Organization Background
Easterly Government Properties, Inc. (“Easterly” or the “Company”) is a publicly traded Real Estate Investment Trust (REIT) focused primarily on the acquisition, development and management of Class A commercial properties that are leased to U.S. Government agencies.
Primary Duties and Responsibility
General
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The Assistant Vice President of Asset Management is responsible for independently managing the overall operational and financial performance of their assigned portfolio of assets
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Works collaboratively with the Head of Asset Management Operations (direct supervisor) to achieve corporate asset management financial objectives and deliver value to shareholders
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Ensures operational compliance with SEC, Sarbanes-Oxley, and REIT regulations
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As required, coordinates and assists other departments, including Accounting, Acquisitions, Development, Corporate Finance, and Legal in support of their operations to achieve corporate objectives
Asset-Level Strategic Planning
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Independently develop strategic asset business plans and achieve operational goals for assigned portfolio of assets by:
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Communicating the asset-level strategy to and managing the local operational team(s) including property accountants, property managers, and building engineers
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Optimizing building system performance
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Controlling operating expenses
- Forecasting revenue streams in accordance with lease terms
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Proactively identifying and pursuing additional sources of revenue
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Analyzing and evaluating all leasing / releasing activities
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Developing capital plans for all building systems and equipment
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Annually, develop 5-year operating budgets supporting optimized building operations
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Create and maintain 5-year capital plans tracking contractual and general maintenance requirements to ensure long-term health and performance of assigned portfolio
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Prepare budget reforecasts, as required, to support corporate finance objectives
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Prepare detailed financial analyses to support recommendations to Senior Management on significant operational issues, capital expenditures, leasing activities, or other strategic initiatives
Asset Operations
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On-board and manage lease novation process for newly acquired / constructed assets
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Responsible for all aspects of lease administration, including, but not limited to:
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Maintain compliance with all lease terms
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Ensure accurate and timely revenue collections
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Cultivate positive, long-term relationships with all tenant points of contact
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Maintain internal electronic lease files and abstracts
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Manage tenant disputes and claims
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Responsible for all aspects of building operations, including, but not limited to:
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Conduct periodic physical inspections of portfolio
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Ensure optimal building system performance
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Contract and oversee on-site personnel, such as property managers (internal and third-party), building engineers and vendors, in the operations of the building
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Collaborate with on-site personnel to troubleshoot issues and determine the best solution to resolve the issue
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Manage expenses in accordance with approved operating budgets
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Execute approved capital reinvestment projects
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Maintain compliance with all property-level loan covenants and restrictions
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Oversee all matters related to real estate taxes and appeals
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Support the Vice President of Leasing in the pursuit of all leasing activities within portfolio
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Serve as project management executive for lease renewal tenant improvement and reimbursable projects:
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Assemble project delivery team, including architects, general contractors, and any other required vendors
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Negotiate pricing and contracts for construction services
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Review, provide guidance, and approve architectural and mechanical plans
- Ensure all projects are completed on-time and on-budget
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Proactively identify potential tenant and/or operational issues to avoid protracted disputes or costly repairs
Financial Reporting
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Weekly, provide portfolio overview of activities to Senior Management to review any new or ongoing issues that require Senior Management attention
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Monthly, report to Senior Management on property level financial performance, with comparative analyses to budget, pro forma, previous operating history, and any other metrics as requested by Senior Management
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Monthly, report to Senior Management on the status of tenant reimbursable projects and approved capital projects
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Monthly, coordinate with Property Accounting on month-end closing activities, to include invoice approvals, expense accruals, variance reporting, etc.
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Periodically, coordinate with the Finance and Operations team to create and review the analyses that support the quarterly earnings model
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Meet reporting requirements for property level loans, to include providing financial statements, rent rolls and other reports as required
Acquisitions and Dispositions
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As requested, participate in due diligence review of potential acquisitions with particular attention to assumptions regarding operations and operating expenses
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Review and recommend property managers and/or leasing agents for new acquisitions
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Coordinate with Acquisitions team to onboard acquired properties, including development of initial operating and capital budgets and completion of lease novation
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Assist Senior Management by identifying properties for disposition and preparing due diligence packages for properties slated for disposition
Required Skills / Qualifications
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Undergraduate degree, additional education preferred
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10 to 15 years of relevant commercial real estate asset management experience
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Strong understanding of advanced commercial real estate concepts and valuation techniques
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Strong project management skills
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Excellent verbal and written communication skills
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Excellent planning, organization, and interpersonal skills
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Ability to function independently within a collaborative, team-oriented setting
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Attention to detail and ability to function under tight deadlines
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Ability to work accurately and efficiently
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Ability to handle multiple projects at one time
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Strong sense of personal motivation and responsibility
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Ability to clear GSA NACI & FBI LBI background checks
Desired Skills / Qualifications
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Experience preparing commercial real estate operating and capital investment budgets
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Experience managing teams of peers and subordinates
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Intermediate experience using Microsoft Excel
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Experience using Yardi
An Equal Opportunity Employer
Base Salary Range: $160,000 – 180,000
