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

  • The Assistant Vice President of Asset Management is responsible for independently managing the overall operational and financial performance of their assigned portfolio of assets
  • Works collaboratively with the Head of Asset Management Operations (direct supervisor) to achieve corporate asset management financial objectives and deliver value to shareholders
  • Ensures operational compliance with SEC, Sarbanes-Oxley, and REIT regulations
  • 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

  • Independently develop strategic asset business plans and achieve operational goals for assigned portfolio of assets by:
    • Communicating the asset-level strategy to and managing the local operational team(s) including property accountants, property managers, and building engineers
    • Optimizing building system performance
    • Controlling operating expenses
    • Forecasting revenue streams in accordance with lease terms
    • Proactively identifying and pursuing additional sources of revenue
    • Analyzing and evaluating all leasing / releasing activities
    • Developing capital plans for all building systems and equipment
  • Annually, develop 5-year operating budgets supporting optimized building operations
  • Create and maintain 5-year capital plans tracking contractual and general maintenance requirements to ensure long-term health and performance of assigned portfolio
  • Prepare budget reforecasts, as required, to support corporate finance objectives
  • Prepare detailed financial analyses to support recommendations to Senior Management on significant operational issues, capital expenditures, leasing activities, or other strategic initiatives

 

Asset Operations

  • On-board and manage lease novation process for newly acquired / constructed assets
  • Responsible for all aspects of lease administration, including, but not limited to:
    • Maintain compliance with all lease terms
    • Ensure accurate and timely revenue collections
    • Cultivate positive, long-term relationships with all tenant points of contact
    • Maintain internal electronic lease files and abstracts
    • Manage tenant disputes and claims
  • Responsible for all aspects of building operations, including, but not limited to:
    • Conduct periodic physical inspections of portfolio
    • Ensure optimal building system performance
    • Contract and oversee on-site personnel, such as property managers (internal and third-party), building engineers and vendors, in the operations of the building
    • Collaborate with on-site personnel to troubleshoot issues and determine the best solution to resolve the issue
    • Manage expenses in accordance with approved operating budgets
    • Execute approved capital reinvestment projects
    • Maintain compliance with all property-level loan covenants and restrictions
    • Oversee all matters related to real estate taxes and appeals
  • Support the Vice President of Leasing in the pursuit of all leasing activities within portfolio
  • Serve as project management executive for lease renewal tenant improvement and reimbursable projects:
    • Assemble project delivery team, including architects, general contractors, and any other required vendors
    • Negotiate pricing and contracts for construction services
    • Review, provide guidance, and approve architectural and mechanical plans
    • Ensure all projects are completed on-time and on-budget
  • Proactively identify potential tenant and/or operational issues to avoid protracted disputes or costly repairs

 

Financial Reporting

  • Weekly, provide portfolio overview of activities to Senior Management to review any new or ongoing issues that require Senior Management attention
  • 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
  • Monthly, report to Senior Management on the status of tenant reimbursable projects and approved capital projects
  • Monthly, coordinate with Property Accounting on month-end closing activities, to include invoice approvals, expense accruals, variance reporting, etc.
  • Periodically, coordinate with the Finance and Operations team to create and review the analyses that support the quarterly earnings model
  • Meet reporting requirements for property level loans, to include providing financial statements, rent rolls and other reports as required

 

Acquisitions and Dispositions

  • As requested, participate in due diligence review of potential acquisitions with particular attention to assumptions regarding operations and operating expenses
  • Review and recommend property managers and/or leasing agents for new acquisitions
  • Coordinate with Acquisitions team to onboard acquired properties, including development of initial operating and capital budgets and completion of lease novation
  • Assist Senior Management by identifying properties for disposition and preparing due diligence packages for properties slated for disposition

 

Required Skills / Qualifications

  • Undergraduate degree, additional education preferred
  • 10 to 15 years of relevant commercial real estate asset management experience
  • Strong understanding of advanced commercial real estate concepts and valuation techniques
  • Strong project management skills
  • Excellent verbal and written communication skills
  • Excellent planning, organization, and interpersonal skills
  • Ability to function independently within a collaborative, team-oriented setting
  • Attention to detail and ability to function under tight deadlines
  • Ability to work accurately and efficiently
  • Ability to handle multiple projects at one time
  • Strong sense of personal motivation and responsibility
  • Ability to clear GSA NACI & FBI LBI background checks

 

Desired Skills / Qualifications

  • Experience preparing commercial real estate operating and capital investment budgets
  • Experience managing teams of peers and subordinates
  • Intermediate experience using Microsoft Excel
  • Experience using Yardi

 

An Equal Opportunity Employer

 

 

Base Salary Range:  $160,000 – 180,000