Senior Asset Manager
EastGroup Properties, Inc. owns, manages, and develops industrial real estate in major Sunbelt markets throughout the US. The Company’s strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. In keeping with this growth strategy, EastGroup is seeking to add an experienced and resourceful member to our Asset Management Team.
The Senior Asset Manager will be responsible the management, leasing, development, and acquisitions of industrial assets in the Charlotte and Atlanta markets. The individual will be responsible for overseeing and managing multiple in-house and third-party leasing and management companies and their respective staff.
Summary of Job Duties
- Maximize total return for each asset through the analysis of property efficiencies and identifying opportunities for improved performance.
- Coach Property Management Teams to achieve or exceed Company operational objectives including customer satisfaction and asset profitability.
- Maintain a strong and collaborative team culture, as well as a strong and dynamic organizational climate, by encouraging teamwork and open communication.
- Preparation of budgets, leasing plans, and capital expenditures programs for review by Senior Management.
- Actively participate in the negotiations on new leases and renewals.
- Prepare necessary monthly, quarterly, and annual reporting for Senior Management.
- Negotiate third party contracts and oversee implementation of capital improvement and ‘value-add’ programs within the portfolio.
- Perform valuations of each asset on a quarterly basis to develop and implement strategic business plans for each asset that will govern its daily operations, position in the market, and potential disposition.
- Manage the capital improvement strategies and processes, including oversight of the construction management activities.
- Evaluate the local markets to identify changes and trends and the related impact on real estate values and investment strategies.
Acquisitions & Dispositions
- Develop and maintain a broad range of industry relationships with brokers, developers, owners, and venture partners to identify opportunities of industrial properties.
- Source potential acquisitions through broker marketing materials, cold calling, and target site visits to determine if a property meets Company investment criteria.
- Work closely with the Senior Vice President during the acquisition process from LOI prep to closing, managing the due diligence and other related activities.
- Assist in preparation of underwriting package, reviewing and analyzing data during the due diligence process, coordinating third party review of property information, and negotiation of lending agreements.
- Identify any assets suitable for disposition and assist in sale efforts including contract negotiation, transaction management, and closing.
Education & Experience
- Bachelor’s degree in business, real estate, economics, or related field; advanced degree a plus.
- 10+ years of real estate experience, with at least 5 years in asset management.
- Experience in development/construction management is a plus.
Knowledge, Skills & Abilities
- Solid understanding of financial terms and principles, with ability to conduct complex financial analysis.
- Excellent communication (both written and verbal) skills are required.
- Demonstrates sound judgment, ability to analyze and solve problems involving multiple factors in various situations.
- Strong inter-personal and customer service skills with the ability to maintain effective tenant relationships.
- Strong organizational skills with attention to detail.
- Proficient with all Microsoft applications and experience with property management software, preferably Yardi.
- This position requires periodic travel to target markets as necessary.
- Property visits may include tours of properties under development or in some phase of construction.
- Office environment has little exposure to excessive noise, dust, extreme temperatures and the like.