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Director of Asset Management in Oakland

Director of Asset Management in Oakland

Energy Jobline ZROakland, CA, United States
13 hours ago
Job type
  • Full-time
Job description

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Job Description

POSITION SPECIFICATION

DIRECTOR OF ASSET MANAGEMENT

Shine Associates, LLC has been retained to search, identify, and recruit a Director of Asset Management to join our client (‘Company’).This position will be based in the Oakland, CA office.

CONFIDENTIALITY

Shine Associates, LLC has been exclusively retained on this assignment. Information contained in this position specification as well as any other information concerning our client provided or verbally discussed is confidential. All materials and discussions are to be utilized for the sole purpose of a candidate’s personal review of the career opportunity.

CLIENT DESCRIPTION

Our client and its affiliated entities comprise a fully integrated principal investment firm focused exclusively on multi-tenant light industrial real estate. Since 2005, its affiliates have sponsored a series of investment vehicles dedicated to the light industrial sector including value-add and core-plus strategies. With its footprint, the company is one of the premier institutional industrial operators and fund managers.

The Company and its affiliated entities make-up a vertically integrated real estate operating company, which has demonstrated an ability to manage investments, operations and dispositions through market cycles. The Company believes its ability to quickly analyze, complete due diligence and close acquisitions sets it apart from other fund managers and operators. The Company attempts to add value by stabilizing under-managed or distressed assets, aggregating a critical mass of industrial properties and adding institutional quality management to an inefficient asset class. The company’s investors include large pensions, insurance companies, endowments, foundations and family offices.

KEY RESPONSIBILITIES

Business Plan / Property Level Reporting

  • Set annual performance goals – budgeted NOI, gross leasing targets, net CF. Create annual business plan for each asset.
  • Oversee, review and sign off on annual property level budgets.
  • Produce quarterly asset reports summarizing property level performance, market activity, recent leases, construction activity and property “watch list issues.”
  • Participate in monthly and quarterly property management operations calls.
  • Provide strategic decision making as needed (e.g. tenant issues, capital / R&M). Provide quarterly write up for internal use.

Leasing

  • Working with 3rd party brokers negotiating leases, tracking leases and ensuring final execution. Managing internal leasing team if any.
  • Lease Analytics – NER, budget vs actual (in VTS) for every deal, Ensure lender compliance with all leases.
  • Provide credit analysis of prospective tenants as needed.
  • Capital / Project Management

  • Oversee management of capex projects by CM and PM team. Serve as the lead on projects not under PM oversight (e.g. redevelopment, rezoing etc)
  • Tracking all vacant units and MR projects. Ensure that the team is delivering units to meet leasing goals and expectations.
  • Valuation

  • Maintain on-going sale and lease comps database for relevant transaction in each property submarket.
  • Provide inputs (MLA, capital) for quarterly valuations. Review and sign off on final FMV value.
  • Acquisition

  • Manage on-boarding plan with property management team. Ensure business plan is proceeding on schedule and tracking UW budget.
  • Dispositions

  • Manage disposition process for assets identified for sale
  • Participate in the selection of the sales broker. Negotiation of the sales agreements
  • Portfolio Management

  • Review and sign off on quarterly FMVs
  • Direct hold / sell analysis on an on-going basis.
  • Present quarterly and annual business plans to IC
  • Refinance decisions during hold period
  • Approve future capital calls
  • Quarterly property tours.
  • COMPENSATION & BENEFITS

    The expected annual base salary range for this role is $225,000 - $250,000. Actual base salary will be determined by several components, including but not limited to : relevant experience, skills and qualifications, base salary of internal peers, and geographic location. In addition to base salary, this role may be eligible for a discretionary annual bonus and a variety of financial, wellbeing, and health / welfare benefits.

    CONTACT INFORMATION

    Shine Associates, LLC

    45 School Street, Suite 301

    Boston, MA 02127

    www.shineassociatesllc.com

    Kelsey E. Shine, Associate Director Hillary H. Shine, Principal

    Shine Associates, LLC Shine Associates, LLC

    Kelsey@shineassociatesllc.com Hillary@shineassociatesllc.com

    (508) 494-6569 Mobile : (203) 613-3562

    If you are interested in applying for this job please press the Apply Button and follow the application process. Energy Jobline wishes you the very best of luck in your next career move.

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    Director Of Asset Management • Oakland, CA, United States

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