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

• 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

• 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

• 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

• 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

• 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

• 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

• 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