Asset Management Associate

Who We Are:

We are a growing best in class team of real estate entrepreneurs who are committed to making retail places better for all of our stakeholders. We do this by practicing #SUCCESS—working together to create a personally rewarding, productive, respectful, profitable and enjoyable place to work. Founded in 1991, DLC has been one of the nation’s preeminent owners, operators and managers of shopping centers. Our portfolio includes millions of square feet of attractive retail space and continues to expand as we complete additional acquisitions.

Working at DLC:

DLC Management Corp. is a certified Great Place to Work. This designation was granted based on employee feedback and places us in an elite tier above the average workplace. At DLC, Human Capital is our main focus and our employees are the single most important asset to the Company since we know it’s the people who make the difference. For an inside look into our company culture, check out: https://youtu.be/Oi7bziPlkB0.

About the role:

The Asset Management Associate is an integral part of the team and will be involved in all facets of the asset, investment and joint venture of each asset within DLC’s growing retail CRE portfolio. The position will work closely with our internal team (acquisitions, construction management, property management, leasing, legal, and accounting) as well as our institutional partners to ensure we are performing well against our business plans. Responsibilities include but are not limited to the following:

• Develop a strong understanding of the assets and business plans for the joint venture portfolio. Become knowledgeable of leases, loan documents, partnership agreements, and other agreements to assist with general responsibilities which will vary across asset/portfolio, loan or joint venture.  Effective communicator across all levels of the organization, both internally and externally.
• Track our investments and performance in real-time so we can make educated operating and capital markets decisions
• Participate in monthly JV Partner calls and ad hoc calls/updates with Lenders to address questions and or work through issues.  Help produce / review and update monthly management asset updates.
• Develop & maintain sophisticated dashboards, financial models, templates and analyses to monitor asset relative to each business plan.
• Assist in performing wide range of analyses including: refinancing analyses, valuations, sell/hold analyses, leasing NPV/NER, and other ad hoc analyses to assist the AM department or other key constituents (Senior Management, Other Departments, Partner, Lender) requiring business plan/performance.
• Respond to Lender, JV Partner or Senior Management requests relating to asset performance or statuses.  Review Lender covenant calculations for accuracy and input.  Work with AM team and through other departments to ensure most accurate information represented.
• Review monthly financial reports, perform variance analysis, identify & report trends, red flags, etc.
• Organize, oversee and review the annual property operating budgets and business plans for joint venture portfolio.  Integral team member in rolling up asset and portfolio budget metrics & helping steer the metrics and business plan. Work with and through various vertical departments through budget approval internally and lead JV partner approval process for assigned assets.
• Prepare and update quarterly cash flow forecasts with new/updated property and portfolio level information.  Propose quarterly distributions for Senior Management and Joint Venture approval.  Evaluate and process any necessary capital calls.
• As needed, maintain/ update Argus models to monitor asset performance throughout the asset redevelopment cycle in support of critical capital market events or budget update.