Senior Real Estate Asset Manager

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Senior Real Estate Asset Manager, HIMCO
 

HIMCO (The Hartford Investment Management Company) is seeking a highly experienced Senior Real Estate Asset Manager to manage a variety of equity and debt assets as part of their $12 billion (plus) Private Real Estate Portfolio.  The Senior Real Estate Asset Manager will be responsible for a group of real estate assets, acting as the primary strategic and relationship manager for certain equity and debt investments.  They will collaborate closely with multiple internal functional areas, working in a dynamic and fast-paced environment.  The Senior Real Estate Asset Manager will report to the Head of Private Real Estate Asset Management and will also provide a leadership role within the team, potentially serving as backup to the Head as needed.  This position is based in our Hartford, CT office on a full-time, but hybrid, work schedule.
 

Responsibilities:

• The Senior Real Estate Asset Manager will be the primary person responsible for the performance and investment management for an assigned group of real estate equity and debt assets.  Property types in the portfolio generally include high quality multifamily, industrial, office, retail, and specialty assets (such as self-storage).  

• Maintain a focus on asset management toward delivering the best potential asset performance, while managing risk to an accepted strategic level.

• For Equity assets, the candidate will be responsible for managing the Joint Venture partner relationships, understanding (and applying) our legal rights and obligations, and managing any third-party debt held on these assets. 

• Equity asset work will also include performing asset valuations and asset summaries, analyzing and managing annual budgets, and overseeing construction/renovation projects.  The Asset Manager with all work with the JV partner and/or Property Management firm to monitor rent rolls and lease expirations, review tenant credit, track operating expenses, and oversee capital expenditures.

• Strong experience in multifamily and industrial asset management desired, with experience/exposure to the following items a plus:  Real Page (benchmarking), Fair Housing Laws and on-site leasing practices, rent optimization software, NMHC industry standards, apartment smart tech, and bulk purchase agreements.    

• Debt asset management work will include tracking loan performance, analyzing key risk metrics on commercial mortgage loan assets, valuing debt collateral, risk rating loans and other tasks.  The Asset Manager will also address borrower requests and any potential loan modifications.

• Overall responsibilities will include the management, risk evaluation, and review of construction loan draws (as a Lender) as well as similar diligent management and review of equity development assets. 

• As a member of the Asset Management team, provide input on markets trends based on asset experience and research, and work collaboratively with other members of Private Real Estate to share ideas and best practices, as well as assisting in any department wide special projects as needed. 

• Provide expedient answers and updates for internal and external clients related to managed assets as needed. 

• Work collaboratively with other team members and act as an internal leader within the team.  The candidate will be a hard-working, efficient, self-directed worker that enjoys working with a great team and supports our positive culture. 

Qualifications

• A minimum of 15 years of relevant real estate investment experience overall, with a minimum of 10 years specifically in equity asset management (or acquisitions) work.  

• Experience managing equity real estate assets representing all major property types (multifamily, industrial, office and retail) is desirable.

• Experience with joint venture structures/documents and managing JV relationships, property management relationships, and management of third-party debt on equity assets is required.

• Experience managing debt assets and/or experience with negotiating loan documents (either as lender or borrower) is a plus, but not required. 

• Ability and willingness to provide a leadership role within the group, such as providing training, mentoring, and best practices guidance.  Able to serve as a backup for the Head of Real Estate Asset Management for select projects as needed.  

• General knowledge of fundamentals of various Real Estate asset sectors and associated demand drivers is required (including apartments, industrial, office, retail assets).  Exposure to, and experience with, niche sectors a plus.

• Strong knowledge regarding a variety of major US geographic markets and trends is required, including experience with assets in urban, inner ring and suburban locations.  Practical use of various third-party research and online data sources to aid in decision-making is required. 

• The candidate will have a strong understanding of real estate financial statements for property-level reporting and tenant credit review.

• The candidate will have the ability to balance and prioritize multiple work tasks, while working with a variety of different teams, while meeting all required deadlines

• Strong written and verbal communication skills are required, as well as the ability to travel in the US as needed.

• General exposure to US industry firms including NCREIF, NMHC, IREM, ICSC, MBA, others a plus.

• Proficiency in ARGUS Enterprise, Excel, and MS Office Suite products required.  

• The candidate must be highly supportive of Diversity, Equity and Inclusion initiatives and hold at least a basic knowledge of industry ESG initiatives for Real Estate assets.

• A Bachelor’s degree or equivalent work experience is required; an advanced degree is a plus.

About the Firm:

Hartford Investment Management Company (HIMCO) is the asset management arm of The Hartford Financial Services Group, Inc. (The Hartford). HIMCO is an insurance asset manager with over $100 billion in assets under management across the global fixed income, equity, and alternatives markets (as of June 30, 2021).  The firm manages assets on behalf of The Hartford, as well as insurance, sub-advisory and other institutional clients.

As a condition of your employment for HIMCO, you will be required to affirm to HIMCO’s Code of Ethics and understand that you will be required to comply with the disclosure of accounts, holdings, and pre-clearance of trades for the accounts of you and your household family members as more fully described in the Code of Ethics Key Points.  If you will be deemed to be a “Covered Associate” under HIMCO’s Pay to Play Policy, you will also need to disclose all political contributions that you have given within the past 2 calendar years.

Compensation

The listed annualized base pay range is primarily based on analysis of similar positions in the external market. Actual base pay could vary and may be above or below the listed range based on factors including but not limited to performance, proficiency and demonstration of competencies required for the role. The base pay is just one component of The Hartford’s total compensation package for employees. Other rewards may include short-term or annual bonuses, long-term incentives, and on-the-spot recognition. The annualized base pay range for this role is:

$0 - $0

Equal Opportunity Employer/Females/Minorities/Veterans/Disability/Sexual Orientation/Gender Identity or Expression/Religion/Age

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