Real Estate Asset Manager (Pcn 10-X010)

Alaska Mental Health Trust Land Office

Real Estate Asset Manager

Recruitment

Alaska Mental Health Trust Land Office Real Estate Asset Manager RecruitmentThe Alaska Mental Health Trust Land Office within the Department of Natural Resources is recruiting for the position of Trust Resource Manager, more specifically, Real Estate Asset Manager. This is a fully exempt professional position starting at $75,000 annually. The final salary will be negotiated at the time of hire and will be based upon the successful candidate's qualifications and experience. The position is located in Anchorage, Alaska, and is offered with a complete State of Alaska benefit package.

General Function

The Real Estate Asset Manager is part of a two-person team. Working under the Chief Real Estate Officer, this team is charged with all aspects of real estate development and management of the real estate portfolio for the Trust Land Office. This position focuses on managing the performance of the real estate investment portfolio and the program-related real estate portfolio, with involvement in ground leases and development projects. There is an emphasis on managing, evaluating, and reporting on the financial aspects of the real estate investment portfolio and making related recommendations to leadership based on industry best practices and investment theory. The position will include participation in our leasing efforts and potential asset dispositions.

The position manages the properties that make up the real estate investment portfolio across four states through property managers and other contractors. The manager ensures that the commercial real estate assets are well maintained, occupied, and attractive for investment properties. The manager appropriately plans property operating budgets, including capital expenditures, performs internal audits of property expenditures, conducts risk management activities, and takes part in performing the overall real estate program's financial analysis, planning, and reporting activities. The manager assesses the merit and viability of existing real estate assets and tracks market trends as they relate to the properties. This position makes recommendations to leadership regarding strategy and may participate in high-impact negotiations.

This position is expected to perform with a self-driven initiative, following best practices for property management. The manager also completes other commercial real estate transactions, such as land leasing, improvements, contracting, and land development agreements. The position may work with other staff and contractors on aspects of commercial real estate property acquisition and disposal.

Distinguishing Characteristics

This position serves under the Chief Real Estate Officer as part of a two-person team and is a supporting role regarding large or complex real estate transactions. The position receives guidance and mentorship in commercial real estate investment and asset management from the Chief Real Estate Officer.

Examples of Duties

• Analyze the continued investment merit of the existing commercial real estate investments and make proposals to leadership.

• Perform market research, macroeconomic analysis, tenant financial analysis, investment due diligence, and risk evaluation and make proposals to leadership.

• Prepare financial analysis, terms, risks and returns as part of packages for the Board of Trustees' approval of new and existing real estate investments as part of a team.

• Evaluate the impact of alternative projects or investment dynamics and recommend optimum structure and terms that best promote the Trust's interests.

• Participate in real estate negotiations that may be of significant impact to the Trust.

• Assess the financial impact of various financing/re-financing options for new and existing real estate investments.

• Work with outside partners to negotiate and execute terms and legal documents necessary to complete agreed-upon lending arrangements.

• Work with property managers to prepare pro forma and budgets for specific real estate projects.

• Analyze performance against project budgets and prepare written reports regarding performance and variances.

• Conduct regular financial reporting on all assets and assist with regular audits of asset performance.

• Provide backup to the Chief Real Estate Officer.

• Other duties as assigned.

Knowledge, Skills, and Abilities

• Broad mathematical ability necessary to apply financial concepts to investment analysis, including the ability to apply and understand the implications of concepts such as financial ratios, present value, discounted cash flow, residual values, and internal rate of return; also the ability to understand and work with mathematical procedures such as trend analysis, probability and statistics, as well as accounting concepts such as expense vs. capitalize, operating vs. capital leases, and rent vs. own decisions.

• Ability to understand and interpret financial statements, including a thorough knowledge of the practice of financial and investment analysis and business valuation as they pertain to the acquisition or divestiture of real estate assets and commercial leasing transactions.

• Knowledge of financing/refinancing concepts with respect to appropriate structure, fees, borrowing rates, collateral, guaranties, and other forms of credit support.

• Ability to work within real estate financial software such as Yardi.

• Understanding and experience conducting appropriate due diligence work and analysis.

• Ability to work effectively with and manage a wide variety of contracted professionals involved in real estate, including attorneys, architects, engineers, real estate consultants, developers, investors, contractors, appraisers, purchasers, and sellers, as well as with management and staff, and public officials in various levels of government.

• Excellent written, verbal, and technical skills appropriate for communicating with legal, financial, technical, and managerial professionals, management and staff, and a wide range of third-party professionals.

• Analytical and verbal skills necessary to assist or represent executive management in negotiating and evaluating the implications of the commercial terms of investment or tenant leasing transactions and to interpret and discuss legal documents pertaining to new and existing investments.

• A thorough understanding of rights and titles related to real estate, including, but not limited to, conveyances, assignments, leasing, and sales.

• Ability to analyze, negotiate, structure, and create commercial real estate ground leases of various forms.

• Ability to evaluate regulatory constraints, local zoning, platting, and other ordinances related to asset management.

• Ability to properly order, review, and make recommendations on real estate appraisals.

Bachelor's degree in business management, accounting, finance, real estate, or a related field; master's degree preferred, but not required,

AND

Three years of progressively responsible recent experience in real estate development, property management, asset management, construction, financing, valuation, or related areas.Travel

This position requires travel as needed within and outside of Alaska to effectively manage the real estate investment portfolio and program-related real estate portfolio.

EEO Statement

The State of Alaska complies with Title I of the Americans with Disabilities Act (ADA). Individuals with disabilities who require accommodation, auxiliary aides or services, or alternative communication formats, please call 1-800-587-0430 or 465-4095 in Juneau or (907) 465-3412 (TTY) or correspond with the Division of Personnel & Labor Relations at P. O. Box 110201, Juneau, AK 99811-0201. The State of Alaska is an equal-opportunity employer.How to Apply

To apply for this position, please email Blain Alfonso at Blain.Alfonso@alaska.gov and include a cover letter, resume, writing sample, and three professional references. Inquiries are confidential. The position will remain open until filled.

The State of Alaska is an equal employment opportunity employer and supports workplace diversity. Individuals requiring accommodation should call 1?800?587?0430 V/1?800?770?8973 TTY/TDD (Relay Alaska).