Assistant Vice President, Asset Management

Organization Background

Easterly Government Properties, Inc. (“Easterly” or the “Company”) is a publicly traded Real Estate Investment Trust (REIT) focused primarily on the acquisition, development and management of Class A commercial properties that are leased to U.S. Government agencies.

Primary Duties and Responsibility

General

· The Assistant Vice President of Asset Management is responsible for independently managing the overall operational and financial performance of their assigned portfolio of assets

· Works collaboratively with the Head of Asset Management Operations (direct supervisor) to achieve corporate asset management financial objectives and deliver value to shareholders

· Ensures operational compliance with SEC, Sarbanes-Oxley, and REIT regulations

· As required, coordinates and assists other departments, including Accounting, Acquisitions, Development, Corporate Finance, and Legal in support of their operations to achieve corporate objectives

Asset-Level Strategic Planning

· Independently develop strategic asset business plans and achieve operational goals for assigned portfolio of assets by:

• Communicating the asset-level strategy to and managing the local operational team(s) including property accountants, property managers, and building engineers
• Optimizing building system performance
• Controlling operating expenses
• Forecasting revenue streams in accordance with lease terms
• Proactively identifying and pursuing additional sources of revenue
• Analyzing and evaluating all leasing / releasing activities
• Developing capital plans for all building systems and equipment

· Annually, develop 5-year operating budgets supporting optimized building operations

· Create and maintain 5-year capital plans tracking contractual and general maintenance requirements to ensure long-term health and performance of assigned portfolio

· Prepare budget reforecasts, as required, to support corporate finance objectives

· Prepare detailed financial analyses to support recommendations to Senior Management on significant operational issues, capital expenditures, leasing activities, or other strategic initiatives

Asset Operations

· On-board and manage lease novation process for newly acquired / constructed assets

· Responsible for all aspects of lease administration, including, but not limited to:

• Maintain compliance with all lease terms
• Ensure accurate and timely revenue collections
• Cultivate positive, long-term relationships with all tenant points of contact
• Maintain internal electronic lease files and abstracts
• Manage tenant disputes and claims

· Responsible for all aspects of building operations, including, but not limited to:

• Conduct periodic physical inspections of portfolio
• Ensure optimal building system performance
• Contract and oversee on-site personnel, such as property managers (internal and third-party), building engineers and vendors, in the operations of the building
• Collaborate with on-site personnel to troubleshoot issues and determine the best solution to resolve the issue
• Manage expenses in accordance with approved operating budgets
• Execute approved capital reinvestment projects
• Maintain compliance with all property-level loan covenants and restrictions
• Oversee all matters related to real estate taxes and appeals

· Support the Vice President of Leasing in the pursuit of all leasing activities within portfolio

· Serve as project management executive for lease renewal tenant improvement and reimbursable projects:

• Assemble project delivery team, including architects, general contractors, and any other required vendors
• Negotiate pricing and contracts for construction services
• Review, provide guidance, and approve architectural and mechanical plans
• Ensure all projects are completed on-time and on-budget

· Proactively identify potential tenant and/or operational issues to avoid protracted disputes or costly repairs

Financial Reporting

· Weekly, provide portfolio overview of activities to Senior Management to review any new or ongoing issues that require Senior Management attention

· Monthly, report to Senior Management on property level financial performance, with comparative analyses to budget, pro forma, previous operating history, and any other metrics as requested by Senior Management

· Monthly, report to Senior Management on the status of tenant reimbursable projects and approved capital projects

· Monthly, coordinate with Property Accounting on month-end closing activities, to include invoice approvals, expense accruals, variance reporting, etc.

· Periodically, coordinate with the Finance and Operations team to create and review the analyses that support the quarterly earnings model

· Meet reporting requirements for property level loans, to include providing financial statements, rent rolls and other reports as required

Acquisitions and Dispositions

·As requested, participate in due diligence review of potential acquisitions with particular attention to assumptions regarding operations and operating expenses

·Review and recommend property managers and/or leasing agents for new acquisitions

·Coordinate with Acquisitions team to onboard acquired properties, including development of initial operating and capital budgets and completion of lease novation

· Assist Senior Management by identifying properties for disposition and preparing due diligence packages for properties slated for disposition

Required Skills / Qualifications

· Undergraduate degree, additional education preferred

· 10 to 15 years of relevant commercial real estate asset management experience

· Strong understanding of advanced commercial real estate concepts and valuation techniques

· Strong project management skills

· Excellent verbal and written communication skills

· Excellent planning, organization, and interpersonal skills

· Ability to function independently within a collaborative, team-oriented setting

· Attention to detail and ability to function under tight deadlines

· Ability to work accurately and efficiently

· Ability to handle multiple projects at one time

· Strong sense of personal motivation and responsibility

· Ability to clear GSA NACI & FBI LBI background checks

Desired Skills / Qualifications

· Experience preparing commercial real estate operating and capital investment budgets

· Experience managing teams of peers and subordinates

· Intermediate experience using Microsoft Excel

· Experience using Yardi

An Equal Opportunity Employer

Base Salary Range: $160,000 – 180,000