Overview

Team Overview

The asset management team is responsible for Identifying and implementing value-add opportunities, lease regards, renewals, rent reviews and lease contract negotiations. The team is acting as a liaison for all other departments of the business with regard to the Fund. As such the role is both internal and external facing. It involves close teamwork with the Portfolio Management, Acquisition, Finance, and Financing teams, as well as liaising with external service providers and the client.

Role and Accountabilities

The Asset Manager will drive the investment performance of a property portfolio thus assisting the Fund Management teams achieve their strategic plans for the portfolio. The Asset Manager will work alongside with Fund Management and Investment Management, and as a team, will be responsible for managing value-add and value protection for their portfolio and for delivering optimal asset performance. He/She will also have a full understanding of their client mandates. Working with the Portfolio Manager and other internal resources, the Asset Manager will have the following core accountabilities:

Strategic Planning

• Develop and recommend hold/sell strategy for each asset, and update annually together with Portfolio Management
• Develop annual property business budget

Acquisitions and Disposals

• Use contacts to source potential investment acquisitions
• Support acquisitions by giving feedback on local markets and underpinning rent- and CAPEX-assumptions.
• Assist with due diligence on acquisitions
• Assist Portfolio/Acquisition Manager in presentation of acquisitions and purchases to Investment Committee
• Ensure insurance cover is placed on exchange or completion of purchase
• Check and approve final due diligence acquisition report
• Initiate property sales via selected agent consistent with conclusions of hold/sell business plan assessment (supported by acquisition manager).
• Manage sale process with agent, lawyer and property manager (supported by acquisition manager).

Capital and Revenue Improvement Planning

• Determine what capital projects and leasing strategies are needed to:
  • Sustain or protect value
  • Reposition asset to increase value
• Develop and execute works via appointment of suitable project team (for bigger projects supported by technical Asset Manager)
• Implement lease surrenders, regears, renewals, rent reviews and tenant mix improvements
• Identify and implement planning and change of use opportunities

Valuations and Performance Measurement

• Supply base property information to Fund valuer

Management of Property Manager

• Regularly attend review meetings with the property manager
• Monitor their performance against KPI’s
• Tracking and monitoring of rent arrears
• Monitor data-base records, fully understand the property records database

Management of Letting and Strategic Agents

• Develop relationships with main tenants
• Leasing, renewing leases, reviewing leases, dealing with planning aspects, remodeling, extending and reconfiguring space, marketing and progressing asset management initiatives on a broad portfolio across all funds
• Establish letting strategy and objectives, and update regularly as required to reflect business plan and changes in the market.
• Define expectations regarding provision of market information (e.g. – trends, rental values, competing properties etc)
• Monitor and action critical lease events (rent reviews, expiries, breaks)

Finance and Accounting

• Review property rent and service charge collection
• Approve irrecoverable costs within discretionary levels set by house DA and client
• Ensure adherence to internal and audit controls

Client Reporting and Communications

• Give information to Portfolio Management in order to help them to prepare and deliver reports
• Work with Portfolio Manager to implement a “no surprises” communication policy

Environmental and Sustainability

• Deliver asset management initiatives in line with house sustainability policies
• Critically assess asset performance and the positive/negative influences of environmental factors

Required Qualifications & Experience

• A minimum 3 years’ experience in Asset Management together with sound and thorough understanding of commercial asset management practice
• Proven track record of delivering investment performance through asset management of relevant asset classes (office, retail and logistic), especially with commercial leasing
• Ideally experience in the acquisition and disposal of investment property including responsibility for the due diligence process
• Demonstrable skill in identifying opportunities to add value
• Strong numeracy, financial and computer skills
• Adaptable team player with the ability to operate autonomously when needed in a high-pressure environment.
• Strong interpersonal skills with the ability to present to clients in both a verbal and written format
• Ability to work collaboratively with internal teams including Fund Teams, analysts, finance, strategy and client services.
• Willingness and motivation to work in an international team (across borders)
• Strong communication skills
• Fluent German and English.
• Qualified surveyor or associate member of RICS would be an advantage but not a pre-requisite.

Source: LaSalle Investment Management Company’s Page

Tagged as: REPE Firm