Our Client is a privately held developer, manager, and owner of commercial real estate with four decades of experience within all asset classes. The Company currently owns and manages a portfolio of properties in the retail, multifamily, net lease, and garage and office sectors, in addition to land parcels held for future development. Since inception, their disciplined investment approach has produced a successful track record investing and developing commercial real estate throughout the United States.

KEY RESPONSIBILITIES:

• Responsible for the asset management of a portfolio of real estate assets, with a particular focus on retail shopping centers and other commercial asset classes.
• Continuously evaluate performance of the portfolio and develop property specific plans to ensure that the portfolio’s operations are being maximized.
• Implement short, intermediate, and long-term strategies, designed to sustain, or improve the value of the portfolio to maximize short-term distributable cash flow and increase long-term economic value.
• Monitor performance on a “hands on” basis, visit assets as frequently as required in order to be fully aware of and effectively oversee property performance.
• Maintain a thorough understanding of all factors affecting markets and submarkets associated with assets in the portfolio.
• Develop a working knowledge of leases, loan documents and other agreements for general responsibilities.
• Communicate frequently with the asset’s property managers to understand property operations, tenant matters and anticipated budget deviations.
• Interface with loan servicers and ensure loan compliance.
• Report on performance, budget variances and significant changes in market and property conditions.
• Prepare property business plans, operating and capital budgets.
• Review and critique operating statements, annual marketing plans and annual capital plans among other regular and special reports.
• Analyze and monitor capital improvement and renovation programs, as required, for property maintenance, competitive positioning, or market re-positioning.
• Assure owner funded projects are completed on time and within budget in cooperation with in-house resources and third-party consultants. Owner funded projects may include comprehensive property renovations, expansions, and property repositioning.
• Communicate continually with the senior members of the firm to apprise appropriate individuals on issues/decisions impacting assets.
• Monitor lease administration, tenant renewals, and operational requirements. Interface with tenant representatives, as necessary.
• Participate in company and department-wide initiatives that may include evaluation (due diligence) of properties for acquisition or disposition among other recurring and non-recurring events.

KEY ATTRIBUTES/EXPERIENCE:

• Minimum of seven to ten years of relevant real estate asset management experience with particular focus on retail and other commercial asset classes.
• Appropriate educational credentials.
• Substantial experience with equity investments as a principal, across all property types in multiple geographic regions, with a particular focus on retail.
• Ability to create and implement asset repositioning strategies and manage execution of same.
• In-depth understanding of property operations and leasing.
• Experience bidding and overseeing construction projects for both asset and tenant improvement projects.
• Strong valuation, due diligence, and real estate financial analysis skills.
• Market analysis skills to support decisions concerning rent rates, capital improvement programs, leasing strategies and property repositioning.
• Superior oral and written communication skills, strong presentation, and process management skills.
• Strong work ethic. Ability to multi-task, solve problems and work independently with minimal guidance.
• Well-organized. Strong administrative skills.
• Fluent in Yardi, ARGUS and Excel.

About Poline Search Partners

Poline Search Partners is an international executive search firm specializing in the shopping center industry. We serve property owners, developers, retailers and service providers who are seeking remarkable talent and work to align them with candidates who are eager for new growth opportunities. Since 1979, our team has been connecting companies and candidates with a commitment to integrity and client satisfaction—making us the industry’s most trusted leader in recruitment.

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