Real Estate Senior Asset Manager

Real Estate Senior Asset Manager

About the Opportunity

Job Type: Permanent

Application Deadline: 31 January 2025

Title: Real Estate Senior Asset Manager

Department: Real Estate

Location: Kronberg / Frankfurt – Germany

Reports To: Head of European Asset Management

Level: Senior Manager

We’re proud to have been helping our clients build better financial futures for over 50 years. How have we achieved this? By working together – and supporting each other – all over the world. So, join our Real Estate team and feel like you’re part of something bigger.

About your team:

The real estate division of Fidelity International 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 continental Europe, the UK, Canada, and Asia. Current real estate AuM is in the region of €2.2 billion with around three quarters of that capital being deployed in continental Europe. The experienced team of fund managers, asset managers, transaction managers, research professionals, analysts, and operations professionals are based in five locations across Europe (London, Paris, Amsterdam, Frankfurt, and Luxembourg). The team has established strong performance track records and we are now building on this success by both growing our existing flagship funds and further developing the business through the launch of new funds, including funds focused on climate impact investing.

We are committed to sustainable investing and have firmly embedded sustainability in all steps of our investment process, from the time of acquisition, throughout the holding period and until disposition. We have set a range of sustainability targets and proactively engage with our tenants and suppliers to drive improvements.

About your role:

This position offers an exciting opportunity to join an established and successful team. Reporting directly to our Head of European Asset Management, who is based in Kronberg / Frankfurt and who has primary responsibility for real estate asset management across all Europe, you will embrace and thrive on the challenge of contributing to outperformance in the coming years. Your role will focus on actively managing German assets including value-add initiatives ranging from mid-scale refurbishments to large scale repositioning of commercial properties to improve financial and sustainability performance. The scope of the role may also include the management of new industrial development projects in close cooperation with external partners.

Key Responsibilities:

Asset Management

• Identifying and implementing opportunities for value and sustainability enhancement strategies: this includes exploring repositioning potential of the properties, co-ordinating redevelopment and refurbishment work, managing letting activities, lease negotiations and tenant fit-out and potential for improvement in the asset’s sustainability credentials.
• Development of individual sustainability measures for each asset to obtain and improve Green Building Certification (e.g. BREEAM), EPCs, etc., applying energy saving measures and management initiatives, reviewing measures for applying renewables/non-fossil energy solutions with solar panels, heat pumps, etc., engaging with tenants and suppliers; measuring against the net zero carbon pathway.
• Selection, assignment and oversight of relevant third parties such as property managers, technical and sustainability advisors, project managers, architects, letting brokers, marketing managers and lawyers.
• Inspecting assets regularly and building close relationships with our tenant base.
• Professional, active leasing and negotiation of rental agreements for commercial space and proactive tenant and roll-over management exploring value creation opportunities to meet both tenant needs and cash flow generation.
• Supporting in the execution of disinvestment strategies considering optimum life and market cycle timing to generate superior returns.
• Drafting, reviewing and updating business plans: carrying out cash flow and profitability analyses to support sensible decisions in relation to leasing and capital expenditures, especially when it comes to profitability of sustainability measures.
• Setting up and monitoring budgets for project works and reporting on progress.
• Reviewing service charge reconciliations and approving maintenance budgets including preparation and maintenance of refurbishment budgets and proforma analyses.
• Collecting and verifying property level data on financial and non-financial (e.g. ESG) data points.
• Ensuring proper analysis of project performance and reporting in terms of financial performance including ESG factors based on information from construction, leasing, ESG/sustainability experts and accounting.
• Preparing written recommendations and decision papers on asset management initiatives for internal committees.
• Writing and contributing to asset reports for boards and finance partners/banks.

Investment Support (acquisitions and dispositions)

• Working closely with the transaction management team during acquisitions and underwriting by analysing and exploring feasibility, risk of value and sustainability performance, including associated with re-development/re-positioning opportunities.
• Providing input on recommendations for purchases and sales regarding professional technical information required, especially with a view on reasonable, economic sustainability measures.
• Inputting on the review and evaluation of appropriate due diligence, including ESG audits and technical due diligence.
• Review of underwriting assumptions and contribution to business plan for each asset.

About you:

The successful candidate is likely to:

• have 5 to 10 years experience in commercial real estate asset management in Germany; residential real estate asset management and pan-European experience is an advantage.
• have hands-on experience of planning or co-ordinating asset refurbishment or asset repositioning projects; experience of energy saving measures would be beneficial.
• have a very good understanding of lease requirements and structures of tenants across sectors and general asset management market practices to add value and integrate sustainability for real estate assets.
• have a track-record in identifying and executing asset management initiatives to add value, stabilise cash flows and work towards an optimal exit within the predefined budget, time and quality targets.
• be familiar with sustainability concepts as they apply to real estate such as the Net Zero Carbon Pathway, EPC and Green Building certificates.
• have good working knowledge of relevant IT systems such as Microsoft Office and real estate specific accounting, valuation and financial modelling software such as ARGUS Enterprise and the ability to manage YARDI as the system used by the outsourced property managers.
• have experience of successfully managing third party property managers, technical and legal teams.

The successful individual will be:

• commercially minded and numerate, with an eye for detail.
• structured and methodical in their approach with the discipline to manage budgets and project programmes.
• open-minded and able to learn to keep the pace of the dynamics of the sustainability requirements for properties to generate new ideas.
• able to co-ordinate multi-disciplinary project teams, to a large extent independently with a “hands-on” mentality.
• fluent in German, preferably mother-tongue, and have a good command of the English language.

Feel rewarded:

For starters, we’ll offer you a comprehensive benefits package. We’ll value your wellbeing and support your development. And we’ll be as flexible as we can about where and when you work – finding a balance that works for all of us. It’s all part of our commitment to making you feel motivated by the work you do and happy to be part of our team. For more about our work, our approach to dynamic working and how you could build your future here, visit careers.fidelityinternational.com.

Please note we are committed to providing equal opportunities to all candidates, regardless of background, religion, sexual orientation or identity. We value diversity and strive to create an inclusive environment where every individual can thrive and contribute with their unique skills.

#J-18808-Ljbffr