Director, Asset Management

POSITION SPECIFICATION

DIRECTOR – ASSET MANAGEMENT
Shine Associates, LLC has been retained to search, identify and recruit a Director – Asset Management on behalf of our client (‘Company’). This position will be based in Chicago, IL.

CONFIDENTIALITY

Shine Associates, LLC has been exclusively retained on this assignment. Information contained in this position specification as well as any other information concerning the Company provided or verbally discussed is confidential. All materials and discussions are to be utilized for the sole purpose of a candidate’s personal review of the career opportunity.

CLIENT DESCRIPTION

Founded in Dallas, Texas in 1965, the Company consistently ranks amount the top managers and developers of office, industrial, retail, and mixed-use properties in major global markets. The firm is one of the most respected full-service firms in real estate – providing investment management and development and a full suite of integrated services to owners, investors, lenders, and major occupiers. The Company has approximately 3,000 employees across 35 global offices responsible for a $19B development pipeline, 550M SF of property management and leasing assignments, and $20B in assets under management.

The Investment Management team is an SEC-registered investment advisor and is the Company’s fund management and advisory arm headquartered in Chicago, IL. Currently the Investment Management team has approximately $5.0B in real estate assets under management across three separate accounts and is actively raising money for additional fund strategies.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Based in Chicago and reporting to the separate account portfolio managers, the Director will have
responsibility over all strategic, transactional, and operations issues for a to-be-determined portfolio
of primarily office and industrial assets located across the United States.

• Create strategic plans for each asset depending on the property’s individual requirements including valuations, cash flow projections, review and approval of annual operating and capital budgets
• Set, evolve, and execute redevelopment, leasing, and sale plans and direct all aspects of relationships with regional partners and providers of third party services including property management
• Aggressively and proactively predict and respond to dynamic market conditions
• Oversee the budget process for all assets under their management
• Work closely with leasing staff, regional partners, and third-party contractors to structure, negotiate, review and execute leases within portfolio of assets
• Monitor the overall performance of assigned properties against plan and budget
• Plan for and anticipate the cash flow needs for the assets as well as the underlying investors, monitor cash in/out of property accounts, and oversee all draw disbursements
• Provide high quality lender and investor reporting
• Support the execution of acquisitions, financings, and refinancings as required
• Continuously keep senior management, clients, and investors aware and up to date on evolving strategies and results
• Provide strategic, investment, and analytical direction and oversight to regional partners, third party service providers, and internal company personnel in creating and executing asset and portfolio plans

QUALIFICATIONS, SKILLS AND EXPERIENCE

Qualified professionals will have a minimum of seven to ten years of demonstrable success in the management of a portfolio of complex, diverse commercial real estate, including office, industrial, multifamily, and medical office. Additional experience in asset/portfolio reporting is strongly desired. Qualified candidates must possess the following requirements and characteristics:

• Proven track record of success and leadership, with past accomplishments clearly demonstrating a creative hands-on approach to, and understanding of, operations, leasing, development, capital markets, financing, marketing, investment, and ownership issues in managing challenging, “value-add” real estate properties
• Ability to positively impact such factors in continually meeting and exceeding ambitious investment/return performance objectives
• Proven experience successfully creating value at all phases of a property’s life cycle, from acquisition through disposition is essential
• Aptitude in reviewing and understanding sophisticated financial statements, leases and loan documents
• Ability to effectively manage less experienced analyst and associate staff to optimize work production while providing a mentoring relationship
• Managing and holding accountable regional partner relationships at both the development and operating levels is key
• Be conversant with industry trends and competitor firms
• A collaborative team player exceling in a professional environment characterized by empowered decision-making authority and a flat organizational structure
• Strong computer skills including Excel, Word, and ARGUS
• Good interpersonal instincts with the ability to constructively reconcile differences in a positive manner
• Excellent oral and written communication skills
• Unquestionable integrity and a strong work ethic
• A bachelor’s degree is required

COMPENSATION

The annual compensation for this role is expected to be approximately $240,000-$280,000. Actual base salary and bonus will be determined by several components, including but not limited to: relevant experience, skills and qualifications, base salary of internal peers, and geographic location. In addition to base salary, this role may be eligible for a discretionary annual bonus, LTIP and a variety of financial, wellbeing, and health / welfare benefits.

CONTACT INFORMATION

Shine Associates, LLC
45 School St., Suite 301
Boston, MA 02108

Hillary H. Shine, Principal Kelsey E. Shine, Director
Cell (203) 613-3562 Cell (508) 494-6569
[email protected] [email protected]

Chandlee N. Gustafson, Associate
Cell (978) 201-3100
[email protected]