Regional Real Estate Asset Manager

Job Description

Job Description

About Ackermann Group:

Since 1938, the Ackermann Group has a long history in real estate development and property management that has continued to grow and thrive in the Midwest region. Our guiding principles of collaboration, commitment to a personal approach, and delivering above expectations are paramount to who we are as an organization. We believe in and are dedicated to our employees and invest in passionate individuals who want to be a part of a vibrant and community-focused culture.

What we're looking for:

We are seeking a Regional Real Estate Asset Manager to join our team at our corporate headquarters in Cincinnati, Ohio. The Regional Real Estate Asset Manager will act as a fiduciary for ownership and investor interests. They are responsible for developing an intimate knowledge of the economic conditions and trends of the relevant market(s), researching competitor properties, recommending and implementing the appropriate asset position and pricing strategy, maximizing structural economics, proposing annual budget targets, conducting regular financial analysis / valuation of the portfolio, and inspecting Ackermann properties. Additional responsibilities include:

1. Regional Portfolio Financial Leadership to maximize financial performance of the regional portfolio of assets.
   • Evaluate properties' rental and cash flow performance against financial objectives and determine remedies to variances.
   • Lead annual budget setting and quarterly forecast update process, including (a) recommending NRI/NOI targets, (b) facilitating decisions required to close gaps to target (e.g., market rent, loss/gain to lease, concessions, operating expenses), (c) providing informed recommendations and direction on annual capital spending, and (d) aligning operating budgets with senior management.
   • Analyze property condition, unit fit and fixtures, promotional strategies, price positioning, capital needs, and all other drivers affecting tenant demand.
   • Conduct routine site inspections for Ackermann and competitive properties in the portfolio. Critique overall asset condition, show readiness, fit/finish of units, and staff efficacy relative to market position. Communicate findings and indicated actions to Property Management and monitor/report on completion.
   • Ensure Regional Triumvirate Leadership Team (incl. Operations and Accounting) understand "what needs to be true" to deliver required cash performance, buy-in on the 1-year and 90-day "Rocks" and execute the "To-Dos" to overcome Issues.
2. Property Rent Setting.
   • Recommend overall pricing strategy for each site, relative for class, location, and key competition.
   • Ownership for tactical rent and concession decisions (according to Company's Decision Authority) leveraging secondary data sources including AIRM, Hello Data, Costar, and primary research on competitive properties.
   • Daily review and approval of property rents in AIRM.
3. Acquisitions & Divestitures
   • Develop deep personal understanding of individual submarkets, comparable properties, and pricing conditions to form relative strategic position of each asset.
   • Develop and maintain relationships with real estate brokers to identify potential acquisition targets.
   • Deal underwriting based on data-driven operating assumptions, assessment of value-add investments, rent growth opportunities, and return scenarios. Define exit horizon and annual analysis of buy vs hold choices for each asset.

The ideal Regional Real Estate Asset Manager will have:

• Minimum of a bachelor's degree in finance, real estate, economics, pricing, or a related field.  Master's degree preferred.
• 5+ years of experience in commercial real estate. 
• Demonstrative experience in financial analysis & planning, valuation, acquisitions and divestitures, and capital markets. 
• Proficiency in reading accounting and financial reports, rent roll, and presentation/engagement with multifunctional business partners.  
• Advanced proficiency in Microsoft Excel.  

We are proud to offer many Benefits & Perks at Ackermann Group including:

• Competitive compensation
• Health benefits including medical, dental, and vision insurance
• 401k retirement program with company match
• Paid time off including sick, vacation, holidays, and your birthday! 
• Employee rent discount to live at any Ackermann community 
• Career coaching and development
• Company engagement events