PRI is the real estate investment advisor retained by PNC Bank, N. A., to manage a client's national commercial real estate portfolio comprising approximately 60 properties with a net asset value of approximately $5 billion. As a Senior Asset Manager, you will assume 'ownership' of the issues associated with the assets in your assigned portfolio, potentially including both stabilized assets and assets under development.
Company
PNC
Washington, DC
Responsibilities
- Preparing the annual strategic plan for each asset including developing leasing objectives, operating and financial budgets, and capital plans.
- With an appropriate sense of urgency, evaluating and resolving property operating issues and developing and implementing leasing strategies with third-party property management and leasing firms.
- Monitoring and reporting on asset operational and financial performance on an ongoing basis.
- Negotiating, reviewing and approving tenant lease documents and other asset-related agreements.
- Contributing to the preparation of quarterly asset valuations (appraisal reviews), performance reforecasts, and joint venture waterfalls.
- Preparing reports on your book of business and responding to special requests for information from internal and external clients, both through informal interactions and formal presentations.
- Developing, maintaining and leveraging relationships with partners/developers to achieve asset-specific strategies consistent with the clients' objectives.
- Engaging and directing third-party vendors, including contractors, property managers and leasing firms.
- Performing site visits and developing a strong understanding of the real estate markets in which assets are located.
- Participating in team initiatives to improve policies and procedures, property monitoring, and risk management processes.
- For assets under development, tasks include continually monitoring the project's 'on time' and 'on budget' progress; reporting on assets under development through regularly scheduled and ad hoc phone calls, site visits, development updates, and monthly draw/requisition reviews; reviewing the appropriateness of change orders and/or project upgrades, and processing the documentation for approval as appropriate; effectively managing third party relationships with partners/developers, construction consultants, and other stakeholders and monitoring the partner's/developer's compliance with the transaction documents.
Qualifications
- Real Estate Asset Management experience, particularly Multi-Family experience.
- Strong analytical, interpersonal, relationship management, and written/oral communication skills.
- High comfort level assertively dealing with equity partners.
- Self-starter with an ability to work independently and to meet deadlines and manage multiple projects simultaneously.
- Skilled at discounted cash flow modeling, including experience with Argus.
- Skilled at using Word and Excel.
Program / Center Affiliation
Job Type
Full-Time