Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages assets on behalf of over 1,750 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies.
About Real Estate Team
The Fortress Real Estate team is focused on investing equity in distressed and opportunistic commercial real estate through acquiring distressed loans, bankrupt assets, special situations, recapitalizations, joint ventures and off-market acquisitions. The team has a long-standing opportunistic investment and asset management experience with a fully tested and integrated origination, acquisition, underwriting, and asset management infrastructure.
The Fortress Dallas office has an opening for a Senior Asset Manager to join the commercial real estate team to be specifically focused on equity retail investing and asset management. The position will be responsible for creating and executing asset business plans to achieve the fund’s return objectives. The candidate will directly report to the Managing Director of Asset Management and Portfolio Manager, and have close interaction with the investment team, senior fund managers, fellow asset managers, and supporting analysts and associates.
- Overseeing, monitoring and managing the performance of an assigned portfolio of retail properties located throughout North America.
- Development and implementation of business plans and strategies to maximize the value of retail assets including renovating, redeveloping, leasing, merchandising, litigating, and selling.
- Process requests for loan modifications, lease reviews, property releases, reserve releases, construction draws and other situations requiring the Asset Manager’s analysis
- Develop strong relationships and effective lines of communication with clients, colleagues and third parties
- Supervise and drive operating partners and hold them accountable in efforts to maximize value and profitability
- Review and analyze property financials and keep informed of market dynamics and key factors affecting current and future asset performance and value.
- Prepare asset status reports, action plans and annual business plans
- Create and lead value-add capital improvement plans on a variety of retail asset types.
- Effectively interact with in-house departments including acquisition team, capital formation group, accounting, and legal to ensure a consistent understanding of performance expectations and efficient use of resources
- Review and become knowledgeable of the transaction documents, with specific emphasis on loan compliance and operating agreement compliance.
- Develop strong relationships and effective lines of communication with colleagues, JV operating partners, property managers, sales brokers, lenders, and leasing agents.
- Conduct periodic site visits to review physical condition and compliance standards
- Assist in modeling assumptions for new acquisition opportunities
- Negotiate loan documents, purchase and sale agreements, operating agreements, leasing agreements and property management agreements
- 7+ years of direct and hands on experience in commercial real estate retail investing and asset management
- Experience in distressed, opportunistic, repositioning and value add commercial real estate investments.
- Prior leasing, property management, sale and construction oversight experience.
- Strong modeling and analytical skills including regular use of Excel and Argus.
- Acute attention to detail, ability to multitask, and strong organizational skills
- Outstanding written and verbal communication
- Self-starter, able to work independently or in a team environment
- Demonstrated flexibility to handle multiple projects in a fast-paced environment
- Unquestionable integrity and ethics
- A MBA, Masters or Bachelor’s degree in accounting, finance or real estate