Open Position: Asset Manager
Position Overview:
The Asset Manager will be responsible for strategically managing the firm’s existing urban real estate investments so that asset values and investment returns are optimized. MacFarlane Partners’ urban program invests in office, retail, multifamily and mixed-use assets – including existing properties and development/renovation projects — in urban and high-density suburban locations of major metropolitan areas nationwide.
Responsibilities:
• Strategically manage relationships with development partners and tactically implement joint-venture business and investment plans.
• Direct the performance of the assets relative to original underwriting strategies/business plans, competitors, and changing market conditions in order to maximize revenue. Develop strategic business plans and budgets, analyze market conditions and forecasts, develop timelines, prepare quarterly and annual valuations, and evaluate hold/sell decisions annually. Identify factors contributing to changes in valuation; perform quarterly and annual hold/sell analysis and ad hoc sensitivity analysis.
• Interview, engage, and supervise third-party property managers, leasing agents, and listing agents. Conduct regular conference calls, hold on-site inspections of assets and competitive set, and lead regular meetings to monitor third-party service provider performance and provide direction to the team.
• Monitor income, expenditures, net operating income (NOI), and annual budget process, and make necessary operational adjustments as necessary to maximize NOI.
• Review property operating reports and identify any asset management issues that could impact operating performance. Modify practices or implement operational changes necessary to proactively manage the assets.
• Review and negotiate agreements, including leases; third-party contracts; architectural, construction, consulting, purchase & sales documents; and other agreements where applicable.
• Supervise leasing efforts, make appropriate recommendations, work with leasing agent to maintain occupancy yet establish aggressive rates, and maintain tenant relations.
• Work with and manage attorneys to effectively resolve any legal issues.
• Oversee and monitor completion of any capital improvement projects.
• Manage annual appraisal process and quarterly valuation process, as well as annual hold/sell analyses, for managed assets.
• Maintain accurate and detailed files, agendas, working lists, and notes, providing all necessary documentation for decisions as required, including timely and accurate reporting.
Qualifications:
• A minimum of eight to 10 years of related experience, including prior experience as an investment/asset management professional for a real estate company, preferably with multiple classes of assets (retail/residential) in multiple strategies (e.g., development, value-added, core).
• Possess strong working knowledge of mechanics of real estate, including title-holding entities, building systems and design, purchase and sale processes, financial analyses, market analyses, and relationship management.
• Understand real estate investments from a return-based, performance-based perspective, including NCREIF and IRR calculations.
• Understand the impact of capital-market and private real estate market trends on the ongoing management and strategic direction of the assets.
• Possess effective written and verbal communication skills for interacting with clients, joint-venture partners, construction consultants, brokers, legal and risk-management professionals.
• Good analytical and negotiating skills, with a sharp focus and attention to detail.
• Solid knowledge and application of valuation methods, including ARGUS.
• Highly motivated and capable of working both with a team and independently, with minimal guidance.
• Capital-market experience, securing and closing loans is a plus.
MacFarlane Partners is committed to employing a diverse workforce. We value and actively seek to recruit, develop and retain people with backgrounds, experiences and perspectives that reflect the full diversity of our society.
For consideration, please send your resume to:
Human Resources
MacFarlane Partners
201 Spear Street, Suite 1000
San Francisco, CA 94105
Or e-mail us at careers@macfarlanepartners.com.
