What You'll DoWe’re looking for a Managing Director, Portfolio Management to join our Retail and Residential team. In this role, you’ll create, develop, and direct portfolio strategies to maximize the performance of the Real Estate portfolio in a manner consistent with a large institutional pension client!
- Strategic Planning: Create strategic initiatives for retail, residential, and mixed-use strategy. Includes outlining and demonstrating the structure to the client, senior management, and employees and implementing that strategy through downstream programmatic or one-off operating partners. Could involve the creation of various investment vehicles and structures to provide strong risk adjusted returns for the client. Will require the procurement and negotiation of agreements with various operating and institutional partners.
- Portfolio Management: Manage one of the larger and more complex portfolios. Direct the implementation of business plans. Review and approve proposed real estate transactions and financial decisions for underwriting consistency and capital customer requirements; consult on transaction structuring and pricing placing an emphasis on the impact to overall portfolio goals; and ensure appropriate risk management controls are implemented and monitored. Sit on and approve items on various management committees as a representative of the client.
- Valuation, Compliance & Reporting: Collaborate with internal/external valuation consultants to implement the valuation policy of all real estate in the portfolios. Assure consistency, theoretical rigor, and regulatory and external audit compliance. Direct the orderly and efficient preparation of clear and concise financial and statistical reports.
- Marketing: Represent Principal Real Estate Investors to the industry/market. Proactively develop relationships operating partners, brokers, and other market constituents. Maintain a working knowledge of the market and adapt the business to changes in the market environment.
- Staff Leadership & Development: Manage and develop real estate investment professionals to successfully execute investment strategies.
Operating at the intersection of financial services and technology, Principal builds financial tools that help our customers live better lives. We take pride in being a purpose-led firm, motivated by our mission to make financial security accessible to all. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years!
Principal Asset Management offers global asset management expertise across a diverse set of traditional and alternative asset classes.
Who You Are- Bachelor's degree in finance, business or related field; preferably real estate emphasis
- 15+ years of analytical commercial real estate experience, preferably in portfolio and asset management
- Experience in the technical and judicious review and approval of investment decisions (acquisitions, dispositions, development, financing, leasing)
Skills That Will Help You Stand Out
- Experience sourcing and/or managing joint ventures with third party operations
- MBA
- Exemplary leadership, organizational, interpersonal, listening, presentation, negotiation and communication skills (oral and written)
- Ability to work effectively in a deadline driven environment while handling multiple priorities
Requires frequent travel to tour investments/markets and meet with capital customers, institutional investors, and industry contacts.
Must maintain fiduciary role in accordance with client mandate and PFG policies.
Salary Range InformationSalary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.
Salary Range (Non-Exempt expressed as hourly; Exempt expressed as yearly)$205000 - $277000 / year
Time Off ProgramFlexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided.
Pension EligibleNo
Additional InformationLocation(s)
We’re open to considering in-office, remote, or hybrid talent. Employees on this team are located in Des Moines, Chicago, or work remote. Additional locations for hybrid talent could include Asset Management offices such as New York City, Seattle, or Charlotte.
Work Environments
This role offers the ability for in-office, remote, or hybrid (blending both office and remote work in a typical workweek) work arrangements. You’ll work with your leader to figure out which option may align best based on several factors.
Work Authorization/Sponsorship
At this time, we're not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc.
Investment Code of Ethics
For Principal Asset Management positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.
Principal is an Equal Opportunity Employer
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Posting WindowWe will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline.
Original Posting Date9/25/2024
Most Recently Posted Date9/25/2024
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