Menu

Retail

Associate Asset Manager

Indianapolis, IN  •  Full Time

Job Description

Thompson Thrift Retail Group (TTRG) is seeking to hire a Full-Time Associate Asset Manager to work out of the corporate office in Indianapolis, IN. As the Associate Asset Manager, you represent Thompson Thrift Development (TTD), TTRG, and Investors (collectively Owners) interest to Property Management, Development and Financial Reporting groups. You will also perform various functions focusing on maximizing property NOI, value and investment returns for TTRG. 

In this role you will be responsible for accepting/approving rent structures, commercial deal terms and managing capital expenditures, researching the most consistent and highest sources of revenue, and reducing liability and risk of real estate management and transactions.

Responsibilities

  • Performance vs. Proforma/Budget (broken into three groups): 
    • 1. Legacy Properties (initial focus)
    • 2. Lease Up Properties (future focus)
    • 3. Development Properties (future focus)
  • Returns, Cash Position and Distributions based on Proformas and Budgets (as above) with an emphasis on suppling reporting, analysis and recommendations for Executive Committee.
  • Manages and leads the company’s diverse commercial real estate portfolio and initiatives.
  • Reviews market and initial site analysis, including trends, competition reports, general site information and setting of rental levels.
  • Assist in Preparing financial analysis to support commercial lease recommendations.
  • Oversees the development of property operating budgets and analyzes financial statements, property key metrics, industry benchmarking and other financial information for the entire retail real estate portfolio.
  • Negotiates and recommends the approval of all terms of a commercial lease contract with prospective landlords and partners with internal Legal team to edit lease agreements and necessary legal documents.
  • Actively participates in the investment committee meetings and decisions.
  • Creates and maintain valuations for assets under management.
  • Tracks lease expirations and ensures the property management teams are proactively managing expirations and renewals.

Additional Responsibilities 

  • Work with internal compliance team to maintain understanding and ensure compliance of relevant partnership agreements, loan covenants, and other contracts. Identify potential risks associated with these agreements and communicate timely and present mitigation strategies to senior leadership.
  • Provide guidance on capital improvement projects, unit renovations, leasing activities, marketing initiatives, revenue enhancement alternatives and expense management.
  • Provide strategic input regarding hold/sell decisions incorporating operations and capital markets knowledge
  • Monitors all leasing activity to insure maximum occupancy and income.
  • Renders assistance during disposition of properties.
  • Models a full lifecycle financial analysis for projects/assets in the portfolio.
  • Review and approve the Investor Update Reports before they are delivered to the investors.
  • Monitor investor distributions against our projections.

Skills and Abilities

  • Computer skills
    • Advanced knowledge of Microsoft Office software, including Word, Excel, Projects, and Outlook are required. Yardi experience preferred.
  • Entrepreneurial spirit 
    • It is essential for asset managers to be entrepreneurial since many of the activities involved, such as negotiations, approvals and lease analysis, require that risks be assumed, and forecasts made
  • Strong analytical skills
    • This skill is essential for evaluating and completing a wide range of real estate transactions and interpreting financial statements, trends and other statistical analysis.
  • Interpersonal skills 
    • This is required for establishing and building and maintaining relationship with relevant parties (management, investors, property managers, accounting, etc.) Strong organizational skills: This is essential for real estate asset managers to effectively coordinate and manage multiple assignments, as well as prioritize tasks and efforts
  • Negotiation skills 
    • Highly developed negotiation skills is required for negotiations with property owners, investors, and significant others.

Travel Requirements

  • You will make routine visits to assets under management. 

Education/ Experience

  • Bachelor’s degree in Finance, Accounting, Business, Marketing, or Real Estate is required. 
  • MBA is preferred. 
  • 2-4 years' experience working with retail real estate required. 
  • Extensive understanding of retail real estate required.
  • Current knowledge of industry trends in real estate and development required. 
  • Prior experience in commercial real estate analysis and asset management experience with an emphasis in retail and mixed-use properties required.
  • Experience in property management/leasing/operations is desirable; combined with finance or accounting experience preferred.

At Thompson Thrift, we work to fulfill our mission daily 'to positively impact our team members and the communities we serve.' As a successful, 30+ year development and construction company, we are looking for team members who are inspired by our mission and share our core values of leadership, excellence and service. Our property management teams work in a fun, fast-paced work environment and have tremendous room for professional growth. Full time position with benefit package including health insurance, vision, dental, short and long-term disability, 401K and paid time off.  

Are you ready to join our team?