Director - Asset Management - Retail

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 of Asset Management - Retail with Hines, you will be a critical part of the Asset Management team on all new acquisitions and existing assets across commercial product types within the West Market, with a focus on our retail portfolio. This role involves strategic oversight, financial analysis, and operational execution to enhance asset value and performance. Responsibilities include, but are not limited to:

• Lead the third-party Leasing and in-house Operations/Property Management teams to develop short- and long-term strategies designed to maximize the value and tenant satisfaction of each asset.
• Resolve day-to-day operational issues and escalate strategic matters to ownership partners with proposed solutions.
• Prepare and maintain property cash flow models in Argus and Excel to support budgeting, valuation and investment decision making. Prepare and maintain investment models to calculate investment returns and cash flow waterfalls.
• Participate in the annual budgeting process. Perform market analysis working with the third-party Leasing and in-house Operations/ Property Management functions to develop leasing objectives, operating and financial budgets, project plans, and annual plans. Review materials prepared by operating partners and property managers. Prepare summary schedules.
• Understand the current value and projected future performance of each asset; develop hold/sell recommendations in accordance with ownership’s thesis.
• Monitor property operating and financial performance to ensure established goals and objectives are being achieved. Discuss material variances with Property Management and Accounting functions; determine key drivers creating variances.
• Periodically accompany asset managers on site visits to develop relationships with the property team and to evaluate the condition of the property.
• Supervise execution of capital projects and tenant improvements.
• Ensure that partnership and loan document requirements are satisfied.
• Prepare or review all monthly, quarterly, and annual property reporting required by Owner, Lender and Market.
• Provide assistance to asset managers on dispositions and refinancings, as requested. Gather and organize property information; help prepare materials for pitchbooks and deal rooms; help evaluate purchase offers, etc.
• Conduct ad-hoc analyses to support strategic initiatives and continuous improvement of the Asset Management function.
• Comply with all Hines policies and procedures.

Qualifications

Minimum Requirements include:

• Bachelor’s degree in Real Estate, Business Administration, Finance, Accounting, or Economics from an accredited institution. Master’s degree (MBA or equivalent) is strongly preferred.
• 6+ years of experience in the commercial real estate industry with responsibility for financial analysis, leasing/marketing activity oversight, and execution of strategic plans.
• Prior experience in active asset management of retail assets required.
• Deep understanding of retail leasing, tenant mix optimization, and merchandising strategies.
• Experience managing mixed-use retail properties.
• Familiarity with retail market trends, consumer behavior, and competitive positioning.
• Strong background in financial modeling, lease analysis (e.g., NPV, payback, health ratios), and budgeting.
• Experience with property valuations, forecasting, and performance reporting.
• Understanding of real estate finance and investment principles.
• Advanced, on-the-job proficiency with Microsoft Office and Argus required.

• Excellent leadership and mentorship skills for team development.

• Effective listening skills and interpersonal communication skills. 

• Team player mentality with a positive attitude.

• Capable to undertake detailed analyses and make well-reasoned, decisive recommendations.

• Demonstrate prioritization, organization, and time management skills to meet 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.

• Be a risk taker and possess the upmost integrity.

• Work indoors approximately 90% of the time and outdoors 10% of the time.

• Ability to withstand long working hours, which are frequently necessary.

• Compensation: $173,000 - $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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