Real Estate Asset Management role
If someone can confirm if this is a front office role, as I'm a little confused on the job description.
The role is for a Real Estate Analyst
-Manage key lease dates and financial terms including but not limited to rent commencements, lease expirations, renewals, rent increases, and revenue shares
-Manage excel spreadsheets and large datasets, filtering and identifying relevant information
-Review workload reports and/or trackers to identify assignments and prioritize
-Review exception reports and program outputs to ensure lease data fields are accurate
-Retrieving and rearranging data from multiple sources, producing accurate periodical reporting
-Take part in periodical meetings, presenting information to colleagues or management
-Perform specific research and/or investigations into operational issues
That is data entry for leases. This is not a great position to be in if you have aspirations to be in the front office roles.
If they are the GP on most deals then asset mgmt will be more deal making/ front office. LP will be more clerical
I would say the opposite…
Can you explain what you mean by this?
Def not front office.
Asset Management can (and in my opinion should be) a front office role. But this job description sounds a little less like asset management and a little more like data entry.
On a somewhat unrelated note, asset management, real asset management, is probably more important than an acquisitions role. Far more value add, you learn far more about the business, just in every way a more important role.
Tell me you work AM without telling me you work AM
I don't. But I'm not some gross clout-chaser who doesn't actually have a job yet, so I'm willing to admit to things that your average college student (you, apparently?) would think is beneath them.
Making sure an asset stays on-budget and that revenues get collected and booked appropriately is the single most important activity in the life cycle of a real estate deal. Everything else flows from that. That is the job of asset management. As someone who personally owns MF assets, I have and do put my money where my mouth is on that.
But sure, keep shitting on asset management, and have fun being a junior level employee your whole career.
You're a clown.
Everyone in Real Estate knows that Asset Management is where real value gets created. Anyone can pick up the phone and get pricing guidance on assets and punch numbers into an excel model / do a BoE analysis to figure out pricing.
Think you're above AM and just a good capital raiser? Good luck keeping LP capital happy when you're not hitting return targets.
This is coming from someone who works in acquisitions - asset management is more critical than you think....
AM is backoffice
But if its debt AM then its front office and you can get any exit you want.
lol what
True equity asset management at a GP is a front office role. Leading team of property mgmt, leasing, accounting, contractors, and other 3rd parties to execute business plans. Leading disposition, refinancing, and/or recapitalizations. Point person with capital partners if any, guiding asset strategy/evolution, directing leasing efforts, capital projects and redevelopment projects- all the meat of “value-add”. This is used often, but you’re the quarterback driving the ship once a deal is brought on board.
Now, if these are all core deals and you’re at an LP, it might be more of an accounting role. It depends, but by and large, what is described above is a critical, front office role. A bad asset manager can single handly tank a deal, so it’s a very important skill all around.
I do some of this work now, and AI like chatgpt and copilot will assist or take some of this work away in the future. no reason what artificial intelligence cant do this work. thoughts?
I have an interview next week as an Asset Manger. I’m unsure what the interview will consist of, but I’m trying to sharpen my excel/modeling knowledge prior to the interview.
To those who have worked as an AM at an owner operator, what type of modeling do you use frequently in excel? What are some calculations or models I should be familiar with? Anything related to rent roll analysis, budgeting, or property operations related.
Thanks
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