Director - Asset Management

Overview

When you join Hines, you will embark on a career journey fueled by vision and guided by leaders who set the standards of our industry. Our legacy is rooted in innovation and excellence, earning us a spot on Fast Company's esteemed annual list of the World's Most Innovative Companies, as well as recognition as one of U.S. News & World Report's Best Companies to Work For in 2024. Discover endless opportunities to grow and make your mark at Hines.

Responsibilities

As a Director - Asset Management with Hines, you will be a critical part of the Asset Management team on all new acquisitions and existing assets across a geographic market-based, product type diverse portfolio. At this level, three options exist for career progression in asset management at Hines:

• Director-level asset managers may be generalists supporting a portfolio with 1 to 3 product types including office, industrial, and retail/mixed-use.
• Director-level asset managers may become Living sector product specialists that report within the Living sector Asset Management function with a portfolio of living assets only.
• Director-level asset managers may develop non-living product type expertise and "double hat" overseeing a portfolio and serving as an expert resource for the Americas Asset Management platform for that product type.

Create Value and Grow the Legacy

• Client-centric Strategic and Financial Leadership: Lead the creation of short- and long-term asset strategies with the Leasing and Operations/ Property Management teams. All strategies should be designed to maximize asset value and optimize customer satisfaction. Oversee periodic valuations of each asset in conjunction with Finance; Asset Management will be responsible for authoring the model that reflects current contractual revenues, operating expenses, as well as projections for speculative income and related costs, capital expenditures, market-based growth assumptions, etc. You will be responsible for obtaining approval for assumptions and ensuring the accuracy of the underlying model.
• Asset Management: Address mid-level issues within the portfolio with measured, data-driven, independent decision-making. Communicate high-level issues along with recommended solutions to the Managing Director - Asset Management.
• Performance Monitoring and Evaluation: Develop a deep understanding of the asset's performance in comparison to its competitive set, evaluating real estate and capital market trends and providing a data-supported evaluation of performance to Asset Management leadership. Understand the current value and projected future performance of each asset within the context of investor goals and objectives; review analyses to make hold/sell recommendations to Asset Management leadership.
• Goal Setting and Accountability: Create periodic property valuation analyses for each asset, supported by market analysis. Review detailed leasing objectives, operating and financial budgets, project plans, and annual plans developed by Asset Management Associates and provide necessary feedback to course-correct as appropriate in arriving at a well-supported property valuation. Establish clear, challenging for onsite property management teams to elevate asset performance.
• Data-Driven Decision Making: Monitor property operating and financial performance to ensure established goals and objectives are being achieved. Discuss material variances with Associates and Analysts to determine key drivers and identify potential pathways to mitigating unfavorable performance variances.
• ESG/Sustainability: Prioritize implementation of firmwide ESG and sustainability goals. Explore innovative opportunities to enhance and expand ESG and sustainability initiatives.

Take Risks You Believe In

• Entrepreneurial Creativity: Solve mid-level asset issues with a sound, creative approach to problem solving.
• Smart Risk-Taking: Oversee Associates to ensure that partnership and loan document requirements are satisfied. Encourage Leasing and Property Management teams to deploy smart risk-taking to deliver distinguished returns.
• Data-Informed Decisions: Consider review comments of Associates and along with independent review, approve all monthly, quarterly, and annual property reporting required by Owner and Lender, raising any potential concerns to Managing Director - Asset Management.

Create Lasting Partnerships

• Senior Leadership: Manage the leasing activity of certain assets to include leasing agent selection and management, commercial lease analyses, drafting proposals, negotiating economic/legal terms, and working closely with legal counsel in review of lease documents; review and approve all applicable authorizations and lease documents prior to ownership execution.
• Cross-Functional Collaboration: Conduct due diligence and assist in closing new business pursuits; work effectively with business generation colleagues in the geographic market. If product type specialist, function as expert resource across Americas Asset Management platform
• Executive Influence: Comply with all Hines policies and procedures. Mentor and train Analysts and Associates in the Hines culture and best practices. Motivate property management teams with servant leadership
• Effective Communication: Highly passionate and articulate in communicating across the asset management platform or across disciplines as an esteemed partner to business generation and management services. Excellent interpersonal skills.

