Global Real Estate and Agricultural Investments maintain a portfolio invested in commercial real estate and agricultural mortgages, as well as real estate equities. Real Estate Investments sources and manages commercial real estate investments through seven regional field offices in the U.S. and International field offices in London, Tokyo, Mexico City and Santiago.
This role will be responsible for overseeing regional acquisitions for MetLife’s general account and third party investors. This includes analyzing and evaluating acquisitions and development opportunities for the Region. The portfolio includes office, retail, industrial, multi-family and hotels and strategies range from core to value and development/opportunistic. The role requires close interaction with MetLife Real Estate Portfolio Management, asset management, leasing, operations, and construction and accounting professionals working on related direct acquisition and/or joint venture equity assets.
Reporting directly to the DCRO MD, the Head of Acquisitions will manage a seasoned acquisitions associate and work closely with other regional peers, regional architects, and asset class strategists. This position will represent MetLife Real Estate in the Region, which includes direct external marketing of our investment products to the industry, as well as developing and maintaining long-term relationships with borrowers, brokers, partners, and key clients. This position will recommend buy, development, and sell decisions that directly impact net investment income.
- In coordination with the DCRO Managing Director, set strategic direction and oversee performance of the DCRO Acquisitions team
- Act as a key member of the acquisitions team driving establishment of MetLife’s industry leading equity real estate investment platform by establishing best in class acquisitions capabilities and effectively leading a regional acquisitions team
- Responsible for the underwriting, due diligence, acquiring and closing equity investments for the MetLife general account as well as third party investment accounts
- Responsible for the preparation of transaction approval memos including market research/trends to formulate underwriting assumptions
- Responsible for coordinating due diligence and coordination with asset managers during the closing/onboarding process including, tenant estoppel reviews, OFAC compliance, ARGUS audit, rent roll/lease verification, etc. as required in the closing process for the acquisition and development of real estate equity assets
- Interface with all parties involved in the acquisition due diligence and closing process, including internal as well as external partners such as portfolio management, regional architects, JV partners, asset & property managers, legal counsel, brokers, third party consultants and representatives of third-party investor accounts
- Present the transaction to investment committee
- Work cooperatively with portfolio managers, marketing and investor relations, and research in establishing appropriate acquisitions strategies and parameters
- Ensure acquisitions processes, including legal and due diligence, are efficient, prudent, and consistent with industry best practices
• Actively participate in industry functions and support MetLife’s favorable position as a leader in the marketplace; seek out leadership positions and speaking opportunities
• Participate in marketing / fundraising efforts, investor visits, quarterly investor meetings / webcasts, and annual investor meetings as needed in support of investor relations activities
• Manage the regional platform to ensure growth of assets and sustained optimal portfolio performance and net income growth for both the MetLife General Account as well as MIM client accounts
• Oversee a consistent investment process; guide and implement investment decisions to ensure appropriate risk/return outcomes
• Set and deliver best-in-class standards for client service in the Region to support future AUM growth through long-term relationship-building with borrowers, brokers and partners
• Source and vet investment opportunities through Regional Investment Committee and Equity Strategy Group Investment Committees to ensure quality control of investments, deal structures, and appropriate risk/return metrics
• Manage equity portfolio risk to maximize income potential and minimize credit losses, operating deficits, and income variances; proactively address potential loan problems and/or equity investment challenges to optimize economic outcome
• Mentor, develop and manage talent; ensure succession planning within the Regional Office
• Effectively lead staff in a manner that results in high productivity and performance; champion a culture of Continuous Improvement
• Reports to: Regional Managing Director
• Direct reports/team: 1
• Key Stakeholders: Regional Head of Acquisitions peers, Regional Architects, Equity Strategy Group, Risk, Research, & Analytics, Portfolio Management, Accounting, Finance, Legal
Essential Business Experience and Technical Skills:
• 12+ years of relevant experience, ideally with regional real estate investment leadership responsibility
• Deep expertise in equity real estate acquisition and asset management experience with track record of value enhancement
• Deep expertise in sector asset and portfolio management, including appreciation for ongoing risk management and relative value analysis
• Proven motivational leadership skills; track record of engaging, developing, and retaining top investment talent of diverse tenures
• Business and financial acumen
• Excellent written, oral, and presentation skills
• MBA, CFA, or equivalent experience preferred
• Excellent market knowledge, negotiation skills and the ability to execute
• Strong financial skill set
• Well-organized and team-oriented with strong work ethic
• Must be detail-oriented with strong time management/prioritization skills and ability to work independently is essential
- Thinks Strategically – Sets direction aligned to the company’s strategy, applying external and global perspective to meet local and global needs.
- Motivates People – Gains people commitment to achieve business objectives through clear communication of the company’s vision and flexing leadership styles to inspire high performance.
- Creates Partnerships – Authentically builds trusted relationships and collaborates across global, diverse and multi-functional teams to successfully drive business objectives.
- Seizes Opportunity – Seeks new opportunities and ways to create balanced business growth while improving operational capabilities.
- Grows Talent – Inclusively and pro-actively develops talent, empowers individuals and manages diverse teams to drive engagement and performance.
- Models our Values – Creates a culture that promotes the company’s values and standards through role modeling, accountability and ownership of decisions.
- Focuses on Customers – Promotes customer centricity and ensures focus on creating great customer experiences to achieve competitive advantage.
- Drives Results – Sets aggressive goals and is accountable for continuously driving improved performance, leading change and ensuring high standards.
- Business Development
- Investment Management
10+ to 15 years
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