Associate, Asset Management

Job Description

Job Description

Salary :

Title : Associate, Asset Management

Reports To : EVP, Head of Asset Management & Leasing

Location : Washington, DC

ABOUT ANCORA

Ancora is a premier investment manager of real estate and infrastructure associated with or proximate to anchor institutions and is headquartered in Washington, DC. Ancora is focused on assets anchored by leading universities, health systems, research institutions, and governments that are eager to collaborate and commercialize new ideas. Ancora harnesses the economic benefits of these anchor institutions engaged with their communities by building inspiring spaces and active places for the knowledge economy. Ancora is a rapidly growing organization dedicated to building a diverse and inclusive team, and we strive to foster belonging and empowerment at work.

Position Summary

Ancora is seeking a motivated and detail-oriented Associate, Asset Management to support the asset management team across its university affiliated real asset portfolio. This individual will contribute to executing asset strategies, tracking financial performance, supporting leasing and capital projects, and ensuring the long-term value of assets in a diverse portfolio of mixed-use, life science, academic, office, residential, and research assets, with an emphasis on delivering institutional returns aligned with long-term anchor institution partnerships.

Key Responsibilities

• Provide leadership and oversight for all aspects of an existing propertys performance for select assets.
• Assist with the Leasing, Property Management, and Accounting functions in preparing and revieing property-level financial reports, budgets, and forecasts.
• Develop with the Leasing and Property Management functions short- and long-term strategies designed to maximize the value / tenant satisfaction of each asset.
• Lead semi-annual property valuation process for select assets. As part of this process, perform market analysis and work with Leasing and Property Management functions, as well as outside sources (e.g., leasing, sales, and debt brokers), to develop leasing objectives, financial projections and operating / capital / redevelopment project plans. Coordinate report preparation, review, and delivery with third party valuation sources as required.
• Monitor property operating and financial performance to ensure established goals and objectives are being achieved. Discuss material variances with Property Management and Accounting functions, determine key drivers creating variances and appropriate corrective action to be taken to mitigate negative variances or changes in market conditions.
• Manage with the Leasing function the leasing activity of certain properties to include the creation of lease analyses, drafting proposals, negotiating economic / legal terms, and working closely with legal counsel in review of lease documents. Review and approve all applicable authorizations and lease documents prior to ownership execution.
• Review and approve pricing for capital / tenant improvement projects and contracting, then ensure that financial controls are in place during construction, including reserve draw procedures.
• Support investor and lead property level lender relations. Ensure that partnership and loan document requirements are satisfied.
• Provide support to Portfolio Management for capital transactions, including refinancings and dispositions. Work with Acquisitions and Development functions to integrate newly acquired or developed properties into the portfolio.

Qualifications

COMPENSATION

Compensation includes base salary and incentives. The company provides a 401k match, employee health insurance, and flexible PTO. Ancora benchmarks compensation decisions using the CEL National Real Estate Compensation & Benefits Survey.

At Ancora, we are committed to building a team that is representative of many backgrounds, perspectives, ages, and skills. We are proactively investing in hiring, inspiring, and developing a diverse team. We are creating an organizational culture where everyone experiences a deep sense of belonging and inclusion, and we are building equitable practices and policies, both internally and externally. We recognize that diverse and inclusive teams make the strongest teams, and we encourage people from all backgrounds and protected classes to apply.

Ancora is an Equal Opportunity Employer and Prohibits Discrimination and Harassment of Any Kind : Ancora is committed to the principle of equal employment opportunity for all employees and to providing employees with a work environment free of discrimination and harassment. All employment decisions at Ancora are based on business needs, job requirements and individual qualifications, without regard to race, color, age, religion or belief, family or parental status, gender identity, sexual orientation, or any other status protected by the laws or regulations in the locations where we operate. Ancora will not tolerate discrimination or harassment and will work proactively to promote diversity, equity, and inclusion throughout its business.