Lori Korwek Thomas
Chicago,IL
Summary
Results-driven property manager proficient in managing a substantial portfolio of distressed commercial real estate. Demonstrates a strong ability to prepare budgets, conduct variance analyses, and streamline lease administration processes, leading to improved tenant satisfaction and operational performance. Committed to aligning property operations with strategic financial objectives.
Overview
4
4
years of professional experience
Work History
Senior Property Manager
Friedman Real Estate
Farmington Hills, MI
11.2022 - Current
- Managed a 1.8-million-square-foot portfolio of distressed commercial real estate primarily in the Chicagoland area, focusing on daily property operations, tenant relations, financial performance, maintenance, compliance, and client reporting.
- Prepare annual property budgets and forecasts, monthly financial variance and expense reports, and property cash-flow analyses to align with the client's financial objectives.
- Monitor and enforce lease requirements, including rent collection, billing, CAM/Triple Net reconciliations, rent rolls, occupancy reports, and required notices.
- Managed tenant relationships and addressed operational issues while ensuring compliance with lease requirements and company policies.
- Led lease administration activities, streamlining processes for lease abstraction, renewals, assignments, amendments, SNDA's, and estoppels.
- Negotiate and prepare vendor service agreements, establishing a qualified network of property service providers to enhance operational efficiency.
- Coordinate property maintenance, repairs, inspections, and ongoing vendor activities to support safe, efficient, and compliant property operations.
- Lead tenant improvement and capital improvement projects, coordinating activities with tenants, vendors, internal teams, and other stakeholders.
- Prepare property and portfolio reports for clients, company executives, lenders, and appraisers.
- Coordinate and participate in annual lender property inspections.
- Develop and implement strategic operating plans for retail properties, ensuring site operations align with company standards and client objectives.
- Review real estate tax assessments and complete required municipal reports and filings.
- Recognized operational challenges and implemented solutions that balanced tenant needs with financial objectives and contractual obligations.
Education
BS - Business
Purdue University
West Lafayette, INSkills
- Property management
- Portfolio & Asset Management
- Capital improvement projects
- Budgeting & Forecasting
- Financial Reporting & Variance Analysis
- Cash Flow Analysis
- Lease management
- CAM / Triple Net Reconciliations
- Rent Collection & Accounts Receivable
- Vendor management
- Regulatory & Lease Compliance
- Tenant retention
- Client & Executive Relations
- Microsoft Office Word Excel PowerPoint Outlook Yardi Angus Elevate Jones LinkedIn
Accomplishments
- Manage a 1.8-million-square-foot portfolio of distressed commercial real estate assets throughout the Midwest, overseeing day-to-day operations, financial performance, tenant relationships, vendors, and property improvements.
- Successfully collected over 90% of tenant rent for four consecutive quarters, supporting strong portfolio cash flow and financial performance.
- Experienced in preparing annual budgets, forecasts, monthly financial variance reports, expense reports, and property cash-flow analyses.
- Experienced in coordinating vendors, property repair and maintenance inspections, and capital improvement projects while ensuring compliance with codes regulations, and lease requirements during Receivership and through the transition to REO.
- Strong organizational and communication skills with a track record of identifying solutions and resolving complex property issues by implementing process and procedures
Timeline
Senior Property Manager
Friedman Real Estate
11.2022 - Current
BS - Business
Purdue University