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Asset Management Associate
Seattle, WA
A rapidly growing, vertically integrated real estate private equity firm backed by an impressive and diverse network of advisors with expertise and leadership in real estate, retail, technology, and finance is looking for an Associate Asset Manager. This Associate is responsible for helping the Asset Manager develop and implement a strategy for an assigned portfolio of properties and help contribute to building the asset management platform.
Responsibilites
Responsible for assisting the Asset Manager drive the asset’s full lifecycle returns through intensive asset management and relentless pursuit of value-add.
Daily responsibilities include supporting the Asset Management team efforts to onboard new assets, develop the business plan, efficiently use capital, work with internal Leasing team to sign new tenants, oversee significant tenant improvement projects and/or construction projects, prepare quarterly reporting to senior management, and work with internal Investments team to dispose of the asset.
Responsible for assisting the Asset Manager in formulating and executing short-and long-term asset strategies while deploying the broader strategic objectives of the company. Professionally and effectively present recommendations and performance information to senior management and related partners.
Develop and maintain a strong understanding of retail properties, the time value of money, complex deal structures, real estate finance, leasing, property management, and construction.
Support the Asset Manager to develop, manage, and complete project budgets and schedules in accordance with Company approved budgets, schedules, and underwriting/yield requirements.
Help manage the coordination of design and construction activities such as architect, contractor, surveyor, and consultant selection. Work with the Asset Manager and Tenant Coordination/Construction Management to bring capital projects to successful completion. This may also include managing the permitting and entitlement process for active projects in development.
Provide support to the Asset Manager in preparing status updates on portfolio assets via relevant reports and supporting documentation on a regular basis to senior management and real estate committees.
Support the Asset Management team to identify at-risk projects and propose corrective solutions to senior management.
Requirements
Between 2-4 years’ experience in commercial real estate asset management or equivalent experience in the retail asset class, including the ability to assess the physical condition of a property, its marketability, and its management. Some experience with retail assets is strongly preferred.
A basic understanding of balancing equity and debt, the time value of money, real estate finance, and complex deal structures.
Exposure to managing third-party relationships such as attorneys, brokers, tenants, vendors, contractors, consultants, appraisers, etc.
Demonstrated ability to work independently, take initiative, set priorities, follow through on assignments, assess changing conditions, and make recommendations with supporting analysis.
Strong problem-solving skills, particularly in the face of ambiguity.
Self-motivated with an effective interpersonal and collaborative working style, along with a strong work ethic and a “roll up your sleeves” attitude.
Proficient Excel skills and familiarity with Google productivity tools.
Excellent analytical skills and a strong sense of urgency.
