Private real estate investment firm headquartered in Rosemont, IL seeks Vice President, Leasing & Asset Management to join our accomplished team in our Indianapolis office. This is an exciting opportunity to work in the real estate industry for one of the top 20 global industrial real estate owners: In 2017 we executed over $1B in transactions. Our current portfolio spans 27 states and encompasses 35 million square feet, and our organization demonstrates a proven track record as well as an entrepreneurial spirit and vision for the future.
The Vice President, Leasing & Asset Management will play a dynamic role overseeing all leasing and asset management activities for our Indianapolis, Cincinnati, Nashville, and Louisville portfolio which encompasses approximately 1.5 million square feet of assets. The Vice President will serve as the single point of contact for brokers and tenants and will be responsible for negotiating new leases, lease renewals/expansions, user sales, as well as oversee the overall investment performance. In addition to leasing and asset management responsibilities, the Vice President will be involved in the sourcing, and underwriting of new acquisition and development opportunities. The Vice President is a high-visibility role with direct lines to senior management as well as regular engagement with the CEO and CIO of the company.
– Develop the asset management strategy for the Indianapolis, Cincinnati, Nashville, and Louisville markets with input and oversight from senior management.
– Establish and foster strong broker and tenant relationships to promote occupancy and portfolio retention rate.
– Regularly visit the properties in each market to keep constant contact with tenants, brokers, and vendors.
– Oversee the property management and work closely with contractors to expedite the space planning and tenant improvement process to maximize leasing velocity.
– Liaise with tenant contacts and manage the property management process to communicate property information and tenant space needs to appropriate parties.
– Negotiate and document new leases and renewals directly with tenants or via third-party leasing agents.
– Prepare, present, and execute comprehensive leasing plans for each asset with the goal of maximizing rents and creating value.
– Forecast competitive space availablity for each property and develop marketing/pricing recommendations to maximize the asset value of each property
– Collect and organize market information including lease and sale comparables to gain a competitive advantage in the leasing and sales market.
– Make recommendations and assist in the coordination of property improvements designed to supplement the leasing process.
– Work with Acquisitions team on sourcing, underwriting and due diligence for new acquisitions and developments.
– Work with Dispositions team on due diligence and execution of sales and recapitalizations.
– Regularly review the portfolio for opportunities to upgrade tenancy, increase rent and term and improve lease language/provisions to add long-term value to the assets.
– Continuously evaluate operating cost by monitoring each property’s performance and results against approved budgets, recommending and/or approving necessary adjustments to achieve the scheduled cash flow or asset value objectives.
– Review monthly operating reports for each property including asset summary reports, financial statements, and variable explanations, leasing activity reports, rent roll, accounts receivable, fee schedules, and capital expenditure schedule. Use and implementation of lease administration software including VTS.
– Minimum of 5 years’ related work experience including industrial real estate property management/ lease administration, real estate brokerage, or sales
– Excellent skill working with legal documents, especially leases; contract review and negotiation; full understanding of lease terminology, calculations, financial terms and principles
– Ability to analyze financial data per lease and industry standard data including market information, lease comps, sale comps and competitive property surveys
– Advanced skills in Excel; knowledge of Argus and VTS
– Entrepreneurial drive and proactive approach
– Ability to effectively communicate complex issues both verbally and in writing to senior management
– Exceptional attention to detail; superior critical thinking and analysis skills
Private real estate investment firm headquarted in Rosemont, IL seeks Senior Director of Underwriting / Due Diligence to join our accomplished Senior Management team. This is an exiting opportunity to work in the real estate industry for one of the top 20 global industrial rest estate owners: In 2017 we executed oer $1B in transactions. Our current portfolio spans 27 states and encompasses 35 million square feet, and our organization demonstrates a proven track record as well as an entrepreneurial spirit and vision for the future.
Our Due Diligence Department serves as the key to all our investment activities, whether selling, purchasing, or recapitalizing projects. The department is the crux of all our company’s investment operations, and the Director reports directly to the Chief Investment Officer while working closely with the entire senior management team. Additionally, this position affords tremendous exposure to many key industry associates, including direct involvement with both domestic as well as foreign institutional partners.
– Direct entire due diligence process of acquiring, disposing and developing properties, including:
Acquisitions– work with Legal team through early contract negotiations and when ordering title/survey; order/review various reports; review leases and terms as well as service contracts and warranties; review historical financials and CAM recs; prepare CapEx schedule; prepare closing statements including all prorations and other supporting schedules; set up escrow accounts and monitor earnest money and lender deposits
Dispositions– gather and deliver all seller documents to purchaser and work with purchaser for all questions related to financials, reports, and leases; assist Legal team with preparing estoppel letters and SNDA’s; prepare closing statements including all prorations and other supporting schedules; monitor earnest money and l ender deposits; create disposition models including cash flow waterfalls and IRR analysis
Development– oversee development process as it relates to approved investment parameters; manage escrow ‘control’ fund for all draws, tracking construction draws and lien waivers
– Manage Due Diligence team
– Review complex financial analyses including cash flow projections, operating pro formas, valuations, discounted cash flow analysis, investment returns and sensitivity analyses on prospective property acquisitions and development. Prepare Investment Committee presentations.
– Create, manage and update reports, project budgets, and schedules
– Support overall execution of transactions with tasks related to analysis, research, due diligence, and closings, including coordinating with title company and preparing closing statements
– Conduct property-level due diligence including review of leases, property financial information, and third-party physical/environmental reports
– Analyze and compare complex partnership agreements and cash flow waterfalls for presentation to CEO
– Manage project pro formas including budgets, schedule, timing, and underwriting assumptions; validation of budgets, assumptions, and pro forma analysis
– Contract negotiation and review of legal documentation for each project, working closely with in-house legal department
– Liaise between buyer and seller to coordinate the processes necessary, manage contact lists, prepare closing file documents and oversee post-closing items to ensure smooth transition to Asset Management and Accounting teams.
– Liaise with brokers, attorneys, accountants, lenders, engineers, vendors etc.
– Negotiate credit agreements and other transaction documents; facilitate pre- and post-closing transaction processes, coordinate with legal counsel, appraisers, auditors, consultant and other deal service providers
– Oversee the post-closing transition process from Acquisitions to Asset Management and Accounting including the business plan, property management oversight, and budget preparation
– Oversee post-closing sale action items with Asset Management and Accounting including sale distributions, entity winddown and remaining property obligations
– 7-10 years of experience within the industrial/commercial real estate industry
– Familiarity with investments/divestments within the CRE business; real estate investment analysis experience
– Strong background in accounting and finance
– Extensive transactional experience, with strong quantitative and analytical skills; proven track record of creating and closing CRE transactions
– Excellent organizational and project management skills
– Ability to work effectively under pressure and engage in multiple concurrent projects within time constraints
– Advanced-level Excel and Argus skills including financial modeling
– Proven business and financial acumen
– Exceptional verbal and written communication skills