Job Location: United States : California : San Francisco
Alternate Job Location: Not Applicable : Not Applicable
Work Arrangement: Hybrid
Role Value Proposition:
MetLife Investment Management (MIM) is one of the largest institutional investors and asset managers in the world, with $669 billion in total assets under management. MIM has more than 900 dedicated professionals with extensive experience and expertise in all asset classes, with a strength in public and private fixed income and private assets, including real estate. MIM Real Estate maintains a portfolio invested in commercial real estate mortgages, agricultural mortgages, and real estate equities. Building upon their in-depth real estate knowledge and longstanding industry relationships, professionals in MIM Real Estate’s seven domestic regional offices (Atlanta, Chicago, Dallas, Los Angeles, San Francisco, Washington, DC, and Whippany, NJ) and four international offices (London, Mexico City, Tokyo and Santiago) source, underwrite, acquire, asset manage and dispose of direct equity real estate investments.
The San Francisco Regional Office Equity Asset Management and Acquisitions Associate will support both the Acquisitions and Asset Management teams for MIM Real Estate’s institutional clients. The regional portfolio includes office, industrial, multifamily, retail, and land holdings.
Key Responsibilities:
Asset Management
- Support the Asset Management team in preparing and reviewing property-level strategies for leasing, operations, and capital expenditures and compile business plans, property operating budgets, capital budgets, income reprojections and compliance.
- Work with third-party developers and joint venture partners to oversee all aspects of new developments and major renovations.
- Manage third-party leasing and property 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 quarterly third-party property valuations and/or prepare Argus valuations for assigned portfolio.
- A strong understanding on evaluating hold/sell analysis and advance excel modeling skills.
- Assist in the sales process of designated assets including engaging brokers, evaluating bids, negotiating contracts, managing due diligence, and closing. Manage property transition process by working with internal bank relations, insurance, and accounting departments.
- Regularly update or meet with stakeholders including senior asset managers, portfolio managers, joint venture partners, and MetLife clients about the performance of assigned portfolio.
- Participate on internal committees, manage database applications, and ensure timely and accurate reporting and financial data.
- Participate in pre-acquisition due diligence and work with acquisition with on-boarding asset following closing.
Acquisitions
- Support the Acquisitions team in identifying, underwriting, acquiring and closing equity investments that satisfy the investment needs of MIM Real Estate’s institutional clients.
- Assist in the underwriting, valuation and financial analysis of potential transactions utilizing Excel and Argus Enterprise software by interpreting rent rolls, income statements, offering memorandums, market and other relevant property level reports.
- In-depth analytical analyses involving advanced Excel modeling of potential acquisitions and developments, including sensitivity analysis, various leverage structures and joint venture waterfalls.
- Assist in the preparation of transaction approval memoranda and presentations to investment committee.
- Assist with due diligence, data collection and closing/onboarding processes, including tenant estoppel reviews, OFAC compliance, Argus audit, rent roll/lease verification, etc.
- Coordinate with all parties involved in the acquisitions due diligence and closing processes, including regional architects, joint venture partners, portfolio managers, asset managers, property managers, legal counsel, brokers, consultants, and clients.
- Coordinate with the asset management team to minimize operational issues following closing.
Essential Business Experience and Technical Skills:
Required:
- 5+ years relevant experience with demonstrated understanding of commercial real estate valuation and discounted cash flow analysis, and exposure to relevant property types including office, industrial, multifamily, and retail.
- Strong quantitative and computer skills, specifically Excel and Argus Enterprise; knowledge of MRI – Budgeting & Foresight software and familiarity with the leading commercial real estate market data resources (i.e.-CoStar, CBRE Econometric Advisors, Real Capital Analytics, etc.) a plus.
- Well organized and results-orientated team player with the ability to work independently under pressure while handling multiple assignments. Emphasis on communication skills (both oral and written) with ability to interact with and make recommendations to senior team members.
- High level of initiative, strong work ethic, attention to detail and willingness to work across teams.
Preferred:
- Bachelor’s degree in Business, Finance, Real Estate, Economics, Math, Statistics, Liberal Arts or a related field of study. MBA or Masters in Real Estate equivalent preferred.
Assignment Category
Full Time
Business Category
Investments/Real Estate
Number of Openings
1
#MIM
At MetLife, we’re leading the global transformation of an industry we’ve long defined. United in purpose, diverse in perspective, we’re dedicated to making a difference in the lives of our customers.”
MetLife:
MetLife, through its subsidiaries and affiliates, is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.
We are one of the largest institutional investors in the U.S. with $642.4 billion of total assets under management as of March 31, 2021. We are ranked #46 on the Fortune 500 list for 2021. In 2020, we were named to the Dow Jones Sustainability Index (DJSI) for the fifth year in a row. DJSI is a global index to track the leading sustainability-driven companies. We are proud to have been named to Fortune magazine’s 2021 list of the “World’s Most Admired Companies.”
MetLife is committed to building a purpose-driven and inclusive culture that energizes our people. Our employees work every day to help build a more confident future for people around the world.
The wage range for applicants for this position is $110,000 to $128,100. This role is also eligible for annual short-term incentive compensation. MetLife offers a comprehensive benefits program, including healthcare benefits, life insurance, retirement benefits, parental leave, legal plan services and paid time off. All incentives and benefits are subject to the applicable plan terms.
We want to make it simple for all interested and qualified candidates to apply for employment opportunities with MetLife. For further information about how to request a reasonable accommodation, please click on the Disability Accommodations link below.
MetLife is a proud Equal Employment Opportunity and Affirmative Action employer dedicated to attracting, retaining, and developing a diverse and inclusive workforce. All qualified applicants will receive consideration for employment at MetLife without regards to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, national origin, marital or domestic/civil partnership status, genetic information, citizenship status, uniformed service member or veteran status, or any other characteristic protected by law.
MetLife maintains a drug-free workplace.