MIM - Associate - Real Estate Asset Mgmt

Description and Requirements
Role Value Proposition:
Based in Whippany, New Jersey, MetLife Investment Management (MIM) is one of the largest institutional investors and asset managers in the world, with nearly $600.8 billion in combined managed assets, and has consistently generated superior returns for both policyholders and shareholders. The enterprise has more than 850 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. Visit us at www.metlife.com/investments to learn more.
MIM's Global Real Estate and Agricultural Investments maintains a portfolio invested in commercial real estate and agricultural mortgages, as well as real estate equities. In addition to sourcing and managing these investments, the groups are responsible for developing and maintaining relationships with key industry contacts and referral sources. The mortgage portfolio and equity portfolio units are organized according to specialty, and they actively manage MetLife's portfolio of mortgage loans and equity investments in agricultural, office, apartment, retail, industrial, and hotel properties. The portfolio units are responsible for overall portfolio strategy, pricing, transaction approval and credit approval on new loans, as well as the active management of the overall mortgage and equity portfolios. 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 Los Angeles Regional Office Equity Real Estate Asset Management Associate will support the Asset Management team for MIM Real Estate's institutional clients. The regional portfolio includes office, industrial, multifamily, retail, and land holdings.
Key Responsibilities:

• Support Asset Management team in establishing and executing asset investment strategy, financial forecasts and budgets, valuation analysis, management and leasing efforts and capital analysis for the regional equity portfolio.
• Fully manage a portfolio of real estate assets, potentially including office, retail, industrial, multifamily and development properties, for a diverse set of clients, including modeling complex transactions and reviewing/maintaining venture waterfalls.
• Develop property operating budgets, capital budgets, income projections and annual business plans.
• Coordinate with acquisitions group regarding new investments to assist in sourcing, underwriting, due diligence and on-boarding, including minimizing operational or financial issues following closing.
• 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), including overseeing the RFP process for new leasing and property management teams.
• Evaluate leasing opportunities, negotiate lease documents and provide concise recommendations for client approval.
• Negotiate various legal documents and contracts. Coordinate and manage various internal/external resources and consultants (i.e., attorneys, environmental, construction).
• Oversee the valuation process for assigned portfolio, including preparing/maintaining valuation/waterfall models, and reviewing quarterly third-party property valuations. A strong understanding of evaluating hold/sell analysis and advanced Excel modeling skills is required.
• Lead 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 communicate with stakeholders including senior asset managers, portfolio managers, joint venture partners, and MIM clients about the performance of assigned portfolio.
• Participate on internal committees, manage database applications, and ensure timely and accurate reporting and financial data.

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 preferred.
• 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.
• Knowledge of standard real estate legal documents, such as leases, management agreements, joint venture agreements, loan documents, construction contracts and appraisals.
• High level of initiative, strong work ethic, attention to detail and willingness to work across teams.

Preferred:

• Bachelor's degree in an applicable business-related field. MBA or Master's in Real Estate equivalent preferred

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.
The salary range for applicants for this position is 1 - 1.
Benefits We Offer
Our U.S. benefits address holistic well-being with programs for physical and mental health, financial wellness, and support for families. We offer a comprehensive health plan that includes medical/prescription drug and vision, dental insurance, and no-cost short- and long-term disability. We also provide company-paid life insurance and legal services, a retirement pension funded entirely by MetLife and 401(k) with employer matching, group discounts on voluntary insurance products including auto and home, pet, critical illness, hospital indemnity, and accident insurance, as well as Employee Assistance Program (EAP) and digital mental health programs, parental leave, volunteer time off, tuition assistance and much more!
About MetLife
Recognized on Fortune magazine's list of the 2024 "World's Most Admired Companies", Fortune World's 25 Best Workplaces™ for 2024, as well as the 2024 Fortune 100 Best Companies to Work For ®, 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 individual and institutional customers. With operations in more than 40 markets, we hold leading positions in the United States, Latin America, Asia, Europe, and the Middle East.
Our purpose is simple - to help our colleagues, customers, communities, and the world at large create a more confident future. United by purpose and guided by empathy, we're inspired to transform the next century in financial services. At MetLife, it's #AllTogetherPossible . Join us!
Equal Employment Opportunity/Disability/Veterans
If you need an accommodation due to a disability, please email us at [email protected]. This information will be held in confidence and used only to determine an appropriate accommodation for the application process.
MetLife maintains a drug-free workplace.
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