Assistant Vice President, Asset Management, MOB & Commercial

About the position Heitman is seeking an experienced Asset Manager to join our team. The ideal candidate will bring their subject matter expertise within the Medical and Commercial property sectors to our North American private equity team to proactively manage these assets within our clients’ portfolios. This role will be highly collaborative, and the successful candidate will be expected to build effective relationships with both internal teams within Heitman (including Portfolio Management, Acquisitions, Financing, and Financial Operations & Analysis), as well as effectively partner with external stakeholders including leasing and property management agents, venture partners, and clients. Responsibilities include, but are not limited to: Manage a multi-property real estate portfolio focused on Medical Office Buildings and Commercial assets. Devise and implement asset management strategies, including income and expense maximization, leasing, capital expenditures, financing/refinancing, hold/sell, and value creation, applying both qualitative and quantitative analysis. Monitor market conditions at both a macro and micro level to proactively direct the successful performance of the investments. Oversee the preparation of annual budgets, business plans, internal valuations, and quarterly reporting. Evaluate investment performance against budgets, business plans, and internal and external benchmarks. Work closely with Heitman’s Data Analytics and Financial Operations and Analysis teams to inform asset level strategy and drive performance. Partner with and oversee third parties performing the day-to-day operations of the assets. Conduct regular property inspections to identify property risks and opportunities, evaluate operational performance of third-party teams, and understand market dynamics; communicate findings. Communicate recommendations and results both orally and in writing to clients, Heitman’s Investment Committee, portfolio managers, Asset Management leaders, and sector specialists. Support Heitman’s Acquisitions and Research teams for new investment underwriting and diligence, providing market and leasing input and participating in due diligence activities, as necessary. Ensure compliance with a variety of legal documents, including joint venture agreements, loan agreements, and investment management agreements. Coordinate as necessary the hiring of third-party agents, such as appraisers, brokers, property managers, leasing agents, and legal counsel.

Responsibilities

• Manage a multi-property real estate portfolio focused on Medical Office Buildings and Commercial assets.
• Devise and implement asset management strategies, including income and expense maximization, leasing, capital expenditures, financing/refinancing, hold/sell, and value creation, applying both qualitative and quantitative analysis.
• Monitor market conditions at both a macro and micro level to proactively direct the successful performance of the investments.
• Oversee the preparation of annual budgets, business plans, internal valuations, and quarterly reporting.
• Evaluate investment performance against budgets, business plans, and internal and external benchmarks.
• Work closely with Heitman’s Data Analytics and Financial Operations and Analysis teams to inform asset level strategy and drive performance.
• Partner with and oversee third parties performing the day-to-day operations of the assets.
• Conduct regular property inspections to identify property risks and opportunities, evaluate operational performance of third-party teams, and understand market dynamics; communicate findings.
• Communicate recommendations and results both orally and in writing to clients, Heitman’s Investment Committee, portfolio managers, Asset Management leaders, and sector specialists.
• Support Heitman’s Acquisitions and Research teams for new investment underwriting and diligence, providing market and leasing input and participating in due diligence activities, as necessary.
• Ensure compliance with a variety of legal documents, including joint venture agreements, loan agreements, and investment management agreements.
• Coordinate as necessary the hiring of third-party agents, such as appraisers, brokers, property managers, leasing agents, and legal counsel.

Requirements

• Minimum 7 years of real estate experience with at least 3 years of real estate asset management experience.
• Experience with either Medical Office Buildings or Commercial property types is required.
• Strong interpersonal skills with an ability to collaborate with others.
• Ability to communicate complex issues clearly and professionally, both verbally and in writing.
• Strong analytical skills and experience with cash flow modeling and analysis, budgeting, financial reporting, and interpreting data.
• Creative problem-solving skills for defining, developing, and executing asset management strategies.
• Understanding of standard real estate practices and investment trends.
• Knowledge of construction and redevelopment terminology for overseeing the budgeting and planning of capital projects.
• Working knowledge of legal terminology for interpreting and negotiating a variety of real estate agreements.
• Ability and desire to utilize industry expertise and leadership skills to mentor junior team members.
• Understanding of the various real estate valuation approaches and techniques.
• Strong financial modeling skills (ARGUS, Microsoft Excel); experience with Power BI is a plus.

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