Real Estate Asset Manager, Industrial

The Church of Jesus Christ of Latter-day Saints•Salt Lake, UT

About The Position

Property Reserve is hiring a Real Estate Asset Manager for its industrial portfolio. Property Reserve is the real estate investment arm of the reserve funds for The Church of Jesus Christ of Latter-day Saints. It invests in income-generating properties and land to create sustainable cash flow for future needs, with a focus on acquisition, build-to-hold development, and portfolio-level management across several property types. The role is based at the company’s headquarters in downtown Salt Lake City and works in a highly collaborative environment alongside a seasoned leadership team. The Asset Manager independently manages a portfolio of industrial real estate assets and is accountable for strategies that optimize financial performance, mitigate risk, and maximize long-term investment value. The role oversees business plans, financial performance, leasing strategy, property operations, capital initiatives, and third-party partners. It identifies opportunities to enhance asset performance and returns, serves as a subject-matter expert on assigned assets and markets, builds relationships with stakeholders, and provides strategic recommendations to senior leadership.

Requirements

Must be a member of The Church of Jesus Christ of Latter-day Saints with a current temple recommend.
Bachelor’s degree in finance, accounting, economics, real estate, business, or a related field.
At least 8 years of relevant experience in commercial real estate asset management, investments, acquisitions, finance, or a related field.
Experience with industrial real estate asset management, leasing, property operations, and capital planning.
Strong commercial real estate knowledge and advanced financial analysis and modeling skills, including Excel, cash flow modeling, valuation, budgeting, forecasting, and investment return analysis.
Strong analytical, problem-solving, organizational, negotiation, communication, and relationship-management skills, with the ability to independently manage multiple assets and priorities.

Nice To Haves

MBA, MRED, or another relevant advanced degree.
Experience with Argus Enterprise, Yardi, or similar real estate valuation, asset management, or financial reporting systems.
Experience with commercial real estate acquisitions, dispositions, due diligence, lease negotiations, and asset transitions.

Responsibilities

Manage an assigned portfolio of industrial real estate assets and develop and execute annual business plans, operating and capital budgets, and strategies to improve cash flow, asset utilization, long-term value, and investment returns.
Analyze financial and operating performance using cash flow modeling, valuation, forecasting, market research, NOI and budget variance analysis, and other quantitative and qualitative methods; identify performance issues and recommend or implement corrective actions.
Develop and execute leasing and tenant strategies, including lease and renewal negotiations, lease economics, tenant retention, rollover exposure, and vacancy mitigation.
Identify and execute value-creation opportunities, including capital investments, operational improvements, and repositioning strategies, while proactively identifying and managing asset-level risks.
Select, direct, and evaluate property managers, leasing agents, brokers, consultants, and other third-party service providers; set performance expectations and ensure alignment with asset strategies and investment objectives.
Evaluate, prioritize, and oversee capital improvement projects, including scope, budget, schedule, investment return, asset condition, leasing impact, and expected contribution to long-term asset performance.
Conduct property inspections and proactively address property management, tenant, leasing, vendor, capital, and operational issues that could affect asset performance or value.
Participate in acquisitions, dispositions, and asset transitions through underwriting, due diligence, financial and operational analysis, evaluation of property management requirements, and transition planning.
Maintain current knowledge of industrial market conditions, including supply and demand, vacancy, absorption, rental rates, development activity, tenant trends, and competitive properties, and incorporate market intelligence into asset strategies and investment decisions.
Develop and maintain relationships with tenants, brokers, property managers, consultants, municipalities, operating partners, and internal stakeholders to advance asset objectives and resolve complex issues.
Ensure assets are managed in accordance with contractual requirements, approved investment strategies, organizational policies, procedures, and governance standards, while maintaining accurate and timely asset-level documentation.