Associate in Asset Management

Position Overview

Ultimate Staffing Services is actively seeking a talented Associate in Asset Management to join a dynamic team based in California. This role is crucial for managing and optimizing the performance of shopping center assets, providing strategic oversight and financial management, and ensuring compliance with all relevant regulations. This position is an excellent opportunity for a skilled professional to contribute to a vibrant and growing organization.

Key Responsibilities

Financial Management

• Oversee physical assets in partnership with property managers by planning, organizing, and directing operational activities.
• Assist in developing strategic asset management plans.
• Develop and execute financial strategies to optimize shopping center performance.
• Monitor and analyze property financials, including rent rolls, budgets, and operating expenses.
• Supervise budgeting and forecasting processes.
• Review vendor contracts and pricing to ensure operational efficiency.

Lease Administration

• Oversee lease negotiations, renewals, and relocations.
• Ensure compliance with lease terms and agreements.
• Develop asset strategies, including renewals, acquisitions, and dispositions.

Acquisitions

• Source, underwrite, and evaluate acquisitions through market research, financial modeling, and due diligence.
• Utilize ARGUS for cash flow modeling, investment analysis, and valuations.
• Prepare investment memoranda and present recommendations.
• Coordinate due diligence, including legal, environmental, and financial reviews.
• Support transaction structuring and negotiations.
• Use advanced Excel for financial modeling and reporting.
• Partner cross-functionally with finance, property management, and external stakeholders.

Property Maintenance & Improvement

• Oversee property maintenance and ensure assets are well maintained.
• Utilize Yardi to manage operations, budgets, CAM reconciliations, and invoices.
• Partner with property management for operational oversight and compliance.
• Manage vendors and service providers.
• Oversee capital improvement projects.
• Review AR/AP reports to monitor collections and payments.

Market Research & Analysis

• Conduct research using CoStar and industry tools to analyze market trends and rental rates.
• Maintain market intelligence to support acquisitions and portfolio strategy.
• Ensure underwriting aligns with internal standards and best practices.

Leasing & Occupancy

• Support leasing efforts, including tenant sourcing and lease negotiations.
• Optimize occupancy and minimize vacancies.
• Partner with marketing to attract and retain tenants.

Legal & Compliance

• Ensure compliance with all local, state, and federal regulations.
• Manage lease disputes and property-related legal matters.

Reporting & Analysis

• Prepare performance reports, including financial and operational analysis.
• Evaluate maintenance budgets and operational efficiency.
• Maintain quality assurance standards.
• Recommend strategies to improve asset value and profitability.
• Track and assess market trends.

Risk Management

• Ensure compliance with safety, environmental, and building regulations.
• Review asset documentation, warranties, and service agreements.
• Identify and mitigate operational risks.
• Implement emergency response and crisis management procedures.

Qualifications

• Bachelor's degree in Business, Real Estate, Finance, or related field.
• 5+ years of commercial real estate/asset management experience (shopping centers preferred).
• Strong financial analysis, budgeting, and forecasting experience.
• Experience with lease negotiations and tenant relations.
• Proficiency in ARGUS, Excel, and Yardi preferred.
• Strong communication, negotiation, and problem-solving skills.
• Highly organized with strong project management abilities.
• Ability to work independently and cross-functionally.

Required Work Hours

Monday to Friday, 8:00 AM - 5:00 PM

Benefits

• Medical, dental, and vision insurance (100% employer-paid) after 60 days.
• 401(k) eligibility after 90 days.
• 9 paid holidays.
• Up to 10 vacation days (accrue after 30 days, use after 90 days).
• 5 paid sick days after 90 days.

Location

California

Salary: $100K

All qualified applicants will receive consideration for employment without regard to race, color, national origin, age, ancestry, religion, sex, sexual orientation, gender identity, gender expression, marital status, disability, medical condition, genetic information, pregnancy, or military or veteran status. We consider all qualified applicants, including those with criminal histories, in a manner consistent with state and local laws, including the California Fair Chance Act, City of Los Angeles' Fair Chance Initiative for Hiring Ordinance, and Los Angeles County Fair Chance Ordinance.