Director, Real Estate Equity Asset Management
Boston, MA or Charlotte, NC
Our client is a leading global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, our client maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific.
The primary function of this position is to maximize value of the Firm’s assets through the formulation and execution of asset management strategies for a regional portfolio of real estate assets comprised of multifamily, industrial, office and retail.
- Incorporate a value-added approach to each asset by analyzing revenue opportunities; maximizing property operations; and making capital investments in the properties. Work with internal resources and third party leasing brokers, property managers and other relevant participants to achieve goals.
- Oversee quarterly valuation process, working with analysts, chief appraiser, and portfolio management. Review external appraisals and reconcile valuation issues.
- Conduct inspections of assigned assets to develop a thorough understanding of properties and their competitive positioning; identify opportunities for improvement and communicate to relevant internal and external stakeholders.
- Develop leasing strategies and lead marketing and leasing calls with brokers.
- Negotiate and execute leases, property management agreements and other related contracts.
- Prepare and review annual business plans including SWOT and capital plan.
- Review and analyze monthly and quarterly property operation reports. Assess investment performance against pro forma/budgets; create action plans for underperforming assets
- Prepare periodic reports to portfolio management, clients and Barings senior management.
- Prepare hold/sell analyses; make recommendations to portfolio management and Investment Committee.
- Lead disposition effort including marketing strategy, buyer interviews, purchase and sale contract, and closing.
- Analyze and determine ROI of new capital investment; monitor ongoing capital improvement work, including development and renovation.
- Support due diligence and closing processes on new acquisitions, including legal, financial and physical reviews. Present due diligence findings to Investment Committee.
- Assist with financings, including compilation and dissemination of due diligence information.
- Forge strong relationships with operating partners, brokers and other industry participants and stakeholders.
- Develop deep knowledge of markets in which assets are located; responsible for analysis of market trends and economic drivers to understand impact on asset performance and enable adjustments to strategy in advance of or response to dynamic property market and capital market conditions.
- Support ESG efforts and implementation of ESG strategy across managed assets.
- Supervise, direct and mentor analyst support of asset management function.
- Report to Regional Asset Management Lead
- 8-10 years of real estate asset management experience
- Bachelor’s degree required preferably with a Business, Finance or Real Estate focus; MBA preferred
- Sophisticated financial skills, including advanced proficiency in ARGUS and Microsoft Excel
- Strong quantitative and analytical background
- Proficiency with capital structure (equity, debt, waterfalls, etc.)
- Willingness and ability to travel
- Existing relationships with real estate market participants (brokers, leasing agents, appraisers, etc.)
- Exceptional interpersonal, verbal and written communication skills. Proven presentation skills.
- Sophisticated financial skills and capital markets perspective.
- Ability to interact with senior management, line staff and third-parties in a positive manner.
- Highly organized and collaborative approach to problem solving
- Keen attention to detail and the ability to manage to aggressive deadlines
- Ability to prioritize and manage multiple tasks
- Excellent problem solving skills
- Ability to make key recommendations and decisions.