Real Estate Asset Manager

Real Estate Asset Manager

This position reports to the Director of Real Estate Investments and is responsible for managing and monitoring property investments.  As a key member of the investments department, the Real Estate Asset Manager will contribute knowledge and perspectives and will assist in the management of the overall real estate portfolio.

Key Attributes

• Strong commitment to APFC’s vision and its shared values of integrity, stewardship and passion
• Self-motivation and very strong sense of personal and professional integrity
• Intellectual curiosity and excellent attention to detail
• A belief that great outcomes come from great teams; a demonstrated ability to collaborate well in a small collaborative team environment

Principal Responsibilities

Perform regular and comprehensive due diligence; monitor, document and analyze property investments. 

• Evaluate property management and leasing teams at each property with a particular focus on leasing strategy.
• Oversee active asset management initiatives at all properties with a commitment to preserving and enhancing long term value. 
• Represent APFC ownership during the development phase of “build to core” projects including interfacing with: construction management team(s), external consultant(s), and real estate advisor(s).
• Establish and maintain external relationships with various development partners to ensure continuous pipeline of opportunities. 
• Perform quarterly site inspections at active construction projects.  Report progress and approve capital calls.
• Evaluate proposed term sheets with new development partners.  Recommend and negotiate market based fees/terms.
• Assist in the evaluation of external manager recommendations for operating budgets and multi-year capital programs.
• Recommend improvements to APFC real estate oversight to build efficiencies and effectiveness of overall program. 
• Develop and implement internal asset management capabilities for all APFC-owned “single tenant” properties and multi-family assets resulting from “build to core” activities.  
• Work to bring asset management activities of all APFC owned multi-family properties in house. 
• Assist in the management and oversight of all fund investment strategies. 

Required Qualifications

• Minimum of a Bachelor’s Degree in a business or related quantitative field.
  •  Advanced degrees are preferred
• Minimum of 5 years relevant professional experience, preferably in asset management. 
• Strong technical writing and effective presentation skills
• Exceptional critical thinking skills

Real Estate Overview

The Alaska Permanent Fund Corporations real estate portfolio is primarily direct ownership of real estate in the U.S. and Europe.  The real estate portfolio is invested in 100% ownership interests, as well as joint venture partnerships.  Some JVs are in 95%/5% structures or 50%/50% co-controlling interests in sizeable property investments. 

APFC Real Estate team looks for opportunities to control decision making from acquisition to final exit including execution of asset management decisions through the hiring of all key onsite teams, as well as external advisors with the aim of improving operational effectiveness and enhancing value. APFC has newly added three fund investment managers with European and Global property mandates. 

APFC currently allocates 11% of the total Fund to real estate assets.  The portfolio is currently underweight its target and is looking to expand its opportunity set by investing both domestically and internationally.  Some notable properties in our portfolio include Tysons Corner Center in McLean, Virginia and The Glades, located in the London Borough of Bromley.