Portfolio and Investment Manager Full Time

OPPORTUNITY OVERVIEW

We love what we do. We love real estate. We love creating multiple levels of value and positively influencing the future. Do you?

The Portfolio & Investment Manager is an opportunity to:

• Manage and grow the Laird Norton Company’s real estate portfolio
• Collaborate with internal and external partners to drive shared prosperity and positively influence the future
• Work with a Seattle-based family enterprise that combines resilience, intentionality and ingenuity over seven generations and beyond.

ABOUT LAIRD NORTON + AFFILIATES

Laird Norton Company (“LNC”) is a Seattle-based diversified enterprise that invests in private companies and real estate to perpetuate the success of our owners, the Laird Norton Family, and to create shared value for our employees, partners, and broader communities.  We are intentional and patient long-term investors, deriving strong returns from strategic, well-managed assets.  We actively seek to acquire real estate and profitable, capital efficient businesses.

Laird Norton Properties  (“LNP”) is a wholly owned subsidiary of LNC.  LNP is focused on unlocking value and mitigating risk within the existing portfolio and identifying and executing new opportunities to grow and diversify LNP’s portfolio.  LNP’s current portfolio includes the following:

• 11 commercial office buildings (some direct-owned and others in joint ventures) in Seattle, Boise, Salt Lake City, Denver and Portland
• 4 multifamily assets, including 1 student housing asset (some direct-owned and others in joint ventures) in Seattle and Bellingham
• ~125 NNN-leased light-industrial properties across the western US

Heartland LLC is an LNC majority-owned real estate advisory and investment firm, that provides asset management services for all assets in the LNP real estate portfolio, except the NNN-leased light-industrial portfolio.

POSITION DESCRIPTION

The Portfolio & Investment Manager plays a key role in collaborating and supporting the LNP President in managing and growing LNC’s real estate investments in a manner keeping with LNC long-range objectives, risk profile, cash flow requirements, and Creating Shared Value (CSV) principles.  The Portfolio & Investment Manager will support the LNP President analytically, strategically and with relationships across all LNP’s assets and activities.  They will have particular focus on the commercial real estate portfolio (existing and future).

The Portfolio & Investment Manager will be responsible for the following.  Other duties may be assigned:

Strategy Implementation, Financial Analysis, Forecasting, Performance Reporting

• Assist President in tracking and updating the implementation of the Strategic Plan and Annual business plans.
• Own LNP inputs and assumptions into broader Laird Norton Enterprise models, reporting and forecasting.
• Own LNP CSV forecasting and reporting for internal and external stakeholders.
• Assist in defining and creating appropriate dashboard and reporting tools for LNP President and LNC Senior Leadership.
• Assist in the preparation and coordination of materials and reporting to the LNP Board and Real Estate Committee (REC).

Investment, Transactions, Capitalization, Partnerships

• Lead analysis and underwriting from Owner perspective of all new LNP investments, dispositions, refinancing, and partnerships and implementation of approved initiatives.
• Collaborate on the identification of new investment strategies as part of implementing the Strategic Plan.
• Anything related to the NNN-leased light industrial portfolio noted above is managed by another Real Estate Portfolio Manager at LNP.

Owner Representative for Asset Management (AM)

Act as the primary point of contact for LNP with Heartland LLC, including but not limited to the following:

• Provide direction; respond to questions; troubleshoot and problem solve.
• Coordinate and oversee the LNP portfolio Asset Managers / Director of Asset Management (Heartland LLC team).
• Suggest and implement processes, protocols and communications to make the Owner-Asset Manager relationship as effective and efficient as possible.
• Review and provide feedback, course corrections with an Owner’s perspective:
• o Annual Asset Management Plans
• o Quarterly Portfolio reports from the Asset Managers
• o Monthly PM reports with the Asset Managers
• o Annual budgets and reforecasts
• o CAM reconciliations
• oCapital call and distribution requests and compare against budget
• oLender reporting packages from the Asset Managers
• Collaborate with Asset Management on implementing LNP CSV.
• Monitor insurance claims (communication, process, repairs, lender requirements, reimbursements)
• In collaboration with AM team, evaluate Property Management Performance and participate in process to select PM teams as appropriate.
• Provide oversight and representation on LNP portfolio condo associations.

