Job Description
Commercial Real Estate - Asset Management Associate (Exempt)
About Us:
Shinyen is a premier commercial real estate company with an extensive portfolio of properties in diverse regions. Our unwavering commitment to delivering outstanding services in property management, leasing, and investment has fueled our active expansion. In line with our growth, we are actively looking for experienced, detail-oriented individuals to join our team and contribute to our continued success.
Job Overview:
We are actively seeking an accomplished and dedicated Asset Management Associate to join our Asset Department. This role is pivotal in driving improved performance, profitability, and the overall success of our shopping center portfolio.
As an Asset Management Associate, the primary mission is to optimize assets on behalf of our valued clients. This involves the astute management and strategic investment of investor assets. In close collaboration with the property management team, the Asset Management Associate will assist the Asset Manager in devising strategies to enhance the price per square foot for properties under their purview. They will engage with brokers to explore tenant opportunities, collaborate with the legal team to revise leases, curate an ideal tenant mix with guidance from upper management, oversee annual common area maintenance, actively contribute to budget formulation, provide vigilant supervision for common area reconciliation, etc.
The Asset Management Associate will consistently evaluate the portfolio and make necessary adaptations to align with dynamic market conditions. Encompassing roles such as investment adviser, the core objective remains steadfast: the unwavering pursuit of maximizing returns on the assets entrusted to their diligent care.
Key Responsibilities:
Financial Management
Manage and oversee the physical assets of the organization working alongside with property managers by planning, organizing, and directing operational activities
Assist in the development of strategic asset management plans
Develop and execute strategic financial plans to optimize the financial performance of shopping centers.
Monitor and analyze property financials, including rent rolls, budgets, and operational expenses.
Implement effective budgeting and forecasting processes.
Analyze vendor contracts and negotiate pricing, including property management and service agreements to ensure operational efficiency.
Tenant Relations
Cultivate and maintain strong tenant relationships.
Address tenant inquiries, concerns, and requests promptly.
Oversee lease negotiations, renewals, and relocations.
Ensure tenant compliance with lease terms and agreements.
Develops asset management plans for all assets, assessing the need for renewals, new purchases, or disposals
Property Maintenance and Improvement
Supervise property maintenance and ensure that facilities are well-maintained and presentable.
Manages leases and vendors, including transition of assets between contractors and service providers
Oversee capital improvement projects and renovations.
Coordinate with property management teams for property upkeep and enhancements.
Leasing and Occupancy
Manage leasing efforts, including identifying new tenants and negotiating lease agreements.
Optimize occupancy rates and minimize vacancies.
Collaborate with marketing teams to develop marketing strategies to attract and retain tenants.
Legal and Compliance:
Ensure properties are compliant with local, state, and federal regulations.
Manage legal matters related to shopping center operations, including lease disputes and property-related issues.
Reporting and Analysis
Generate regular performance reports, including financial analysis and property assessments.
Manage the physical asset’s maintenance budget by planning, organizing, and directing operational activities
Develop, implement, and maintain quality assurance protocols
Provide recommendations for enhancing property value and profitability.
Track market trends and assess the impact on the shopping center portfolio.
Risk Management
Ensure that all physical assets are in compliance with safety, environmental, & building codes
Reviews asset information, such as warranties, manufacturer warranties, maintenance and service agreements, and regulatory compliance.
Identify and mitigate risks associated with shopping center operations.
Assist in devising crisis management plans and emergency response procedures.
Qualifications:
Bachelor's degree in Business, Real Estate, Finance, or a related field (Master's degree or relevant certifications a plus).
Minimum of 2-4 years of commercial real estate and asset management experience, with a focus on shopping centers.
Strong financial acumen and experience in budgeting and financial analysis.
Proficiency in lease negotiations and tenant relations.
Knowledge of local real estate laws and regulations.
Excellent communication, negotiation, and problem-solving skills.
Ability to work both independently and collaboratively as part of a team.
Strong organizational and project management skills.
Proficient in property management software and financial analysis tools.