We are seeking a Asset Manager who will be responsible for providing leadership and asset management oversight to third-party property management firms contracted by the University, on multiple campuses, and properties for the assigned portfolio (subset of overall properties). The real estate portfolio includes 19 buildings with more than 2 million square feet and an aggregate annual operating budget in excess of $60 million plus related capital projects. The University also leases over two million square feet of space in third party buildings, owns a hotel/conference center under third party management, has several ground leases to third parties, and owns a market-rate residential portfolio of 300 units across five properties. The third-party property management firms and their teams of on-site professionals manage and direct the daily operations of the assigned portfolio under the direction of the Asset Manager. The Asset Manager is the institutional representative of the building customers (tenants) and stakeholders located on the campuses, including operational, financial, strategic planning, special projects and logistical/crisis response; and provides oversight to contracted firms, managers, engineers, administrative support, security and custodial services. The Asset Manager interacts regularly with the real estate leasing team, the accounting and budgeting teams, and the Planning, Design & Construction group.
The Asset Manager also oversees active lease administration of third-party leases, including the duties noted above, but without direct reporting of property managers or contracted firms. Responsibilities also include financial analysis related to leasing and capital decisions, leasing strategy and evaluation, procurement oversight, asset and capital improvement budgeting, long term strategic asset management plans, management coordination, and stakeholder communications.
The Asset Manager assumes a leadership role and interfaces with both the University and Medicine for Johns Hopkins.
Specific Duties & Responsibilities
Essential Job Functions
Work effectively and collaboratively with a number of stakeholders including Johns Hopkins University and Health System leadership, the real estate team, the accounting and budgeting teams, schools, division and department leadership, tenant representatives, the campus security team, third party vendors, and local community groups.
Lead the management of the properties to ensure achievement of specified operational objectives, including leasing, capital improvements, system enhancements, customer satisfaction, operating expense control, strategic planning, identification and resolution of property and risk management issues, contract negotiation and administration, management of third-party vendors, sustainability efforts, emergency management, and other applicable areas.
Work collaboratively with stakeholders on project management outlining goals/objectives, deliverables, required resources, project budget and timing as applicable. Collaborate with internal building tenants, stakeholders, and third property management firms, and Campus Security to prepare annual operating budgets, financial reporting, capital improvement plans and major contracts.
Review, approve and present to Chief Real Estate Officer/Director of Asset Management and Divisional Business Officers (DBOs) all operating budgets, financial reporting, and capital improvement plans.
Establish review processes and analyses to monitor property financial performance, variances against budgets, expense and income drivers and recommend actions accordingly.
Work collaboratively with the on-site teams to explore and implement opportunities to enhance the property management monthly financial reporting, variance analysis and ensure timely and effective communication of performance results including meetings with key stakeholders.
Manage budgets and capital planning for assets to ensure short and long-term planning is in place to maintain the value and infrastructure of the buildings and enhance operations.
Complete regular property visits and inspections, assessing and monitoring adequacy of staffing levels for various operating areas, evaluation of project status/completion and implementation of building standards and operations.
Participate in the hiring, managing and leading of the staff servicing the properties. Work with the onsite team as well as the applicable third-party personnel.
Serve as an effective convener and communicator to executive management (University Leadership and Division Directors, DBOs, JHHS VPs/Directors) of all critical asset management issues relative to the assigned portfolio.
Participate and/or lead special project efforts for the campuses and participate in applicable enterprise committees representing Real Estate, such as Crisis Management, ADA Compliance, Strategic Planning, Sustainability, and Grounds.
Define and manage strategic initiatives/special projects in support of the buildings, enterprise or business unit goals and objectives such as stakeholder meetings, surveys, and food service options.
Ensure industry standard documentation and property information is organized and maintained for each property and asset. Conduct regular documentation audits and report any issues to the Director of Asset Management and Chief Real Estate Officer.
Ensure and manage asset risk including insurance coverage and safety compliance.
Develop and maintain critical internal/external relationships within the broader Hopkins enterprise (University and Medicine) to accomplish objectives.
Maintain effective communication with building customers and key stakeholders to quickly and effectively resolve problems, communicate work schedules/impact and levels of satisfaction with completed work. Offer superior customer service and relationship management by being proactive and responsive to tenants needs. Conduct regular meetings with occupants to hear and understand needs and concerns.
Develop and maintain industry best practice type standard operating policies, procedures, systems, reports and internal controls for property, facilities and asset management.
Participate in the local environment, ensuring the building and campus is considered a community asset in the community, working closely internally with Hopkins Community and Government Affairs, and externally with the adjacent neighborhoods/communities where the asset is located.
Special Knowledge, Skills & Abilities
Strong interpersonal, communication, public relations and negotiation skills necessary to establish and maintain rapport with a variety of customers, building stakeholders, enterprise leadership, contractors and community contacts.
Strong financial, analytical and mathematical skills in order to analyze budgets, evaluate bids and proposals and oversee asset pro forma development.
Operational experience with a variety of building systems.
Highly motivated and proficient at managing multiple tasks with effective oral and written communication.
Experienced in prioritizing day to day operational issues coupled with a leadership role in departmental initiatives is essential.
Technologically proficient with Microsoft office applications and industry/property accounting software, preferably Yardi.
Ability to work weekends and evenings as necessary.
Bachelor's Degree in Business Administration, Accounting, Finance, Real Estate, or related field required.
Ten years of experience in commercial real estate/property management.
Proven supervisory experience required to manage teams of people including other managers, technicians, vendors and contractors.
Applicable industry certification preferred.
Classified Title: Asset Manager Role/Level/Range: ATP/04/PF Min/Mid/Max Annual Salary Range: $83,100-$114,230-$145,360 (Commensurate with experience) Employee Group: Full Time Schedule: Monday-Friday, 37.5 weekly hours Exempt Status: Exempt Location: Hybrid/JH at Keswick Department name: Real Estate Personnel area: University Administration
Total Rewards The referenced salary range is based on Johns Hopkins University's good faith belief at the time of posting. Actual compensation may vary based on factors such as geographic location, work experience, market conditions, education/training and skill level. Johns Hopkins offers a total rewards package that supports our employees' health, life, career and retirement. More information can be found here: https://hr.jhu.edu/benefits-worklife/
Please refer to the job description above to see which forms of equivalency are permitted for this position. If permitted, equivalencies will follow these guidelines: JHU Equivalency Formula: 30 undergraduate degree credits (semester hours) or 18 graduate degree credits may substitute for one year of experience. Additional related experience may substitute for required education on the same basis. For jobs where equivalency is permitted, up to two years of non-related college course work may be applied towards the total minimum education/experience required for the respective job.
**Applicants who do not meet the posted requirements but are completing their final academic semester/quarter will be considered eligible for employment and may be asked to provide additional information confirming their academic completion date.
The successful candidate(s) for this position will be subject to a pre-employment background check. Johns Hopkins is committed to hiring individuals with a justice-involved background, consistent with applicable policies and current practice. A prior criminal history does not automatically preclude candidates from employment at Johns Hopkins University. In accordance with applicable law, the university will review, on an individual basis, the date of a candidate's conviction, the nature of the conviction and how the conviction relates to an essential job-related qualification or function.
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