Assistant Vice President, Asset Management

Easterly Government Properties•Washington, DC

About The Position

Easterly Government Properties, Inc. (“Easterly” or the “Company”) is a publicly traded Real Estate Investment Trust (REIT) focused primarily on the acquisition, development and management of Class A commercial properties that are leased to U.S. Government agencies. The Assistant Vice President of Asset Management is responsible for independently managing the overall operational and financial performance of their assigned portfolio of assets Works collaboratively with the Head of Asset Management Operations (direct supervisor) to achieve corporate asset management financial objectives and deliver value to shareholders Ensures operational compliance with SEC, Sarbanes-Oxley, and REIT regulations As required, coordinates and assists other departments, including Accounting, Acquisitions, Development, Corporate Finance, and Legal in support of their operations to achieve corporate objectives Independently develop strategic asset business plans and achieve operational goals for assigned portfolio of assets by: Communicating the asset-level strategy to and managing the local operational team(s) including property accountants, property managers, and building engineers Optimizing building system performance Controlling operating expenses Forecasting revenue streams in accordance with lease terms Proactively identifying and pursuing additional sources of revenue Analyzing and evaluating all leasing / releasing activities Developing capital plans for all building systems and equipment Annually, develop 5-year operating budgets supporting optimized building operations Create and maintain 5-year capital plans tracking contractual and general maintenance requirements to ensure long-term health and performance of assigned portfolio Prepare budget reforecasts, as required, to support corporate finance objectives Prepare detailed financial analyses to support recommendations to Senior Management on significant operational issues, capital expenditures, leasing activities, or other strategic initiatives On-board and manage lease novation process for newly acquired / constructed assets Responsible for all aspects of lease administration, including, but not limited to: Maintain compliance with all lease terms Ensure accurate and timely revenue collections Cultivate positive, long-term relationships with all tenant points of contact Maintain internal electronic lease files and abstracts Manage tenant disputes and claims Responsible for all aspects of building operations, including, but not limited to: Conduct periodic physical inspections of portfolio Ensure optimal building system performance Contract and oversee on-site personnel, such as property managers (internal and third-party), building engineers and vendors, in the operations of the building Collaborate with on-site personnel to troubleshoot issues and determine the best solution to resolve the issue Manage expenses in accordance with approved operating budgets Execute approved capital reinvestment projects Maintain compliance with all property-level loan covenants and restrictions Oversee all matters related to real estate taxes and appeals Support the Vice President of Leasing in the pursuit of all leasing activities within portfolio Serve as project management executive for lease renewal tenant improvement and reimbursable projects: Assemble project delivery team, including architects, general contractors, and any other required vendors Negotiate pricing and contracts for construction services Review, provide guidance, and approve architectural and mechanical plans Ensure all projects are completed on-time and on-budget Proactively identify potential tenant and/or operational issues to avoid protracted disputes or costly repairs Weekly, provide portfolio overview of activities to Senior Management to review any new or ongoing issues that require Senior Management attention Monthly, report to Senior Management on property level financial performance, with comparative analyses to budget, pro forma, previous operating history, and any other metrics as requested by Senior Management Monthly, report to Senior Management on the status of tenant reimbursable projects and approved capital projects Monthly, coordinate with Property Accounting on month-end closing activities, to include invoice approvals, expense accruals, variance reporting, etc. Periodically, coordinate with the Finance and Operations team to create and review the analyses that support the quarterly earnings model Meet reporting requirements for property level loans, to include providing financial statements, rent rolls and other reports as required As requested, participate in due diligence review of potential acquisitions with particular attention to assumptions regarding operations and operating expenses Review and recommend property managers and/or leasing agents for new acquisitions Coordinate with Acquisitions team to onboard acquired properties, including development of initial operating and capital budgets and completion of lease novation Assist Senior Management by identifying properties for disposition and preparing due diligence packages for properties slated for disposition

