Real Estate Asset Manager
About the opportunity
Fidelity International has always believed it is in the best interests of its investors to be real specialists in the field of asset management. As the company is independent and privately owned, it has a substantial capital base established over several decades, enabling it to invest in long term strategies for the development of the business.
The real estate division was founded in 2006 and launched its first funds for institutional investors in 2008, since when it has attracted a range of blue-chip clients from the UK, continental Europe and Asia. Current real estate AuM is in the region of €2 billion with around two thirds of that capital being deployed in continental Europe. The experienced team of fund managers, analysts and operations professionals are based in six locations across Europe (London, Paris, Amsterdam, Frankfurt, Munich and Luxembourg). The team has established strong performance track records (our fund performance is consistently amongst the very best in each respective peer group over the short, medium and long term) and we are now building on this success by both growing our existing flagship funds, and further developing the business by launching new funds. There is
a strong growth trajectory to our real estate business, and this will translate into increasing demand for asset management in our key markets, such as The Netherlands. As a long-term investor, our goal is to be one of the major real estate fund managers in Europe. Purpose of the Role
This position offers an exciting opportunity to join an established and successful team. Reporting directly to our Head of European Real Estate Asset Management, who is based in Munich and who has primary responsibility for asset management across all continental Europe, you will embrace and thrive on the challenge of contributing to outperformance in the coming years. Your role will focus on asset management,
and you should enjoy contributing equally to sustainability initiatives and to the investment process in general. You will be responsible for the management of commercial assets and their tenants in our two established real estate funds active in France (6 properties), Luxemburg (3 properties) and Belgium (1 property)in the office, retail, and light industrial sector. We expect the French portfolio to grow substantially in the next few years. Key Responsibilities
- Identifying and implementing opportunities for active management including negotiating terms with tenants and potential tenants, exploring change of use potential and undertaking refurbishment work
- Identifying and implementing opportunities for sustainability initiatives such as reducing energy consumption, water use and waste, negotiating "green" lease clauses, engaging with tenants and with the local community to further this cause, etc.
- Managing new lettings and lease renewals, both legal and financial
- Actively managing strategic tenant relationships
- Engage with tenants to answer any question about their accommodation and provide excellent service
- Maximising income and managing property level costs for let and vacant units
- Liaising with and overseeing relevant third parties such as property managers, technical advisors, brokers, marketing managers and lawyers
- Preparing and implementing of annual business plans for each asset
- Inspecting assets regularly
- Taking ownership of (i.e. providing, regularly reviewing and, if necessary, correcting) the "Golden Source" data for the assets
Investment Support (purchases and sales)
- Inspecting, analysing and appraising of potential investments (including developments) on a cash flow basis, working with other team members
- Providing professional, technical input on recommendations for purchases and sales
- Assisting in instructing, reviewing and evaluating appropriate due diligence, including ESG Audits and technical due diligence
- Contributing to budgeting an appropriate business plan for each asset that is to be acquired
- Identifying assets whose performance has peaked, carrying out appraisals and arranging for disposals
- Providing written contributions in English to fund reports, including commentary on asset management
- Where necessary, writing or contributing to reports to financing banks
- Reviewing and updating business plans for individual assets
- Preparing written recommendations in English on ad hoc asset management initiatives for internal committees and clients
- Presenting asset updates in English to internal committees and external clients
- Review service charge reconciliation and maintenance budgets
Assisting in the Growth of the Business
About you Experience and Qualifications
- Networking within the real estate market
- Establishing relationships and negotiating arrangements for our funds
- Supporting capital raising and marketing initiatives, working alongside Fidelity's marketing specialists, and potentially involving client meetings, conducting market tours for clients etc.
About Fidelity International
- The successful candidate should, ideally, possess a relevant academic degree (like Real Estate & Finance or Economics).
- The candidate should already have c. 5 to 10 years' experience in real estate asset management, with an understanding of how individual assets contribute to portfolio risk and performance.
- The candidate is likely to have been responsible for managing real estate for a French or European core or core-plus fund.
- Familiarity with the main commercial use classes (office, retail and industrial/logistics) as well as an understanding of lease structures, landlord & tenant obligations and general market practices is essential.
- Experience of asset management, including for example refurbishments, lettings and change of use is essential with a proven ability to identify, negotiate and execute asset management initiatives.
- Familiarity with sustainability concepts as they apply to real estate and the urban environment, including experience with GRESB and with specific initiatives to improve a fund's GRESB score would be beneficial.
- Some experience of investment and valuation would be beneficial.
- The candidate will be motivated by the opportunity to play a role in the growth of a fund management business.
- The candidate will have good working knowledge of all aspects of relevant IT systems (Microsoft Office, real estate specific management and accounting software such as YARDI, and real estate-specific valuation & appraisal software such as Argus Enterprise).
- RICS qualified or be willing to work towards this.
- The individual should be analytical and highly numerate, with an eye for detail, and a good understanding of the French real estate market.
- Professional, confident individual who is commercially-minded, proactive and driven by results.
- Pragmatic, flexible and "hands-on" and able to work effectively in a small team. The successful candidate must be able to work to a large extent independently and in a structured manner such that they are able to manage a number of assets efficiently and in parallel.
- Ability to work efficiently with colleagues in various business areas and geographies.
- The candidate is a strong communicator and negotiator.
- Motivated by the long-term opportunities presented by this role and will be committed to growing professionally with the business.
- A high level of personal integrity and focus on the customer is essential.
- Excellent command of the French language is a prerequisite (preferably mother-tongue), and good command of the English language (spoken and written) is important..
Fidelity International offers investment solutions and services and retirement expertise to more than 2.5 million customers globally. As a privately held, purpose-driven company with a 50-year heritage, we think generationally and invest for the long term. Operating in more than 25 countries and with $739.9 billion in total assets, our clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers and wealth managers, to private individuals.
Our Workplace & Personal Financial Health business provides individuals, advisers and employers with access to world-class investment choices, third-party solutions, administration services and pension guidance. Together with our Investment Solutions & Services business, we invest $567 billion on behalf of our clients. By combining our asset management expertise with our solutions for workplace and personal investing, we work together to build better financial futures.
Our clients come from all walks of life and so do we. We are proud of our inclusive culture and encourage applications from the widest mix of talent, whatever your age, gender, ethnicity, sexual orientation, gender identity, social background and more.
As a flexible employer, we trust our people to perform their role in the way that works best for them, our clients and our business. We are a disability-friendly company and would welcome a conversation with you if you feel you might benefit from any reasonable adjustments to perform to the best of your ability during the recruitment process and beyond. Data as at 31 March 2021. Read more at https://www.fidelityinternational.com/
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