JOB TITLE: Asset Manager JOB TITLE: Asset Manager DEPARTMENT: Asset Management REPORTS TO: Director of Asset Management STATUS: Full-Time, Salaried, Exempt About the Role The Asset Manager plays a critical role on the Asset Management team, focused on enhancing the long-term value of real estate properties through revenue growth, operating expense control, strategic capital deployment, debt management, and risk mitigation. Key responsibilities include determining asset value, identifying each asset’s highest and best use, and executing strategic plans that improve performance. The department’s mission is to successfully lead all components that contribute to value creation across a portfolio of real estate assets and to tactically direct each component to deliver strong near-, mid-, and long-term outcomes for ownership. The Asset Manager will advance this mission while upholding Weston’s Core Values and supporting optimal portfolio performance and value creation. What You Will Do Asset Management - Lead post-closing acquisition meetings and one-year PAR reviews, comparing results against original underwriting assumptions.
- Lead quarterly rolling 12-month reforecasts and assist Treasury with cash forecasting.
- Prepare capital calls.
- Continuously monitor financial performance and develop strategic recommendations to maximize each asset’s financial return.
- Periodically evaluate the company’s real estate holdings to identify underperforming assets and recommend alternatives to ownership.
- Maintain NAV/GAV schedules for all assets within the assigned portfolio.
- Prepare executive summary packages for all assets within the assigned portfolio.
- Lead investor relations for assigned partnership properties by providing information and forecasts in accordance with joint venture agreements.
- Analyze and summarize all property budgets during the budget process, with an emphasis on multi-year NOI variances.
- Review and finalize annual property capital budgets, including building and tenant improvements and lease commissions.
- Monitor debt compliance related to leases, capital improvements, reporting requirements, and DSCR triggers.
- Support efforts to maintain the REO schedule.
Marketing & Leasing - Provide insight and leadership in developing marketing and leasing plans.
- Lead internal and external transaction teams through effective motivation, direction, and accountability.
- Provide direction and decision-making for new and renewal lease deals, considering all relevant variables in support of the department’s mission.
- Prepare lease analyses for key business and legal terms, as needed.
- Negotiate lease terms, as needed.
- Prepare lease packages for ownership approval, as needed.
- Finalize and approve lease assumptions for each asset within the assigned portfolio.
Property and Project Management - Provide insight and leadership in developing property operating budgets.
- Lead internal and external property and project management teams through effective motivation, direction, and accountability.
- Provide direction and decision-making for capital and operational initiatives, considering all relevant variables in support of the department’s mission.
- Negotiate and finalize service provider leasing and management agreements.
- Monitor accounts receivable matters and provide direction as needed.
- Review monthly operating statements and variance reports.
- Review and approve CAM calculations provided by service providers.
Skills - Proven ability to lead and collaborate effectively across teams and with internal and external partners.
- Excellent written and verbal communication skills, with the ability to present complex financial information clearly and persuasively.
- Strong analytical and problem-solving abilities with exceptional attention to detail.
- Highly organized, with the ability to manage multiple priorities in a fast-paced environment.
- Demonstrates initiative, sound judgment, and professionalism in all interactions.
- Driven, self-motivated, and aligned with the company’s Core Values.
Education and Experience - Bachelor’s degree in business, finance, or a related field required; MBA preferred.
- Minimum of 7 years of commercial real estate experience required.
- Substantial knowledge and experience in transaction structuring, real estate and financial market analysis, and capital planning.
- Previous experience with underwriting and financial modeling.
- Previous experience interpreting complex term sheets, financing documents, lease agreements, and joint venture documents.
- Understanding of real estate methodologies.
- Previous experience interpreting and presenting operating statements, balance sheets, and cash flow statements.
- Previous experience with MRI software and Argus preferred.
Physical Demands and Work Environment - This role primarily operates in a professional office environment and routinely uses standard office equipment.
- Ability to travel as needed. The position may occasionally require work outside of the office, including property visits or meetings with external stakeholders.
- While performing the duties of this job, the employee is regularly required to remain stationary at a desk for extended periods, communicate effectively, and move about the office. Must be able to lift, carry, push, or pull up to 15 pounds.
- This is a full-time position. Workdays are Monday through Friday. Longer hours and occasional weekend work may be required based on business needs.
At Weston, Inc., we foster a dynamic and collaborative work environment where everyone is valued and respected. We are committed to diversity and inclusion, ensuring equal opportunities for all employees. Discrimination or harassment based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic is strictly prohibited by federal, state, and local laws. This extends to all aspects of employment, including hiring, recruitment, promotion, termination, layoff, recall, leave of absence, compensation, benefits, training, and apprenticeship. Our hiring decisions are based solely on qualifications, merit, and business needs at the time.
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