Lead Asset Manager, Commercial Real Estate

Employer: DWS Group

Title:Lead Asset Manager – Commercial Real Estate

Location: California

Job Code: #LI-LV2 #LI-03

About DWS:

Today, markets face a whole new set of pressures – but also a whole lot of opportunity too. Opportunity to innovate differently. Opportunity to invest responsibly. And opportunity to make change.

Join us at DWS, and you can be part of an industry-leading firm with a global presence. You can lead ambitious opportunities and shape the future of investing. You can support our clients, local communities, and the environment.

We’re looking for creative thinkers and innovators to join us as the world continues to transform. As whole markets change, one thing remains clear; our people always work together to capture the opportunities of tomorrow. That’s why we are ‘Investors for a new now’.

As investors on behalf of our clients, it is our role to find investment solutions. Ensuring the best possible foundation for our clients’ financial future. And in return, we’ll give you the support and platform to develop new skills, make an impact and work alongside some of the industry’s greatest thought leaders. This is your chance to achieve your goals and lead an extraordinary career.

This is your chance to invest in your future.

Read more about DWS and who we are here.

Team / Division Overview

The Lead Asset Manager, Commercial (Lead AM) is an integral role within the DWS Real Estate Asset Management Group. The primary role of the Lead AM is to add value to our clients’ office and industrial properties by providing best in class asset management services. The Lead AM will be responsible for a Southwestern regional portfolio of approximately 55 assets, comprised of approximately 19 million square feet of office and industrial properties. The Lead AM role includes leading a team of three commercial Asset Managers as well as directly overseeing a portfolio of 15 to 20 commercial assets.

Role Details

As a/an Senior Asset Manager, you will (be):

• Accountable for driving the asset management and operating performance of the Southwest commercial portfolio.
• Bottom line responsibility for the Southwest regional portfolio performance against the associated industry benchmarks.
• Actively involved and participation in the valuation process.
• Developing, overseeing and implementing property management, leasing and capital investment strategies for the Southwest portfolio as well as income/expense budgets for each asset. Present quarterly and annual plans for these activities to Portfolio Managers and the Investment Committee as required.
• Reviewing weekly, monthly and quarterly reports produced by the contract managers for variance from plan and identify/implement opportunities to improve performance.
• Overseeing property management and leasing for the regional portfolio the direct portfolio that the Lead AM is responsible for.
• Monitoring market trends in value, supply/demand fundamentals and operating costs to identify acquisition and disposition opportunities. Continuously review the portfolio for ways to add value through renovation or repositioning of the asset.
• Understanding each property’s competitive positioning relative to rents, occupancy and property attributes and develop a means to maintain a competitive edge.
• Coordinating the transition of newly acquired properties into the company’s systems as well as the sales efforts with the disposition officer, broker and property managers.
• Work closely with the Value Add team on all developments and major repositioning projects as well as manage relationships with joint venture/property manager partners and provide oversight.
• Assist Transactions Team with underwriting potential new acquisitions nationally.
• Author and present Asset Management strategy section of Investment Committee memos for new acquisitions, accountable for asset management sign off on underwritten starting rents including year’s 1-3 growth rates and lease up timelines. Validation of operating expense and capital projections. Present Investment Committee leasing recommendations and capital expenditure recommendations.
• Present asset management view during hold/sell process, recommends disposition of underperformers.
• Work closely with Sustainability Team to find and deploy opportunities for Sustainability Initiatives and Strategies.
• Travel required consisting of regular property and asset manager team visits.

Construction Management

• Monitoring construction progress on major capital projects and properties undergoing renovation.
• Reviewing and approving monthly draws for each project and checking for project budget compliance.
• Approving changes in scope of work and estimated construction contracts along with Portfolio Manager.
• Visiting properties regularly to verify quality of work.

We are looking for:

• Minimum of 10 years of institutional, senior leadership level real estate experience
• Experience with an emphasis on the office and industrial sectors including an understanding of operations across both sectors.
• College degree in Business Administration, Finance, Economics, Real Estate, or similar, MBA preferred.
• High level of business and financial acumen as it relates to marketing, leasing, property operations, accounting and reporting with the ability to understand financial statements, investment pro-formas, as well as IRR and NPV calculations and analysis, with excellent organizational, problem solving, influencing and negotiating skills.
• Highly developed interpersonal, presentation and communication skills.
• Ability to effectively communicate with property management employees, Portfolio Managers, Investment Committee, and clients.
• Successful record of accomplishment in the execution of asset management strategies to achieve successful results while effectively managing risk.
• Real estate acquisitions and transactional experience is a plus.

What we’ll offer you:

At DWS we’re serious about diversity, equity and creating an inclusive culture where colleagues can be themselves sand it’s important to us that you enjoy coming to work – feeling healthy, happy and rewarded. At DWS, you’ll have access to a range of benefits which you can choose from to create a personalized plan unique to your lifestyle. Whether you’re interested in healthcare, company perks, or are thinking about your retirement plan, there’s something for everyone.

The salary range for this position in California is $153,000 to $229,000. Actual salaries may be based on a number of factors including, but not limited to, a candidate’s skill set, experience, education, work location and other qualifications. Posted salary ranges do not include incentive compensation or any other type of renumeration.

Some of our core benefits:

• Competitive Salary and Matched 401K Savings Plan
• Generous Paid Time Away plus Bank Holidays
• Physical and Mental Health Well-Being benefits including (but not limited to) Health & Life Insurance Plans and the support of trained Mental Health First Aiders
• Family friendly benefits including generous parental leave packages (supporting all variations of family set-ups), to healthcare plans and travel insurance
• The opportunity to support our CSR strategy which is focused on combatting climate change & achieving greater social justice. You can make donations to our partnered organizations or take part in corporate volunteering opportunities in your local communities by providing on hand support.

DWS’ Hybrid Working model is designed to find the right balance between in-person collaboration and engagement in the office, which is core to our working culture, and working from home. Each business group varies on the split between time spent in the office and at home, but this will be discussed and made clear as part of your application and interview process. We will continue to review and evolve our working environments and methods to ensure that we are working in the best way possible for our people.

If you require any adjustments or changes to be made to the interview process for any reason including, or related to a disability or long-term health condition, then please contact your recruiter and let them know what assistance you may need. Examples of adjustments include providing a change to the format of the interview, or providing assistance when at the DWS office. This will not affect your application and your recruitment team will discuss options with you.

Privacy Statement

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We strive for a culture in which we are empowered to excel together every day. This includes acting responsibly, thinking commercially, taking initiative and working collaboratively.
Together we share and celebrate the successes of our people. Together we are Deutsche Bank Group.
We welcome applications from all people and promote a positive, fair and inclusive work environment.

We are an Equal Opportunity Employer – Veterans/Disabled and other protected categories. Click these links to view the following notices: “EEOC Know Your Rights”; Employee Rights and Responsibilities under the Family and Medical Leave Act; Employee Polygraph Protection Act and Pay Transparency Nondiscrimination Provision.