Real Estate Officer or Sr. Real Estate Officer (Focus: Real Estate Funds and Co-Investments) (Columbus, Ohio or New York, New York)

STRS Ohio, STRS

The State Teachers Retirement System of Ohio (STRS Ohio) is seeking a Real Estate Officer or Senior Real Estate Officer for our International Real Estate Funds team.  This position reports to the Managing Director of International Real Estate.  The successful candidate will analyze investments, write recommendations, monitor and report on the fund and co-investment portfolio, and provide relevant data analysis with the Managing Director, contributing to maximizing the value of this STRS Ohio portfolio. 

STRS Ohio’s real estate fund portfolio has an international focus and is comprised of a diverse array of vetted value-add and opportunistic managers.  STRS Ohio’s investment returns for the one-, three-, five- and 10-year time periods ending June 30, 2022, ranked in the top 10% of Callan’s public fund sponsor database of more than 200 public funds. STRS Ohio also outperformed its benchmark for each of these time periods.

Established in 1920 and serving Ohio’s educators, STRS Ohio is one of the nation’s premier retirement systems serving over 500,000 active, inactive, and retired public-school teachers, and university faculty members, managing approximately $88 billion in assets and paying more than $7 billion in benefits annually.

STRS Ohio provides competitive pay and a comprehensive benefits package including on-site parking, educational assistance, subsidized medical insurance, fully paid dental and life insurance, vacation and sick leave, retirement benefits and on-site fitness center.  At STRS Ohio, you can experience rewarding work in a professional, business casual work environment that welcomes, celebrates, and promotes respect for everyone. We are continually seeking bright and talented individuals to join our team.

Compensation:
Salary: Competitive Pay 

Work Schedule:

Monday through Friday, daytime work schedule with occasional weekend and evening hours.  Travel may be 10-20% of work time.

Position Summary:

Assist the Managing Director, International Real Estate, in investment decision-making and ongoing monitoring and evaluation of the international and opportunity real estate investments portfolio.  Maximize the value of State Teachers Retirement System of Ohio (STRS Ohio) real estate fund’s portfolio by contributing to investment fund selection and oversight in conformance with established standards.

Responsibilities:

1. Analyze and write investment recommendations for the international real estate program, including fund investment and co-investment proposals, in coordination with managing director of international real estate. Primary emphasis is on contributing to due diligence process for portfolio of funds and co-investments. 
2. Contribute to monitoring and regular reporting on international real estate markets and the macroeconomic factors influencing the sector. As part of team, research and analyze sub-asset classes within real estate or specific geographic regions as basis for potential fund investments.
3. Provide data analysis and excel modeling for strategic portfolio reviews as part of team effort.
4. Participate in team meetings with fund principals and outside parties to assist in preparation of investment recommendations.
5. Monitor performance and strategies of third-party managers and contribute to reporting results of investments in the international real estate program, with responsibility for regular record keeping/administrative functions. With guidance, maintain various internal performance reports.
6. Review financial reports and other documents pertaining to real estate investments to ensure and verify accuracy of market values, cash flows, fees and expenses as reported, and conduct additional review as required, as part of team efforts.
7. Participate in negotiation of transaction-related legal documents in consultation with assigned legal counsel.

The above list of duties is intended to describe the general nature and level of work performed by persons assigned to this classification. It is not to be construed as an exhaustive list of duties performed by the persons so classified, nor is it intended to limit or modify the right of any supervisor to assign, direct and control the work of employees under supervision.

Requirements/Experience:

1. Bachelor's degree in business administration, economics, finance or other real estate related field required; Master’s degree is preferred.
2. Three to five years of institutional real estate experience with an emphasis on international private equity real estate and opportunistic/value-add fund investing preferred. 
3. Ability to understand the financial structure and terms of real estate investments through the analysis of operating statements, balance sheets, budgets and acquisition underwriting reports preferred.
4. Ability to use Microsoft Excel modeling skills to provide useful tools for portfolio analysis required.
5. Experience with discounted cash flow modeling and IRR analysis required.
6. Ability to research and analyze data and make valid conclusions required.
7. Experience with real estate performance reporting and benchmarking analysis preferred.
8. Excellent oral and written communication skills required.  High degree of accuracy and attention to detail required.