Asset Manager
City of Coral Gables, FL
Asset Manager
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Asset Manager
Salary
$95,269.27 - $147,667.39 Annually
Location
City of Coral Gables, FL
Job Type
Full-time
Job Number
183
Department
City Manager's Office
Opening Date
01/02/2025
+ Description
+ Benefits
+ Questions
Summary
This position performs administrative and managerial duties overseeing the City's asset management functions. The incumbent is responsible for ensuring real estate leases, concession agreements, management and operation agreements, and vendor agreements, are entered and monitored as directed by the City Commission, including policies, regulations, operating income and expenses, related to the acquisition, development, management, and disposition of City-owned assets. Field work, research, and landlord-tenant contact, including coordination of tenant build-outs is required to ensure contract compliance. Work involves the direction of efforts to maximize the revenue potential and /or community use of municipally owned assets. This position reports directly to the City Manager.
Job Duties and Responsibilities
The following duties are normal for this position. The omission of specific statements of the duties does not exclude them from the classification if the work is similar, related, or a logical assignment for this classification.
Administrates leases including maintaining lease files, obtaining insurance certificates, abstracting leases, ensuring Landlord and Tenant lease requirements are met, responding to Tenant requests, arranging for Landlord repairs, and tracking major dates such as commencement dates and renewal options.
Monitors and analyzes financial performance of properties in portfolio and performs financial analysis of projected rents to determine greatest return. Evaluates and recommends project priorities, and maintains financial status of projects in progress.
Manages detailed inventory of existing real estate assets, including property characteristics and market value.
Researches and compiles data regarding rental income, expense projections and maintenance costs.
Understands the local commercial real estate market, communicates with brokers regarding valuation/comps and potential for sites.
Orders and reviews appraisals, economic studies, and other similar reports as necessary.
Conducts property inspections, identifies operational issues and works on resolutions.
Conducts research and prepares documentation, detailed reports, memoranda and correspondence as necessary.
Assists the City Manager with various matters including, but not limited to Commission Meetings, Neighborhood Meetings, project construction from the perspective of Economic Sustainability, and other matters as assigned.
Assists with leasing and other real estate related deals including, showing space, developing deal terms, identifying prospects, and negotiations, as assigned.
Represents the City and City Manager on various occasions and serves on a variety of internal and external committees.
Communicates verbally and in writing with tenants. Landlords. And City departments regarding space allocation and contracts.
Performs related work as required.
Qualifications
Bachelor’s Degree in Business Administration, Real Estate, Finance, Economics, Marketing or a related field.
Minimum of five (5) years prior experience with regards to management of commercial real estate and asset management.
Real Estate License and/or Real Estate Broker License is preferred.
Valid Florida driver’s license.
HOLIDAYS: 14 days including 3 floating days.
SICK LEAVE: 110 hours annually. Employees may convert to annual leave any unused portion of the first 64 hours of sick leave.
ANNUAL LEAVE: 93 hours in the first year of employment, increasing up to 210 after 25 years. Employees must take 40 hours of annual leave each year.
BEREAVEMENT LEAVE: 10 days for the death of an immediate family member (Parent, spouse or child). Five days for any other relative living in the same household.
HEALTH INSURANCE: Fully paid by the City (HMO Select) for employees after 30 days. Employee may purchase coverage for eligible dependents.
DENTAL INSURANCE: Available at a cost to all employees through payroll deduction.
LIFE INSURANCE: Term lif Term Life and Accidental Death and Dismemberment equal to 1 x annual salary (up to $200,000) fully paid by the City.
TRAVEL ACCIDENT LIFE INSURANCE: Travel Accidental Death and Dismemberment policy with a $300,000 death benefit, fully paid by the City.
VOLUNTARY BENEFITS: Several plans are available, such as Short Term Disability, Life Insurance and Critical Illness policies through payroll deductions.
LEGAL SERVICES: Legal Service plan available at a cost to all employees through payroll deductions.
POST EMPLOYMENT HEALTH PLAN (PEHP): The City deposits $950 annually into an individual account for each employee. Monies may be used to pay premiums or medical expenses after retirement.
DEFERRED COMPENSATION: Employees may defer a portion of their pre-tax salary in the 457 Deferred Compensation Program.
TUITION REIMBURSEMENT: $2,000 per semester ($6,000 maximum annually) as per the City's Rules and Regulations.
VEHICLE ALLOWANCE: $300 Monthly.
PARKING ACCESS: Parking medallion provides Citywide parking access.
CELL PHONE: Cell phone provided at a monthly cost of $20.00, if required by department.
RECREATIONAL USE: Employee, spouse and immediate family members seventeen (17) years of age and under are entitled to the benefits below:
+ Venetian Pool – No charge for daily admission.
+ Tennis Centers – No charge for daily court fees
+ Youth Center – 50% off residential rates for memberships and 25% off camps and other programs.
Golf at Biltmore & Granada:
+ Monday through Friday – no charge
+ Saturday, Sunday and Holidays:
- Before Noon – Twilight fees apply
- After Noon – No charge
(cart fees apply at all times)
PENSION: Employees have an option to participate in the Coral Gables Retirement System or (if hired after 9/8/2015) a 401(a) defined contribution plan provided by the City.
VESTING: 10 years (Retirement System).
CONTRIBUTION: 10% effective October 1, 2016. (Mandatory Employee contribution under the Retirement System).
RETIREMENT SYSTEM NORMAL RETIREMENT: Employees are eligible for retirement once they meet the Rule of Eighty (80): years of service plus age must equal Eighty, or age 65 with six (6) years of service, or age 62 with 10 years of service
Employees hired on or after 10/1/10 earn a pension benefit of 3% of average final compensation for the first 10 years of service, and 2.25% of average final compensation (5 year average) for each year thereafter, up to a maximum of 75% of average final compensation.
MILITARY/GOVERNMENT BUY-BACK: Employees may buy-back up to five years of qualified previous government employment.
DROP: The Deferred Retirement Option Plan (DROP) allows an employee to defer retirement and begin accumulating retirement benefits with interest, without terminating employment. Employees are eligible upon reaching the following requirements (whichever occurs first):
- Rule of 80
- Age 65 with six (6) years of service
- Age 62 with ten (10) years of service
Note: Benefits subject to change.
OR
DEFINED CONTRIBUTION 401 (a)
VESTING: 5 years
CONTRIBUTION: City contributes 7% of base salary per year under the 401(a) plan. (No employee contribution required.)
01
Do you have a Bachelor’s Degree in Business Administration, Real Estate, Finance, Economics, Marketing or a related field?
+ Yes
+ No
02
Do you have at least five (5) years of experience with regards to management of commercial real estate and asset management? Please explain.
03
Do you have a Real Estate License and/or Real Estate Broker License?
+ Yes
+ No
Required Question
Agency
The City of Coral Gables
Address
214 Minorca Avenue Coral Gables, Florida, 33134
Phone
305-460-5523
Website
http://www.coralgables.com
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