Newcastle Limited is a real estate investor and operating company that acquires, develops, and owns retail, multifamily, and mixed-use properties in urban Chicago. The firm’s growing $1.6 billion portfolio consists of 90 assets comprising ~3,000 apartments and ~600,000 square feet of retail space. An entrepreneurial investor with institutional backing, Newcastle can deploy large amounts of capital and close deals quickly. Newcastle has delivered outstanding returns to its capital partners for more than a decade and is poised to grow substantially over the next five years.
For more information on Newcastle Limited, please visit the company website at www.newcastlelimited.com.
Reporting to the Vice President of Retail Management, the Retail Lease Manager will be responsible for administrating the leases of Newcastle’s 63 retail assets and 150+ tenants. The Retail Lease Manager will work closely with the firm’s accounting and retail divisions to abstract leases, monitor lease compliance, process rent, accounts receivable, and accounts payable, review monthly financials, prepare annual budgets, prepare CAM and tax reconciliations, manage documents and file systems, prepare monthly/quarterly/annual reports, and provide general support to the retail management team.
This individual will own the day-to-day lease administration process and will work proactively and independently. The individual will evaluate Newcastle’s current lease administration operations and implement changes to increase efficiency and effectiveness.
DUTIES AND RESPONSIBILITIES
- Act as the main point of contact for coordinating property tours for brokers, vendors, and inspectors.
- Track and enforce tenant lease obligations, compliance matters, and default notices.
- Abstract new leases into Yardi, set up expense recovery profiles, and track lease key dates.
- Track and collect necessary tenant documents (i.e. certificate of insurance, HVAC maintenance records, tenant sales reports)
- Prepare financing materials such estoppels, SNDAs, and property questionnaires.
- Review monthly financial statements for accuracy and prepare annual budgets.
- Prepare and present quarterly tenant sales.
- Oversee tenant recovery pools and budgeted CAM/tax recoveries and reconciliations.
- Generate, review, and send monthly tenant statements.
- Track and reconcile rent payments, calculate late fees, prepare A/R reports, default notices and quarterly audits.
- Manage invoices, re-occurring payables and weekly check runs.
Newcastle seeks a highly organized and motivated Retail Lease Manager that thinks critically and exercises sound judgment, has a positive attitude, a strong work ethic, the ability to handle multiple assignments, and excellent follow-through. Specific requirements include:
- At least 10 years of experience in retail lease administration and accounting.
- In-depth knowledge of retail leases and both landlord and tenant obligations.
- Proficiency with lease administration accounting.
- Proficiency in CAM and tax recoveries and reconciliations.
- Proficiency in preparing property budgets.
- Yardi experience is required.
- Strong familiarity with other real estate legal documents.
- Proficiency in the Microsoft Office Suite (Excel, PowerPoint, Word, Outlook).
- Accounting / Control
- Property Management
10+ to 15 years
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