Asset Manager, Madrid

Company: LaSalle Investment Management
Job Title: Asset Manager
Location: Madrid
Department: Asset Management

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Team Overview

The LaSalle Madrid office consists of a team of two, whose role is to acquire new- and manage existing- assets in Spain.

 

 

Role and Accountabilities

Direct responsibility for day-to-day management of the portfolio investments in Spain.
Strategic Planning
  • Develop and recommend hold/sell strategy for each asset, and update annually together with Portfolio Management
  • Develop annual property business budget  together with Property Management

 

 

Acquisitions and Disposals

  • Assist with due diligence on acquisitions
  • Assist Portfolio/Acquisition Manager in presentation of acquisitions and purchases to Investment Committee
  • Ensure insurance cover is placed on exchange or completion of purchase
  • 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; Sustain or protect value & Reposition asset to increase value
  • Develop and execute works via appointment of suitable project team
  • Implement lease surrenders, regears, 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 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 relationships with main tenants
  • Leasing, renewing leases, reviewing leases, dealing with planning aspects, remodelling, 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 office and retail asset management practice
  • The ideal candidate brings experience and network for alternative assets (residential, student housing, etc)
  • 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
  • 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