Team Overview
LaSalle’s Assets under Management cover the full spectrum of Core to Value-Add investments. The Continental European Asset Management team (excluding France) is currently composed of 10 Asset Managers, based in 3 locations: Munich (5), Amsterdam (3) and Madrid (2). As of July 2024, Assets under Management are approximately € 3.7 billion, located in 9 different countries. The team forms part of LaSalle’s Continental European business working notably on several cross-border initiatives.
Role and Accountabilities: The Asset Manager will drive the investment performance of a property portfolio (logistic, office, retail (high street)) thus assisting the Fund Management teams achieve their strategic plans for the portfolio. The Asset Manager will work alongside with Fund Management and Investment Management, and as a team, will be responsible for managing value-add and value protection for their portfolio and for delivering optimal asset performance. The successful candidate will also have a full understanding of their client mandates. Working with the Portfolio Manager and other internal resources, the Asset Manager will have the following core accountabilities:
Strategic Planning
1. Develop and recommend hold/sell strategy for each asset, and update annually together with Portfolio Management
2. Develop annual property business budget.
Acquisitions and Disposals
3. Use contacts to source potential investment acquisitions
4. Support acquisitions by giving feedback on local markets and underpinning rent- and CAPEX-assumptions.
5. Assist with due diligence on acquisitions
6. Assist Portfolio/Acquisition Manager in presentation of acquisitions and purchases to Investment Committee
7. Ensure insurance cover is placed on exchange or completion of purchase
8. Check and approve final due diligence acquisition report
9. Initiate property sales via selected agent consistent with conclusions of hold/sell business plan assessment (supported by acquisition manager).
10. Manage sale process with agent, lawyer, and property manager (supported by acquisition manager).
Capital and Revenue Improvement Planning
11. Determine what capital projects and leasing strategies are needed to:
Sustain or protect value
Reposition asset to increase value
12. Develop and execute works via appointment of suitable project team
13. Implement lease surrenders, regears, renewals, rent reviews and tenant mix improvements
14. Identify and implement planning and change of use opportunities.
Valuations and Performance Measurement
15. Supply base property information to Fund valuer.
Management of Property Manager
16. Regularly attend review meetings with the property manager
17. Monitor their performance against KPI’s
18. Tracking and monitoring of rent arrears
19. Monitor data-base records, fully understand the property records database.
Management of Letting and Strategic Agents
20. Develop relationships with main tenants
21. Leasing, renewing leases, reviewing leases, dealing with planning aspects, remodeling, extending and reconfiguring space, marketing and progressing asset management initiatives on a broad portfolio across all funds
22. Establish letting strategy and objectives, and update regularly as required to reflect business plan and changes in the market.
23. Define expectations regarding provision of market information (e.g. – trends, rental values, competing properties etc)
24. Monitor and action critical lease events (rent reviews, expiries, breaks).
Finance and Accounting
25. Review property rent and service charge collection
26. Approve irrecoverable costs within discretionary levels set by house DA and client
27. Ensure adherence to internal and audit controls
Client Reporting and Communications
28. Give information to Portfolio Management in order to help them to prepare and deliver reports
29. Work with Portfolio Manager to implement a “no surprises” communication policy
Environmental and Sustainability
30. Deliver asset management initiatives in line with house sustainability policies
31. Critically assess asset performance and the positive/negative influences of environmental factors
Required Qualifications & Experience
32. Minimum 3-5 years’ work experience;
33. Experience in Asset Management together with sound and thorough understanding of commercial asset management practice
34. Proven track record of delivering investment performance through asset management of relevant asset classes (office, retail and logistic), especially with commercial leasing
35. Ideally experience in the acquisition and disposal of investment property including responsibility for the due diligence process
36. Demonstrable skill in identifying opportunities to add value
37. Strong numeracy, financial and computer skills
38. Adaptable team player with the ability to operate autonomously when needed in a high-pressure environment.
39. Strong interpersonal skills with the ability to present to clients in both a verbal and written format
40. Ability to work collaboratively with internal teams including Fund Teams, analysts, finance, strategy, and client services.
41. Willingness and motivation to work in an international team (across borders)
42. Willingness to travel
43. Strong communication skills
44. Fluent German and English.
LaSalle is an Equal Opportunity Employer and encourages applications from all sections of the community
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