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Think that working in the insurance field can’t be exciting, rewarding and challenging? Think again. You’ll help us reinvent protection and retirement to improve customers’ lives. We’ll help you make an impact with our training and mentoring offerings. Here, you’ll have the opportunity to expand and apply your skills in ways you never thought possible. And you’ll have fun doing it. Join a company of individuals with hopes, plans and passions, all using and developing our talents for good, at work and in life.
The position is in support of the Allstate Real Estate Investment Group focusing on direct commercial real estate property acquisitions and selective commercial real estate fund underwriting and associated asset management responsibilities. Through this role, you have an opportunity to be part of a small team that employs an innovative and highly successful business model, working in close collaboration with their capital and operating partners. Key critical areas of focus include devoting substantial energy to support senior team members in researching, identifying, sourcing, underwriting, and recommending new investment opportunities.
The Allstate Real Estate Investment Group invests in a broad array of property types, geographies, risk profiles, ownership structures and lending activities which offers candidates a unique opportunity to gain exposure to many facets of the real estate investment process. As part of Allstate’s larger Investment Management business, the candidate will also participate in a dynamic multi-asset class investment portfolio. The Real Estate Equity portfolio seeks to provide attractive absolute return, portfolio diversification and inflation protections through exposure to income producing properties. Value creation results from a disciplined, fundamental approach executed with a flexible business model able to efficiently attach to those strategies offering the best risk-adjusted returns. A priority is to invest with control, either directly or in partnership with best-in-class operators able to source and manage more complex strategies. Candidates must be strategic thinkers and self-starters with a strong work ethic, willing to wear multiple hats, and have a desire to be an integral part of a team.
- Perform research, financial analysis, underwriting, and preparation of investment committee materials for real estate investments that utilize multiple structures including Commingled Funds, Co-Investments, Joint Ventures, and Directs.
- Assist in execution activities including due diligence, legal, and closing.
- Portfolio/Asset management of existing properties and low-income housing fund investments including preparing annual business plan summaries, hold-sell recommendations and quarterly monitoring for direct real estate assets.
- Support the development of new strategies differentiated by property type, geography, risk profile (core through development), partners, and structure.
- Maintain relationships with existing network of operating partners and fund managers including regular pipeline calls and meetings.
- Participate in activities that support the team’s origination goals including meetings or conferences with operators, fund managers, capital partners and the brokerage community.
- Other duties as assigned.
- Ability to assess and underwrite an array of commercial real estate transactions with experience in at least one of the following: direct acquisitions, joint ventures, club deals, low-income housing tax credits and fund vehicles.
- Strong analytical skills, with an emphasis on the ability to communicate observations into supportable conclusions and recommendations.
- Detail oriented with a commitment to high quality work product on a timely basis.
- Ability to think independently.
- Strong organizational skills-ability to multi-task and achieve results.
- Excellent verbal and written communication skills-ability to interact effectively and professionally with a wide variety of internal and external constituents.
- 3-5 years of experience in commercial real estate equity
- Acquisitions experience is required
- Bachelor’s Degree required
Leadership Requirements and Personal Traits:
This individual must also have the following personal and professional attributes which are consistent with the Company’s stated values:
- Pursue lifelong learning and personal development; interest in pursuing an MBA or CFA a plus
- Thrive on change and continuous improvement;
- Demonstrate and foster a sense of urgency, strong commitment, and accountability while making sound decisions and achieving goals;
- Focus on exceptional customer service and drive innovation to create an atmosphere that supports new ideas and initiative;
- Strive for effective communication that results in teamwork, shared knowledge, and ideas;
- Articulate, inspire, and engage commitment to a plan of action aligned with organizational mission and goals;
- Engage with a diverse pool of talent to meet current and future organizational needs;
- Contribute to an environment where people from diverse cultures and backgrounds work together effectively;
- Be of unquestionable integrity, ethical and moral character;
- Deal effectively with ambiguity, change, and adapt appropriately to a range of situations;
- Be willing to adhere to Allstate Investments compliance requirements and policies which include providing transparency to your investment holdings and preclearance of trades. Details of policies will be provided upon request.
- Asset Management
- Portfolio Management
- Alternative Investments
2+ to 5 years
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