Director - Property Management (Commercial Real Estate/Retail)

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN and one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. Publicly listed since 2004, KRG has nearly 60 years of experience in developing, constructing, and operating real estate.

Job Summary:

We currently have an exciting opportunity for an experienced Director of Property Management that will be responsible for the net operating income and performance for their regional portfolios and that of the Property Managers that will report to them. This position will be based out of our Indianapolis HQ office.

Key Responsibilities:

The Director of Property Management will develop strategies to maximize value of each property through revenue enhancements, expense reductions, leasing strategies as well as potential re-development and/or re-positioning strategies. The successful individual must possess knowledge / skills and experience in property management, have strong financial acumen including familiarity with NPV, IRR and property valuation techniques, have experience with tenant credit review and analysis and a fundamental understanding of the leasing process. This position supervises both internal and external maintenance and property management personnel, administrative personnel if applicable, and must work well in a cross-functional team environment.

Additional duties and responsibilities include the following:

• Conduct the annual assessment of the Team including Annual Performance Reviews
• Direct the overall financial performance of their Team.
• Responsible for the overall growth trajectories of their direct reports and, when necessary, capable of identifying and hiring replacements
• Hold regular weekly, bi-monthly and quarterly meetings to communicate Policy and Procedure, as well as corporate initiatives to the field teams.
• Ensure that Property Managers are utilizing Salesforce.com to its fullest extent.
• Visit the properties in their Region at least 1x per year with their respective Property Managers
• Instrumental in collaborating with other Directors and VP of Property Management to develop, plan and execute on overall department strategies.
• Oversight of day-to-day property management functions through utilization of internal or external property management/maintenance resources.
• Develop and execute tenant relations programs.
• Assist with preparation of annual operating budgets to include leasing assumptions and capital expenditures.
• Function as liaison with leasing department on property level leasing matters, providing support as necessary to accomplish annual leasing goals at the property. Provides oversight for executing lease renewals at the property level and is cognizant of renewal leasing “spreads.”
• Develop and execute annual strategic management plans for each property to include expense reduction efforts and revenue enhancement strategies (ancillary income opportunities)
• Have ownership of each property’s ability to meet or exceed the Kite property branding standards- appearance, cleanliness, sight lines, signage, etc.
• Prepare periodic budget vs. actual variance analysis, provide re-forecasted data on occupancy and NOI for each property.
• Function as primary interface with KRG Legal team on requested revisions to the KRG lease form as part of new lease negotiations.
• Assess individual operating center and portfolio retailer health (occupancy cost as a percentage of sales)
• Stays abreast of trends within the real estate industry as well as retailer world, is cognizant of changes in the investment climate, knows and understands issues impacting retailers.
• Expert time management skills and ability to work independently.
  
  

Qualifications

Requirements:

• Requires a minimum of 8-10 years of previous Property or Property Management related experience in commercial real estate. Experience in leading or supervising teams needed.
• Bachelor’s degree or higher from an accredited college or university preferred; or equivalent experience of a minimum of 8-10 years’ experience in real estate property management, strong preference for retail shopping center experience (CSM or other industry designation is a plus), with significant management experience.
• Required job skills learned include: Communicating verbally and in writing to tenants, creating budgets, preparing management reports, reviewing, and explaining documents such as: lease terms, CAM Reconciliations, insurance requirements, and other commonly used documents in the commercial real estate industry.
• Must be proficient at Microsoft programs Outlook, Word, Excel, & PowerPoint and/or Mac OS
• Must be trainable on MRI and Salesforce.com
• You must also be able to travel to the properties in the portfolio for onsite routine visits, while maintaining effective responsiveness to the ongoing tenant and departmental needs of the company.
• Requires strong financial skills, including analysis of tenant financial information, real estate investment return measures and valuation analysis.
• Not required but recommended are CSM, RPA, CPM and/or CCIM designations in commercial real estate.
• Travel required as needed.