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

01.19.2024

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)

Asset Manager Opportunity Overview
We love what we do. We love real estate. We love supporting organizations, companies and families. We love creating multiple levels of value and positively influencing the future. Do you?

The Asset Manager role is an opportunity to:

Manage a portfolio of high-quality office and multifamily assets on behalf of an affiliated company.
Develop and lead the implementation of business strategies for each asset.
Assist continued growth of a third-party Asset Management business line.
Assist leading and growing a team with a leadership role in various aspects of the asset management functions.

About Heartland LLC

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 became a majority owned subsidiary of Laird Norton Company. Heartland, on behalf of Laird Norton Properties (“LNP”), the wholly owned real estate subsidiary of Laird Norton Company, an eighth-generation family enterprise, provides comprehensive asset management services for the company’s 16-asset, ~2M square foot office and multifamily portfolio across 5 markets: Seattle, Boise, Salt Lake City, Denver and Portland. Heartland focuses on mitigating risk and unlocking value within the existing portfolio.

Click here for more information about what we do at Heartland.

Asset Manager
POSITION DESCRIPTION

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

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.
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.
Lead and direct third-party property management firms, leasing brokerage firms, legal counsel, transactions teams, and all other third-party service providers to assure financial performance, timely reporting, proactive and high-quality repairs and maintenance, and positive tenant relations.
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 and insurance requirements.
Oversee property management teams and accounting of property expenses and CAMs.
Collaborate with other departments to improve and document processes and streamline reporting.

Leasing

Establish strategies to drive leasing performance at office and mixed-use assets.
Manage relationships with leasing brokers, attorneys, and lenders to negotiate lease terms.
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

5-10 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 office assets; additional experience with multifamily and industrial preferred but not required.
Acquisitions and dispositions 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.

Salary Range
The salary range for this position will range from $125,000-$175,000 per year and will be dependent upon multiple factors including experience and existing skillsets.

Benefits Description

Medical
Dental
Vision
401(k) plan
Life and disability coverage
Potential for discretionary annual bonuses
Vacation, sick leave, and holidays
Company supplied equipment for home office
Qualified Transportation Plan program
Charitable Matching Gift program
Health and Fitness Reimbursement program

Location & Hybrid Work Policy
Heartland currently has a hybrid work policy, which includes the ability to work remotely within the Puget Sound Region. On average, Heartlanders are in the office 2-3 days per week. The hybrid work policy may evolve over time.

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 cultures. 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. Heartland provides equal employment opportunities to all employees and applicants for employment without regard to race (including traits historically associated or perceived to be associated with race such as hair texture and protective hairstyles such as afros, braids, locks, and twists), color, ethnicity, creed, ancestry, national origin, citizenship, sex or gender (including pregnancy, childbirth, and pregnancy-related conditions), gender identity or expression (including transgender status), sexual orientation, familial or marital status, religion, age (40 and older), disability (including sensory, mental, or physical disability), obesity, use of a trained dog guide or service animal by a person with a disability, genetic information (including testing, predisposition, or carrier status), HIV or AIDS status, veteran or military status or any application for military status, domestic violence victim status, or any other characteristic protected by applicable federal, state, or local laws and ordinances. Equal employment opportunity applies to all terms and conditions of employment, including hiring, placement, promotion, termination, layoff, recall, transfer, leave of absence, compensation, and training.

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 dedicated to creating a psychologically safe work environment, dedicated to listening and amplifying the voices of all employees to create a better organization

COVID-19 Vaccination Policy
Heartland does not require vaccination in order to be eligible for employment, however, employee health and safety is a high priority and so we do encourage people to be fully vaccinated and up to date on available boosters. Heartland will continue to monitor the situation and reserves the right to update this policy in accordance with CDC Guidelines and best practices in order to maintain a safe working environment.

Application Process & Contact Information
Applications are accepted on a rolling basis and should include both a Cover Letter and a Resume.
Please submit via Heartland’s online career center.