EastGroup Properties

COVID-19 UPDATE

Asset Management Associate – Dallas, TX

Location

Asset Management Associate

Job Description

EastGroup Properties is looking to add an Asset Management Associate to our regional office in Dallas, TX.  This position will work directly with our Texas based asset team in the oversight of 18M square feet of Class A business distribution / industrial buildings within our seven Central Region markets:  Dallas, Fort Worth, Houston, Austin, San Antonio, El Paso, and New Orleans.

Asset Management Duties

  • Understand market conditions for the assigned portfolio. There will be required regular trips to other markets to meet with team.
    • Tour all vacant spaces and make sure they are in marketable
    • Tour any spaces related to in-process (or upcoming) construction
  • Assist with lease negotiations (new and renewal) with EastGroup’s third-party leasing representatives.
  • Help oversee EastGroup’s in-house Property Managers with daily interaction related to the operation of the
  • Understand monthly property management reports generated by Asset Manager while consistently monitoring leasing statistics and budget forecasts (four quarterly revisions, EGP is a NYSE company so accurate forecasts are imperative).
  • Have necessary understanding of:
    • Financial results (budget and same store sales) for each market
    • Non-recoverable expenses for each city
    • All TI jobs over $25,000
      • (Yardi experience desirable, but not a pre-requisite)

Acquisitions/Development Duties

  • Assist with underwriting potential acquisitions. Including capitalization rate evaluation, risk and return analysis.
  • Assist in managing the due diligence and activities related to the acquisition and disposition of any properties.
  • Track acquisitions and developments within each Texas market.
  • Build relationships with brokers in assigned markets to stay informed on upcoming market and potential “off-market” acquisition opportunities.
    • This includes attending Commercial Real Estate events in markets typically hosted by NAIOP, SIOR, NATCAR, etc.
  • Assist in identifying potential land acquisitions for development.
  • Help prepare investment committee memorandums related to potential acquisitions as well as future development

Education & Experience

  • Bachelor’s degree in business, real estate, economics, or related field; advanced degree a plus.
  • 3+ years’ experience in commercial asset management, leasing or development.

Knowledge, Skills & Abilities

  • Solid understanding of financial terms and principles, with ability to conduct financial analysis.
  • Excellent communication (both written and verbal) skills are required.
  • Demonstrates sound judgment, ability to analyze and solve problems involving multiple factors in various situations.
  • Strong inter-personal and customer service skills with the ability to maintain effective tenant relationships.
  • Strong organizational skills with attention to detail.
  • Proficient with all Microsoft applications.

 

Working Conditions

Some travel will be required for periodic asset management related property visits, industry events, and select acquisition due diligence.  Property visits may include tours of properties under development or in some phase of construction.

 

About EastGroup Properties

EastGroup Properties, Inc. (NYSE:EGP), an S&P MidCap 400 Company, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina. The Company’s goal is to maximize shareholder value by being a leading provider in its markets of functional, flexible and quality business distribution space for location sensitive customers (primarily in the 15,000 to 70,000 square foot range). The Company’s strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. EastGroup’s portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 47 million square feet.

EastGroup Properties recognizes the value of benefits to employees and their families.  The Company aims to support our employees and their families by offering a comprehensive and competitive benefits program.  For all full-time employees, EastGroup covers the cost of employee only medical insurance at 100% of the cost.  Dependents can be added at the employee’s expense.  Additionally, EastGroup provides group term life insurance, short term and long term disability coverage for employees at no cost.  Dental, vision, FSA and other supplemental insurance options are also available to employees.

EastGroup also recognizes the importance of saving for retirement and offers a 401(k) retirement savings plan with an employer match of 50% up to 10% of compensation.  The company also provides a discretionary 401(k) bonus in addition to the employer match.

Other employee benefits include paid time off, athletic club reimbursements, cell phone reimbursement, community service opportunities, and flexible work schedules.

Other Available Careers

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