Real Estate Investment Transaction Manager
About the opportunity About Real Estate
Fidelity International has always believed it is in the best interests of its investors to be real specialists in the field of asset management. As the company is independent and privately owned, it has a substantial capital base established over several decades, enabling it to invest in long term strategies for the development of the business.
The real estate division was founded in 2006 and launched its first funds for institutional investors in 2008, since when it has attracted a range of blue-chip clients from the UK, continental Europe and Asia. Current real estate AuM is in the region of €2 billion with around two thirds of that capital being deployed in continental Europe.
The experienced team of fund managers, analysts and operations professionals are based in six locations across Europe (London, Paris, Amsterdam, Frankfurt, Munich and Luxembourg).
The team has established strong performance track records and our fund performance is consistently amongst the very best in each respective peer group over the short, medium and long term.
We are now building on this success by both growing our existing flagship funds, and further developing the business by launching new funds. There is a strong growth trajectory to our real estate business, and this will translate into increasing demand for transactional activity in our key markets, such as Germany. As a long-term investor, our goal is to be one of the major real estate fund managers in Europe. Purpose of the Role
This position offers an exciting opportunity to join an established and successful team. Reporting to the Director, European Real Estate, who has responsibility for real estate investment in Germany, the role will focus on real estate investment transactions in Germany, with a specialisation in the residential invest-ment sector and/or one or more of the following sectors: healthcare, life science, hotels, data centres
It is expected that you will source, analyse, negotiate, lead due diligence teams and successfully close-out transactions and on-board assets on behalf of Fidelity real estate funds active in the German market. Exper-ience in deploying bank debt, including the negotiation of loan contracts, will be essential. With a strong aware-ness of what drives future investment performance, you will need to show a good understanding of asset management issues and the needs of tenants. As our funds mature, we shall also expect you to lead the sales process and negotiation for asset disposals. Key Responsibilities
Investment (purchases and sales)
- Sourcing of real estate transactions (on and off market)
- Inspection, analysis, appraisal and pricing of potential investments (including developments) on a cash flow basis (Excel and Argus Enterprise), working with other team members
- Writing recommendations in English for purchases and sales
- Negotiating purchase contracts, contracts for forward commitments, etc.
- Appointing and managing professional advisers to conduct appropriate due diligence
- Bringing ESG awareness into the acquisition analysis, including engagement with ESG consultants
- Liaising with real estate banks to negotiate and secure third-party debt, where appropriate
- Identifying assets whose performance has peaked, carrying out appraisals and arranging for disposals
- Managing relationships with market players across Germany to improve deal flow and to boost Fide-lity's standing in the German real estate market
Asset Management Support
- Identifying opportunities for active management, exploring change of use potential and identifying ne-ces-sary refurbishment work
- Working closely with asset management colleagues and third-party advisers to maximise investment performance of assets
- Supporting the preparation and implementation of annual business plans for each asset
- Awareness of and supporting the implementation of ESG initiatives (e.g. GRESB) that lower the carbon footprint and improve the environmental rating of assets
Investment Strategy and Process
- Continuing to deliver outperformance and build on our excellent track record
- Contributing to market research by identifying market trends and developing market themes
- Helping to refine and continuously improve the investment and management process
- Providing written contributions in English to fund reports, including commentary on market trends and in-vestment pipeline
- Preparing written recommendations in English on investments and disinvestments for internal com-mittees and clients
- Presenting asset updates (e.g. on forward commitments or development projects) to internal com-mittees and external clients
Assisting in the Growth of the Business
Experience and Qualifications
- Networking within the real estate market
- Establishing relationships and negotiating arrangements for our funds (e.g. with third-party debt providers)
- Supporting capital raising and marketing initiatives, working alongside Fidelity's marketing specialists, and potentially involving client meetings, conducting market tours for clients etc.
About you About Fidelity International
- The successful candidate should already have 5 to 10 years' first-hand experience in real estate in-vestment acquisitions in Germany and be able to demonstrate a strong track-record. Additional exper-ience in another continental European market may be an advantage.
- Familiarity with the residential sector and/or other specialised sectors (such as hotels, healthcare, life science or data-centres) as well as an understanding of lease structures, landlord & tenant obligations and general market practices is essential.
- The candidate is likely to have been responsible for acquiring real estate for institutional core or core-plus funds. An established network of contacts in the business is expected.
- Strong understanding of asset management initiatives and how they can create added value for a fund, including for example refurbishments, lease surrenders, lettings and change of use is essential with a proven ability to identify and budget such asset management initiatives.
- Deep knowledge of investment valuation and appraisal techniques, including familiarity with RICS Red Book Standards.
- The candidate should have experience of negotiating loan contracts, know how mortgages are applied to real estate and be familiar with typical German finance terms and bank reporting requirements.
- The candidate will be motivated by the opportunity to take an important role in the growth of a fund management business.
- The candidate will have good working knowledge of all aspects of relevant IT systems (Microsoft Word, Excel and real estate-specific valuation and appraisal software such as Argus Enterprise or Yardi).
- The individual should be analytical and highly numerate, with an eye for detail, and a good under-stan-ding of real estate markets.
- The candidate should ideally be a university graduate and RICS qualified.
- The successful candidate will be a professional, innovative and confident individual who is com-mer-cially minded, proactive and driven by results.
- The individual must be an effective communicator and a collaborative team-player.
- The candidate will work collaboratively with colleagues in various areas of the business.
- The individual will be motivated by the long-term opportunities presented by this role and will be committed to growing professionally with the business.
- A high level of personal integrity and focus on the customer is essential.
- Good command of the English language (spoken and written) is essential. Proficiency in a third Euro-pean language could be an advantage.
Fidelity International offers investment solutions and services and retirement expertise to more than 2.5 million customers globally. As a privately-held, purpose-driven company with a 50-year heritage, we think generationally and invest for the long term. Operating in more than 25 locations and with $611.4 billion in total assets, our clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers and wealth managers, to private individuals.
Our Workplace & Personal Financial Health business provides individuals, advisers and employers with access to world-class investment choices, third-party solutions, administration services and pension guidance. Together with our Investment Solutions & Services business, we invest $471 billion on behalf of our clients. By combining our asset management expertise with our solutions for workplace and personal investing, we work together to build better financial futures.
Our clients come from all walks of life and so do we. We are proud of our inclusive culture and encourage applications from the widest mix of talent, whatever your age, gender, ethnicity, sexual orientation, gender identity, social background and more.
As a flexible employer, we trust our people to perform their role in the way that works best for them, our clients and our business. We are a disability-friendly company and would welcome a conversation with you if you feel you might benefit from any reasonable adjustments to perform to the best of your ability during the recruitment process and beyond. Data as at 30 September 2020. Read more at https://www.fidelityinternational.com/
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