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The Sr. Director of Mixed-Use manages all asset management responsibilities for the commercial component of a portfolio of communities geographically spread across 10 markets and representing approximately 850k square feet with a development pipeline of 250k square feet.
This position leads AvalonBay’s efforts in creating strategic value across the mixed use platform while collaborating with and supporting development, acquisition/disposition and other investment opportunities. The role is focused on adding value at the ground level of mixed use communities by (i) evaluating and assessing commercial revenue opportunities, (ii) maintaining strong external communications with partners and retailers, and (iii) providing internal oversight and collaboration with various teams regarding the transparency, visibility, and ongoing metrics of the commercial portfolio.
Typical asset management responsibilities and activities to include:
- Establish and maintain property level business plans
- Interface with internal AVB teams to execute on retail level business plans including residential services, leasing agents (and external brokers as applicable), development personnel, and/or joint venture partners
- Review and analyze economics and credit of leasing deals as well as perform comparative analysis to budget and return of investment
- Participate in the timely production of reports apprising senior management and investors of major changes in property fundamentals and competitive positioning
- Prepare and/or review annual asset business plans, operating budgets and capital budgets, and monitor budget to actual performance throughout the year.
- Responsibility for the performance and the operating management of portfolio(s)
- Assist in planning and execution of yearly strategic priorities for the portfolio including identifying value-add opportunities and asset management initiatives
- Drive (re-)letting activities / Initiate CapEx projects
- Develop (re-)positioning and marketing strategies for challenging commercial space
- Assist in the roll out and ongoing operational oversight of Second Space pilot
- Annual portfolio budgeting including capital forecasts with mid-year reforecast
- Bi-Annual valuation updates for select communities
- Quarterly AVB regional asset team meetings including asset management and residential services
- Monthly calls with Lease Admin/Leasing on evolution of bad debt positions and strategy to collect
- Handling of legal procedures, claims, warranty issues, day-to-day invoices, contracts as appropriate
- Community / Space inspections as appropriate
- Meetings with local politicians, key retailers, and strategic partners
- Operational approvals/controls as well as periodic updating or creation of policies & procedures
You Have…
Education:
- Bachelor’s degree required.
- Master’s of Business Administration (or equivalent) degree preferred.
Experience:
- At least 10 years of experience required.
- Past retail analysis and underwriting required.
- Leasing, operations and/or portfolio management experience preferred.
Knowledge, Skills and Abilities:
- Possesses thorough knowledge of finance, retail leasing and mixed-use operations.
- Demonstrates excellent and effective communication and collaboration skills.
- Possesses strong organization skills.
- Manages multiple internal and external projects simultaneously while prioritizing and completing milestones.
- Builds strong relationships with both internal and external parties.
- Ability to identify, respond to, and solve problems and challenges in a customer-service oriented manner.
- Demonstrates proficiency in Microsoft Word, Excel, Powerpoint
Source: Avalon Bay Career Page
