careers

Company

Associate, Asset Management

October 2019

Job Title: Associate, Asset Management

Date: October 2019

CIRE Equity is an entrepreneurial company focused on the creation and preservation of wealth through targeted investments in commercial real estate in the Western United States.

We are passionate about real estate, dedicated to hard work and strive for excellence in everything that we do. We aim to create an environment that encourages our employees to work hard, think creatively and excel. We value performance based on results and quality of work instead of the number of hours put in behind a desk or tenure. We are seeking likeminded individuals who share our attention to detail and passion for excellence to join our growing team.

POSITION : Associate, Asset Management

LOCATION : CIRE Equity – San Diego, CA

FULL-TIME/PART-TIME : Full-Time

DESCRIPTION : We are seeking an Associate, Asset Management who will assist in managing a portfolio of commercial properties. The Associate, Asset Management will report to the Senior Asset Manager. This individual will be a core part of the Asset Management Department and will be relied upon to closely monitor, maintain and enhance the financial performance of each asset. Specifically, the Associate, Asset Management is expected to perform tasks in all aspects of asset management including post-acquisition transition, property management, property leasing, operations and construction management oversight, implementation of value-add initiatives, performance analysis and disposition. An ideal candidate will achieve results through detail-oriented work, creating efficiency within the department, will be proactive and will take initiative in our fast-paced, ever-changing environment.

RESPONSIBILITIES:

  • Assist the Senior Asset manager with the implementation of property-specific business plans for a portfolio of properties.

  • Develop in-depth market knowledge for assigned product types and markets. Continuously monitor market trends and forecasts, new developments, and activity within each property’s submarket.

  • Screen potential tenants through background checks, financial data review and tenant interviews.

  • Prepare letters of intent andperform financial analysis of potential lease and sale transactions

  • Monitor & update property rent rolls and proactively manage upcoming lease expirations.

  • Manage individual tenant A/R for assigned properties and make recommendations to senior asset managers on suggested action steps.

  • Monitor and manage operating and capital expenses in conjunction with the property manager to ensure properties are operating within annual budgets

  • Assist with creation of annual operating budgets, in conjunction with executive team and property manager(s).

  • Perform periodic property site visits to ensure proper maintenance of assets and foster tenant and vendor relationships for assigned properties Maintain Asset Management specific spreadsheets

  • Assist with obtaining property insurance and ensuring vendor & tenants are in compliance with insurance requirements

  • Obtain specific documents required per entity upon acquisition

  • Liaise with Legal team to prepare documents for signature Assist with tenant on-boarding including file management, lender compliance, accounting updates, etc.

  • Assist senior asset manager with lease review and administration.

  • Assist with engaging & cancelling primary and secondary vendors

  • Assist with legal document preparation such as 3-day notices, demand letters and default notices as well as lock out procedures

  • Manage critical dates and deliverables

  • Assist with the collection of required items for draw requests from the lenders

  • Aid property manager(s) and accounting department in annual CAM reconciliations.

  • Perform miscellaneous administrative & property management tasks as assigned by Asset Managers

  • Participate in the creation and optimization of departmental processes and procedures, including developing a succession plan.

  • Responsible for tenant renewals, assignment requests, and other lease amendments

MANAGEMENT EXPECTATIONS

  • Maintain and enhance the value of assets under management.

  • Play a vital role in aiding the Asset Management department achieve its goals

  • Closely monitor organization systems such as spreadsheets and filing structure to ensure 100% accuracy

  • Proactively identify asset level and market level risks and communicate potential solutions to Asset Managers.

  • Develop strong knowledge of the portfolio of assets

COMPETENCIES

  • Self-motivated, inquisitive and passionate.

  • Strong interpersonal and communication skills.

  • Highly effective transactional and negotiation skills.

  • Strong analytical and strategic skills.

  • Ability to solve problems and deal with a variety of variables in unique situations where only limited standardization exists.

  • Detail oriented and able to maintain a high quality of work under pressure.

  • Ability to read and interpret legal documents such as commercial leases, CC&R’s, listing agreements, management agreements, loan agreements and service contracts.

  • Ability to write clear, professional reports and correspondence.

  • Excellent grasp of real estate financial statements including profit and loss statements, balance sheets and cash flow statements.

  • Highly proficient or capacity to learn real estate finance with ability to perform ad hoc financial analysis and calculate NOI, IRR and ROE.

  • Ability to assist in document preparation

  • Highly proficient in Microsoft Excel. MRI experience is a plus.

POSITION REQUIREMENTS

  • Bachelor's degree required; preferred concentration in business or finance.

  • 2+ years of experience in commercial (retail, industrial, office) real estate with a minimum of a minimum 2 years in commercial property management.

  • Real estate license is preferred but not required.

  • Ability to visit properties