Director - Asset Management

Hines•San Francisco, CA

1d•Onsite

About The Position

As a Director – Asset Management with Hines, you will be a critical part of the Asset Management team on all new acquisitions and existing assets across a geographic market-based, product type diverse portfolio. At this level, three options exist for career progression in asset management at Hines: Director-level asset managers may be generalists supporting a portfolio with 1 to 3 product types including office, industrial, and retail/mixed-use. Director-level asset managers may become Living sector product specialists that report within the Living sector Asset Management function with a portfolio of living assets only. Director-level asset managers may develop non-living product type expertise and “double hat” overseeing a portfolio and serving as an expert resource for the Americas Asset Management platform for that product type.

Requirements

Bachelor's degree in Business Administration or equivalent from an accredited institution.
Four or more years of experience in the commercial real estate industry with a preference for multi-family asset management experience (if pursuing product specialization within the Living sector) with responsibility for financial analysis, leasing/marketing activity oversight, and execution of strategic plans.
Experience leading and managing a team and mentoring team members.
Proficiency with Microsoft Office and Argus valuation software essential.
If Living sector, Proficiency with Entrada, AIRM/RealPage, RedIQ, and REBA strongly preferred.
Possess the highest degree of integrity.
Be a risk taker.
Effective interpersonal communication (verbal and written) and listening skills.
Analytical problem-solving skills capable to undertake detailed analyses and make well-reasoned, decisive recommendations.
Own one’s decisions.
Perform complex financial analyses, explain economic and accounting considerations, review and manage operating budgets.
Project management (budget, schedule, problem solving).
Demonstrate prioritization, organization, and time management skills necessary to balance competing deadlines.
Ability to multi-task in a complex high-volume environment and competency to work with all levels of management and personnel on critical projects.

Nice To Haves

If pursuing product specialization within the Living sector

Responsibilities

Lead the creation of short- and long-term asset strategies with the Leasing and Operations/ Property Management teams. All strategies should be designed to maximize asset value and optimize customer satisfaction.
Oversee periodic valuations of each asset in conjunction with Finance; Asset Management will be responsible for authoring the model that reflects current contractual revenues, operating expenses, as well as projections for speculative income and related costs, capital expenditures, market-based growth assumptions, etc. You will be responsible for obtaining approval for assumptions and ensuring the accuracy of the underlying model.
Address mid-level issues within the portfolio with measured, data-driven, independent decision-making. Communicate high-level issues along with recommended solutions to the Managing Director – Asset Management.
Develop a deep understanding of the asset’s performance in comparison to its competitive set, evaluating real estate and capital market trends and providing a data-supported evaluation of performance to Asset Management leadership.
Understand the current value and projected future performance of each asset within the context of investor goals and objectives; review analyses to make hold/sell recommendations to Asset Management leadership.
Create periodic property valuation analyses for each asset, supported by market analysis.
Review detailed leasing objectives, operating and financial budgets, project plans, and annual plans developed by Asset Management Associates and provide necessary feedback to course-correct as appropriate in arriving at a well-supported property valuation.
Establish clear, challenging for onsite property management teams to elevate asset performance.
Monitor property operating and financial performance to ensure established goals and objectives are being achieved.
Discuss material variances with Associates and Analysts to determine key drivers and identify potential pathways to mitigating unfavorable performance variances.
Prioritize implementation of firmwide ESG and sustainability goals.
Explore innovative opportunities to enhance and expand ESG and sustainability initiatives.
Solve mid-level asset issues with a sound, creative approach to problem solving.
Oversee Associates to ensure that partnership and loan document requirements are satisfied.
Encourage Leasing and Property Management teams to deploy smart risk-taking to deliver distinguished returns.
Consider review comments of Associates and along with independent review, approve all monthly, quarterly, and annual property reporting required by Owner and Lender, raising any potential concerns to Managing Director – Asset Management.
Manage the leasing activity of certain assets to include leasing agent selection and management, commercial lease analyses, drafting proposals, negotiating economic/legal terms, and working closely with legal counsel in review of lease documents; review and approve all applicable authorizations and lease documents prior to ownership execution.
Conduct due diligence and assist in closing new business pursuits; work effectively with business generation colleagues in the geographic market.
If product type specialist, function as expert resource across Americas Asset Management platform.
Comply with all Hines policies and procedures.
Mentor and train Analysts and Associates in the Hines culture and best practices.
Motivate property management teams with servant leadership.
Be a great teammate with a focus on the client-centric asset management function.
Mentor / coach analysts and associates to develop deep understanding of Hines, Asset Management best practices.
Demonstrate the ability to manage change at an organizational and strategic level as an effective teammate.
Demonstrate a high degree of integrity and forethought in decision-making, with the ability to act in a transparent and consistent manner, always considering what is best for the investor, customer, team and organization.
Demonstrate the ability to act in the best interest of the company, the investor, and the asset, ensuring alignment of actions with organizational goals and values.
Analyze Americas-wide reporting packages that cover historical, current, and projected operating and financial performance.
Activate creative measures as the asset level with management services, leasing, and other disciplines to effectively and meaningfully grow Net Operating Income (NOI).
Utilize Hines standardized reporting practices to enhance proactive communication with transparency, consistency and accessibility of information.