Cigna Investment Management - Vice President, Real Estate - Acquisitions - Hybrid

Cigna Healthcare•Bloomfield, CT

33d•Hybrid

About The Position

Cigna Investment Management (CIM) manages over $20 billion in assets on behalf of Cigna, a publicly traded global health services company. CIM’s assets are invested in public bonds, private placement securities, commercial mortgages, real estate equity, mezzanine debt, private equity, equity securities, warrants, commercial paper, certificates of deposit, municipal securities, mutual fund shares, United States government securities, options contracts on securities, futures contracts on intangibles, money market funds, derivatives, structured notes, exchange traded funds and hedge funds. Cigna Realty Investors (CRI) is the real estate investment division of CIM. CRI’s mission is to be a boutique real estate investor focused on delivering superior long-term returns. CRI manages a diverse real estate portfolio ($5B of AUM) consisting of joint venture equity partnerships, third-party managed investments, high yield investments, and commercial mortgages. CRI is a relationship driven company focused on doubling its commitment to its equity and high yield businesses with an emphasis on apartment and industrial opportunities. The Vice President position, reporting to Acquisitions Managing Director, will be responsible for producing new equity and debt investments in assigned markets and partnering with CRI Asset Management & CRI Portfolio Management in actively monitoring and engaging in capital market transactions for CRI’s existing real estate portfolio.

Requirements

5+ years of institutional real estate investment experience
BA/BS in business, economics, finance, or other relevant field
Experience in generating new equity and debt investments across multiple property types, preferably industrial and apartments, in assigned markets
Broad market knowledge across multiple geographic regions is beneficial
Experience in negotiation and structuring of real estate documents including: operating agreements, purchase and sale contracts, development agreements and loan documents
Ability to solve problems and work in growth environment
Acts with a sense of urgency and takes ownership of assigned assets, markets, and relationships
Excellent written communication, verbal and analytical skills
Strong Excel skills; proficient in Microsoft Office applications
Demonstrated apartment and industrial expertise
Ability to work as part of a team
Problem solving and decision making skills
Prioritizes work load and meets deadlines; ability to multi-task between multiple capital markets transactions is desirable
Ability to travel frequently is needed for this position

Nice To Haves

MBA, CFA and/or other advanced business or investment designation is desirable

Responsibilities

Generate new equity and debt investments in assigned territories that meet Portfolio return objectives.
Independently negotiate, with advisement from manager, Mortgage Application, Loan Documents, Purchase & Sale Agreements and Joint Venture Documents to minimize liability to CIM.
Lead the preparation of credit materials and presentation to recommend equity and debt investments. Furthermore, recommend and present investment opportunities through the credit process.
Obtain necessary investment committee approvals and close recommended investments.
Own and coordinate all aspects of closing with internal and external business partners (accounting, legal, engineering and insurance). Meet deadlines and know the entire process.
Partner with CRI Asset Management team on underwriting of new investments and assist in all aspects of management of existing portfolio including business plans, valuations, sales, refinancing, and recapitalizations.
Price joint venture opportunities (unleveraged IRR). Know spot market pricing. Determine the best relative value in the marketplace.
Actively underwrite and quote mortgage business to determine market pricing for different credit risk profiles. To the extent necessary, structure credit enhancements to address lease-up risk, concentrated rollover or extensive property reposition strategy.
Ensure pipeline reports are updated.
Demonstrate broad knowledge across real estate industry and take ownership of assigned territories. Know demographic trends, market drivers, fundamentals, construction costs, values, and major owners/developers.
Continuously strive to expand real estate knowledge and expand skillset.
Travel to assigned territories. Be consistently prepared for deal discussion meetings, read distributed materials and identify mathematical errors, spellings mistakes, inconsistencies and compliance with Cigna underwriting guidelines, strategy and tactics.
Attend all Production Review meetings.
Support manager in the development and maintenance of relationships with key Partners, Borrowers, and Intermediaries.
Actively participate in Enterprise Improvement Initiatives and ad hoc special projects. Initiate enterprise improvements that add value, proactively create solutions that solve problems and take ownership of initiatives through implementation.
Provide training and development opportunities and empower analysts to take ownership. Share responsibility and accountability. Be a team player.