JOB TITLE: Asset Manager DEPARTMENT: Asset Management REPORTS TO: Director of Asset Management STATUS: Full-Time, Salaried, Exempt About the Role The Asset Manager plays a pivotal role on the Asset Management team, focusing on enhancing the long-term value of real estate properties through strategies aimed at revenue growth, operating expense control, capital deployment, debt management, and risk management. The Department’s mission is to successfully lead all components that affect the creation of value on a portfolio of real estate assets and tactically direct each component in synchronization to deliver the best possible near, mid-, and long-term outcomes for the owners. The Asset Manager will implement the mission while strictly adhering to the company’s Core Values, ensuring optimal performance and value creation for the portfolio. What You Will Do Asset Management - Lead post-closing acquisition meetings and one-year PAR reviews, comparing results to the original underwriting.
- Lead quarterly re-forecasts on a rolling 12-month basis and assist Treasury with cash forecasting.
- Prepare capital calls.
- Continuously monitor financial performance and develop strategic recommendations to maximize the financial return of each asset.
- Periodically evaluate and analyze the company’s real estate holdings to identify underperforming assets and recommend alternatives to ownership.
- Maintain NAV/GAV schedules for all assets in your portfolio.
- Prepare executive summary packages for all assets in your portfolio.
- Lead Investor Relations for partnership properties overseen by providing information and forecasting per Joint Venture Agreements.
- Analyze and summarize all property budgets during the budget process, with an emphasis on multi-year NOI variances.
- Review and finalize property capital budgets annually, including building and tenant improvements, and lease commissions.
- Monitor debt compliance as it relates to leases, capital improvements, reporting, and DSCR triggers.
- Support efforts to maintain the REO schedule.
Marketing & Leasing - Provide insight and leadership in the development of marketing plans.
- Lead the transaction team (internal or external) through effective motivation and accountability.
- Provide direction and decision-making for all new and renewal lease deals, considering all relevant variables to meet the departmental mission statement.
- Prepare lease analyses for key business and legal terms as needed.
- Negotiate lease terms as needed.
- Prepare lease packages for ownership approval as needed.
- Finalize and approve all lease assumptions for each asset in your portfolio.
Property and Project Management - Provide insight and leadership in the development of property operating budgets.
- Lead property and project management teams (internal and external) through effective motivation and accountability.
- Provide direction and decision-making for capital and operational endeavors, considering all relevant variables to meet the departmental mission statement.
- Negotiate and finalize all service provider leasing and management agreements.
- Monitor and provide direction for all accounts receivable issues.
- Review monthly operating statements and variance reports.
- Review and approve CAM calculations provided by the service provider.
Skills - Proven ability to lead and collaborate effectively across teams and with external partners.
- Excellent written and verbal communication skills; able to present complex financial information clearly and persuasively.
- Strong analytical and problem-solving abilities with keen attention to detail.
- Highly organized with the ability to manage multiple priorities in a fast-paced environment.
- Ability to demonstrate initiative, sound judgment, and professionalism in all interactions.
- Driven, self-motivated, and aligned with the company’s Core Values.
Education and Experience - Bachelor’s degree in business, finance, or equivalent; MBA preferred.
- 5-7 years of commercial real estate experience required.
- Substantial knowledge and experience in structuring transactions, real estate and financial market analysis, and capital planning.
- Previous experience with underwriting and financial modeling.
- Previous experience interpreting complex term sheets, financing documents, lease agreements, and Joint Venture documents.
- Understanding of real estate methodologies.
- Previous experience interpreting and presenting operating statements, balance sheets, and cash flow statements.
- Previous experience with MRI software and Argus is preferred.
Physical Demands and Work Environment - This role primarily operates in a professional office environment and routinely uses standard office equipment.
- Ability to travel as needed. The position may occasionally require the employee to work outside of the office, visiting properties or attending meetings with external stakeholders.
- While performing the duties of this job, the employee is regularly required to remain stationary at a desk for long period of time, to communicate effectively, and to move about the office. Must be able to lift, carry, or push/pull up to (15) pounds.
- This is a full-time position. Workdays are Monday through Friday. This position may require longer hours and occasional weekend work as job duties demand.
At Weston, Inc., we foster a dynamic and collaborative work environment where everyone is valued and respected. We are committed to diversity and inclusion, ensuring equal opportunities for all employees. Discrimination or harassment based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic is strictly prohibited by federal, state, and local laws. This extends to all aspects of employment, including hiring, recruitment, promotion, termination, layoff, recall, leave of absence, compensation, benefits, training, and apprenticeship. Our hiring decisions are based solely on qualifications, merit, and business needs at the time.
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