Director - Asset Management
Location: San Francisco, CA
As a Director – Asset Management with Hines, you will be a critical part of the Asset Management team on all new acquisitions and existing assets across a geographic market-based, product type diverse portfolio. At this level, three options exist for career progression in asset management at Hines:
- Director-level asset managers may be generalists supporting a portfolio with 1 to 3 product types including office, industrial, and retail/mixed-use.
- Director-level asset managers may become Living sector product specialists that report within the Living sector Asset Management function with a portfolio of living assets only.
- Director-level asset managers may develop non-living product type expertise and “double hat” overseeing a portfolio and serving as an expert resource for the Americas Asset Management platform for that product type.
- Client-centric Strategic and Financial Leadership: Lead the creation of short- and long-term asset strategies with the Leasing and Operations/ Property Management teams. All strategies should be designed to maximize asset value and optimize customer satisfaction. Oversee periodic valuations of each asset in conjunction with Finance; Asset Management will be responsible for authoring the model that reflects current contractual revenues, operating expenses, as well as projections for speculative income and related costs, capital expenditures, market-based growth assumptions, etc. You will be responsible for obtaining approval for assumptions and ensuring the accuracy of the underlying model.
- Asset Management: Address mid-level issues within the portfolio with measured, data-driven, independent decision-making. Communicate high-level issues along with recommended solutions to the Managing Director – Asset Management.
- Performance Monitoring and Evaluation: Develop a deep understanding of the asset’s performance in comparison to its competitive set, evaluating real estate and capital market trends and providing a data-supported evaluation of performance to Asset Management leadership. Understand the current value and projected future performance of each asset within the context of investor goals and objectives; review analyses to make hold/sell recommendations to Asset Management leadership.
- Goal Setting and Accountability: Create periodic property valuation analyses for each asset, supported by market analysis. Review detailed leasing objectives, operating and financial budgets, project plans, and annual plans developed by Asset Management Associates and provide necessary feedback to course-correct as appropriate in arriving at a well-supported property valuation. Establish clear, challenging for onsite property management teams to elevate asset performance.
- Data-Driven Decision Making: Monitor property operating and financial performance to ensure established goals and objectives are being achieved. Discuss material variances with Associates and Analysts to determine key drivers and identify potential pathways to mitigating unfavorable performance variances.
- ESG/Sustainability: Prioritize implementation of firmwide ESG and sustainability goals. Explore innovative opportunities to enhance and expand ESG and sustainability initiatives.
- Entrepreneurial Creativity: Solve mid-level asset issues with a sound, creative approach to problem solving.
- Smart Risk-Taking: Oversee Associates to ensure that partnership and loan document requirements are satisfied. Encourage Leasing and Property Management teams to deploy smart risk-taking to deliver distinguished returns.
- Data-Informed Decisions: Consider review comments of Associates and along with independent review, approve all monthly, quarterly, and annual property reporting required by Owner and Lender, raising any potential concerns to Managing Director – Asset Management.
- Senior Leadership: Manage the leasing activity of certain assets to include leasing agent selection and management, commercial lease analyses, drafting proposals, negotiating economic/legal terms, and working closely with legal counsel in review of lease documents; review and approve all applicable authorizations and lease documents prior to ownership execution.
- Cross-Functional Collaboration: Conduct due diligence and assist in closing new business pursuits; work effectively with business generation colleagues in the geographic market. If product type specialist, function as expert resource across Americas Asset Management platform
- Executive Influence: Comply with all Hines policies and procedures. Mentor and train Analysts and Associates in the Hines culture and best practices. Motivate property management teams with servant leadership
- Effective Communication: Highly passionate and articulate in communicating across the asset management platform or across disciplines as an esteemed partner to business generation and management services. Excellent interpersonal skills.
- Team: Be a great teammate with a focus on the client-centric asset management function. Mentor / coach analysts and associates to develop deep understanding of Hines, Asset Management best practices,
- Change Management: Demonstrate the ability to manage change at an organizational and strategic level as an effective teammate.
- Integrity and Forethought: A leader who demonstrates a high degree of integrity and forethought in decision-making, with the ability to act in a transparent and consistent manner, always considering what is best for the investor, customer, team and organization.
- Fiduciary Mindset: Demonstrate the ability to act in the best interest of the company, the investor, and the asset, ensuring alignment of actions with organizational goals and values.
- Financial Planning and Analysis: Analyze Americas-wide reporting packages that cover historical, current, and projected operating and financial performance. Activate creative measures as the asset level with management services, leasing, and other disciplines to effectively and meaningfully grow Net Operating Income (NOI).
- Investor and Tenant Reporting: Utilize Hines standardized reporting practices to enhance proactive communication with transparency, consistency and accessibility of information.
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