Portfolio Manager - Real Estate Investments - St. Paul, MN

Job Description

ATTENTION MILITARY AFFILIATED JOB SEEKERS - Our organization works with partner companies to source qualified talent for their open roles. The following position is available to Veterans, Transitioning Military, National Guard and Reserve Members, Military Spouses, Wounded Warriors, and their Caregivers. If you have the required skill set, education requirements, and experience, please click the submit button and follow the next steps. Unless specifically stated otherwise, this role is "On-Site" at the location detailed in the job post.

Taking care of our customers, our communities and each other. That's the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range

129,200.00 - $213,200.00

What Is the Opportunity?

Travelers' real estate investment portfolio consists of $3.5 billion of assets under management. It is spread across all major institutional property types and consists of direct investments that Travelers asset manages itself, and indirect investment where Travelers is a limited partner. Travelers invests in opportunities ranging from core to opportunistic risk profiles.

As the Portfolio Manager - Real Estate Investments you will play a key role on the portfolio management team. In this role you will work collaboratively with the Vice President of Portfolio Management and others to manage the acquisition / disposition process related to direct assets, the sourcing / closing of limited partner commitments, and the valuation and monitoring of assets and investments in the portfolio. You will be responsible for applying financial, qualitative, and quantitative analysis when conducting this work. The Portfolio Manager will report directly to the Vice President of Portfolio Management.

What Will You Do?

Review potential investment opportunities (for both direct assets and limited partner commitments) and initiate recommendations for selection and / or termination as appropriate.

Complete analytical reviews to evaluate the risk / return profile of an investment, most often using Net Present Value, Discounted Cash Flow, and Internal Rate of Return methodologies.

Analyze market trends (inventory, vacancy, absorption, new construction, comparable sales, etc.) for the subject property type. Maintain current knowledge of real estate capital markets, macro / microeconomic conditions, and property markets to best determine how these conditions impact or present opportunities for the portfolio.

Prepare investment memorandums related to property acquisitions / dispositions and limited partnership commitments. Manage the investment process including physical / financial / environmental property due diligence and documenting due diligence findings. Participate in the negotiation of legal documents related to investment transactions.

Collaborate with Vice President of Portfolio Management to continuously improve underwriting, due diligence, and investment processes.

Develop and maintain productive working relationships with internal team members and key external contacts to stay abreast of timely investment information and opportunities. Serve as a resource to real estate team providing insight as requested.

Manage documentation in support of recommendations made and maintain adequate sources of information on which to base analysis and recommendations. Conduct quarterly valuations of directly owned properties, and annually review external appraisals for logical approach to valuation.

Support the portfolio construction and analysis of limited partnership commitments.

Travel to existing properties and properties that are potential acquisitions.

Participate in industry organizations and events (e.g. Pension Real Estate Association, National Council of Real Estate Investment Fiduciaries, NAIOP, brokerage firm conferences / symposiums) and attend investment manager annual meetings, including any required travel.

Perform other duties as assigned.

Additional Qualifications / Responsibilities

What Will Our Ideal Candidate Have?

7 years of institutional commercial real estate investment experience in any of the following types of roles : portfolio management, acquisitions, dispositions, leasing, asset management, lending, investment sales, private equity fund investing, or investment banking. Or, MBA / MS with relevant work experience.

Experience investing across office, industrial, and retail property types.

Ability to defend investment recommendations and opinions to influence investment / portfolio decisions.

Understanding of property accounting and ability to understand property level financial statements.

Experience utilizing commercial real estate research tools such as CBRE Econometric Advisors.

Strong desire to take initiative and achieve goals with attention to detail and ability to communicate effectively.

Strong, effective written and oral communication skills, including presentation skills.

Excellent time management with short deadlines and analytical skills.

Ability to evaluate the risks / opportunities present in a forecast and communicate the drivers of those risks / opportunities.

What is a Must Have?

BA or BS in Real Estate, Finance, Accounting, Statistics, Economics, Mathematical Sciences, Engineering, Business, Data Analytics or related focus.

5 years of institutional commercial real estate investment experience in any of the following types of roles : portfolio management, acquisitions, dispositions, leasing, asset management, lending, investment sales, private equity fund investing, or investment banking.

Experience investing in one of the following property types : office, industrial, or retail property types.

Financial modeling experience in Argus Enterprise and Excel.

Knowledge of valuation techniques and performance metrics used in commercial real estate investing (Discounted Cash Flow, Net Present Value, Internal Rate of Return, Return on Investment, cap rate, physical / economic occupancy, etc.)

Salary : $129,200 - $213,200