Since January 2021, Swiss Prime Site Solutions has been running its asset management in-house. Daniel Moser joined as Head of Portfolio Management in August 2021 and leads the department, managing a team of three. A task with many exciting challenges.
Daniel, how were your first days at Swiss Prime Site Solutions last August?
Daniel Moser: I spent the first two weeks touring the properties and was able to see most of the portfolio in person. It was an ideal way to start the role as it equipped me to tackle the key issues and challenges. It was also a good opportunity for the team to get to know each other.
How is the team set up and how do you divide up your responsibilities?
DM: Each asset manager looks after their own geographic portfolio. Liza Masson covers Western and Southern Switzerland, Hazar Allami looks after properties in the Central Plateau, Eastern Switzerland and Central Switzerland, and Franziska Kamm manages the Zurich and Berne regions. However, the most important thing is that we work as a team!
Let’s find out more from them.
What are your main responsibilities?
Franziska Kamm (FK): Above all else, we’re responsible for the performance of the portfolio. We focus on developing, planning and implementing bespoke strategies. As part of this, we communicate with different stakeholders and manage access to, and interaction with, specialist knowledge and expertise.
Can you describe a day in the life of an asset manager?
Hazar Allami (HA): The work is so varied that no day can be described as typical. Our priorities vary daily and therefore so does the structure of our working day. Issues relating to construction often involve lots of discussions and property tours, whereas issues around profitability and performance require us to carry out analyses and report the findings to the different stakeholders.
What skills and characteristics does an asset manager need to have?
Liza Masson (LM): Asset management is an interdisciplinary role that requires extensive knowledge of investment appraisal, tax and legislation, as well as issues around construction and engineering. But soft skills such as creativity, flexibility and communication are just as important.
What milestones have you reached in the last few months?
HA: As a new team, we’ve become very familiar with the portfolio. We’ve also developed collaborative relationships with both internal and external stakeholder groups, and we’ve already made some improvements to the portfolio. As a result of this proactive asset management, we have a low vacancy rate, have successfully integrated newly purchased properties and developed, analysed and implemented our property strategies.
What has been the biggest challenge over the last twelve months?
FK: The real estate market is extremely diverse. Our biggest challenge was therefore learning all about the local conditions. One of Switzerland’s distinctive features is its different languages and economic areas. The municipalities have significant levels of autonomy when it comes to land-use planning, and legal conditions vary from canton to canton. Within a very short period of time, however, we’ve developed a positive, direct relationship with local market players and our tenants.
Investors are increasingly prioritising sustainability. How are you managing this?
LM: Over the last few years, awareness of our collective social responsibility for climate action and energy consumption has increased significantly. As a key market player, we have decided to take an active approach to sustainability. By defining key sustainability criteria and the associated monitoring for environmental and energy KPIs, we’ve created the basis for identifying climate-related areas of improvement and developing a CO2 reduction pathway.
HA: After signing up to the UN Principles for Responsible Investment (PRI) in autumn 2020, we published our first PRI report in the reporting year. We’re also taking part in the Global Real Estate Sustainability Benchmark (GRESB) for the first time.
Our property portfolio is aligned with customers’ and tenants’ requirements, and our customers are included in the development phase and the subsequent maintenance of properties as a matter of course. As an example, we’re facilitating the introduction of sustainable mobility and leisure facilities as part of our contribution towards community building – developing attractive, contemporary districts.
Which issues require interaction with other colleagues at Swiss Prime Site Solutions?
FK: Asset management starts with the decision to purchase a specific property or realise a project. We not only need to plan the life cycle of a property, but also constantly manage the entire value chain by adapting to any fiscal and legal changes and implementing any necessary financial safeguards. This means that we communicate with our colleagues in Development & Construction, Acquisition & Sales, Controlling and Compliance. We also interact with external parties, as asset management is the link between investors, owners and users.
Is there anything special about your portfolio?
LM: Our portfolio has lots of potential and this is a great foundation on which to build success. Every property brings its own opportunities and challenges. We also have short decision-making channels, enabling us to react rapidly and flexibly when the situation requires it.
And last but not least, what do you like most about your role?
FK: The job of an asset manager is extremely varied and exciting. We’re given plenty of flexibility and all the members of the team really value each other. Every one of us contributes our own individual strengths. We complement each other and are always exchanging ideas about our portfolios. Improvements – whether connected to our day-to-day work or to administrative matters – can be implemented at any time. This helps us to move forward as a team.
