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Employment Opportunity: Heartland Is Hiring an Asset Manager

02.24.2020

Heartland is currently seeking candidates for a full time Asset Manager. (FLSA Status: Exempt)

Position Description- The Asset Manager will be responsible for actively managing a portfolio of office assets to develop strategy, optimize cash flow, and enhance value.

About Heartland LLC
Heartland is a Seattle-based real estate advisory and investment firm with over 35 years of experience creating value for clients, including families and family-owned businesses, non-profit organizations, corporations, and real estate development, investment and operating companies. Heartland combines strategy development and analytical rigor with execution capabilities in real estate brokerage, asset management, capital markets, and development services to positively impact the communities, organizations and families with whom we work. In 2019, Heartland merged with Laird Norton Properties (“LNP”) to create a unique, multi-faceted and fully integrated business and real estate enterprise.

Heartland, on behalf of Laird Norton Properties (LNP), the real estate division of Laird Norton Company, a seven-generation family enterprise, provides comprehensive asset management services for the company’s 11-asset, ~1.6M square foot office portfolio across 5 markets: Seattle, Boise, Salt Lake City, Denver and Portland. Heartland focuses on mitigating risk and unlocking value within the existing portfolio and is also responsible for identifying and executing new opportunities on behalf of LNP.
Click here for more information about what we do at Heartland.

ASSET MANAGER ESSENTIAL DUTIES & RESPONSIBILITIES

Business Planning, Strategy, and Transaction Management

  • Develop and implement strategic business plans for each asset that will govern its daily operations, position in the market, and ultimate disposition
  • Direct and steer Property Management team to assure financial performance, timely reporting, proactive and high-quality repairs and maintenance, and positive tenant relations
  • Model full life cycle of each asset from acquisition through disposition including investor returns under different scenarios
  • Assist with disposition and refinancing efforts through broker solicitation and selection, negotiation of legal agreements, and closing
  • Assist with conducting transaction analysis and support due diligence for new acquisitions

Financial Analysis, Oversight, and Investor Reporting

  • Lead the annual budget, business planning, and reforecasting process for each asset
  • Review monthly property management reports for variance against budget and strategy
  • Prepare monthly, quarterly, and annual reporting for investor clients and senior leadership
  • Create cash flow projections, analyze and recommend investor capital calls and distributions
  • Perform Argus valuations of each asset on a bi-annual basis
  • Review third-party appraisals for accuracy and consistency
  • Develop analytical tools to allow leadership to better understand the state of the portfolio
  • Monitor and maintain compliance with all lender requirements
  • Monitor timely payment of taxes and insurance premiums
  • Monitor all escrow accounts and operating cash accounts to assure they are properly funded
  • Review property manager operating expense and CAM reconciliations for accuracy, and provide final approvals to PMs prior to sending out tenant letters
  • Collaborate with other departments to improve and document processes and streamline reporting

Leasing

  • Manage relationships with leasing brokers, attorneys, and lenders to negotiate lease terms at or above proforma budget
  • Review LOI’s and leasing documents
  • Draft landlord work letters for leases to be approved by owner
  • Review outside broker listing agreements
  • Track ROFO’s and ROFR’s of existing tenants
  • Work closely with property managers to transition new tenants into properties

R&M and Capital Improvements

  • Forecast repair and maintenance budgets and oversee property management to implement a proactive and high-quality maintenance plan
  • Develop capital improvement strategies, to be approved by owner, and oversee design and construction management activities
  • Monitor construction progress and ensure TI and CapEx projects are closed out
  • Negotiate third-party contracts and oversee implementation of capital improvement and “value-add” programs within the portfolio

CANDIDATE PROFILE

Educational & Professional Experience Requirements

  • 4-6 years of commercial real estate experience with a focus on asset management activities including leasing, financing, managing tenant improvements, capital investments, and dispositions
  • Experience with urban and suburban office assets
  • Bachelor’s Degree in Real Estate, Finance, Accounting or related field
  • Knowledge of the Seattle, Portland, Salt Lake City, Denver and Boise markets is particularly useful

Key Skills & Competencies

  • In-depth knowledge of real estate finance including commercial lease terms and debt and equity structures
  • Able to successfully work in a team-oriented environment and partner with internal colleagues, external suppliers, and cross-functional groups
  • Strong analytical, accounting and critical thinking skills
  • High comfort level with the technology used to aid in collaboration, communication, and documentation
  • Excellent written and oral communication skills
  • Advanced knowledge of Excel including building templates for other users. Argus, Yardi and Sharepoint skills strongly preferred

Culture

Our ideal candidate(s) will have a strong compatibility with Heartland culture in terms of intellectual curiosity, team-oriented nature, problem-solving capacity, desire to learn new skills as projects demand, a focus on high-quality work product, and ability to work in a fluid, fast-paced environment.

  • High level of integrity
  • Proactive self-starter with ability to both take direction and also set own action plan
  • Ability to learn and adapt quickly
  • Ability to manage multiple competing priorities and meet delivery deadlines
  • Ability to work effectively both independently and within teams
  • Ability to probe, ask the right questions, and dig beneath the surface to test the validity of information
  • Ability to think critically, solve problems and make well-reasoned business decisions
  • Strong work ethic
  • Interdisciplinary capabilities
  • Desire to work with clients
  • Superior attention to detail
  • Ability to focus on a variety of tasks simultaneously
  • Strong self-motivation
  • Team orientation
  • Flexibility

OTHER DETAILS

Reporting, Supervisory & Collaboration Responsibilities

  • Reports to Senior Asset & Portfolio Manager
  • Manages property-level teams, including third-party property managers, leasing brokers, etc.
  • Collaborates with internal project teams
  • Collaborates with client personnel

Travel
Travel required to appropriately cover the assets and the market.

Compensation
Market appropriate; experience and skills considered, comprehensive benefits package included.

Application Process & Contact Information
Applications accepted on rolling basis
Applications shall include the following:
Cover Letter
Résumé

Applications should be sent via email to:
Carrie Christensen, Project Administrator/Marketing Coordinator
cchristensen@htland.com

Heartland