Regional Portfolio Manager (Real Estate) in Greensboro, NC at The Fresh Market

Date Posted: 10/14/2019

Job Snapshot

Job Description

Payment Management:

  • Oversees and manages charges hitting occupancy-related GL accounts including rent, prepaid rent and security deposits, percentage rent, escrows and reconciliations.
  • Manages and approves the generation of monthly recurring rent roll for assigned assets.  Manages the accuracy and timeliness of payments.
  • Manages review and approval for all escrow reconciliations and payments for CAM and Insurance and the process for all operating expense, parking, utilities, and other lease-related additional rent escalation and pass-through expense invoices.  Ensure that expenditures comply with The Fresh Market policies and approve expenditures, per established authority level.
  • Manages detailed expense analysis and pass thru billings and collection for subleased properties.  Ensure subtenants are current with rent payments, collect and bill back as necessary.  Manages aged receivable process for subleased properties.

Critical Date – Lease Renewal Management:

  • Manages regional real estate asset management efforts across multiple Divisions, including network evaluation, lease restructuring, expense reduction, and new third-party property management opportunities.
  • Manages and tracks all lease critical dates and coordinates and monitors action related to critical dates with others as required. Develop strategies to formulate decision trees on critical dates, and evaluate the pros-and-cons of items such as early termination notices.
  • Manage any/all incoming default notices from LL and distribute to the appropriate internal contacts responsible for resolution.  Follow up through completion.
  • Manage team of 3rd party consultants/brokers within defined territories; ensure the highest degree of market intelligence, execution, integrity and accountability with consultants/brokers and include them in strategic planning meetings with leadership.
  • Prepare and maintain information for market surveys, occupancy reports, lease expiration reports, space availability reports and various other reports as requested or necessary for the portfolio.
  • Negotiates lease terms for assigned existing stores within parameters defined by Real Estate Director.  This could be as simple as renewing a store per the terms of the existing lease OR as complex as renegotiating numerous deal terms, including but not limited to: length of term, economics, signage requirements, storage requirements, securing additional options, etc. 
  • Understands how to review, analyze, and interpret financial analysis templates including book and cash flow projections, NPV (net present value), and/or IRR (internal rate of return) financial analyses to enable clients to make more informed decisions.
  • Leverages the contributions of both internal and external partners to solve complex problems and create executable real estate strategies.
  • Obtain and/or prepare financial information related to specific transactions analyze impact as it relates to the specific location and company P&L and make prudent business decision recommendations.

Document and Data Management:

  • Oversee routine property management services such as inspections; process requests for Subordination, Non-Disturbance Attornment agreements (SNDAs) and Estoppels.
  • Manage lease abstraction and lease review.
  • Coordinates with other department leaders to ensure that the data collected is consistent with their needs and reportable.
  • Analyzes and Interprets Lease Agreements and their ancillary documents to ensure proper application/compliance regarding billings and payments and disputes expenses when necessary and tracks savings when appropriate.
  • Reviews, recommends and presents to Leadership all real estate and portfolio documents and issues for signoff and approval.
  • Interpret lease obligations related tor rents, maintenance / repair or other affirmative obligations between landlord and tenant.

Leadership and Relationship Management:

  • Manages interactions with landlords to foster positive relationships and to discuss and resolve potential issues.
  • Puts the Customer First - Anticipates customer needs, champions for the customer, acts with customers in mind, exceeds customers’ expectations, gains customers’ trust and respect.
  • Communicates effectively and candidly - Communicates clearly and directly, approachable, relates well to others, engages people and helps them understand change, provides and seeks feedback, articulates clearly, actively listens.
  • Achieves results through teamwork – Is open to diverse ideas, works inclusively and collaboratively, holds self and others accountable, involves others to accomplish individual and team goals.
  • Leads through positive influence – Demonstrates strong character; builds partnerships; models a conscious balance between work and personal life; takes personal responsibility for own development; role models leadership qualities such as motivation, inspiration, passion, and trust.
  • Leads change and innovation - Challenges the status quo, embraces technology, puts forward creative ideas, champions and implements process improvements, gathers the ideas of others, demonstrates good judgment about which ideas will work.
  • Executes with excellence - Is action-oriented, drives for results, sets clear expectations and milestones, reviews progress, acts decisively, solves problems, can be counted on to consistently meet or exceed goals.
  • Plans and organizes well, sets a clear and simple course of action, stays focused on the most important priorities, has the ability to visualize and plan for the future, keeps up to date and understands the industry and marketplace.

Minimum Requirements

  • Strong oral and written communication skills; including the ability to effectively present information and respond to questions from all levels of management, attorneys, engineers, appraisers, code enforcement officers, landlords, clients, customers and the general public.
  • Understanding of financial concepts such as net present value, cap rates, commercial real estate financial analysis, financial statements, proformas, lease accounting, and accounting standards
  • Knowledge of retail commercial real estate and functional concepts, practices and procedures
  • Understanding of budgetary concepts and procedures – managing to P&L
  • Demonstrated analytical ability and problem solving skills
  • Strong attention to detail, planning, and organizational skills
  • Excellent verbal and written communication skills
  • Strong computer skills, systems aptitude, and experience
  • Ability to work independently and with a high level of energy and initiative
  • Ability to interface with all levels of management
  • Advanced PC and Microsoft Office skills
  • Ability to review property and all related documents with a critical eye and identify risk or opportunities.
  • Ability to cope with shifting priorities, difficult situations and deadlines.