Requirements

Undergraduate degree, additional education preferred
10 to 15 years of relevant commercial real estate asset management experience
Strong understanding of advanced commercial real estate concepts and valuation techniques
Strong project management skills
Excellent verbal and written communication skills
Excellent planning, organization, and interpersonal skills
Ability to function independently within a collaborative, team-oriented setting
Attention to detail and ability to function under tight deadlines
Ability to work accurately and efficiently
Ability to handle multiple projects at one time
Strong sense of personal motivation and responsibility
Ability to clear GSA NACI & FBI LBI background checks

Nice To Haves

Experience preparing commercial real estate operating and capital investment budgets
Experience managing teams of peers and subordinates
Intermediate experience using Microsoft Excel
Experience using Yardi

Responsibilities

Independently managing the overall operational and financial performance of their assigned portfolio of assets
Works collaboratively with the Head of Asset Management Operations (direct supervisor) to achieve corporate asset management financial objectives and deliver value to shareholders
Ensures operational compliance with SEC, Sarbanes-Oxley, and REIT regulations
Coordinates and assists other departments, including Accounting, Acquisitions, Development, Corporate Finance, and Legal in support of their operations to achieve corporate objectives
Communicating the asset-level strategy to and managing the local operational team(s) including property accountants, property managers, and building engineers
Optimizing building system performance
Controlling operating expenses
Forecasting revenue streams in accordance with lease terms
Proactively identifying and pursuing additional sources of revenue
Analyzing and evaluating all leasing / releasing activities
Developing capital plans for all building systems and equipment
Developing 5-year operating budgets supporting optimized building operations
Creating and maintaining 5-year capital plans tracking contractual and general maintenance requirements to ensure long-term health and performance of assigned portfolio
Preparing budget reforecasts, as required, to support corporate finance objectives
Preparing detailed financial analyses to support recommendations to Senior Management on significant operational issues, capital expenditures, leasing activities, or other strategic initiatives
On-boarding and manage lease novation process for newly acquired / constructed assets
Maintaining compliance with all lease terms
Ensuring accurate and timely revenue collections
Cultivating positive, long-term relationships with all tenant points of contact
Maintaining internal electronic lease files and abstracts
Managing tenant disputes and claims
Conducting periodic physical inspections of portfolio
Contracting and overseeing on-site personnel, such as property managers (internal and third-party), building engineers and vendors, in the operations of the building
Collaborating with on-site personnel to troubleshoot issues and determine the best solution to resolve the issue
Managing expenses in accordance with approved operating budgets
Executing approved capital reinvestment projects
Maintaining compliance with all property-level loan covenants and restrictions
Overseeing all matters related to real estate taxes and appeals
Supporting the Vice President of Leasing in the pursuit of all leasing activities within portfolio
Serving as project management executive for lease renewal tenant improvement and reimbursable projects
Assembling project delivery team, including architects, general contractors, and any other required vendors
Negotiating pricing and contracts for construction services
Reviewing, providing guidance, and approve architectural and mechanical plans
Ensuring all projects are completed on-time and on-budget
Proactively identifying potential tenant and/or operational issues to avoid protracted disputes or costly repairs
Providing portfolio overview of activities to Senior Management to review any new or ongoing issues that require Senior Management attention
Reporting to Senior Management on property level financial performance, with comparative analyses to budget, pro forma, previous operating history, and any other metrics as requested by Senior Management
Reporting to Senior Management on the status of tenant reimbursable projects and approved capital projects
Coordinating with Property Accounting on month-end closing activities, to include invoice approvals, expense accruals, variance reporting, etc.
Coordinating with the Finance and Operations team to create and review the analyses that support the quarterly earnings model
Meeting reporting requirements for property level loans, to include providing financial statements, rent rolls and other reports as required
Participating in due diligence review of potential acquisitions with particular attention to assumptions regarding operations and operating expenses
Reviewing and recommending property managers and/or leasing agents for new acquisitions
Coordinating with Acquisitions team to onboard acquired properties, including development of initial operating and capital budgets and completion of lease novation
Assisting Senior Management by identifying properties for disposition and preparing due diligence packages for properties slated for disposition