Role Value Proposition:
MetLife is seeking an Associate Asset Manager to join our Real Estate Investment’s Equity Strategies Group (ESG) managing a portfolio of assets in our Washington DC Region on behalf of our general account, ODCE fund and Separate Account Clients. Global Real Estate and Agricultural Investments maintain a portfolio invested in commercial real estate and agricultural mortgages, as well as real estate equities. The ESG sources and manages a $25 billion portfolio through seven regional field offices in the U.S. and International offices in London, Tokyo, Mexico City and Santiago.
The Associate Asset Manager will be responsible for overseeing the leasing, property management, construction management, client reporting, valuation and overall accounting for a defined portfolio of commercial investment properties. Property types may include office, retail, multi-family and industrial. On-going responsibilities include overseeing third-party property management and leasing teams; developing annual budgets and business plans, quarterly valuations; and complying with all reporting and accounting requirements.
- Manage budgeting, forecasting and expense management within your portfolio to maximize recurring net income.
- Negotiate leases, legal documents and contracts. Coordinate and manage various internal/external resources and consultants (i.e., attorneys, environmental, construction).
- Asset valuation including both internal valuations and review of external appraisals.
- Develop and implement, through third-party property and leasing teams, property level strategies for leasing, operations and capital expenditures that will maximize property performance.
- Support the sales process of designated assets including engaging brokers, evaluating bids, negotiating contracts, managing due diligence and closing.
- Support equity acquisition process. Participate in pre-acquisition due diligence. Assist with the selection of property management and leasing teams by securing proposals, conducting interviews and assisting with management agreements. Assist with the property transition process by working with internal bank relations, insurance and accounting departments.
- Manage JV relationships and development partners and projects, as applicable.
- Support the national Equity Strategies Group as needed on various committees and assignments.
Essential Business Experience and Technical Skills:
- Results-driven professional with 5+ years of experience in commercial real estate or asset management.
- In-depth knowledge and experience in the asset management of commercial real estate assets.
- Experience managing and leading property level leasing and property management teams; Experience in lease negotiation and structuring.
- Strong real estate valuation and underwriting skills.
- Strong computer skills including proficiency in Argus Enterprise, MRI, Excel, Word and PowerPoint
- Bachelor’s degree in an applicable business related field; MBA
- Knowledge of sustainable real estate practices, LEED GA
- 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 document such as leases, management agreements, JV agreements and appraisals.