Asset Management Associate
Asset Management Associate
Selby Jennings is partnered with an entrepreneurial, national real estate investment firm focused on a vertically integrated strategy of acquiring and managing multi-tenant light industrial properties in major markets across the U.S. Sunbelt. They leverage deep property and asset management expertise to create value across the entire investment lifecycle.
Key Responsibilities:
Leasing & Revenue Growth
- Develop and implement asset management strategies to optimize property performance and maximize ROI.
- Oversee third-party leasing agents to maximize occupancy and drive greater leasing velocity for both new leases and renewals.
- Participate in lease negotiations, including LOIs and RFPs, and conduct financial analyses of lease transactions.
- Formulate and execute workout plans for tenants experiencing financial difficulties.
- Conduct periodic site visits to assess property conditions and performance.
- Monitor and analyze market trends, competitor activity, rental rates, and leasing absorption.
Financial Oversight & Reporting
- Oversee property operations, including budget-to-actuals analysis, cash flow projections, occupancy levels (rent rolls), and accounts receivable.
- Conduct monthly and quarterly financial performance reviews, including budget comparisons, asset proforma analyses, and investment performance reports.
- Manage quarterly reconciliation of leasing commissions, tenant improvements, and capital projects, ensuring accurate forecasting of capital needs.
- Develop leasing assumptions in collaboration with leasing agents for annual budget preparation.
- Review and refine annual operating and capital expense budgets, ensuring alignment with acquisition and valuation models.
- Oversee loan documents and servicing agreements, ensuring compliance with lender requirements and reserve levels.
Value Creation & Operational Efficiency
- Maximize total return on assets through operational efficiencies and strategic performance enhancements.
- Partner with property management teams to analyze and reduce operating expenses, improve cash flow, and increase overall returns.
- Develop and implement action plans for property challenges and monitor their effectiveness.
Qualifications:
- Bachelor's degree in real estate, business, finance, or a related field (Master's degree or relevant certifications preferred).
- Minimum of 3 years of experience in real estate asset management or a related discipline.
- Strong financial acumen and analytical skills, with experience in portfolio oversight.
- Excellent communication, negotiation, and organizational abilities.
- Proven track record in developing and executing asset management strategies.
- Knowledge of multi-tenant light industrial and office real estate operations.
- Ability to thrive in a fast-paced, entrepreneurial environment.
- Proficiency in MS Excel, Word, and Outlook; familiarity with real estate software (Yardi, Deal Manager, Argus, VTS, etc.) is a plus.
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