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Vice President, Asset Management


Washington, DC

Company Description:

A NYSE traded public REIT is seeking to add a Vice President in Asset Management.  The Vice President – Asset Management will report to the CFO/COO with oversight from the Head of Asset Management and will work alongside other senior members of the Asset Management team.  Job duties include, but are not limited to: creating and implementing property-level business plans, financial reporting, maintaining relationships with lessee / tenant points of contact, management and oversight of property operations to include internal and third-party property management teams, maximizing property value by controlling operating expenses and driving leasing / re-leasing activities and participating in acquisition and disposition activities.

Position Description:


 Property-Level Strategic Planning

  • No less frequently than annually, create a business plan for each property. The business plan should address the overall investment strategy for the property, how it fits into the firm’s portfolio objectives, and strategies to increase property cash flow and/or value.
  • Annually, with a mid-year reforecast, project capital expenditures for both contractual and general maintenance requirements.
  • Create and provide to Management detailed financial analyses to support recommendations and decision making for capital expenditures, leasing activities or other strategic initiatives, as needed.

 Financial Reporting and Property Operations

  • Annually, with a mid-year reforecast, coordinate with property management teams to prepare, review and present for approval property operating and capital expenditure budgets.
  • Monthly, report to senior management on property level performance, with comparative analyses to budget, pro forma and previous operating history which may include statistics regarding a) portfolio occupancy, b) lease expirations, c) estimated renewal rents and re-tenanting costs, d) summary reports from the earnings model projections, e) other metrics as requested by management.
  • Weekly, provide and discuss with Management a portfolio overview of activity at each property with a review of any new or ongoing issues, concerns or other items that require management attention
  • In cooperation with the Associate – Acquisitions, Asset Management and Finance, create and review the analyses that support the quarterly earnings model, to include projections for Consumer Price Index, lease renewal rates, capital expenditures, etc.
  • In cooperation with the Associate – Acquisitions, Asset Management and Finance, maintain lease abstracts including schedules of base rent, tenant improvement rent, and real estate tax and operating expense reimbursements.
  • Meet periodic reporting requirements for property level loans, to include providing financial statements, rent rolls and other reports as required.

 Acquisitions and Dispositions

  • Participate in due diligence review of potential acquisitions with particular attention to assumptions. regarding operations and operating expenses.
  • Review, analyze and recommend property managers and/or leasing agents for new acquisitions.
  • Transition acquired properties into the portfolio, including completing lease novations.
  • Prepare financials and due diligence packages for potential dispositions.

 Required Skills / Qualifications

  • Undergraduate degree, additional education preferred.
  • Eight to fifteen years of commercial real estate property/asset management and analytical experience.
  • Strong understanding of basic commercial real estate concepts and valuation techniques.
  • Excellent verbal and written communication skills.
  • Excellent planning, organization, and interpersonal skills.
  • Ability to function in a team-oriented setting and to work well on your own.
  • Attention to detail and ability to function under tight deadlines.
  • Ability to work accurately and efficiently.
  • Ability to handle multiple projects at one time.
  • Strong sense of personal motivation and responsibility.
  • Ability to clear GSA NACI & FBI LBI background checks.

 Desired Skills / Qualifications

  • Knowledge of ARGUS DCF and Enterprise Software.
  • Intermediate to expert experience using Microsoft Excel.

To learn more about this position, contact: Christine Pinkerton | (919) 679-9149 |