Investment Director - Asset Management, Industrial Real Estate (Chicago based)
About The Position
We’re looking for an Investment Director – Asset Management to join our Principal Real Estate team. As part of a dedicated Separate Account Team serving a 3rd party institutional client, you would be responsible for all aspects of investment management and investment production for an assigned private equity industrial real estate portfolio/geographic market. In addition to managing core operating assets, you would handle more challenging (value-add) asset assignments such as complex leasing transactions, property re-positioning activities, and development projects. Joint Venture partner relationship management, especially with local development partners Communicate to our client the attributes of each investment owned and market dynamics Review and present recommendations on new prospective industrial development, core and value-add acquisition transactions within appropriate risk/return parameters to the dedicated Portfolio Management Team, our client, and the internal Principal Real Estate Investment Committee Conduct due diligence, financial analysis, and prepare investment memoranda supporting new investments and dispositions Develop and maintain key relationships in the assigned markets with property managers, leasing agents, and investment sales brokers Understand and negotiate Joint Venture Operating Agreements, Development Management Agreements, Property Management Agreements, and Leasing Agreement Create annual asset business plans and budgets. Indirect management and development of an assigned analyst Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing about $580 billion in assets and over 60 years of experience. Principal Asset Management has been recognized as a “Best Places to Work in Money Management” for 13 consecutive years! Check us out at www.principalam.com!
Requirements
- Bachelor's degree in finance, economics, business or related field required; real estate emphasis preferred.
- 8+ years' experience in commercial real estate philosophies, policies, strategies and procedures (15+ years' preferred)
- 5+ years’ experience dealing with complex real estate transactions in a major market with significant industrial real estate focus
- Industrial asset management and development experience
- Knowledge of property valuation applications (Argus experience) and understanding of discounted cash flow analysis and land residual analysis
Nice To Haves
- Development management oversight, including experience working with development management agreements and reviewing draw requests
- Experience reading, interpreting and understanding contracts and other legal documents
- Strong oral/written communication skills, listening skills and negotiation skills (on the phone, in person and making presentations)
- MBA
- Demonstrated diplomacy and troubleshooting skills for use within the regional structure and with other internal functional areas
- Notable existing market contacts within the Industrial real estate industry
- Prior experience running effective meetings, displaying strong leadership and mentoring skills, and professionally and effectively interacting with others
- Must be able to travel 20-25% to markets, meet with owners, developers, brokers and other market participants and inspect properties. Also expected to travel to the global headquaters in Des Moines, IA at least once a quarter.
Responsibilities
- responsible for all aspects of investment management and investment production for an assigned private equity industrial real estate portfolio/geographic market
- managing core operating assets
- handle more challenging (value-add) asset assignments such as complex leasing transactions, property re-positioning activities, and development projects
- Joint Venture partner relationship management, especially with local development partners
- Communicate to our client the attributes of each investment owned and market dynamics
- Review and present recommendations on new prospective industrial development, core and value-add acquisition transactions within appropriate risk/return parameters to the dedicated Portfolio Management Team, our client, and the internal Principal Real Estate Investment Committee
- Conduct due diligence, financial analysis, and prepare investment memoranda supporting new investments and dispositions
- Develop and maintain key relationships in the assigned markets with property managers, leasing agents, and investment sales brokers
- Understand and negotiate Joint Venture Operating Agreements, Development Management Agreements, Property Management Agreements, and Leasing Agreement
- Create annual asset business plans and budgets
- Indirect management and development of an assigned analyst
Benefits
- Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
