Assistant Asset Manager
Armada Hoffler is seeking a high energy, motivated Assistant Asset Manager with an entrepreneurial spirit to join our elite team. Under the direction of the Sr. Asset Manager, the Assistant Asset Manager will interact with multiple departments within Armada Hoffler to provide analytical support and strategic direction for a diverse portfolio of properties.
ESSENTIAL JOB DUTIES & RESPONSIBILITIES:
- Will be directly responsible for a portfolio of properties. Review monthly financial packages. Compare actuals to budget on a monthly basis and provide projections and re-forecasts. Communicate discrepancies/issues with the property manager and follow thru until resolution. Ensure accuracy of the cashflow forecasts. Provide, discuss and review monthly cashflows with the Department Head.
- Review leases for full understanding of expense recoveries. Compare expense recoveries to estimated expenses as well as actual expenses. Review expense reconciliations prepared by property management. Conduct periodic audits to determine that rents and expense recoveries are in accordance with leases and that recoveries are handled accurately and consistently.
- High level of concentration on delinquent accounts receivables.
- Responsible for compiling and submitting the monthly, quarterly and annual reports to lenders as required.
- Review each property’s 5-year capital plan.
- Review and monitor property escrows and reserves to ensure that they comply with loan documents, are being funded as required and that allowable expenses are submitted for reimbursement.
- Review monthly fixed asset schedules.
- Review budgets from property managers/create budgets for the in-house managed properties.
- Periodic audits on items such as: are mortgages being billed to us in accordance with the loan documents, do the rent rolls reflect the terms contained in each lease, are there items in the leases that can be recovered from tenants, i.e. assumption fees, after hours HVAC, etc. that need to be implemented, etc.
- Review and approve expense authorizations from property managers to ensure that they comply with established guidelines and requirements.
- Meet with property managers on a routine basis and conduct property inspections on a routine basis.
- Provide various financial analyses upon request.
- Interaction with leasing agents. Proactively manage upcoming lease expirations.
- Monitor operating expenses. Research latest market trends on effectively and efficiently managing commercial properties.
- Oversee tenant improvement and capital expense improvement projects.
- Due diligence support for acquisitions, dispositions and financing.
MINIMUM ACCEPTANCE QUALIFICATIONS:
- Bachelor’s Degree in business, accounting or finance.
- Three to five years of practical accounting experience in a public company a plus.
- Commercial real estate, asset management or property management experience preferred.
- Strong analytical skills.
- Strong organizational skills.
- Familiarity with commercial leases preferred.
- Excellent verbal and written communication skills.
- Intermediate to Advanced Microsoft Excel skills required.
- Intermediate Microsoft Word skills required.
- Microsoft Outlook skills required.
- Yardi Accounting software experience preferred.
- Ability to work independently as well as in a group environment.
- Ability to multi-task.