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Portfolio Manager - Retail Centers

Salary
Competitive
Employment
Full Time
Work Place
Remote
Real Estate Field
Location
Pasadena
 CA
Postal Code
91106
Country
United States

This job is no longer active.

Description


Portfolio Manager – Retail Centers

Company Background: ExchangeRight provides real estate investments that are structured to provide long-term, stable income and asset preservation to accredited 1031, 1033, and 721 exchange investors. Our goal is to consistently deliver diversified tax-deferred exchangeable portfolios of long-term, net-leased properties backed by investment grade corporations. We target corporate tenants that successfully operate in the necessity retail and healthcare industries to provide investors with stable and predictable income.

 

ExchangeRight’s long-term exit strategy is to provide greater diversification and value to investors by combining multiple portfolios of investment grade, net-leased assets into a REIT to execute a public market sale, merger, IPO or listing. We currently have over $3.2+ billion in assets under management and are on pace to add over $600 million in additional assets under management each year. Our portfolio of more than 750 properties is diversified across 39 states. ExchangeRight and its affiliate Telos Capital strategically invests primarily in real estate projects throughout the United States targeting value-add and opportunistic returns for investors.

 

 

Position Information:

Telos Capital is seeking an operationally focused commercial real estate asset manager with significant retail experience as it grows its ownership of grocery-anchored shopping centers. Based in Pasadena, CA, Telos and its affiliate ExchangeRight Real Estate, with over $3.2 billion AUM, are expanding rapidly into opportunistic retail real estate investing and require a forward thinking, creative leader to further build out the department which will oversee this growing portfolio. Reporting to the Director of Asset Management, the Portfolio Manager – Retail Centers will be primarily responsible for overseeing the operations of multiple grocery-anchored neighborhood centers, to be managed at the ground level by local property management companies or through our in-house property management function.   This role can be performed remotely, although site visits to the properties will likely be required, as necessary.

Primary responsibilities will include:

·        Supervision of asset and property management team in some of their roles and direct oversight of multiple local property management companies to ensure best practices are always met and company standards are consistently achieved

·        Manage the leasing process to optimize revenue at each center including the utilization of Yardi to streamline the entire lease renewal and proposal process

·        Maximize value through active cash flow management

·        Development of a consolidation / reporting system to report financial performance to senior leaders at least monthly and investors quarterly

·        Ensure accuracy of all consolidated information prior to presentation

·        Provide yearly recommended capital budget to 1) address deferred maintenance, 2) meet leasing objectives, and 3) grow ancillary income

·        Support Net Lease property management team in their joint facilities management of anchor tenants

·        Maintain relationships with both anchors and inline tenants when applicable

·        Consistent evaluation of all vendor contracts to ensure costs are controlled

·        Regularly place major contacts out for bid

·        Monitor physical condition of assets to ensure they are properly maintained

·        Produce annual business plans and implement throughout the year, reporting on milestones reached

·        Produce annual operating budgets

·        Active management of operating budgets throughout the year to ensure costs are adequately controlled and revenue targets are met

·        Manage CAM reconciliation processes

·        Support the Director of Asset Management in meeting company objectives

·        Guide and mentor asset management staff assigned to the portfolio, oversee performance

·        Occasional assistance with acquisitions, primarily as an informational resource to that team

 

Requirements:

·        Seven to ten years in the management of commercial real estate, majority of which should be retail centers (neighborhood to super-regional)

·        Bachelor’s degree

·        Significant operational experience with direct responsibility for income and expense management, strategic planning

·        Financial acumen, ability to build and maintain cash flows in Excel or ARGUS

·        Understanding of DCF and other valuation concepts

·        Solid understand of the relationship between effective asset management and value maximization

·        Experience with leasing, financial reporting, business plans, and managing vendors

·        Desire to build a new department from the ground up, with both the experience and creative thinking skills required to do so

·        Data consolidation and reporting to senior executives

·        Strong sense of motivation, commitment to stakeholders

·        Yardi experience a plus  

 

 

What's in it for you:

  • Competitive compensation
  • Healthcare, vision, and dental benefits
  • Paid time off (15 days per year for the first two years, 20 days from years 3 – 5, and 25 days starting in year 6 of service)
  • Profit sharing and cash balance plan following 1 year of service.  Both plans are 100% company funded and have vesting requirements.

 

 

Job Sector


Not specified

 

Experience


7+ to 10 years


This job is no longer active.

Asset / Portfolio Management Pasadena Full Time CA Asset Management, Leasing, Property Management Analyst/Associate, Portfolio Management other