The Runnymede Corporation is a privately owned real estate management and development company with a portfolio of properties spread primarily throughout the east coast, including office, light industrial, mini storage, flex, and retail. The company's leadership comprises a Board of Directors/Owners and a management company led by the Chief Executive Officer. The Asset Manager will report directly to the Chief Operating Officer.
The Asset Manager is responsible for all aspects of investment management of an assigned portfolio and geographic market, including underwriting and production, lease analysis, valuation modeling, cash flow analysis, development feasibility analysis, and reporting.
Key Responsibilities: Investment Management:
Manage an assigned core portfolio of properties to ensure the delivery of expected income, appreciation, and occupancy consistent with company expectations as measured against appropriate market indices and benchmarks.
Continually monitor relevant commercial real estate markets to establish individual property business plans and ensure the delivery of high-level investment performance relative to market peers and competitors.
Oversees the development and management of annual Capital Improvement and Operating Budgets and business plans for each assigned asset with the input of property managers and leasing brokers.
Develops long-term strategies for capital improvements and reserves to enhance the value of the asset.
Monitors debt coverage measures and convenants required by the lender.
Prepare and analyze new leases and manage the leasing process to ensure timeliness and accuracy.
Obtain tenant improvement budgets for new deals and renewals from the senior property manager. Work with leasing agents to build deal terms—present deal terms to ownership.
Lead and manage leasing brokers, property managers, contractors, and other external relationships, including joint venture partners, to fulfill portfolio objectives. Maintains strong relationships with tenants through excellent service and communication.
Actively develop positive, long-lasting relationships with joint venture partners, developers, brokers, and other industry participants to source potential future investment opportunities.
Guide external service providers, and make appropriate adjustments to priorities and goals through timely performance planning and feedback.
Foster a spirit of cooperation and teamwork across internal organizational lines, including legal, financial management, research, portfolio management, operations, senior management, capital markets, acquisitions, and dispositions.
Lead and direct an assigned portfolio in development, redevelopment, and repositioning activities, lease procurement, and other appropriate equity investment activities consistent with company return, volume and timeliness goals.
Establish property leasing goals that meet company objectives and goals and work with leasing brokers to meet or exceed specific occupancy benchmarks for each asset.
Analyze tenant credit, negotiate market lease terms and documentation, and provide profitability analysis relative to market alternatives.
Implement company investment strategies in procuring new development opportunities. Operate within the development team in the underwriting, entitlement, construction, and leasing process.
Manage acquisition and disposition activities within the portfolio, including PSA review, Due diligence process, closing activities.
Meet all company reporting requirements in a timely and accurate manner including monthly asset management reports for ownership.
Successfully manage workload given competing priorities and deadlines when working on an assigned portfolio.
Participate in formal and ad hoc company presentations.
Monitor AR reports and work with PM on collection issues.
Contract legal council for tenant collection matters that require court proceedings and judgments.
• College Graduate preferred or equivalent experience.
• 3+ years experience as an Asset Manager with a Commercial Real Estate Management Company.
• Real Estate License.
• Clean Valid Driver's License & Insurance.
• Clean background check.
• Available to travel 10-20%
Technical Skills and Competencies Required:
• Capability to Multi-Task with both people and projects at a high level. • Strong Leadership skills and ability to mentor, train, and inspire those around them. • Adept at anticipating problems and issues, determining possible solutions, and implementing a plan of action. • Ability to develop, present, and execute strategic plans. • Ability to work with minimum supervision. • Demonstrated experience with accounting and property management software such as Yardi. • Solid understanding of commercial real estate investment and finance. • Clear understanding of lease agreements and terms and prior management of service contracts. • Ability to prioritize projects to meet multiple deadlines in a fast-paced, team-oriented environment. • Provide the highest degree of professionalism and customer service with internal and external customers. • Excellent presentation and written and verbal communication skills. • Outstanding communication skills follow through and follow-up, and ability to meet commitments and deadlines. • Ability to be flexible, proactive, highly motivated with organizational skills. • Proficient in MS Word, Excel, Outlook, PowerPoint, and property management software. Yardi and ARGUS a plus
Established in Norfolk, Virginia, The Runnymede Corporation is a commercial real estate development and management firm. Runnymede manages a diverse real estate portfolio that includes class A office buildings, self storage facilities, office/warehouse, shopping centers, mixed use projects and light industrial.
Runnymede is an equal opportunity employer and affords equal opportunity to all applicants and employees for all positions without regard to race, color, religion, gender, national origin, age, disability, veteran status or any other status protected under local, state or federal laws.
Applicants have rights under Federal Employment Laws.