The Role: Reporting directly to the SFRO MD, the Head of Acquisitions will manage a team 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 SFRO Managing Director and Acquisitions Team Lead, execute and set strategic direction and oversee performance for the SFRO 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
Essential Business Experience and Technical Skills:
- 10+ years of relevant experience, ideally with regional real estate investment responsibility
- Deep expertise in equity real estate acquisition experience with track record of value enhancement
- Business and financial acumen
- Excellent written, oral, and presentation skills
- 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.
- Undergraduate degree required; MBA, CFA, or equivalent experience preferred
- Ability to travel 30-50%
Source: MetLife Real Estate Career Page
About MetLife Real Estate Investments
Metlife has been investing in real estate since 1878. As a mortgage lender, real estate developer, and owner, MetLife's real estate division manages over $70 billion (as of 12.31.16) of real estate debt and equity investments. These include MetLife general account assets as well as assets managed by MetLife on behalf of third-party investor clients. The breakdown of debt investments to equity investments is $51.8 billion in commercial mortgage loans and $18.6 billion in real estate equity investments.
MetLife's Real Estate Group is headquartered in Whippany, NY with regional offices across the world. The group has 150 real estate professionals strategically placed in U.S. offices in Atlanta, Chicago, Dallas, Los Angeles, Morristown NJ, San Francisco, and Washington DC. as well as in international offices located in London England, Mexico City Mexico, Santiago Chile, and Tokyo Japan. The MetLife senior leadership averages 25 years of real estate experience, 23 years of which with MetLife.