Retail Asset Manager

Newcastle Limited is a real estate investment and operating company that acquires, develops, and owns retail, multifamily, and mixed-use properties in urban Chicago. The firm’s growing portfolio includes 3,000 apartments and 600,000 square feet of retail space valued at $1.5 billion. An entrepreneurial investor with institutional backing, Newcastle can deploy large amounts of capital and close deals quickly. Newcastle has delivered outstanding returns to its capital partners for two decades and is poised for substantial growth. For more on Newcastle Limited, visit www.newcastlelimited.com.

POSITION SUMMARY

Newcastle’s Retail Asset Manager is responsible for maximizing value and cash flow for the firm’s expanding retail portfolio of 70 assets serving 175 tenants. The Asset Manager, collaborating with the firm’s development, retail leasing, and operations teams, creates and executes asset business plans that lay out the most profitable path forward for each asset. They make asset investment decisions that increase portfolio returns and communicate asset performance to senior management and the firm’s capital partners. This team player will work with Newcastle’s finance division to secure debt financing for portfolio assets.

This dynamic position requires a resourceful self-starter who thoughtfully evaluates, makes, and communicates investment decisions. The Retail Asset Manager’s experience enables them to evaluate complex retail leases and navigate complicated asset challenges. They prioritize day-to-day tasks to achieve long-term asset and portfolio goals. The Retail Asset Manager works independently but knows when to collaborate and delegate.

This opportunity includes:

CREATING AND EXECUTING ASSET STRATEGY

• Create and carry out long-term retail asset business plans. Coordinate with operations, retail leasing, finance, and development divisions to achieve asset goals.
• Capitalize on asset opportunities, mitigate asset risk, and overcome asset challenges.
• Oversee long-term capital investment to maximize return on investment.
• Manage projects to budget and schedule.
• Oversee market research to support business planning, decision making, and firm-wide initiatives.

DEVELOPING VALUE-MAXIMIZING LEASING STRATEGIES

• Develop long-term leasing plans for retail assets.
• Evaluate lease alternatives to grow value, increase cash flow, and reduce risk.
• Manage exposure to individual tenants and industry segments.

STEERING ASSET PERFORMANCE

• Oversee and communicate retail asset performance.
• Develop annual budgets and quarterly forecasts in partnership with Retail Operations.
• Establish key performance indicators and benchmark against relevant peers.
• Orchestrate quarterly valuation process for all retail assets using discounted cash flow technique.
• Develop tax strategy and manage tax consultants to appeal assessments and minimize taxes.
• Oversee asset litigation as needed. Coordinate internal professionals and outside attorneys to achieve desired outcomes and mitigate costs.

LEADING TEAM MEMBERS TO ACCOMPLISH FIRM GOALS  

• Delegate, teach, and direct analysts to accomplish company goals.
• Coach and develop analysts for increasing responsibility.

QUALIFICATIONS

Newcastle seeks a highly organized, motivated critical thinker who exercises sound judgment, has a positive attitude, a strong work ethic, and excellent follow-through. The ideal candidate will possess many of the following qualifications:

• College degree in real estate, business, finance, economics, or a related field
• 5+ years of retail asset management experience
• Experience managing, training, and developing junior staff
• Expertise evaluating retail leases and other legal contracts
• Ability to interpret financial statements and develop property budgets and forecasts
• Expertise in discounted cash flow asset valuation
• Ability to persuasively present findings and recommendations to senior management and capital partners
• Proficiency in Microsoft Office (Excel, PowerPoint, Word), experience with Argus and Yardi