Associate Director, Real Estate Asset Management

Role Value Proposition: 

MetLife Investment Management (MIM) is one of the largest institutional investors and asset managers in the world, with over $651 billion in combined managed assets, and has consistently generated superior returns for both policyholders and shareholders. The enterprise has more than 900 dedicated professionals with extensive experience and expertise across public and private fixed income and private assets, including real estate.  

Global Real Estate and Agricultural Investments maintain a portfolio invested in commercial real estate and agricultural mortgages, as well as real estate equities. Real Estate Investments sources and manages commercial real estate investments through seven regional field offices in the U.S. and International field offices in London, Tokyo, Mexico City and Santiago.  The Asset Manager will be responsible for asset management/owner’s representative decision making, overseeing the leasing, property management, construction management, reporting, valuation and overall accounting and other business transactions on an assigned portfolio of commercial investment properties, both existing and under development.  Property types may include office, retail, multi-family and industrial.  On-going responsibilities include overseeing third party property management and leasing teams; developing property business plans, valuations, budgets, complying with all reporting and accounting requirements; working with JV partners; the acquisitions team and sale efforts (as may apply).

Key Responsibilities:  

• Develop and implement, through third party property and leasing teams, property level strategies for leasing, operations and capital expenditures.
• Work with third party developers and joint venture partners to oversee all aspects of new developments and major renovations.
• Budgeting, forecasting and expense management to maximize recurring net income.
• Manage leasing and management teams to maximize property performance (income/value).
• Evaluate leasing opportunities and negotiate leases.
• Negotiate legal documents and contracts. Coordinate and manage various internal/external resources and consultants (i.e., attorneys, environmental, construction).
• Review third party property Valuations or prepare Argus valuations for assigned portfolio;
• Coordinate the sales process of designated assets including engaging brokers, evaluating bids, negotiating contracts, managing due diligence and closing.
• Participate in pre-acquisition due diligence.  Manage the selection of property management and leasing teams by securing proposals, conducting interviews and preparing management agreements. Manage property transition process by working with internal bank relations, insurance and accounting departments.
• Regularly update or meet with internal Portfolio Managers and external JV Partners and MetLife clients about the performance of their assets.
• Assure timely and accurate financial data.

Essential Business Experience and Technical Skills:

Required:

• Results-driven professional with 10+ years of experience in asset management of large and complex commercial real estate assets with some development experience.
• Significant experience managing and leading leasing and property management teams.
• In-depth experience in lease negotiation and structuring.
• Strong real estate valuation and underwriting skills.
• Strong interpersonal (both oral and written) skills.
• Strong computer skills including proficiency with Argus, Excel, Word and PowerPoint.
• Knowledge of building systems and operations issues.
• Ability to take on multiple assignments at the same time each with specific deadlines.
• Basic understanding of standard real estate legal documents such as leases, management agreements, joint venture agreements, construction contracts and appraisals.
• Team player willing to assist other staff members and volunteer for enterprise wide committees and initiatives.
• Active involvement in the local commercial real estate community.

Preferred:

• Bachelor’s degree in an applicable business-related field; MSRE or MBA preferred.

Travel

15%

Business Category

Real Estate Investments

Number of Openings

1

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