Job Description:
The Role
The Director, Real Estate Asset Management will oversee the asset management of a growing portfolio of core and core-plus, institutional-quality, commercial real estate assets across geographies and product sectors. The role is focused on leading the strategy and value creation efforts in alignment with fund objectives. The Director will be responsible for onboarding new acquisitions, business plan formation and budget execution, tenant and broker relationship management, and capital project execution, among other responsibilities. Ideal candidates will have experience asset managing multiple property types in a fast-paced, collaborative environment.
Responsibilities:
Collaborate with cross-functional teams representing portfolio management, acquisitions, finance, legal, and capital formation to deliver on the performance objectives for each owned asset
Lead the annual budget and business plan formulation process for a given portfolio of assets; review monthly financial reporting and variance analyses
Participate in the selection and oversight of third-party property managers and leasing agents
Build critical tenant relationships and lead lease negotiations with support from legal
Evaluate capital projects through a risk-adjusted return lens and oversee, in conjunction with property managers, on-time and on-budget execution
Work with the acquisitions team on new acquisitions, providing critical perspective on underwriting assumptions, additional market knowledge, and connections to potential property managers and leasing brokers to confirm business plans
Consistently evaluate market conditions and asset performance to proactively manage risks and protect NOI
Manage regularly scheduled asset valuation, appraisal, and audit processes
Lead hold/sell and refinancing analyses
Monitor loan covenants, compliance and maturity profiles
Provide clear and timely communication to senior leadership team and alert them to potential deviations in asset performance
The Skills and Expertise You Bring
Bachelor’s degree required, MBA preferred
10+ years of commercial real estate experience, with the majority of time spent in an asset management role
Strong background in property operations, financial reporting, budgeting, leasing economics and tenant negotiations
Understanding of key legal documentation impacting real estate assets – tenant leases, property management agreements, joint venture agreements, loan agreements
Acquisitions experience is a plus
Demonstrated track record of managing multi-asset portfolios and making strategic recommendations with respect to unforeseen property issues and value-enhancing opportunities
Proficiency in Argus, Excel and Yardi Voyager
Note: Fidelity will not provide immigration sponsorship for this position
The Team
Fidelity Investments has established a team in Boston, Massachusetts to invest and manage direct real estate products for Fidelity’s clients. The team is currently overseeing three direct real estate investment strategies.
The base salary range for this position is $155,000 - $210,000 per year.Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.
Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.
We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted.
Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.