The Retail Portfolio Manager oversees and directs a portfolio of retail property management activities related to the organization's diverse Retail Portfolio, as well as actively participate in acquisitions of retail properties and the growth and future development of the Company's third-party management business. Supervises and directs activities of on-site and off-site property management staff. The position is responsible for the overall successful operation of the retail property management group, working to ensure that the retail property management group always surpasses industry standards.
ESSENTIAL FUNCTIONS/MAJOR RESPONSIBILITIES
- Participates in the preparation of the initial Strategic Plan.
- Participates in the acquisition process, reviews third party due diligence reports, and participates in tenant interviews. Assists the Asset Manager in connection with the disposition of retail properties.
- Plays a key role in ensuring a smooth transition to the retail property management group post closing.
- Responsible for the timely preparation of the annual property budgets, with input from Institutional Investors, Principals, Property Managers, the Facilities Manager and the Asset Managers, and subject to review by the Company's CFO.
- Analyzes monthly performance and monthly reforecasts. Compares to Strategic Plan and Budget and offers recommendation for adjusting strategies as appropriate. Reviews and stands by the timely and accurate preparation of monthly and other property management reporting.
- Sets performance goals by project, monitors performance, submits strategy goals, adjust recommendations, as appropriate.
- Monitors market conditions regularly and communicates data to the Asset Manager including any market changes that need to be evaluated.
- Works with retail property management staff to manage commercial leases including assessing and calculating annual CAM's, monitoring lease compliance.
- Assists with Leasing, particularly with transactions involving existing tenants. Reviews lease document drafts, leasing proposals, commission agreements. Works with facilities manager to prepare accurate budgets for tenant and building improvement construction projects.
- Participates/oversees construction projects when necessary.
- Continually enhances industry knowledge and expertise through real estate and property management publication, reports and seminars.
- Works with staff to ensure maximum use of property management software.
- Working closely with Director of Retail Property Management to develop, implement and adjust, when appropriate, a plan to foster the growth of the Company's third party retail property management business.
- Conducts and/or facilitates regular training meetings with property management staff. Evaluates and recommends additional trainings for staff as needed.
- Promotes communication and collaborations between departments.
REPORTING, COMMUNITY INVOLVEMENT AND PROFESSIONAL DEVELOPMENT
- Prepares and presents departmental reports relating to project performance, goals, standards, benchmarks, etc.
- Maintains good working relationship with community partners and attends industry association meetings, trainings, etc.
- Maintains appropriate CEU's to ensure any Real Estate license requirements are met.
- Willing to sit of various committees pertinent to department ad organization goals and standards.
- Stays abreast of property management and other real estate related industry standards, legislation impacting department and industry practices, policies and procedures.
- Regularly communicates and cooperates with Asset Management staff on all PM reporting and regulatory issues.
It is essential that the Portfolio Manager reflects and adheres to the highest standards of ethical behavior. He or she is expected to express a professional, courteous attitude, as well as be team oriented. Contacts are normally made with other both inside and outside the organization. External contacts occur with investors, regulatory agencies, vendors, and community partners. Internal contacts occur with all levels and areas of the organization, including other department heads, asset managers and staff. Contacts are usually made on own initiative and often concern confidential or sensitive matters requiring the use of discretion, negotiation or persuasion.
- Strong knowledge of property management and tenant/landlord practices, laws, rules and regulations. Good command of commercial management and leasing practices.
- Ability to analyze, evaluate and act on issues and/or problems, reach sound conclusions and take appropriate action.
- Possess good verbal, written and interpersonal communication skills, as well as good computer skills. Experience with property management software helpful.
- Assist the third party Risk Advisor with M & J and property related insurance issues, including the Tenant & Vendor Certificate procedures and the placement of the property policies.
EDUCATION and/or EXPERIENCE
- Bachelor's Degree in business, real estate development or related field preferred with sufficient experience to provide strong leadership in property management practices and techniques.
- A minimum of 5-8 years equivalent level experience covering onsite experiences as a general property manager, as well as in managing a property management department or division strongly preferred.
- Supervisory experience required. CSM and Real Estate Broker license preferred.
Position experiences interruptions, need for frequent shifting priorities and deadlines. Requires site visits. Proof of valid driver's license and vehicle liability insurance is required. Regular travel required in connection with the management of existing properties and acquisition opportunities. The position may occasionally require attendance at evening meetings. Regular attendance is a prerequisite in accordance with a regular schedule established for the position by the Director - Retail.
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