Real Estate Asset Manager
Real Estate Asset Manager
Tucson, Arizona
Are you ready to have full day-to-day responsibilities for a $100,000,000+ real estate portfolio?
This position is responsible for the day-to-day and strategic operations of a growing portfolio of large, mixed-use properties. The portfolio is characterized by its breadth of tenancies, from large Fortune 500 companies to the local gourmet restaurant, and its spectrum of uses, including retail, restaurants, office, industrial, entertainment, multi-family, and single-family residential. A flat organization means that you will be hands-on and the CEO with full business unit responsibilities.
About Bourn Companies, LLC: We are a commercial real estate development company that builds mixed-use projects incorporating residential communities, a heavy dose of retail and restaurant space, office buildings, hotels, and related uses such as medical, logistics, and entertainment. Rather than deliver a collection of buildings, we strive to provide a unique environment that offers our clients and guests a superior lifestyle. We invest in applications that can uniquely drive a sense of place, such as parks, entertainment, food, and technology.
These projects' complexity requires multi-functional teams with deep knowledge within their area of expertise and the context to understand how their function fits within the “big picture” of each project. We have internal teams focused on marketing, leasing/deal-making, project management, design, legal, accounting/finance, property asset management. The cross-pollination creates an energetic and dynamic environment that develops a deeper and well-rounded skill set for our team members.
Property Asset Management Team: This team significantly contributes to each operating project's success by setting a clear strategy and execution plan to maximize operational cash flows, asset values, and tenant relationships-- all key components to the overall success of our business.
- Strategic Planning: An annual strategic plan is created in conjunction with each of the other teams to ensure we have full buy-in and a deep understanding of our ability to execute within each project’s market. Appropriate capital strategies are considered in conjunction with the CFO.
- Day to Day Execution: Once strategic and execution plans are set, the team works daily to implement each important area of the plan, including regular interaction with portfolio tenants to respond to any potential issues and ensure excellent relationships are maintained. The team also hires and manages all vendors to operate the properties and works closely with the Accounting/Finance Team to manage each property's financial aspects within the portfolio actively.
Role: This role is the day-to-day operations manager for the Property Asset Management Team. You will be responsible for 1) the portfolio of operating properties 2) all management of the Property Operations Team 3) day to day, first-hand execution of critical property level tasks, and 4) input to the company owners on all important decisions affecting your team and portfolio. You will work closely with each of the other teams in the planning and execution of your projects. Upon mastery of all of the key functions of the role, you will act as the CEO of a $100M-$200M company, given that your portfolio of projects will be valued at that.
How you’ll spend your time here: This position requires you to be highly organized and structured, yet with an ability to react to ever-changing conditions that inevitably occur. Some important aspects of your role include:
- Leader: As the Property Operations Team leader, you will be tasked with managing each property to high quality, institutional standard. You will create property strategic plans and have full property level financial responsibility, including annual budgets, cash flow forecasts, common area maintenance expense reconciliations, and financial statement review.
- Reporting: Each month, along with the Accounting/Finance team, you will prepare comprehensive financial and project reports for our capital partners. This includes operational summaries, variance reports, and current cash flow forecasts. These reports are a vital piece of communication to our capital partners and help to tell the story of our strategic plans.
- Market Understanding: You will need to monitor market trends in relation to the strategic plans proactively, always ensuring that we maximize asset value while mitigating potential risks. While the strategic and execution plans are to be completed, and other functional teams collaborate, you will take a vital role in the organization and track progress.
- Team: You will build and manage a high performing operations team with talent that you identify, recruit, and train, and 3rd party vendors with which you choose to partner with.
- Tenant Relationships: It is essential to build on the long-term tenant relationships to make Bourn a “Landlord of Choice.” As lease expirations occur, you will lead the lease renewal process.
- Legal Compliance: You will develop a deep understanding of legal documents and contracts, as you will be reviewing, negotiating, and adhering to leases, management agreements, operating agreements, listing agreements, vendor contracts, loan documents, and construction contracts.
Culture: The company's success has created many great opportunities, which means there are also plenty of opportunities for each team member to contribute. Your role is critical to each project's success. Those contributions are maximized by relying on each team member’s individual strengths and integrating them into a cohesive team. We don’t build in a lot of excess capacity, so there is not much downtime. We are a company motivated for extraordinary success and expect each team member to have a similar motivation for the company and themselves. Our work hours are meaningful, but not overwhelming, as we work until a particular job is done. While we are deadline-driven, we work hard to ensure that important (and not so important) personal events are not missed. We hope that our work has a meaningful and positive impact on each employee. We take pride in our people and their families' accomplishments as we continue to maintain the culture of a small, close-knit group.
What we are looking for: We want to grow terrific leaders. Specific experience is less important than a set of fundamental skills and characteristics. We are looking for people who have found a way to be consistently successful in competitive and challenging environments…such as school, sports, and work.
- Skills:
- Written and oral communication skills to effectively communicate with day-laborers to the C-suite
- Organizational skills to efficiently prioritize activities
- Financial skills to both produce and review sophisticated spreadsheets and reports
- Management skills to organize and lead teams
- Relationship skills to cultivate strong and lasting relationships
- Characteristics:
- Desire and ability to quickly learn, retain and apply detailed information
- Drive to be highly successful with a work ethic to match
- Uncompromising integrity and ability to gain trust
- Attention to detail with an appreciation for precision
- Open-minded to the possibility of what is possible
You don’t need to be the CEO when you arrive. Still, we expect you to grow into the role with some intense learning and guidance, and then, like any great CEO, build an accelerating business that provides an unmatched opportunity for professional growth.
www.bourncompanies.com