Asset Manager

Company DescriptionFlexShops is a premier provider of small industrial spaces for entrepreneurs and small business owners. Our flexible leasing options and diverse range of unit sizes cater to a variety of business needs.

Role DescriptionThis is a full-time on-site role as an Asset Manager in Draper, UT. The Asset Manager will be responsible for overseeing and managing the maintenance, repairs, and upgrades of the property's assets. They will also be responsible for developing and managing budgets, coordinating with outside vendors and contractors, and ensuring compliance with all safety regulations.

The Asset Manager position provides the opportunity to work with a well-established real estate investment team. The position will work closely with senior leadership in FlexShops to monitor and manage asset strategy, review monthly financials, review and approve annual budgets, track capital expenditures, assist with cash management, and track key performance indicators. The asset manager will work closely with acquisitions, property management, and construction management during the life cycle of each real estate investment. Other job functions include investor reporting, quarterly distributions, quarterly valuations, due diligence, assisting with closings, and setting annual goals.

Duties and Responsibilities:Review and analyze monthly financial reports including rent rolls, income statements, balance sheets, budget comparisons, cash flow statements, and delinquency reportsReview lease trade out reports and interior improvement plansCommunicate current property operations and current budget variancesPerform and document on-site property inspections (semi-annually). Report inspection results and make recommendations to senior management and property managementMonitor asset strategies, provide project management, and review and track construction budgetsForecast cash requirements and communicate future cash outflows with fund accountingAssist with and participate in due diligence efforts for newly acquired assetsManage direct disposition of assets though sales processCreate and/or utilize financial models to analyze cash flow, recommend supplemental loans or refinancings, and determine when to hold vs. sell investmentsDevelop and distribute asset management reportsReview and approve annual operating budgets provided by property management teamCompare pro forma underwriting to annual asset performanceMaintain regular communications with partners to ensure operations are in accordance with the underwritten business planMonitor and administer loan covenants including reserve/loan draws, monthly escrows, and provide lenders financial information as requiredManage real estate tax appeal process, litigation and mediation with tax advisorsForecast property distributions and communicate variances to fund accountingEnsure lender required repairs are completed on timeCreate process documentation and build systems for recurring projectsRequirements

5 7 years of prior experience in asset management, portfolio management, financial underwriting, or fund-level management involving commercial real estate. Less experience may be substituted for additional education and/or Certifications (i.e., MBA, MRE, CCIM).Life-long learner with an entrepreneurial attitude.Superior interpersonal, written, and verbal communication skills.Strong organizational and time management skills.Detailed oriented self-starter with managerial skills.Ability to multitask, prioritize, and take direction from managers in different business units.Strong analytical skills and ability to learn quickly, achieve results, and excel in a fast-paced, deadline driven environment.Ability to work on a team, as well as independently, while driving multiple priorities and applying good judgement along with strong sense of self-motivation and direction.Smart, energetic, team player with a strong work ethic and commitment to excellence.Willingness to travel as required.

Technical/Educational RequirementsBachelor's Degree in Economics/Finance/Accounting or Real EstateYardi experience and advanced Excel functions a plusProficient in Microsoft Word, Teams, Excel, and Outlook

Physical Requirements:

Ability to operate office machinery; including but not limited to: telephone, computer, copy machine, fax machine, printer, and mobile phone.

Working Conditions:

Open office workstation environment, moderate to quiet noise levels.