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Asset Manager

  • Industry: Facilities Management
  • Location: Maryland - Baltimore
  • Client: Higher Education
  • Search ID: 19-0205-16

Johns Hopkins University has retained Helbling to conduct an executive search to secure an Asset Manager. The Asset Manager is responsible for providing day-to-day asset management oversight to third-party property management firms contracted by the University, on multiple campuses, and properties for the assigned portfolio (subset of overall properties). The Asset Manager is the institutional representative of the building customers (tenants) and stakeholders located on the campuses, including operational, financial, strategic planning, special projects and logistical/crisis response and provides oversight to contracted firms, managers, engineers, administrative support, security and custodial services. 

Internally, the Asset Manager interacts regularly with the real estate leasing team, the accounting and budgeting teams, and the Planning, Design & Construction divisions. The Asset Manager also plays a role in overseeing active lease administration of third-party leases, but without direct reporting of property managers or contracted firms. The Asset Manager will also provide support to oversee financial analysis related to leasing and capital decisions, leasing strategy and evaluation, procurement oversight, asset and capital improvement budgeting, long term strategic asset management plans, management coordination, and stakeholder communications. The Asset Manager will report directly to the Director of Asset Management and have close contact with the Chief Real Estate Officer (CREO) on key initiatives.

The real estate portfolio includes 19 buildings with approximately 2.1 million square feet and an aggregate annual operating budget in excess of $60 million plus related capital projects. The University also leases over two million square feet of space in third party buildings, owns a hotel/conference center under third party management, has several ground leases to third parties, owns a residential portfolio of 265 units in four properties, and is considering other significant prospective developmentsites. The Asset Manager assumes a leadership role and interfaces with both the University and Medicine for Johns Hopkins.

Essential Job Functions:

  • Actively manage properties to ensure achievement of specified operational objectives, including leasing, capital improvements, system enhancements, customer satisfaction, operating expense control, strategic planning, identification and resolution of property and risk management issues, contract negotiation and administration, management of third party vendors,  sustainability efforts, emergency management, and other applicable areas.
  • Work effectively and collaboratively with a number of stakeholders including Johns Hopkins University and Health System leadership, the real estate team, the accounting and budgeting teams, schools, division and department leadership, tenant representatives, the campus security team, third party vendors, and local community groups.
  • Work collaboratively with stakeholders on project management outlining goals / objectives, deliverables, required resources, project budget and timing as applicable. Collaborate with internal building tenants, stakeholders, and third property management firms to prepare annual operating budgets, financial reporting, capital improvement plans and major contracts.
  • Work closely with the on-site teams to explore and implement opportunities to enhance the property management monthly financial reporting, variance analysis and ensure timely and effective communication of performance results including meetings with key stakeholders.
  • Complete regular property visits and inspections, assessing and monitoring adequacy of staffing levels for various operating areas, evaluation of project status / completion and  implementation of building standards. 
  • Work with the Director of Asset Management and peers to establish review processes and analyses to monitor property financial performance, variances against budgets, expense and income drivers and recommend actions accordingly. 
  • As assigned, the Asset Manager will review, approve and present to CREO / Director of Asset Management and Divisional Business Officers (DBOs) all operating budgets, financial reporting, and capital improvement plans. 
  • Provide strategic guidance to staff for budgets and capital planning to ensure short and long term planning is in place to maintain the building value and infrastructure of the building, and enhance the operations. 
  • Participate in the hiring, managing, and leading of the staff servicing the properties to ensure quality and consistency. Work with the onsite team as well as the applicable third-party personnel. 
  • Serve as an effective convener and communicator regarding all critical asset management issues relative to the assigned portfolio. Be proactive in addressing challenges with the Director and CREO before they evolve into problems. 
  • Participate and / or lead special project efforts for the campuses and participate in applicable enterprise committees representing Real Estate, such as Crisis Management, ADA Compliance, Strategic Planning, and Grounds Committee. 
  • Participate in the local environment, ensuring the building and campus is considered an asset in the community, working closely internally with Hopkins Community and Government Affairs, and externally with the adjacent neighborhoods / communities where the asset is located. 
  • Execute strategic initiatives / special projects in support of the buildings, enterprise or business unit goals and objectives such as stakeholder meetings, surveys, and food service options. 
  • Ensure industry standard documentation and property information is organized and maintained for each property and asset. Conduct regular documentation audits and report any issues to the Director of Asset Management and CREO. 
  • Ensure and manage asset risk including insurance coverage and safety compliance. 
  • Support the Director and CREO in developing and maintaining standard operating policies, procedures, systems, reports and internal controls for property, facilities and asset management.

