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.

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