Asset Manager

I.    POSITION PURPOSE

To maximize the value of the real estate portfolio via quality service and efficiency, maintenance and management of the properties, tenant satisfaction, and retention in accordance with the mission, vision, and strategy of Douglas Development Corporation’s (“DDC”) core values.

II.    GENERAL RESPONSIBILITIES

The Asset Management Associate’s principal responsibility is to provide support to Senior Management by evaluating and monitoring an asset’s current performance and future potential and providing analysis to support optimal asset performance over time. The Associate eventually will be involved in all areas of the real estate investment process. 

III.    SPECIFIC RESPONSIBILITIES

a.    Review and monitor the ongoing financial performance, leasing and capital programs for a portfolio of properties as managed internally or by third-party property management teams. 

b.    Work closely with property management, brokers, consultants and attorneys to provide direction for and oversight of business plans, budgets, forecasts, leases, analysis and approvals.

c.    Create, audit, and maintain Argus and Excel-based asset management models for each asset from acquisition through disposition. Including the preparation and maintenance of property-level financial models that track actual performance against pro forma, reforecast future cash flows, and narrate variances, including a review of the same as provided by 3rd party managers. 

d.    Provide monthly operational updates to senior management that focus on opportunities to add value to the portfolio and identify potential risks or threats that could erode value.

e.    Participate in the drafting and implementation of strategic business plans for each asset that will govern its daily operations, position in the market, and ultimate disposition.

f.    Manage property-level cash, project and recommend appropriate property-level contributions and distributions.

g.    Assist in the CAM estimate and reconciliation processes.

h.    Evaluate the local markets to identify changes and trends and the related impact on real estate values and investment strategies

i.    Participate in the disposition process and assist with due diligence thru closing.

j.    Assist in evaluating potential equity and debt investment opportunities by building financial models.

k.    Assist with acquisition due diligence responsibilities and closing process

IV.    Successful candidates will possess the following: 

a.    Undergraduate degree with a concentration in finance and/or real estate;

b.    3 years of experience in commercial real estate;

c.    Strong analytical and quantitative skills to include proficiency in ARGUS and excel;

d.    Detail oriented and self motivated; 

e.    Strong entrepreneurial spirit with the ability to manage multiple transactions. Enjoy working in a fast-paced, informal, fluid environment with changing priorities;

f.    Superior written and verbal communication skills; and,

g.    Prior knowledge/experience in the DC commercial real estate marketplace highly desired.