Real Estate Equity Associate-Asset & Portfolio Management
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We are seeking an Associate to join the Real Estate Equity Group to focus on Asset and Portfolio Management. This is not a typical real estate asset management associate role, as roles are broad and dynamic in Allstate’s Real Estate Equity group. Our approach is strategic and relationship-driven with a long-term view that includes investing in all property types domestically and globally using multiple structures including Commingled Funds, Co-Investments, Joint Ventures and Directs versus simple execution of property acquisitions. To be successful, the Associate will need to be a strategic thinker, self-starter with a strong work ethic, willing to wear multiple hats, and have a desire to be an integral part of a team.
Through this role, you have an opportunity to be part of a small team that employs an innovative and highly successful business model, working in close collaboration with their capital and operating partners. Key critical areas of focus include devoting substantial energy to support senior team members in analyzing our existing portfolio to maximize financial returns and performance.
Property type focus will be diverse including office, warehouse/distribution, retail, multifamily and other alternative property sectors. Geographic focus is generally major markets in the U.S. but may include select non-U.S. markets. The position is based in Allstate’s corporate headquarters in Northbrook, IL and will require some travel.
Responsibilities will include:
- Develop and maintain good relationships with asset managers at operating partners. Attend regular asset management meetings/conference calls, track major developments in leasing and asset renovation projects. Review items that require Allstate’s approval such as major commercial leases, major capital projects, and revisions to business plans, and provide recommendation utilizing financial analysis to senior leadership.
- Conduct updated asset valuation models using Excel and Argus. Review market data and projections and asset performance to create independent assessment of asset value on go-forward basis.
- Lead and oversee annual business plan process, hold-sell process, and quarterly asset management operating performance tracking reporting. Review and update formats as needed, create timeline for each project with interim milestones to meet final due dates, communicate any updates and due dates to team.
- Review and complete business plans, hold-sell analysis (utilizing valuation modeling), and quarterly operating performance reports for portion of directly-held assets in portfolio.
- Conduct financial analysis on assets Allstate is considering selling. Track asset sale process with our managing partner.
- Oversee migration of asset management data from excel-based system to recently selected web-based asset management portal program.
- Perform annual visits to a portion of assets in portfolio.
- Review third party asset appraisals for accuracy.
- Other duties as assigned.
- Strong project management skills, good organization and process management abilities.
- Ability to assess and underwrite an array of commercial real estate assets.
- Asset management experience is required
The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.
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As a Fortune 100 company and industry leader, we provide a competitive salary – but that’s just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you’ll have access to a wide variety of programs to help you balance your work and personal life — including a generous paid time off policy.
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Allstate generally does not sponsor individuals for employment-based visas for this position.
Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.
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