Our client is one of the largest real estate investment managers in the world. The firm has over 400 clients with $90 billion in assets under management across all property types in North America, Europe, and the Asia Pacific. The company acts as a trusted and effective advisor, managing assets with attention to risk management. The organization provides access to real estate asset classes through a broad platform of separately managed accounts and open- and closed-end funds.
The team is looking for an AVP to join its Asset Management team with responsibility for a portfolio of commercial assets nationwide.
Asset Managers within the firm’s Private Equity Group are responsible for the overall performance of his/ her assigned assets. Prior to acquisition, Asset Managers work closely with the PE Group’s Acquisition Team on the evaluation of a prospective investment and its underwriting.
After acquisition, Asset Managers, working closely with the Portfolio Manager, have overall responsibility for executing the established investment strategy.
On an annual basis, Asset Managers must re-evaluate the investment plan and set appropriate annual goals designed to achieve the stated asset goals. Asset Managers are responsible for monitoring the performance of each asset to ensure annual goals are met. Asset Managers complete an annual hold/sell analysis for each asset, and once an asset is identified for sale, they must work closely with their respective Portfolio Managers to manage the disposition process.
- Manage a portfolio of investments with a degree of independence.
- Execute investment strategy and understand investment performance measures and metrics.
- Develop annual business plans to achieve investment strategies that are consistent with client objectives.
- Prepare quarterly valuations, quarterly investment updates, quarterly cash flow projections and other financial reports.
- Review and approve property operating statements; share accountability for budgeted results and supports the budget versus actual analysis.
- Analyze leases and rental rates against market and budget; make recommendations to Portfolio Management on leasing decisions; negotiate leases with support from senior team.
- Analyze value of capital projects; create plan and make recommendations to Portfolio Management; execute capital plan.
- Implement ESG+R strategies
- Negotiate property management agreements with support from senior team.
- Support senior team in restructurings, sales and asset financings as required.
- Understand capital and investment structure and the relationship between property operations and investment performance.
- Develop strong market knowledge for assigned assets; collect market information including competitive market information.
- Support Asset Management on assets through data collection, cash flow modeling, competitive analysis, research analysis and annual business plan and budget preparations.
- Support Acquisitions on market intelligence and due diligence for new acquisitions.
- Work effectively as a member of a team.
- Develop strong working relationships with Portfolio Managers and members of the Asset Management team.
- Generate innovative approaches to situations.
- Implement thorough follow-up and attention to detail.
- Provide constructive input on improving how the Firm and/or the group functions.
- Contribute to the professional development of peers and more junior level staff.
- BS/BA and a strong academic record with emphasis on real estate, finance, accounting and/or economics required.
- 5-7 years of direct real estate asset management experience required.
- Strong analytical and organizational skills.
- Knowledge of accounting and finance principles.
- Strong oral and written communication skills.
- Fluency with Argus AE valuation software and Excel required.
- Ability to select and efficiently manage the activities of internal resources and third-party service providers
- Good negotiation skills and presentation skills