Presidio Bay Ventures, Inc. (“PBV”) is a real estate investment and development firm headquartered in San Francisco. Our team is focused on sourcing and structuring unique, value-add investment opportunities that generate attractive risk-adjusted returns, and our primary expertise is in new construction and major renovation of complex, large-scale office, multifamily and other special-use facilities. Since its formation in early 2012, PBV has executed on $5.6Bn+ of transactions projects seven states, representing over 5.3M square feet of development.
PBV is seeking to hire an Asset Manager who will be responsible for establishing best-management practices and instituting all necessary systems and processes at the corporate level to lead all property-level building operations, including leasing, tenant relations, personnel and vendor management, budgeting, building systems maintenance and the coordination and execution of required capital improvement projects. The role will focus on a range of asset types including Class A commercial office, large-scale mixed-use developments and multifamily projects. This individual will also perform project specific asset management duties, including coordination with PBV’s accounting team for on-going financial activity, budgeting and reporting, and assisting with external communication to tenants, investors, lenders and other stakeholders. As the PBV portfolio continues to grow, the Asset Manager will be responsible for hiring and managing all new personnel required to execute on property management duties. The successful candidate will have unparalleled opportunities for career growth within the real estate industry and will benefit from immediate project exposure consisting of the following:
- Existing operating portfolio of 300,000sf+ of Class A office and 500+ multifamily units
- Multiple large-scale, generational development sites or land assemblages spanning 10-100+ acres throughout the Bay Area
- ~1MM+ sf of Class A office and laboratory / life science space under construction and pre-development in San Francisco and the Peninsula
Pending performance and ability to take on additional responsibility, this is a highly unique and exciting opportunity for a qualified and enthusiastic individual to lead asset management strategy and execution for several key assets within the company portfolio within a highly entrepreneurial and dynamic team environment. The successful candidate will work closely with senior management to define the company’s asset management standards and will have the opportunity to grow a large team in the coming years as development projects are completed and stabilized.
This is a fulltime position with an expected base salary of $135k - $175k. Compensation structure will ultimately be defined based on the role placement and successful candidates’ experience level. In addition to a comprehensive and robust benefits package that includes, but is not limited, to the following:
- 401(k) matching contributions
- Employee and family health benefits
- Paid parental leave
- Company sponsored professional development coaching
- Co-investment opportunities in Company projects
- Company sponsorship of professional certifications and continuing education
- Flexible time-off and remote working policy
- Company sponsored philanthropic scholarship program to benefit underrepresented youth
Qualifications:
- BA/BS degree with strong record of academic achievement; graduate degree a plus.
- 5 years or more of senior commercial real estate asset management experience with a firm command of both office and multifamily assets is a prerequisite.
- Strong financial, oral and writing communication skills.
- Highly organized, detail oriented, and able to handle multiple projects in team settings.
- Proficient in Excel, Office, PowerPoint, Argus and willingness to adopt new technologies leveraged across the company’s portfolio
- Highly driven, with a positive, solution-oriented attitude and strong interpersonal skills
- Ability to think like an owner in all decision making
- Entrepreneurial spirit with a willingness to do what is necessary
- Ability to travel to properties within the Bay Area
Roles and Responsibilities:
- Participate in the drafting and implementation of strategic business plans for each asset that will govern its daily operations, position in the market, and ultimate disposition.
- Work closely with property management, brokers, consultants and attorneys to provide direction for and oversight of business plans, budgets, forecasts, leases, analysis and approvals.
- Make recommendations for the leasing strategy for each property and negotiate commercial and retail leases.
- Act as primary liaison between ownership and lender; cultivate positive relationships with various lender representatives.
- Oversee compliance with and performance of any obligation of the owners of each asset with respect to leases, easements, restrictions, covenants, conditions, mortgages, governmental notices and requirements, and other matters.
- Assist in preparing and reviewing annual budgets to ensure each property is properly maintained while eliminating unnecessary expenses, and oversee, direct and monitor implementation of the budget approved by ownership.
- Provide ongoing recommendation and oversight services with respect to capital improvements, including a detailed capital expenditure recommendation and plan for a 10-year period.
- Where required, identify and retain oversee third party property managers, vendors and subcontractors required for the successful operation of each asset.
- Oversee “brand awareness” and ongoing public relations protocols and efforts to support the ongoing.
- Identify and implement appropriate controls and standards for reporting, including use of different software and technology and enforce requirements on finance and accounting teams.
- Create, audit, and maintain Excel-based asset management models for each asset from acquisition through disposition. Prepare hold/sell analyses.
- Participate in the creation of monthly, quarterly, and annual reporting for ownership and senior management and assist in preparation of tax reporting documents.
- Manage property-level cash, project and recommend appropriate property-level contributions and distributions.
- Assist in the CAM estimate and reconciliation processes.
- Evaluate the local markets to identify changes and trends and the related impact on real estate values and investment strategies.
- Participate in the disposition process and assist with due diligence thru closing.
- Assist in evaluating potential equity and debt investment opportunities by building financial models.
- Assist with acquisition due diligence responsibilities and closing process.
Please send all inquiries to careers@presidiobay.com with your name and open job position in the subject header.
PBV is an equal opportunity employer and values diversity. All employment is decided on the basis of qualifications, merit and business need. PBV does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law.
