Description
Realty Income, The Monthly Dividend Company , is an S&P 500 company dedicated to providing shareholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,800 real estate properties owned under long-term lease agreements with regional and national commercial tenants. To date, the company has declared 584 consecutive common stock monthly dividends throughout its 50-year operating history and increased the dividend 100 times since Realty Income's public listing in 1994 (NYSE: O). Our company attracts individuals who value integrity, perseverance, and teamwork. If you appreciate working in a professional environment that rewards employees based on meritocracy and values a work-life balance, make sure to apply today! We are looking to hire a Director, Asset Management. The Director, Asset Management executing property-level commercial renewal, leasing, and disposition strategy in accordance with portfolio goals and objectives. In this capacity, the Director negotiates renewals for non-credit tenant portfolio, new leases, and sale transactions to optimize the value of real estate properties within Realty Income s portfolio. The primary duties of the Director, Asset Management include: Negotiate Lease Rollovers
- Review portfolio of properties leased to non-credit tenants with lease expirations in any given year to assess likelihood of lease renewal or potential vacancy:
- Oversee review and analysis of market and trade area, zoning, property taxes, demographics, easements, and use restriction considerations to assess quality of location
- Analyze tenant financial information to gauge operating performance
- Engage tenants with expiring leases to renew (i.e. rent, length of term, NNNs, etc.)
- Recommend renewal structure
- Collaborate with the Corporate Leasing team regarding strategy for credit tenant portfolio lease renewals
- Review portfolio of upcoming leases nearing expiration to determine strategy for re-leasing or selling:
- Analyze market and trade area, zoning, property taxes, demographics, easements, and use restriction considerations for vacant properties
- Interview and evaluate local brokerage representation, hire and manage listing brokers, and negotiating lease or purchase offers
- Research and interview tenant and/or buyer for credibility and feasibility to successfully consummate a transaction
- Underwrite creditworthiness of tenant via review of financial statements, tax returns, asset/bank statements, credit report, landlord, and other references
- Present letters of intent (the LOI ) outlining business terms for approval by SVP and EVP
- Work in concert with Legal Department to finalize a contract with tenant and/or buyer
- Monitor pending transactions, negotiating, and proactively driving forward progress to ensure successful closing of transactions
- Manage tenant and broker communication activities
- Litigation support:
- Analyze litigation matters for potential impacts on property viability
- Collaborate with Legal Department on litigation risk analysis and lawsuit-versus-settlement probability outcome
- Review property management plans/expenses
- Approve easements and condemnations
- Bachelor's degree from four-year college or university
- Four (4) years or more of commercial real estate finance, leasing, and sales experience preferred
- Strong understanding of commercial real estate and financial statements
- Strong skills in Microsoft Office applications, e.g., Word, Outlook, and Excel
- CA Department of Real Estate Salesperson or Broker license preferred.
- Thorough knowledge of commercial real estate principles and financial analysis
- Time management and ability to prioritize projects based on level of importance
- Decisive decision-making and problem-solving skills
- Ability to delegate, supervise, and coach junior employees, and manage resources effectively
- Attention to detail, and a high level of accuracy and quality in work product
- Establish and maintain cooperative working relationships
- Strong oral and written communication skills; including the ability to communicate complex ideas to upper management, as well as to tenants, brokers, and agency officials
- Ability to manage conflict with tenants, brokers, third -party requestors, etc.
- Detailed knowledge of Microsoft Word and Excel, CoStar as well as Google Earth
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