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Director, Asset Management
Location:
New York, NY
Description:
THE COMPANY Orion Office REIT Inc. specializes in the acquisition, ownership, and management of a diversified portfolio of mission-critical and corporate headquarters buildings in suburban markets across the U.S. The portfolio is made up mostly of office, flex, government and medical buildings and is leased primarily on a single-tenant net lease basis to creditworthy tenants. Orion is publicly traded and internally managed, operating from offices in New York, NY and Phoenix, AZ. Job Location: New York JOB SUMMARY The candidate will be responsible to maximize the performance of a national real estate portfolio of properties. The candidate will help make asset level decisions through analysis of operating cash flows, NPV comparisons, ROI and risk/return modeling, risk management, and benchmarking. The ideal candidate will have extensive knowledge and experience in managing office assets in various markets in the country with significant experience managing properties, structuring, and negotiating leases, and working with tenants, brokers, and advisors. For each asset in portfolio, the candidate will develop an asset management plan and complete a sell versus hold analysis that models the potential to retain tenants, reposition and relet the property, or sell the property. The candidate will assess the asset’s strengths, weaknesses, risks, and opportunities, analyze potential scenarios to maximize the asset’s NPV or risk-adjusted return net of carry costs and capital required, and then execute on the course of action approved for each asset. The candidate will travel regularly to visit portfolio assets and work closely with external parties including real estate brokers, tenants, and third-party consultants to refine and execute asset management plans. Candidate should have extensive experience leasing and selling properties as well as experience developing asset management plans, building models in ARGUS and Excel, and experience working with tenants, brokers, and third-party data sites like Co Star. The candidate must also have experience evaluating provisions in leases and loan documents. This position reports to the Chief Investment Officer but the candidate will frequently communicate with other Orion departments including Property Management, Construction Management, Accounting, and Operations. SPECIFIC RESPONSIBILITIES Prepare detailed Excel or Argus models and budgets showing property revenues, operating expenses, and capital expenditures for each property in portfolio Maximize total return of each asset by identifying opportunities to improve performance Analyze and evaluate capital expenditures and proposals for lease extensions and new leases Assist with strategic decisions through NPV analysis, IRR modeling, and risk management Assist in preparation of asset level budgets to forecast portfolio performance Solicit, evaluate, and summarize third party reports and market due diligence Assist in identifying and mitigating tenant credit deterioration Regularly interact with property management and leasing teams to create/enhance value Travel frequently to visit properties, participate in meetings, and thoroughly understand assets Prepare hold vs. sell analyses to evaluate transaction opportunities Prepare Committee Memos for presentation to Orion Investment Committee QUALIFICATIONS 5-10 years of institutional office or other relevant real estate experience Ability to develop financial models with advanced proficiency in ARGUS and Microsoft Excel Experience in a dynamic environment requiring attention to detail across multiple priorities Must conduct extensive market, submarket, and property level due diligence Must possess strong aptitude to achieve property return objectives and target driven results Strong project management, oral and written communication, and interpersonal skills Minimum of bachelor’s degree in Real Estate, Business, Finance, or relevant discipline COMPENSATION The compensation range for this role is: $130,000 to $175,000. Orion, in good faith, has assessed this posted range of compensation as the accurate range for this role and location at the time of this posting. Orion may ultimately pay more or less than the posted range depending on candidate qualifications. This range may be modified in the future.
Company:
Orion Office Reit Services
Posted:
May 24 on PrismHR Hiring
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More About this Listing: Director, Asset Management
Director, Asset Management is a Executive Director Job at Orion Office Reit Services located in New York NY. Find other listings like Director, Asset Management by searching Oodle for Executive Director Jobs.
Director, Asset Management is a Executive Director Job at Orion Office Reit Services located in New York NY. Find other listings like Director, Asset Management by searching Oodle for Executive Director Jobs.