2024-05-15
AppCast (https://www.appcast.io)
Other
/yr
full-time
employee
Los Angeles
California
90079
United States
**Asset Management Retail Asset Manager**
| Tue, Mar 1st, 2022 Salary*Competitive*Employment Full TimeWork Place Remote Real Estate Field
* Property Management
LocationPasadenaLocation CA Postal Code 91106Country United States
**Description**
**ExchangeRight provides real estate investments that are structured to provide long-term, stable income and asset preservation to accredited 1031 and 1033 investors. Our goal is to consistently deliver diversified 1031-exchangeable DST portfolios of long-term, net-leased properties backed by investment grade corporations. We target corporate tenants that successfully operate in the necessity retail space to provide investors with stable and predictable income.**
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**ExchangeRights long-term exit strategy is to provide greater diversification and value to investors by combining multiple portfolios of investment grade, net-leased assets into a REIT to execute a public market sale, merger, IPO or listing. We currently have over $4.6 billion in assets under management and are on pace to add over $800 million in additional assets under management each year. Our portfolio of more than 1,000 properties is diversified across 44 states. ExchangeRight and its affiliate Telos Capital strategically invests primarily in real estate projects throughout the United States targeting value-add and opportunistic returns for investors.**
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**Reporting to the Senior Asset Manager, the Retail Asset Manager will primarily be responsible for overseeing the operations of multiple grocery-anchored neighborhood centers, including the direct oversight of local property management companies or our in-house property management team. An effective candidate will demonstrate an ownership mentality with an investor stewardship approach to maximize cash flows and value. This role can be performed remotely, although regular site visits to the properties will likely be required, as necessary.**
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**Responsibilities:**
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* **Oversight of third-party service providers including local property management teams to ensure business plans are executed at the property level, best practices are always met, and company standards of ownership and tenacity are consistently achieved**
* **Maximize value through active cash flow management by constantly looking for ways to improve performance all while maintaining a partnership and collaborative approach with our tenants**
* **Maintain, develop, and expand relationships with both anchors and inline tenants when applicable**
* **Ensure accuracy of all consolidated information prior to presentation**
* **Work closely with the leasing team to ensure property performance goals are being achieved and we are constantly evaluating new opportunities for leasing and revenue growth**
* **Provide yearly recommended capital budget to 1) address deferred maintenance, 2) meet leasing objectives, and 3) grow ancillary income**
* **Consistent evaluation of all vendor contracts to ensure costs are controlled including regularly placing major contacts out for bid**
* **Monitor physical condition of assets to ensure they are properly maintained**
* **Produce and implement annual business plans, reporting on milestones and where each property stands compared to those business plans**
* **Produce annual operating budgets**
* **Active management of operating budgets throughout the year to ensure costs are adequately controlled and revenue targets are met**
* **Manage and proactive ownership of CAM reconciliation processes**
* **Assistance with acquisitions team as part of the due diligence and underwriting process, primarily as an informational resource to that team sharing local knowledge of market trends and expense expectations**
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**Requirements:**
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* **Three to five years of experience in the management of commercial real estate, retail strongly preferred**
* **Bachelors degree**
* **Operational experience with direct responsibility for income and expense management, strategic planning**
* **Financial acumen, including the ability to build and maintain cash flows in Excel or ARGUS**
* **Understanding of DCF and other valuation concepts**
* **Solid understanding of the relationship between effective asset management and value maximization**
* **Experience with leasing, financial reporting, business plans, and managing vendors**
* **Data consolidation and reporting to senior executives**
* **Yardi experience a plus**
* **Ownership mentality with an investor stewardship approach to maximize cash flows and value**
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* **Fast-paced, growing real estate company with natural career progression and access to executive management team**
* **Competitive compensation**
* **$490/month employee covered medical benefits plus 50% coverage of the balance if any**
* **Paid time off (15 days per year for the first two years, 20 days from years 3 5-, and 25-days beginning year 6)**
* **Profit sharing and cash balance plan following 1 year of service. Both plans are 100% company funded and have vesting requirements.**
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**Company Culture:**
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**ExchangeRights passion is to empower people to be secure, free, and generous. We seek to accomplish this by putting others first and we use the acronym, FIRST to identity how we will work together to reach this goal. These core values set the tone for the culture we nurture in the office. We apply these principles when evaluating performance and we expect all team members to be in alignment with these expectations:**
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**Fidelity**
**We are faithfully committed to achieve the best outcome for those whom we serve.**
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**Integrity**
**We do what is right and we steward investors wealth the same way we do our own.**
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**Responsibility**
**We take proactive personal ownership in everything we do.**
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**Servant-Heartedness**
**We serve our clients, each other, and our community with humility and generosity.**
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**Tenacity**
**We relentlessly go above and beyond approaching our work with healthy sense of urgency.**
**Job Functions**
* Facilities Management
* Leasing
* Property Management
**Job Sector**
* Retail
**Experience**
2+ to 5 years
*Optional: please check up to three*
Select the activities and responsibilities in which you have experience
* Academic
* Accounting / Control
* Acquisitions
* Administration
* Advisory Services/Consulting
* Appraisal
* Architecture / Design
* Asset Management
* Brokerage / Sales
* Business Development
* Capital Markets
* Communications
* Community Development
* Construction
* Corporate Services
* Development
* Due Diligence
*Optional: please check all that apply*
Select all sub-divisions of properties in which you have experience
* Alternative Investments
* Government/Education
* Healthcare
