good and bad times. Readily acts on challenges without unnecessary planning.

· Job Knowledge: Possesses and applies the necessary knowledge and mechanical skills for the position. Learns and applies new skills to position. Understands the relationship between project requirements and ownership expectations.

· Problem Solving: Makes good and timely decisions within their authority that keep the project and organization moving forward. Demonstrates ability to evaluate problems and situations calmly and identify problem areas which need to be addressed. Stays focused on seeing complex and challenging tasks/projects through to completion. Uses creative thinking to leverage all available resources to find solutions. Assesses risk appropriately for a given situation and determines whether it can be solved individually and when it needs to be elevated.

· Financial Control: Ability to effectively manage company assets with an awareness of the “bottom-line.” Manages budgets to meet business plan objectives. Seeks guidance as necessary to ensure adherence of financial goals.

· Communication: Demonstrates effective verbal and written communication skills and conveys information to internal and external stakeholders in a clear and concise manner. Utilizes strong listening skills to formulate direct responsive questions.

Responsibilities:

· Portfolio Management:

Manage a diverse portfolio of real estate assets, including apartments, retail, hotel, and other mixed-use properties.
Develop and execute strategies to maximize the value and return on investment (ROI) for each asset.
Monitor market conditions and assess opportunities for dispositions and refinancing.
Conduct detailed asset performance analysis, including cash flow projections, and variance analysis.

· Financial Oversight:

Oversee financial performance and budgeting for all assets in the portfolio.
Review financial reporting from on-site property managers and prepare summaries and budgets for ownership.
Collaborate with finance and accounting teams to ensure accurate financial reporting and compliance with company policies and capital partner/lender requirements.
Assess and mitigate financial risks, implementing strategies to protect against market fluctuations.

· Lease and Contract Management:

Manage tenant relationships, ensuring lease agreements are appropriately structured, maintained, and executed.
Negotiate LOIs, leases, lease renewals, and lease amendments with commercial tenants, ensuring terms align with the company’s objectives.
Ensure the proper enforcement of lease terms and the timely collection of rent payments.
Manage property management’s handling of lease non-compliance and default

· Strategic Planning:

Develop strategic plans for portfolio growth and optimization that align with ownership’s investment hold parameters.
Provide recommendations for capital improvements and asset dispositions to senior management.
Manage and write quarterly reporting and annual business plans for each asset in the portfolio

· Operational Management:

Work with property management teams to ensure effective operations and maintenance of assets.
Oversee tenant satisfaction programs, ensuring high occupancy rates and tenant retention.
Ensure compliance with local, state, and federal regulations related to property management.

· Risk Management:

Identify, assess, and mitigate risks related to market trends, tenants, and asset performance.
Ensure proper insurance coverage for assets and assess any potential exposure to liabilities.
Maintain a proactive approach to risk analysis, providing recommendations to senior leadership.

· Team Collaboration:

Collaborate with development, construction, and legal teams on the delivery of new projects and ensuring alignment with business goals.
Act as a liaison between senior management, investors, and stakeholders.
Lead cross-functional teams to optimize asset performance, solve challenges, and ensure smooth execution of strategies.

Required Skills/Abilities:

· Demonstrate strong initiative, self-motivation, and be action oriented.

· Demonstrate general understanding and successful application of asset management terminology and processes.

· Negotiate and interpret the intent of contract documents and mediate disputes, as needed.

· Understand financial statements, including balance sheets, income statements, and cash flow statements

· Analyze and interpret various types of data in order to draw conclusions and solve problems.

· Interact with employees, visitors and contractors with poise and diplomacy.

· Collaborate with co workers in order to keep the team informed.

· Compose business letters, expositions, summaries, and reports, using proper format, punctuation, grammar, and style.

· Establish and maintain a cooperative and collaborative working atmosphere among staff and contractors.

· Exchange ideas, information, and opinions with others to formulate policies and programs and/or arrive jointly at decisions, conclusions, or
solutions.

· Demonstrate strong financial modeling skills to forecast project cash flows over the investment hold period.

· Demonstrate proficiency in Microsoft Office software.

· Demonstrate a willingness to learn new skills and an open mind to alternate solutions and methodologies.

· Demonstrate an ability to function as a part of a team operating in a fast-paced, results-oriented environment.

The above listing represents the general duties considered essential functions of the job and is not to be considered a detailed description of all the work requirements that may be inherent in the position.

Hoffman & Associates does not discriminate in employment based on race, color, religion, sex (including pregnancy and gender identity), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, membership in an employee organization, retaliation, parental status, military service, or other non-merit factors.

Asset Management

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