Job details
Job type
Full-time
Full job description
General Information
City/Cities
Los Angeles
State(s)
California
Country
United States
Working Schedule
Full-Time
Work Arrangement
Hybrid
Travel Required
10%
Relocation Assistance Available
No
Posted Date
18-Mar-2024
Job ID
1836
Description and Requirements
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 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 Los Angeles Regional Office Equity Asset Management Associate will support Asset Management teams. The regional portfolio includes office, industrial, multifamily, retail, and land holdings.
Key Responsibilities:
- 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 portfolios.
- 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 portfolios.
- 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 of relevant experience with a 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 the ability to interact with and make recommendations to senior team members.
- In order to post for this position, you need the proper work authorization to work in the country where the position is located and not require relocation assistance.
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.
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 wage range for applicants for this position is $112400 to $130700. 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.
Equal Employment Opportunity/Disability/Veterans
If you need an accommodation due to a disability, please email us at accommodations@metlife.com. 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.