Black Creek Group is a leading real estate investment management firm that has bought or built over $23 billion of investments throughout its more than 25-year history. The firm manages diverse investment offerings across the spectrum of commercial real estate – including office, industrial, retail and multifamily – providing a range of investment solutions for both institutional and wealth management channels. Black Creek Group has seven offices across the United States with approximately 300 professionals and is a place for people who are driven to achieve, are never content with the status quo and who value collaboration and communication. We believe that if you love your job, it doesn’t feel like work.
To learn more about us, please visit our website at www.blackcreekgroup.com or our LinkedIn Page.
This position will work on the Retail Asset Management team and assist in operating and managing a $950 million portfolio consisting of 27 retail properties totaling more than 3.3 million square feet. The role includes direct operational responsibility for primarily grocery-anchored shopping centers and entails the oversight of the day-to-day operations of each assigned asset, as well as the development and implementation of long-term strategy and value creating initiatives. Such responsibilities directly affect the key operations of the business.
- Develop the strategic plan for the retail portfolio, including the formation of each assets leasing strategy, merchandising mix and long-term value creation initiatives, as well as preparation and completion of annual budgets and business plans.
- Manage third-party property management teams, internal and external leasing teams, and construction management teams in all aspects of property operations
- Review valuation analyses to develop recommendations for potential leasing transactions and redevelopment / repositioning opportunities, as well as capital allocation and implementation
- Work to ensure all leases are financially structured to maximize profitability for the monthly NAV model, while minimizing risk, using financial modeling and analysis. Such analysis includes the comprehensive review of tenant financial statements, economic terms compared to current underwriting or budget assumptions, and an overall evaluation of market conditions and suitability for the property or portfolio
- Ensure accurate and timely submittal of management reporting on the portfolio: review of monthly third-party reports as well as assisting in the compilation of internal asset management portfolio reports
- Manage the asset management analyst team in conjunction with all primary responsibilities, including financial analysis and reporting components for the overall retail portfolio
- Assisting with due diligence efforts performed during the acquisition phase, specifically: tenant interviews, underwriting assumptions (market rent, lease up timing, leasing costs, and capital improvements) and third-party reports (environmental and engineering reports) for future acquisitions.
- Professionally represent DPF to the broader real estate community (e.g., brokers, bankers and other service providers)
- Complete special projects as assigned
Knowledge, Skills and Abilities
- 4-6 years of relevant operational experience with prior experience in retail asset management or acquisitions
- Ability to comprehend, analyze, interpret and create real estate documents including, but not limited to, LOIs, RFPs, property offering memorandums, market reports and tenant leases
- Experience and understanding of financial concepts specifically relating to asset values derived from pro forma cash flows and capital markets assumptions
- Excellent written and communication skills preferred
- Self-starter with a strong work ethic and a vested interest in the real estate profession
- Bachelor’s degree with undergraduate coursework in business, finance, accounting; with a strong understanding of real estate finance principles and outstanding academic credentials
- Ability to work within a broader team, as well as on an independently, as needed to complete tasks
- Strong written and verbal communication skills with an ability to manage multiple projects simultaneously and to manage both internal and external teams
- Ability to travel domestically (10%)
The anticipated range for this position is $90,000 - $155,000 annual base salary plus annual discretionary performance-based bonus. Actual pay may be adjusted based on experience and performance.
- Medical/Rx, dental, vision, flexible spending accounts, Health Savings Account with ability to earn company contributions, company paid short term and long-term disability, company paid and voluntary life insurance, EAP
- 401k plan with company match
- Flexible Time Off, parental leave
- Asset Management
2+ to 5 years
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