Job Title: Asset Manager
Location: Spain, Madrid
Department: Asset Management
Employment Type: Full Time
To Apply: Please email a covering letter and your CV (stating the position you are applying for) to: firstname.lastname@example.org
The LaSalle Madrid office consists of a team of two, whose role is to acquire new and manage existing assets in Spain. The team is located in an office adjoining the JLL office.
Role and Accountabilities:
Direct responsibility for day-to-day management of the portfolio investments in Spain.
- Develop and recommend hold/sell strategy for each asset, and update annually together with Portfolio Management
- Develop annual property business budget together with external Property Management team.
Acquisitions and Disposals
- Assist with due diligence on acquisitions
- Assist Portfolio/Acquisition Manager in presentation of acquisitions and purchases to Investment Committee
- Check and approve final due diligence acquisition report
- Initiate property sales via selected agent consistent with conclusions of hold/sell business plan assessment.
- Manage sale process with agent, lawyer and property manager.
Capital and Revenue Improvement Planning
Determine what capital projects and leasing strategies are needed to:
- Increase, sustain or protect value
- Reposition asset to increase value
- Develop and execute works via appointment of suitable project team
- Implement lease surrenders, lease re-gearing, renewals, rent reviews and tenant mix improvements
- Identify and implement planning and change of use opportunities.
Valuations and Performance Measurement
- Supply base property information to Fund valuer.
Management of external Property Manager
- Regularly attend review meetings with the property manager
- Monitor their performance against KPI’s
- Tracking and monitoring of rent arrears
- Monitor data-base records, fully understand the property records database.
Management of Letting and Strategic Agents
- Develop and maintain strong relationships with main tenants
- Leasing, renewing leases, reviewing leases, dealing with planning aspects, re-modelling, extending and reconfiguring space, marketing and progressing asset management initiatives on a broad portfolio across all funds
- Establish letting strategy and objectives, and update regularly as required to reflect business plan and changes in the market.
- Define expectations regarding provision of market information (e.g. – trends, rental values, competing properties etc).
- Monitor and action critical lease events (rent reviews, expiries, breaks)
Finance and Accounting
- Review property rent and service charge collection
- Approve irrecoverable costs within discretionary levels set by house DA and client
- Ensure adherence to internal and audit controls
Client Reporting and Communications
- Give information to Portfolio Management in order to help them to prepare and deliver reports
- Work with Portfolio Manager to implement a “no surprises” communication policy.
Environmental and Sustainability
- Deliver asset management initiatives in line with house sustainability policies
- Critically assess asset performance and the positive/negative influences of environmental factors.
Required Qualifications & Experience:
- Fluent in Spanish and English
- A minimum 3-5 years’ experience together with sound and thorough understanding of retail asset management practice
- Proven track record of delivering investment performance through asset management of relevant asset classes especially with commercial leasing
- Ideally experience in the acquisition and disposal of investment property including responsibility for the due diligence process
- Strong numeracy, financial and computer skills and ability to understand the impacts of actions on a cashflow and fund returns.
- Adaptable team player with the ability to operate autonomously when needed
- Strong interpersonal skills with the ability to present to clients in both a verbal and written format
- Ability to work collaboratively with internal and pan-European teams including Fund Teams, analysts, finance, strategy and client services.
- Qualified surveyor or associate member of RICS would be an advantage but not a pre-requisite.
LaSalle is an Equal Opportunity Employer and encourages applications from all sections of the community