Job Summary:
The Baltimore Development Corporation is the Economic Development arm of the City of Baltimore and is responsible for creating jobs, increasing the tax base, attracting and retaining businesses and acting as a catalyst for the creation of a sustainable economy. The Real Estate Lease & Asset Officer is key to assisting BDC meet these goals through the management of real estate assets owned and/or managed by the City, and private assets for which the City holds certain rights and responsibilities.
The Real Estate Lease & Asset Officer oversees the day-to-day operations of all leased and unleased assets in BDC’s real estate portfolio, including a legacy portfolio of lease and development agreements dating back 40 years or more. This work will occur under the direct supervision of the Director of Real Estate & Special Projects, to ensure that all tenants receive timely and effective issue resolution, complaints about vacant or nuisance properties are resolved quickly, and that non-vacant properties are maintained in a state of good repair.
Duties include:
Day-to-day Management of BDC’s real estate portfolio, including, but not limited to:
Maintaining tenant relationships, including identifying appropriate lessee points of contact for issues and lease-related manners
Monitoring tenant and landlord adherence to covenants and obligations contained within project agreements
Fielding maintenance/repair requests and ensuring that issues are addressed timely; interviewing, hiring, and coordinating with contractors and/or city-agencies as needed to address physical deficiencies and other maintenance issues that fall under landlord responsibility.
Assessing the condition of assets and identify necessary investments to keep them maintained in a state of good repair;
Manage Capital Improvement Budget for the maintenance and improvement of assets in the portfolio; manage the process for the selection and hiring of contractors and consultants, as needed, to prepare studies, plans/designs, or complete required work.
Prepare income and expense reports for all assets
Assist with potential tenant identification and leasing for available assets.
Assisting Director of Real Estate & Special Projects with
Preparation and review of legal and transactional documents related to BDC assets
Negotiating and facilitating the execution of amendments or other agreement modifications
Capital Improvement Program budget requests for maintenance of real estate assets
Maintaining an inventory of all available properties in BDC’s real estate portfolio
Maintain executed document filing system of executed documents related to BDC’s current and legacy property portfolio.
All other duties as assigned.
Key Qualifications
Experience with navigating landlord/tenant relations, including common issues surrounding lease payments, property maintenance and responsibilities, and novel issues that arise that are not contemplated in the lease documents.
Experience with maintaining, improving and/or securing property – including unoccupied property – including the review, selection and/or monitoring of contractors and consultants to perform work.
Ability to manage a small project budget, and to track and monitor income and expense for individual properties as well as the aggregate property portfolio.
Well organized, with the ability to adhere to filing and document retention protocols and quickly and efficiently locate requested documents and property details.
Ability to prepare clear and concise memos and summary documents and reports as may be required by BDC or other entities.
Communicates effectively both orally and in writing
Works well both in a team environment and independently, and maintains a positive attitude and demeanor.
Demonstrates strong, ethical character and passion for the organization’s mission
Education and Experience Requirements
A minimum of a Bachelor’s Degree in a related field from an accredited college or university and 2 to 5 years of experience in public or private Economic Development, Property/Asset Management or Real Estate Development, or an equivalent combination of education and experience.
To apply, submit cover letter and resume to Nancy Jordan-Howard, Chief Operating Officer, nhoward@baltimoredevelopment.com with “Asset Officer” in the subject line.
No Phone Calls Please. Not all applicants will be contacted.