Employment Opportunity: Heartland Is Hiring an Asset Manager -POSITION FILLED

03.15.2022

Position filled, please check back for additional opportunities to join the Heartland team.

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 multifamily and 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 16-asset, ~2M square foot multifamily and 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 refinancing and disposition 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 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

Establish strategies to drive leasing performance at the multifamily assets
Manage relationships with leasing brokers, attorneys, and lenders to negotiate lease terms at or above proforma budget at the office assets
Review LOIs and other leasing documents
Draft landlord work letters for leases to be approved by owner
Review outside broker listing agreements
Track ROFOs and ROFRs of existing tenants
Work closely with property managers to transition new tenants into (office) 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 strategy, leasing, financing, managing improvements, capital investments, and dispositions
Experience managing multifamily assets; additional experience with office and industrial preferred but not required
Multifamily acquisitions experience highly valued but not required
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 underwriting, valuation, 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 Director of Asset Management
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.

Location
This is a full-time position based in Seattle, Washington.

Diversity, Equity & Inclusion Efforts
We are an equal opportunity employer. We recognize that our mission and values are best advanced by the leadership and contributions of individuals of diverse backgrounds, beliefs, and culture. Recruiting and mentoring staff to create an inclusive organization that reflects our region’s diversity is a priority, and we encourage applicants from all cultures, races, colors, religions, sexes, national or regional origins, ages, disability status, sexual orientation, gender identity, military, protected veteran status, or other status protected by law.

As advisors by trade, we know that innovative solutions emerge from unique perspectives, experiences and identities. As such, our team and our partners are our life force. We encourage employees to get involved and to feel comfortable voicing their opinions and sharing their ideas; our goal is for everyone to feel and be heard, included and acknowledged. To that end, we are committed to continue working to become a more diverse, equitable and inclusive organization. We know it is a journey and while we may not get it right all the time, we are committed to listening and learning in order to effect change in our organization and beyond.

Hybrid Work Expectations
In light of the current situation regarding COVID-19, all employees have been given the opportunity to work remotely within the State of Washington. In this remote context, in-person meetings, site visits, etc. are occasionally required and expected within the parameters of Heartland’s COVID protocols as well as applicable law. While the specific details of the hybrid policy have not yet been finalized, once the company makes the decision to return to the office, this position will likely have the opportunity to be a hybrid model combining the option of both remote and in-office work or the option of all in-office.

COVID-19 Vaccination Policy
Heartland has an employee vaccination policy in effect and, if hired, any applicant must provide appropriate evidence of full vaccination prior to the agreed upon employment start date, subject to any applicable religious or medical exemptions required by applicable law.

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, Operations Manager
cchristensen@htland.com