Retail Asset Management, Senior Associate

Location: Baltimore, MD, Washington, DC, Charleston, SC, or New York, NY

Company Overview:

Our client is a 60+ year-old company with a best-in-class reputation as investors and operators. The firm is currently $3.3 billion in AUM. The current multi-family portfolio is roughly 10,000+ units and includes Class A new product, value-add, and workforce housing.

The portfolio is located throughout the Mid-Atlantic and Southeast, with clusters in Baltimore and the Carolinas.

The firm is a vertically integrated investor/operator and not a services company providing third-party management services for properties not within the firm. With a 60+ year history as owner-operators, the firm’s Asset Management function is hands-on. Our client is focused on delivering exceptional investment results through nuanced and thoughtful business strategies, unique to each asset. The organization relies on the Asset Management Team to be the experts on individual assets and on the sub-markets in which they are located.

Asset Managers are onsite regularly and in close contact with the Regional Managers and other Operations Team members weekly. Asset Management reports into the Senior Executive Team regularly.

Position Overview:

The Retail Asset Management, Senior Associate will serve as the primary investment steward for a portfolio of 12–15 retail properties, owning the full lifecycle of asset performance from business plan execution through disposition. This role is responsible for monitoring and driving performance against underwriting, managing property-level Cap Ex forecasts and cash flow, and leading hold/sell/recapitalization analyses to optimize portfolio value. The Asset Manager will partner closely with Leasing, Property Management, and Capital Markets teams to ensure strategic alignment across operating functions, while also serving as a key external point of contact for investors, lenders, and brokers.

Strong communication skills are essential, as this role requires presenting investment recommendations to the Investment and Valuation Committees, authoring IC memos and performance reports, and leading the negotiation of purchase and sale agreements. The ideal candidate brings 5–8+ years of retail real estate investment or asset management experience, a deep understanding of leasing dynamics and financial underwriting, and advanced proficiency in Excel and ARGUS.

Key Responsibilities

Performance Management & Business Plan Execution

• Own and uphold property‑level business plans for a portfolio of 12-15 properties, ensuring consistent execution across all operating teams.
• Monitor asset performance relative to underwriting through leasing activity review, quarterly valuations, and annual budget analysis.
• Provide clear, investment‑focused context around variances to underwriting and recommend corrective actions or strategic adjustments.
• Partner closely with Leasing and Property Management on major strategic decisions affecting asset performance.

Communication

• Demonstrated strength in written communication, including Investment Committee memos, asset‑level performance reporting, and investment recommendations.
• Effective verbal communicator with the ability to present to Investment Committee and Valuation Committee.
• Ability to work cross‑functionally with Operations to ensure clear alignment and execution of property business plans.
• Serve as an external point of contact for investors, lenders, and other stakeholders.
• Manage third‑party investment sales brokers and lead negotiation of purchase and sale agreements (PSAs).

Capital Expenditure (Cap Ex) Planning & Forecasting

• Maintain and manage property‑level Cap Ex forecasts, ensuring discretionary spending and leasing capital are properly sequenced and fully funded.
• Oversee execution of budgeted capital projects in alignment with underwriting assumptions.
• Evaluate ROI and strategic merit of proposed discretionary Cap Ex based on leasing conditions, asset stability, and point‑forward hold period.

Cash Flow Management & Distributions

• Oversee asset‑level cash management, including distributions, based on operating cash flow, cash on hand, lender reserve requirements, and future funding…