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Asset Manager

Rocket Central

Posted Thursday, May 11, 2023

Posting ID: R-074188_crt:1683849707792

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Detroit, MI
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About BedrockBedrock is a full-service real estate firm specializing in innovative city-building strategies, reaching far beyond the boundaries of bricks and mortar. Since its founding in 2011, Bedrock and its affiliates have invested and committed more than $5.6 billion to acquiring and developing more than 100 properties in Detroit and Cleveland, including landmark developments at the Hudson's Site , the Book Tower restoration, City Modern and the May Company Building. Bedrock's portfolio totals more than 22 million square feet of office, retail and residential space within new construction and adaptive reuse projects.For more information on Bedrock's projects, visit or engage with us on Facebook , Instagram , Twitter and LinkedIn .Position SummaryThe Asset Manager will be assigned a portfolio of approximately 15 to 25 operating assets that are part of the Bedrock portfolio in Detroit and Cleveland, including office, retail, parking, multifamily, HOSPITALITY, and industrial uses. For those properties the asset manager will have responsibilities including, but not limited to, the following:Essential Functions
  • Leads and monitors the asset strategy with cross-functional teams to achieve underwriting
  • Coordinates and reviews annual property budget and asset strategies with various Bedrock Teams for Leadership approval
  • Conducts regular property visits to ensure the asset strategy's objectives are being obtained and identifies any new areas for opportunity
  • Reviews monthly and quarterly property financial and variance reporting, and conducts periodic calls with property teams
  • Manages communication amongst property-specific Bedrock Teams to assess and improve investment performance, and leverage pertinent information for investor reporting purposes
  • Provides analytical support across functional teams for strategic business decisions including investment opportunities, operational savings, capital expenditures, and capital structure execution
  • Works closely with Property Management Team to monitor tenant delinquencies and propose resolutions to Bedrock Leadership when necessary
  • Works closely with Leasing Team to provide analytical support, including market leasing assumptions and analysis, operating expense estimates, and tenant financial evaluations that are aligned with the asset strategy
  • Works closely with Development and Acquisitions Teams to provide support in underwriting, asset strategy creation, and due diligence to ensure a smooth transition into the operating portfolio
  • Partners with Finance Team to successfully execute financing and refinancing of stabilized assets
  • Maintains a current understanding of real estate and urban trends throughout the industry and country
  • Completes responsibilities with little oversight or required direction
  • Works to maintain and improve portfolio performance
  • Regular and routine onsite attendance
  • All other duties as assigned

Position Requirements
  • Bachelor's degree in finance, business, economics, accounting, real estate, or a related field (required)
  • Advanced degree, CFA, CAIA, or similar designations a plus
  • At least 5 years of experience in real estate finance, asset management, investing, consulting, or another related financial service field
  • Experience with two or more property types strongly preferred: office, retail, parking, multifamily, hospitality, and industrial
  • Experienced in investment analysis and financial modeling in Excel and Argus
  • Experienced with real estate market research and relevant data providers (e.g., CoStar, Yardi) a plus
  • Proven track record of high performance in prior work
  • Possess creativity, independence, initiative, and high levels of integrity

Position Qualifications
  • Strong verbal and written communication skills
  • Familiarity with the general principles of real estate, including operations and analysis, budgeting, financial reporting, cash management, and general accounting
  • Strong self-starter that thrives in a fast-paced, dynamic environment with multiple and evolving priorities and deadlines
  • Strong financial analysis skills with an emphasis on accuracy and thoroughness
  • Ability to prioritize responsibilities, manage time effectively and handle a high volume of work

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