Director/Sr. Director, Office Asset Manager

US-TX-San Antonio
6 months ago
# of Openings

Company Overview

Acquiring, developing, and managing quality real estate investments since 1982, USAA Real Estate provides superior returns investing across the risk spectrum, with expertise in office, industrial, multi-family, retail and hotel assets. As a significant co-investor in all programs, USAA Real Estate maintains an “INVESTOR FIRST” mentality.  USAA Real Estate is the real estate investment management arm of USAA, a leading financial services company serving military families since 1922. USAA Real Estate has achieved a track record of success living up to the high standards set at USAA and sharing its culture.  USAA’s balance sheet puts USAA Real Estate in a position of strength – well capitalized to invest in multiple strategies.  USAA Real Estate is headquartered in San Antonio, Texas.

Job Description

Job Purpose:


The Director/Sr. Director, Office Asset Manager is an integral role within the Asset Management Group and is responsible for developing and executing property level strategies to enhance and protect asset value, meet investment objectives, and oversee key asset management issues of assigned office properties and/or portfolios.  This person will interact extensively with the head of Asset Management as well as the leaders in the different functional areas (acquisitions, accounting, portfolio management and global investors group) and others within USAA Real Estate Company.


Essential Duties:

  1. Responsible for the overall operation and performance of multiple office assets within a portfolio. 
  2. Oversee leasing and marketing plan for assigned properties to include lease up projections, estimated tenant improvement costs, marketing methods and associated budget, and prospect plans, etc. The leasing plan will include an emphasis on traveling to markets to understand the competitive set and business development with tenants and brokers.  The plan will include working with the asset management team to consistently apply best practices across the portfolio with an emphasis on high occupancy at the best economic terms.
  3. The leasing program will require the asset manager to run regularly scheduled leasing calls to review prospects and gather market intelligence.  The Asset Manager will travel to assigned markets to proactively meet with top brokerage teams, develop relationships with existing tenants and facilitate marketing events as necessary.  A thorough knowledge of the macro market, submarkets and competition will be required via market tours, research reports, tenant relationships and brokerage relationships.
  4. Revise Leasing Policies and Procedures as determined by ownership for distribution to property leasing personnel. Administer the Exclusive Leasing Agreement with selected leasing team.
  5. Supervise and coordinate the negotiation of leases.  Review and analyze detailed financial analysis of existing portfolio assets and property specific lease transactions. Approve lease transactions within parameters. Present and obtain senior management approval for transactions outside of parameters.
  6. Develop comprehensive asset strategies to include leasing, property improvements, capital structure and sell/hold analysis based upon financial analysis, market analysis and valuation reporting.
  7. Provide financial and operational oversight at both the property and portfolio level to ensure the economic viability of the properties. Supervise the annual budget process with third party managers, investment partners and internal analyst resources to include presenting and implementing the property budget/business plan.
  8. Understand competitive positioning relative to rents, lease terms and overall occupancy and the means to maintain a competitive edge. Monitor market trends in value, cost and supply/demand fundamentals to identify acquisition and disposition opportunities and continuously review portfolio for opportunities to add value through renovation, expansion or repositioning of the assets and make recommendations accordingly.
  9. Supervise and review performance of staff, including property managers and leasing personnel. Administer the management agreement with property management company and may include developing a transition plan for the management of new assets as required, and implementation of the plan. Communicate to the property management and leasing staffs the tenant service levels expected of them and work together with those teams to monitor and ensure that tenant service levels are at or above those levels.
  10. Monitor and review property level valuations on assigned assets each quarter.  Maintain ARGUS files and DCF models. Review and critique outside appraisals. Work closely with internal Realco Portfolio Managers and with external appraisers on industrial assets within various Realco funds.
  11. Analyze and compare current and historical operational NOI against key metrics and original underwriting.
  12. Prepare quarterly reports on property performance to include progress on strategic initiatives and comparison to budget and development underwriting.
  13. Assist with the professional development, training and mentoring of other team members. Serve as a resource for answering questions and providing guidance to fellow team members.
  14. Help and participate in various projects and reports as required in the Asset Management group, as well as be a key team member in providing Portfolio Managers with information and analysis on assigned assets.


At USAA Real Estate our employees enjoy generous benefits packages including comprehensive medical, dental and vision plans, 401k, USAA Membership eligibility, educational and professional designation assistance, business casual dress attire and much more!  Qualified applicants must successfully complete a pre-employment background and drug screen.  The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.


USAA Real Estate is an Equal Opportunity and Affirmative Action Employer of Females, Minorities, Veterans and Disabled.


Minimum Qualifications:

  • Bachelor’s degree; preferably in Finance, Accounting, Business, or Real Estate. 
  • 8+ yrs. of institutional level asset management experience.
  • 5+ yrs. of office asset management experience w/ prior regional supervision responsibilities of multiple assets including direct responsibility of the leasing program.
  • 5+ yrs. of direct responsibility managing a leasing program to include speculative development and a proven track record of tenant retention via successful renewals.   
  • Class A institutional experience on ground up development and lease up projects thru successful disposition.
  • Successful record of accomplishment and demonstrated experience with analyzing complex investment issues, developing investment strategies and executing strategies to achieve results and effectively manage risk.
  • Traveling as necessary to visit assets and become a market expert in numerous geographies, as well as actively representing USAA Real Estate Company in the marketplace.
  • Advanced user of Excel, and proficient in Word and Outlook.
  • Argus experience.
  • Highly developed interpersonal, presentation, negotiation and communication skills.
  • Supervisory experience, with proven skills in developing and motivating a team to achieve high performance.
  • Qualifications may warrant placement in a different job level.

Physical Requirements:

  • Regularly required to sit for extended periods of time; frequently required to stand, walk, and use business equipment daily such as computer, copier, fax, telephone, etc.; frequently required to reach overhead, bend, and lift objects of up to 40 lbs.
  • Ability to handle stress caused by multiple priorities, and other unforeseen situations associated with the organization.
  • Eyesight and hearing must be correctable to standard level.


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