Supply & Demand
I reflect on my visit to the 2008 Urban Land Institute Fall Meeting in Miami, when a deep financial gloom was setting-in and 22,200 condos were shiny-new, but very vacant. I recall driving across the Julia Tuttle Causeway with a view of the vacant panorama, and was convinced that there was no way that the overhang of thousands of units in an illiquid environment would ever recover.
Today, almost all of those 22,200 units are filled, and current demand is outstripping new supply. According to a recent Wall Street Journal article, 12,000 new units in 41 towers are proposed in Miami and buyers from South America, Eastern Europe/Russia, and other faraway places are gobbling-up all new supply.
God Bless America . . .
UBS GLOBAL REAL ESTATE
(SOUTHLAKE, TX) The Asset Manager will develop, communicate and supervise the operating strategy for assigned portfolio of properties with goal of maximizing total investment returns; demonstrate full command of all aspects of the asset ranging from physical, legal, and operational to market issues; develop annual business plan, operating budget, and hold/sell strategy for each assigned asset; direct lease negotiations; supervise and direct the performance of property management firms, leasing companies, and 3rd party vendors such as legal and engineering support; and ensure accuracy of invoices relating to capital, legal, leasing commissions and other 3rd party contracts.
Real Estate Analyst
(NEW YORK, NY) This position assists in the marketing and placement of commercial real estate investment sales and loans. Primary duties includepreparing commercial mortgage loan/sales packages and submissions for presentation to lenders and buyers; interacting with clients, prospective buyers and investors; facilitating the Marketing process for loan request and/or investment sales; organizing and presenting data analysis; preparing financial models in Argus; and working with Production Coordinator on loan requests.
Sr. Managing Director, Regional Facilities Management, West Region
(LOS ANGELES, CA) The Sr. Managing Director will provide leadership for all aspects of the FM service line of business within the region, with emphasis on achieving FM business growth, financial performance, and client satisfaction. Additional duties include developing the regional FM service line business plan and budget; building a team of strong FM service line leaders who can execute the FM strategy and operations within the region and on accounts; support the profitable growth of the FM service line through participation and leadership in new business pursuits, contract renewals and service expansions, transition management, conflict resolution with accounts, and efficient and cost effective FM service delivery and operating models; and collaborate with other service lines and departments when an integrated service delivery model is proposed or in operation.
WASHINGTON REAL ESTATE INVESTMENT TRUST
(ROCKVILLE, MD) The Project Manager is responsible for managing various energy conservation and LEED projects throughout the portfolio as assigned. Specific duties include assisting Director in managing all aspects of engineering, environmental and energy functions; managing and coordinating all LEED EB, CI and CS projects as assigned; updating Energy Star Portfolio Manager database; managing energy conservation measures including lighting and control retro-fit, equipment upgrades and water conservation projects; working with third party vendors to resolve utility invoice irregularities; assisting Director in the energy procurement process; assisting Director in analyzing building energy data and developing energy conservation measures; assisting in maintaining and updating division web portal; maintaining job cost files and logs for various energy and LEED projects; and developing an in-depth working knowledge of WRIT properties.
(WASHINGTON, DC) ULI is seeking a Director, Resiliency to join its Content team and help lead ULI’s activities in the areas of climate change, energy, sustainability, and resiliency. Reporting to the Senior Vice President and Executive Director of the ULI Center for Sustainability (the “Center”), the Director will be responsible for the resiliency component of the Center as well as the Center’s Resilience advisory service program, program of work, resiliency research, conferences, and outreach to District Councils.
(MIAMI, FL) Pensam’s platform encompasses all aspects of real estate property ownership, including acquisition, financing, construction, repositioning and property management. Position will be responsible for generating a full and accurate set of accounting books/internal controls of the Company, including, but not limited to, taxation, dividends, investor report and accounts that are managed according to legislation, policies and procedures and generally accepted accounting principles; implementing continuous financial audit and control systems to monitor the performance of the Company, its flow of funds (cash control), the adherence to the budget, the expenditures, the income, the cost of sales, and other budgetary items; maintaining the financial records of the Company and its subsidiaries; and creating and maintaining standard Chart of Accounts for the Company and its subsidiaries.
Property Manager – Residential
(LOS ANGELES, CA) The Residential Property Manager (located at The View in Koreatown) will be responsible for the overall day-to-day management and lease up of the property. Responsibilities include directing on-site staff, contracted services and vendors to maintain a first class appearance of the property. This position will set monthly goals to integrate leasing, property management, building maintenance and lease administration functions across the properties; and adhere to the properties approved budgets with an emphasis on timely rent collection, meeting monthly leasing goals, receivable management, legal evictions and vendor supervision.
Affordable Housing REIT-Asset Manager
(NEW YORK, NY) This position will report to the VP of Asset Management and will be responsible for assisting with management and valuation of the REIT’s growing debt and equity investment portfolios. Duties include monthly review and analysis of property operating statements for equity investments, including analysis of balance sheet and income statement, comparison to budget and business plan, update of annual projections, preparation of variance explanation; quarterly review of debt investment performance, evaluation of risk associated with loans, communication with borrowers regarding changes in performance; quarterly preparation of valuations of debt and equity investments; and quarterly preparation of material for meeting of Board of Directors, including evaluation of Watch List.