Be a Great Leader and Team Builder

• Team: Be a great teammate with a focus on the client-centric asset management function. Mentor / coach analysts and associates to develop deep understanding of Hines, Asset Management best practices,
• Change Management: Demonstrate the ability to manage change at an organizational and strategic level as an effective teammate.

Act with the Highest Principles

• Integrity and Forethought: A leader who demonstrates a high degree of integrity and forethought in decision-making, with the ability to act in a transparent and consistent manner, always considering what is best for the investor, customer, team and organization.
• Fiduciary Mindset: Demonstrate the ability to act in the best interest of the company, the investor, and the asset, ensuring alignment of actions with organizational goals and values.
• Financial Planning and Analysis: Analyze Americas-wide reporting packages that cover historical, current, and projected operating and financial performance. Activate creative measures as the asset level with management services, leasing, and other disciplines to effectively and meaningfully grow Net Operating Income (NOI).
• Investor and Tenant Reporting: Utilize Hines standardized reporting practices to enhance proactive communication with transparency, consistency and accessibility of information.

Qualifications

Minimum Requirements include:

• Bachelor's degree in Business Administration or equivalent from an accredited institution.
• Four or more years of experience in the commercial real estate industry with a preference for multi-family asset management experience (if pursuing product specialization within the Living sector) with responsibility for financial analysis, leasing/marketing activity oversight, and execution of strategic plans. Experience leading and managing a team and mentoring team members.
• Proficiency with Microsoft Office and Argus valuation software essential.
• If Living sector, Proficiency with Entrada, AIRM/RealPage, RedIQ, and REBA strongly preferred.
• Possess the highest degree of integrity. Be a risk taker.
• Effective interpersonal communication (verbal and written) and listening skills.
• Analytical problem-solving skills capable to undertake detailed analyses and make well-reasoned, decisive recommendations. Own one's decisions.
• Perform complex financial analyses, explain economic and accounting considerations, review and manage operating budgets
• Project management (budget, schedule, problem solving)
• Demonstrate prioritization, organization, and time management skills necessary to balance competing deadlines.
• Ability to multi-task in a complex high-volume environment and competency to work with all levels of management and personnel on critical projects.
• Work indoors approximately 90% of the time and outdoors 10% of the time.
• Ability to withstand long working hours, which are frequently necessary.
• Ability to thrive and advance in a high-pressured atmosphere.
• Willingness and ability to walk around project sites under construction to review progress.
• Willingness and ability to travel to and from destinations by plane and/or car.
• Compensation: $195,000 - $225,000

Closing

At Hines, we strive for excellence as a leading global real estate investment manager, driven by our by our belief that real estate is fundamentally about people. Our diverse portfolio spans $93.2 billion¹ of assets across such property types as living, office, retail, mixed-use, logistics and life science projects - all designed to enhance value, connection and inspiration. Our strategic approach integrates local expertise with global knowledge, taking calculated risks aligned with our convictions to exceed expectations and tailor solutions to our clients' needs.

While our projects are renowned for enhancing cities and pioneering sustainable practices, we recognize that the true driving force behind Hines' success is our 5,000 dedicated employees in 30 countries who draw on our 65-year history to build the world forward. This is why we prioritize investing in our people, offering comprehensive training, competitive compensation, robust benefits and generous vacation packages. By centering our focus on the growth and wellbeing of our team, we cultivate an inclusive environment where everyone, including our clients, can thrive.

Hines is proud to be named to Fast Company's prestigious annual list of the World's Most Innovative Companies for 2024. ¹Includes both the global Hines organization and RIA AUM as of December 31, 2023.

We are an equal opportunity employer and support workforce diversity.

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