This position specification is a general statement of required major duties and responsibilities performed on a regular and continuous basis. It does not exclude other duties as assigned.

The Organization

The Johns Hopkins University is one of the world’s leading research universities. Based in Baltimore, Maryland, the University comprises 10 academic and research divisions and numerous centers, institutes, and affiliated entities throughout the Baltimore-Washington area and abroad. Divisions of the university include: the Zanvyl Krieger School of Arts and Sciences, the G.W.C. Whiting School of Engineering, and the School of Education on the Homewood campus; the School of Medicine, the Bloomberg School of Public Health, and the School of Nursing located nearby in East Baltimore; the Peabody Institute and the Carey Business School in downtown Baltimore; the Paul H. Nitze School of Advanced International Studies in Washington, D.C. with campuses in Bologna, Italy and Nanjing, China; and the Applied Physics Laboratory in Laurel, Maryland. In the fall term of academic year 2017- 2018 Johns Hopkins had a total enrollment of 25,151 students. The University attracts the finest undergraduate, graduate, and professional students and more federal research and development funding than any other university in the United States.

The mission of the University is to educate its students and cultivate their capacity for life-long learning, to foster independent and original research, and to bring the benefits of discovery to the world. Johns Hopkin’s real estate initiatives are closely tied to both the mission of the university as well as President Daniels’ vision for the university as expressed in his Ten by Twenty goals. Johns Hopkins is extraordinarily entrepreneurial and excellence-driven, and this entrepreneurial spirit generates the innovation for which Johns Hopkins is known internationally—innovation that often happens through collaborations that harness complementary strengths to find solutions to our greatest societal, philosophical, and scientific challenges. 

The Johns Hopkins Medicine:
The mission of Johns Hopkins Medicine is to improve the health of the community and the world by setting the standard of excellence in medical education, research and clinical care. Diverse and inclusive, Johns Hopkins Medicine educates medical students, scientists, health care professionals and the public; conducts biomedical research; and provides patient-centered medicine to prevent, diagnose and treat human illness. Johns Hopkins Medicine pushes the boundaries of discovery, transforms health care, advances medical education and creates hope for humanity.

In 1997, leaders of the Johns Hopkins University School of Medicine and the Johns Hopkins Health System Corporation came together to form Johns Hopkins Medicine, and this blended governance structure has contributed to the success of the organizational mission – excellence in patient care, research and education. Johns Hopkins Medicine employs more than 40,000 full-time faculty and staff members, making it among Maryland’s largest private employers and the largest in Baltimore City. Johns Hopkins Medicine operates six academic and community hospitals, four suburban health care and surgery centers, and has more than 2.8 million outpatient encounters per year.

Education & Experience

  • Bachelor’s Degree in Business Administration, Accounting, Real Estate, or related field required. 
  • Ten (10) years of experience in commercial real estate/property management. 
  • Applicable industry certification preferred. 
  • Proven supervisory experience required to manage teams of people including other managers, technicians, vendors and contractors.

Knowledge, Skills, and Abilities

  • Strong interpersonal, communication, public relations and negotiation skills necessary to establish and maintain rapport with a variety of customers, building stakeholders, enterprise leadership, contractors and community contacts. 
  • Strong financial, analytical and mathematical skills in order to analyze budgets, evaluate bids and proposals and oversee asset pro forma development.
  • Operational experience with a variety of building systems.
  • Highly motivated and proficient at managing multiple tasks simultaneously and working on high pressure projects. 
  • Experienced in prioritizing day-to-day operational issues coupled with a leadership role in departmental initiatives is essential. 
  • Technologically proficient with Microsoft office applications and industry/property accounting software. 
  • Ability to work weekends and evenings as necessary for asset related issues.

Search Consultant: Wendy Zang

Johns Hopkins University is an equal opportunity employer and does not discriminate on the basis of gender, marital status, pregnancy, race, color, ethnicity, national origin, age, disability,
religion, sexual orientation, gender identity or expression, veteran status, other legally protected characteristics or any other occupationally irrelevant criteria. The University promotes
Affirmative Action for minorities, women, individuals who are disabled, and veterans. Johns Hopkins University is a drug-free, smoke-free workplace.

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