We are actively seeking a Commercial Real Estate Asset Manager to join our team in Virginia Beach, VA. This position is primarily responsible for directly overseeing a portfolio of assets while also assisting in the management of the financial performance and business strategy portfolio-wide. Asset types would encompass office and retail. The focus of the role is to create value by increasing NOI while mitigating risk. We employ a unique approach to Asset Management requiring very hands-on involvement; intimately involved in the details as well as being able to think and plan strategically.
Job Duties and Responsibilities
* Collaborates with third-party property managers, lease administrators, legal counsel, auditors, accountants and architects or engineers and internal teams to oversee a portfolio of commercial properties.
* Works with leasing agents to ensure proactive lease-up, tenant retention, market knowledge and maintains positive tenant relationships to ensure our assets are positioned to be the top performers in their respective markets.
* Directs and oversees budgets, forecasts, and leasing activity. Coordinates and oversees property managers, construction managers, and TI/Capex projects with our Capital Improvements Manager.
* Identifies income enhancement opportunities and cost reductions such as appealing real estate tax assessments and managing utility expenses and/or increasing recoveries.
* Participates in creating annual budgets and multi-year projections.
* Conducts asset reviews and property inspections by visiting sites on a routine basis (property maintenance by third-party management companies).
* Reviews monthly financial reports and coordinates with third-party property management on accruals and CAM calculations.
* Works with internal portfolio accounting team to review monthly fixed asset reports and bad debt trends and provides quarterly income projections.
* Assists in the due diligence process for development projects and potential acquisitions, including preparing financial projections and value-add strategies.
* Bachelor's Degree in Business, Commercial Real Estate, Accounting or Finance.
* 5+ years of commercial real estate asset management or regional property management experience in office and retail segments.
* Strong experience in commercial real estate leasing/brokerage, operations, acquisitions, and valuation processes.
* Must possess an entrepreneurial and customer-service driven approach to asset management.
* Highly developed interpersonal, analytical and communication skills (verbal and written)
* Proactive with detail-oriented and creative problem-solving approach
* Strong ability to prioritize workload and manage projects effectively in a time sensitive environment.
* Advanced Excel and Word skills. Yardi software and VTS software experience a plus
* Ability to flex and adapt work schedule to changing business demands.
* Ability to travel as necessary to visit assets for inspections and market tours.
* Demonstrate integrity and honesty and model ethical behavior and core values of the company- Quality, Service, Flexibility, and Integrity.
Physical Demands and Work Environment
While performing the duties of this job, the employee will regularly work inside an office; however, this position involves periodic outside work with construction site visits, property inspections, tours with lenders, buyers, etc.
Performance of these duties will require the physical ability to occasionally climb permanent and temporary stairs, passenger use of construction personnel hoists, ability to climb ladders and negotiate work areas under construction. Specific vision abilities required by this job include close vision, peripheral vision, depth perception and the ability to adjust focus.
Performing this job will require use of hands to fingers with the ability to handle, or feel objects, sit, talk and hear. It requires the employee to stand, walk, climb, balance, stoop, and kneel. Employee may occasionally lift and/or move up to 10 pounds.
Travel will be required so employee must have a valid driver's license and a good driving record in accordance with Armada Hoffler's Driver Qualification Policy.
Employee must be able to pass pre-employment and random drug screens and a background check.
Armada Hoffler offers competitive salaries, excellent benefits, and a professional and stimulating work environment. Furthermore, we are an equal opportunity employer and afford equal employment opportunities to employees and applicants without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We provide a smoke-free and drug free workplace and participate in E-verify.
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