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Director, Office, Nuveen Real Estate

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Investment Management
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Nuveen
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Company Overview:

 

Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Its affiliates offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies.

 

Nuveen Real Estate, an operating division of Nuveen, the asset management arm of TIAA, is one of the top five largest real estate investment managers in the world with over $126 billion in AUM. Managing a suite of over 80 funds and mandates spanning both debt and equity across diverse geographies, sectors, investment styles and vehicle types, we provide access to every aspect of real estate investing. With offices in 26 cities throughout the US, Europe and Asia-Pacific, over 500 professionals and over 80 years of investing experience, the platform offers impressive local expertise coupled with a sophisticated global perspective.


Our investment, asset management and corporate strategies grow from a deep understanding of the structural trends that we believe will shape the future of real estate and responsible investing beyond market cycles. This ‘Tomorrow’s World’ approach sits at the core of our investment process and business operations, informing our long-term view of real estate investments for the enduring benefit of both clients and society.  www.nuveen.com/realestate

 

Position Summary:

 

The Nuveen Office Sector Team has the responsibility for overseeing the financial, operational, leasing and capital matters for an office portfolio.  Asset Management works closely with Portfolio Management to execute fund mandates, including developing hold/sell analyses and executing corresponding strategy. Investments consist of wholly-owned real estate, as well as joint ventures and limited partnership investments. 


The Director will take a lead role in managing real estate across multiple office investments.  Applicants should have significant institutional office asset management experience and a good understanding of the office industry. 

This position will also have acquisition and disposition responsibilities, assisting in sourcing, evaluating and executing on real estate acquisitions and dispositions across multiple office property types and risk spectrums. 

The ideal candidate has demonstrated knowledge of real estate fundamentals, and can develop and implement strategies that will maximize the financial performance and value of the portfolio of assigned assets.   

The role requires an ambitious, motivated self-starter, to assist in growing the Boston and Midwest Office platform, and help establish a high performance team culture and workplace. 

Applicants should have deep and numerous relationships within the Boston real estate market, and have the ability to further develop, expand and maintain external relationships with key market participants, investment sales, leasing brokers and lenders.

Key Responsibilities: 

 

Asset Management Responsibilities

  • Oversee the financial, operational, leasing and capital matters for an office portfolio.

  • Direct third party service providers including property managers, brokers and developers for wholly-owned properties;  Engage with operating partners in joint venture structures

  • Participate in the timely production of reports that keep Senior Management and Corporate Governance apprised of changes in property fundamentals and competitive positioning.

  • Prepare and/or review annual asset business plans, operating budgets and capital budgets as well as monitor actual performance against these budgets throughout the year.  Produce annual sell/hold assessments and assist in presenting recommendations to Portfolio Management and third party investors.

  • Coordinate on a quarterly basis with internal and third party appraisers.

  • Present property activities and financial results to third party investors and Portfolio Management on a regular basis.

  • Review lease documents and be directly involved in negotiating terms.

  • Act as a resource to junior members of the team and provides mentoring support and guidance as a means of demonstrating leadership awareness

Acquisition Responsibilities

  • Develop external relationships with key market participants, investment sales, leasing brokers and lenders with emphasis on the Boston market.

  • Evaluate investments and investment returns based on discounted cash flows, return on cost, development spreads and third-party leverage.  Assure that financial, market and risk analyses are appropriate.

  • Present investment cases before clients and the Investment Committee and participate/lead related transaction team until deals are on boarded.

  • Maintain knowledge of fund investment strategies and work with the Head of Office Acquisitions in the execution of investment strategies.

 

Qualifications:

 

Required: 

  •  BA/BS in Accounting, Finance, Real Estate or related field
  • Minimum of 7 years of real estate asset management and/or transaction related experience, including soliciting, analyzing, negotiating, financing and acquiring commercial real estate in all property types            

Preferred: 

 

  •  Direct experience managing class A and B, primary market, institutional quality office assets.

  • Strong modeling and excel skills, as well as high level of knowledge of Argus DCF/Enterprise.

  • Possesses strong knowledge of commercial real estate, economics, finance, valuation, private equity, financing, accounting and legal structures.

  • Advanced analytical/reasoning skills to effectively and timely identify investment opportunities which meet the long and short-term goals of multiple investor clients.

  • Ability to operate independently in executing on a business plan as well as sourcing, underwriting and negotiating transactions.

  • Strong written and verbal presentation skills that are directed to internal and external clients.

  • Strong networking skills with current market network and knowledge

  • Experience making investment recommendations to senior investment professionals and/or investment committees and clients

  • Ability to work with a positive attitude in a team context and under pressure of tight deadlines, uncertain information and with limited resources; ability to manage time efficiently and to adapt to changing priorities and mandates


    Equal Employment Opportunity is not just the law, it’s our commitment. Read more about the Equal Employment Opportunity Law.

     

     

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    We are an Equal Opportunity/Affirmative Action Employer. We will consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other legally protected status.

     

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