Asset Manager (Associate)

Easterly Government Properties, Inc. is seeking to add an Asset Management Associate. Under the supervision of the COO, Senior Vice President of Asset Management and Supervisory Asset Manager, job duties include, but are not limited to: assisting with the creation and implementation property-level business plans, developing financial reports, maintaining relationships with lessee / tenant points of contact, management and oversight of property operations, maximizing property value by controlling operating expenses, supporting leasing / re-leasing activities, and participating in acquisition and disposition activities.

Primary Duties and Responsibility

General

• The Asset Management Associate is responsible for assigned activities that contribute to the overall operational and financial performance of his / her assigned portfolio of assets
• Works collaboratively with the Senior Vice President of Asset Management and Supervisory Asset Manager to achieve corporate asset management financial objectives and operational consistency
• Ensures operational compliance with SEC, Sarbanes-Oxley and REIT regulations
• As required, coordinates and assists other departments, including Accounting, Acquisitions, Development, and Corporate Finance in support of their operations to achieve corporate objectives

Asset-Level Strategic Planning

• Assists Supervisory Asset Manager in developing strategic business plan and achieving stated financial and operational goals for assigned portfolio of assets by:
  • Supporting all leasing / releasing activities
  • Overseeing completion of approved capital projects to facilitate long-term building health
  • Optimizing building performance
  • Forecasting revenue streams in accordance with lease terms
  • Estimating operating expenses based on historical operations
• Create capital investment plans based on lease contractual and general maintenance requirements
• Annually, in coordination with Supervisory Asset Manager, property management teams and chief engineer, develop operating and capital expense budgets
• Prepare budget reforecasts, as required, to inform and support corporate finance objectives
• Prepare detailed financial analyses to support recommendations to Management on significant operational issues, capital expenditures, leasing activities, or other strategic initiatives

Asset Operations

• On-board and oversee lease novation process for newly acquired / constructed assets
• Responsible for certain aspects of lease administration with tenant, including, but not limited to:
  • Lessor compliance with all lease terms
  • Accurate and timely revenue collections, including base rent and tenant reimbursements
  • Establish and facilitate positive long-term relationships with all tenant points of contact
  • Maintenance of internal electronic lease files and abstracts
• Responsible for certain aspects of building operations, including, but not limited to:
  • Conducting periodic physical inspections of assigned assets
  • Ensuring optimal building performance
  • Overseeing on-site personnel, such as property managers (internal and third-party), building engineers and vendors, in the operations of the building
  • Working with on-site personnel to troubleshoot and determine the best course of action to address building equipment issues
  • Managing expenses in accordance with approved operating budgets
  • Maintaining compliance with all property-level loan covenants and restrictions
• Support Supervisory Asset Manager in all leasing activities, including, but not limited to:
  • Tracking upcoming lease expirations
  • Aggregating and submitting informational responses
  • Responding to tenant requests for lease proposals
  • Negotiating lease terms and language
• Assist with the project management of lease renewal tenant improvement and reimbursable tenant projects by participating on the project delivery team, providing guidance, approving plans and pricing, resolving disputes, and ensuring project completed on-time and on-budget

Financial Reporting

• Weekly, provide and discuss with Management a portfolio overview of activity at each property with a review of any new or ongoing issues, concerns or other items that require Management attention
• Monthly, report to Management on property level performance, with comparative analyses to budget, pro forma, previous operating history, and any other metrics as requested by Management
• Monthly, report to Management on the status of tenant reimbursable projects and approved capital projects
• Periodically, coordinate with Property Accounting on month-end closing activities, to include invoice approvals, expense accruals, variance reporting, etc.
• Periodically, coordinate with the Finance and Operations team to create and review the analyses that support the quarterly earnings model
• Meet reporting requirements for property level loans, to include providing financial statements, rent rolls and other reports as required

Acquisitions and Dispositions

• Participate in due diligence review of potential acquisitions with particular attention to assumptions regarding operations and operating expenses
• Review and recommend property managers and/or leasing agents for new acquisitions
• Transition acquired properties into the portfolio, including development of initial operating and capital budgets and completion of lease novations
• Assist Management in identifying properties for disposition and preparing financials and due diligence packages for those properties slated for disposition

Required Skills / Qualifications

• Undergraduate degree, additional education preferred
• 5 to 7 years of commercial real estate property / asset management and analytical experience
• Strong understanding of basic commercial real estate concepts and valuation techniques
• Excellent verbal and written communication skills
• Excellent planning, organization, and interpersonal skills
• Ability to function independently within a collaborative, team-oriented setting
• Attention to detail and ability to function under tight deadlines
• Ability to work accurately and efficiently
• Ability to handle multiple projects at one time
• Strong sense of personal motivation and responsibility
• Ability to clear GSA NACI & FBI LBI background checks

Desired Skills / Qualifications

• Working knowledge of ARGUS Enterprise Software
• Intermediate experience using Microsoft Excel

Applicants will work effectively with co-workers, vendors, and others by sharing ideas in a constructive and positive manner; listening to and objectively considering ideas and suggestions from others; keeping commitments and keeping others informed of work progress, timelines, and issues; and addressing problems and issues constructively to find mutually-acceptable and practical business solutions.