Asset Manager/Transactions Manager

AFIAA US Investment, Inc. - A Global real estate investment management firm is currently hiring an Asset Manager/Transactions Manager for their Commercial real estate in North America. The position is based at the firm’s New York City office.

The Asset/Transactions Manager will work closely with all of the firm’s various functional areas with particular emphasis on Property Management and Commercial Leasing and take ownership for a property portfolio in multiple U.S. markets.

Qualified candidates must have in-depth knowledge of strategic planning in a commercial real estate context, office, retail, and mixed-use asset and property management, finance, accounting, real estate transactions, macroeconomics, and marketing. S/he will be working in a rapidly growing, dynamic, cross-cultural, and collaborative environment with responsibility for continually representing the company’s financial interests through the entire investment cycle.

The Asset/Transactions Manager will be responsible for managing all phases of the asset management process for an assigned portfolio of properties. Over the entire life-cycle for each investment, s/he will work closely with Property Management, third party Leasing agents and consultants to ensure that each asset meets acquisition proforma objectives, key business plan elements, capital improvement deadlines and overall investor goals.

Among the position’s responsibilities, the Asset/Transactions Manager will also work closely with the Acquisitions team on due diligence and the formulation of business plans for new investments, assist the Acquisitions team with asset dispositions, and manage complex real estate issues for the portfolio as they arise.

Responsibilities of the Asset/Transactions Manager include the following:

• Work collaboratively on new acquisitions. Participate directly in development of strategic business plans for new investments and be responsible for the asset management elements of the acquisition process including vetting and signoff on all operating and capital improvement underwriting assumptions, developing scope of work for renovation and capital improvement projects, establishing target rent and operating expense levels, finalizing operational and capital budgets, documenting operational plans and investment goals/objectives, and on-boarding new acquisitions into the portfolio.

• Review weekly and monthly property data for owned properties including leasing reports, construction progress reports, and aged delinquencies, etc., and work with Property Management and third party Leasing agents to improve operational performance. Identify and troubleshoot issues relating to commercial leasing, occupancy and turnover, opportunities to improve rents and implement other income initiatives, controlling expenses, strategic oversight of capital improvement programs, and addressing renovation program challenges including leasing issues, scope of work, rent premiums, etc.

• Monitor, review, and evaluate financial operating results and work with Property Management to implement changes as needed to enhance asset value, cash flow, and profitability. Manage capital improvement and other reserve balances. Take ownership of quarterly and annual reporting.

• Conduct site visits on a regular basis and meet with Property Management and third party agents to review and assess operations, leasing, capital improvement programs, and property physical condition.

• Manage the annual budget review and approval process for the U.S. portfolio and for new acquisitions.

• Support the Transactions team on dispositions and re-financings. Participate in sell/hold/refinance decision making, assist with review of broker BOVs and capital transaction analysis, and monitor/address operations during the sale/refinancing process to ensure a successful outcome.

• Effectively present information to and respond to questions from groups of executives, investors, lenders, and partners.

CANDIDATE QUALIFICATIONS

The ideal candidate is an experienced professional and will possess the following attributes:

• A minimum of 5-7 years of direct commercial asset management experience with demonstrated experience asset-managing a portfolio of assets in multiple U.S. markets, with a particular emphasis on institutional-quality class A office.

• Direct experience managing commercial leasing initiatives including oversight of third party Leasing agents and negotiating letters of intent and leases for office and retail properties.

• Extensive working knowledge of commercial real estate concepts, including lease analysis, CAM reconciliations, ARGUS Enterprise modeling, and use of Yardi.

• Strong knowledge of U.S. real estate markets.

• Strong analytical and problem-solving skills, with a demonstrated track record of providing creative and innovative solutions to real-time challenges.

• An investment mindset with a thorough understanding of financial calculations/metrics and analytical skills. Must be well-versed in project proformas and understanding deals, and able to articulate, both orally and in written form, the case for a specific project. Should have both an intuitive and a detailed sense of the dynamics, risks, and financing/capital structure of each transaction.

• Proficiency with Word, Excel, PowerPoint, ARGUS Enterprise, and Yardi.

• Strong written and verbal communication skills, presentation skills, and negotiation skills.

• Sound decision making ability with the solid experience to balance consensus against authority as appropriate.

• A team player with strong leadership skills.

• Excellent organizational and time management skills.

• The ability to travel frequently, i.e., 30%-50% travel.

EDUCATION

The successful candidate will have a strong academic background with a BA/BS degree.

CPA, CFA, MBA or a Master’s in Real Estate or other relevant disciplines is preferred.

Total Compensation $150k - $175k (including base salary, bonus, company 401k contribution).