Managing Director, Asset Services - Atlanta
|Category:||Financial : Real Estate|
Korn Ferry has partnered with our national client, Cushman & Wakefield, on their search for Managing Director, Asset Services - Atlanta.
Cushman & Wakefield (C&W) was founded in New York, N.Y., in 1917, by brothers-in-law J. Clydesdale Cushman and Bernard Wakefield. Expanding first throughout the United States and then globally, Cushman & Wakefield now has 53,000 employees across approximately 400 offices in 60 countries. The Firm reported earnings of $8.8 billion in 2019, and manages over 4.1 billion square feet of commercial real estate space on behalf of institutional, corporate, and private clients.
Cushman & Wakefield’s Service Lines:
Property, Facilities and Project Management
The Firm’s largest service line includes property management, facilities management, facilities services and project and development services. For occupiers, they offer integrated facilities management, project and development services, portfolio administration, transaction management and strategic consulting. These services are offered individually, or through C&W’s global occupier services offering, which provides a comprehensive range of bundled services resulting in consistent quality service and cost savings. For owners, the Firm offers a variety of property management services, which include client accounting, engineering and operations, lease compliance administration, project and development services and sustainability services. In addition, they offer self-performed facilities services globally to both owners and occupiers, which include janitorial, maintenance, critical environment management, landscaping and office services.
Asset Services, Transformation into Investor Services
The Asset Services business unit is the fastest-growing segment of the Firm’s Property, Facilities and Project Management service line. With $500m in 2020 Revenue, Asset Services is on a mission to double in size by 2026. This role, and the Atlanta market it commands, is expected to play a significant role in the attainment of that goal.
Furthermore, Asset Services is in the midst of a transformative repositioning…whereas the business unit was previously known for Commercial Property Management services, the business unit is aggressively widening its lens to provide a host of investor-oriented services, including Asset Management and Multifamily Property Management.
Cushman’s second largest service line consists of two primary sub-services: owner representation and tenant representation. In owner representation leasing, C&W typically contracts with a building owner on a multi-year agreement to lease their available space. In tenant representation leasing, they are typically engaged by a tenant to identify and negotiate a lease for them in the form of a renewal, expansion or relocation. We have a high degree of visibility into Leasing services fees due to contractual renewal dates, leading to renewal, expansion or new lease revenue.
C&W represents both buyers and sellers in real estate purchase and sales transactions and also arranges financing supporting purchases. Its services include investment sales and equity, debt and structured financing.
Valuation & Other
C&W provides valuations and advice on real estate debt and equity decisions to clients through the following services: appraisal management; investment management; valuation advisory; portfolio advisory; diligence advisory; dispute analysis and litigation support; financial reporting and property and/or portfolio valuation. Fees are earned on both a contractual and transactional basis.
Cushman & Wakefield’s Core Values are a pivotal aspect of its operations and culture:
- Inclusivity: We value difference and a culture where everyone belongs.
- Drive: Drive keeps us decisive and agile
- Success through Collaboration: Individually, we’re good, but together, we’re great.
- Delivery of Insight: We believe in ideas and strive for innovation
In the past three years, Atlanta has been labeled as a strategic growth market for Cushman & Wakefield, which has been spearheaded by the growing success of the Atlanta Capital Markets team over the past three years. As the Atlanta region continues to be prioritized, its Asset Services team now finds need for a senior leader who will bring with her/him drive, experience, and deep strategic relationships – all to complement what the Firm is dedicated to making a period of growth in the region.
The Managing Director, Asset Services will assist the Cushman & Wakefield Asset Services Team, with an acute focus on the developing, nurturing, and managing of relationships within Atlanta market. This individual will report to the President of Asset Services (Americas) and the group’s Executive Managing Director (Head of Eastern Region) – with dotted-line reporting into the Managing Principal of the Chicago Office.
This individual will ensure profitability, service quality, strong client relationships, and provide strategic and tactical decision-making for the entire Atlanta Asset Services team. Further, this individual will successfully integrate a deep and trusted “book” of his/her own successful strategic relationships with capital markets and tenant representation professionals
Additional responsibilities include:
- Create value through new business growth in Asset Services, cross-sell service lines and geographic locations for additional revenue for the firm, identify and pursue expansion of service opportunities with existing clients.
- Deliver financial results (P&L responsibility), as well as preparing market level Asset Services budget including monthly variances and forecasting.
- Develop/implement/enhance marketing plans for Asset Services, organize/lead team proposals for new business while leveraging relationships to maximize success rate.
- Lead monthly calls to share best practices and produce leads for institutional clients in multiple markets.
- Establish and monitor appropriate checks and balances to ensure high level of quality in operations while ensuring that Asset Services teams understand and exceed Client goals and objectives for each property.
- Negotiate property management agreements with all clients.
- Ensure compliance with all management agreements, service contracts, and accounting policies and procedures as well as SOC controls.
- Review and approve expenditures, which exceed the authority level established for property manager per the management agreement or Cushman & Wakefield’s SOC controls.
- Guarantee timeliness and accuracy of financial and management reports.
- Maintain relationships with Client’s key decision makers.
- Verify the existence of property procedures including Operations Manual, Tenant Handbook, and Emergency Procedures per C&W’s or Client’s policies and procedures.
- Collaborate with client accounting, corporate accounting, finance, TQC, and other functional leaders.
- Develop the most profitable and efficient personnel model to staff each asset.
- Participate in national Asset Services task forces and/or committees.
- Financial Acumen
- Customer Focus (internal and external)
- Communication Proficiency (oral and written)
- Time Management Skills
- People Management Skills
- Business Development
Specific experience and qualifications should include:
- 15+ years of commercial property management and/or executive level leadership experience.
- Extensive experience in analyzing and negotiating commercial lease and/or contract language.
- Proven experience in identifying, developing, and motivating team members.
- CPM and/or RPA designation.
- Real Estate License.
- Skilled at identifying and initiating new relationships, as well as sustaining a pool of new business leads with dynamic, high-energy professionalism and who has a proven track record in generating new business.
- Professional industry designation and active participation/leadership in local and national chapters preferred.
- Actively involved at the leadership level in charitable organization(s).
Bachelors degree in Business Administration or related discipline.
Additional Eligibility Qualifications
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to communicate with others and exchange accurate information; operate a computer and other office productivity machinery; move about the workplace; remain in a stationary position for 85% of the time; and extend hands and arms in any direction.
C&W provides equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law. Further, the company takes affirmative action to ensure that applicants are employed and employees during employment are treated without regard to any of these characteristics. Discrimination of any type will not be tolerated.
This job description is not designed to cover or contain a comprehensive list of activities, duties or responsibilities that are required of the employee. Other duties, responsibilities and activities may change or be assigned at any time with or without notice.
Note: This job description includes the core responsibilities for C&W. These duties may have.
Korn Ferry shall provide equal employment opportunity to all qualified candidates, and will refer candidates without regard to race, color, religion, national origin, sex, age, disability, veteran status or any other legally protected basis.
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