Agreement / Contract Negotiation, Review & Oversight

Provide Owner perspective, terms, negotiation support and oversight on key LNP Agreements and Contracts, including but not limited to the following:

• Heartland LLC Asset Management Agreement
• Property Management Agreements
• Leases
• Loan Agreements (reporting, covenants, insurance)

Internal LNC and LNP Team Collaboration

The Portfolio & Investment Manager will be a key collaborator and partner within the LNP team and across other areas of expertise within LNC.

• Partner with LNP Controller on all of the above as appropriate to integrate the accounting perspective and requirements
• Partner with the LNP Real Estate Portfolio Manager (oversees the NNN light-industrial portfolio) to inform LNP-wide initiatives
• Solicit input to inform all of the above from LNC tax, legal, accounting, as appropriate.
• Partner with the LNC Corporate Development team in support of private equity investments, as appropriate.
• Serve on Enterprise-wide cross functional committees

CANDIDATE PROFILE

Key Skills & Competencies

• In-depth knowledge of real estate finance including underwriting, valuation, and debt and equity structures
• Able to successfully work in a team-oriented environment and partner with internal colleagues, external partners, and cross-functional groups
• Strong knowledge of real estate asset management
• Strong analytical and critical thinking skills
• Excellent written and oral communication skills
• Advanced knowledge of Excel including building financial models, forecasting tools, etc.
• Strong Argus, Yardi, Kardin skills
• SharePoint
• Knowledge of and familiarity with real estate-related and property accounting, preferred
• Comprehensive Office 365 and SharePoint skills

Educational & Professional Experience Requirements

• Bachelor’s Degree in Finance, Real Estate, Accounting or related field
• MBA preferred
• 5-7 years minimum experience in related role
• Background in Commercial Real Estate with a focus on Finance, Investments and/or Asset Management
• Experience in a range of product types, including multifamily, office, industrial
• Experience in a range of asset types, including development, value-add and core
• Knowledge of the Seattle, Portland, Salt Lake City, Denver and Boise markets is particularly useful

Culture

Our ideal candidate will have a strong compatibility with Laird Norton culture, including:

• Passion for what we do
• An appreciation for corporate and family values
• Positive, open attitude
• Stewardship mindset
• Personable, approachable
• Intellectual curiosity and ingenuity
• High level of integrity
• Proactive self-starter with ability to both take direction and also set own action plan
• Adaptability and flexibility
• Ability to manage multiple competing priorities and meet delivery deadlines
• Ability to work effectively both independently and within teams
• Ability to probe, ask the right questions, and dig beneath the surface to test the validity of information
• Ability to think critically, solve problems and make well-reasoned business decisions
• Analytic rigor
• Strong work ethic

OTHER DETAILS

Reporting & Collaboration Responsibilities

• Reports to President of LNP
• Manages Heartland Asset Management
• Collaborates / Partners with:
• o LNP Controller
• o LNP Real Estate Portfolio Manager (oversees the NNN light industrial portfolio)
• o LNC Corporate Development
• o LNC Tax, Accounting and Legal

Travel

Travel required to appropriately cover relationships, the assets and the markets (~10% of time).

Location

This is a full-time position based in Seattle, Washington.

Physical Demands/Work Environment

The work environment characteristics and physical demands described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Laird Norton is committed to creating an inclusive work environment with a diverse workforce. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, veteran status, or any other basis protected by law.

Compensation: $121,659 – $194,654

Above market benefits include:

• Medical – PPO and high deductible plans
• Dental
• Vision
• Heath Savings Account
• Life, AD&D, and LTD Insurance
• Employee Assistance Program
• Retirement Plans: 401(k) and profit-sharing matching
• Vacation, sick and holidays
• Hybrid work:  Minimum of 2 days per week in the office
• Paid Family Leave (more generous than the State plan)
• Home office setup reimbursement
• Company paid garage parking or an Orca card option
• Educational Assistance Program
• Professional development
• Charitable Matching Gift Program
• Wellness program
• Weekly company provided lunches
• Office café