Director Real Estate Asset Management

Realty Income Corporation; City Of London; On-site; GBP 80,000 - 100,000; Full time

Job summary

A leading real estate investment trust is looking for a Director of Asset Management in the UK to oversee a £3bn portfolio, develop client relationships, and implement asset management strategies. The ideal candidate will have extensive experience in real estate, strong negotiating skills, and a first-class undergraduate degree. This role offers significant opportunities for professional growth as the company expands its presence in the UK. The office is located at 3 St. James’s Square, reflecting the company's commitment to the region.

Qualifications

• Extensive relevant experience across retail warehouse and logistics sectors.
• Significant prior financial responsibility or accountability required.
• Thorough knowledge of commercial real estate principles.

Responsibilities

• Manage a diverse UK portfolio delivering client returns.
• Co-ordinate annual business planning and budgeting processes.
• Drive ESG initiatives across the property portfolio.

Skills

Real estate asset management experience

Negotiating skills

Communication skills

Technical analysis skills

Education

1st class honours Undergraduate degree

Tools

Excel

Job description

About Realty Income

Realty Income (NYSE : O), an S&P 500 company, is a real estate partner to the world's leading companies. Founded in 1969, we invest in diversified commercial real estate and have a portfolio of 15,600 properties in all 50 U.S. states, the UK and six other countries in Europe, with a gross book value $58bn. We are known as "The Monthly Dividend Company" and have a mission to deliver stockholders dependable monthly dividends that grow over time. Since our founding, we have declared 656 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats index, having increased our dividend for the last 30 consecutive years. You will be joining one of the largest Real Estate Investment Trusts in the world as we rapidly expand into the UK and European markets, including moving into new offices at 3 St. James’s Square. The European portfolio, including the UK, has experienced consistent growth quarter-on-quarter since our first international acquisition, a £429m 12-property portfolio from Sainsbury’s in 2019. In just five years the portfolio now includes investments of over $11bn, and 483 distinct properties. As we accelerate our expansion into the UK and European markets, the company is making significant investments in infrastructure and talent. Moving into new offices at 3 St. James’s Square signals the next phase of growth and commitment to the region. You will be joining the UK market leader in asset management, working with the most prestigious retail clients. You will be managing a growing portfolio c.$3bn with new assets being added, you will be able to assist with the development of the team and build enhanced client relationships and negotiation capabilities across a diverse UK and potential EU portfolio. This environment offers exceptional opportunities for professional development and career advancement as both the company and its portfolio continue to expand.

Position Overview

Director, Asset Management, UK (Director) partners closely with the Head of Asset Management and Value-Add Investment, UK, the broader asset management team, company leadership, and clients (i.e. tenants) to drive asset management strategies and outcomes, including enhancing tenancy, income, occupancy, and green initiatives across Realty Income’s industry-leading UK portfolio (~$10B today) that continues to grow quickly. The Director’s role is highly communicative and collaborative across multiple touchpoints daily, with departments across Realty Income and with many external clients, advisors, and vendors. The Director drives win-win relationships with our clients, deepening and broadening existing relationships while cultivating new ones.

Key Responsibilities

• Direct responsibility for delivering returns on a diverse UK portfolio*
• Direct responsibility for managing client relationships, including top 10 clients*
• Co-ordinate the Annual Business Planning Process for assets*
• Coordinate Annual Budgeting and Forecasting*
• Lead major portfolio discussions / deals – including analysis and presentations*
• Drive Client Service Team across multiple clients*
• Direct ESG Initiatives across the portfolio – including EV car charging, solar projects, SMART initiatives, and local community initiatives*
• Carry out lease renewals, rent reviews, lease regears, new lettings (including internal analysis and presentations, negotiating with clients, and working with Legal to transact deals) and keep the Head of AM & VA apprised of such activities*
• Manage monthly leasing meetings with leasing agents, planners, project managers, and property managers*
• Identify additive revenue opportunities through developments and commercialisation opportunities*
• Oversee (inc. managing planners, development / project managers, highways consultants, etc.) developments at our existing sites such as amalgamation works, existing tenant upsize & downsize projects, extensions, new units, drive-thru units*
• Meet regularly with local stakeholders of our assets and foster strong relationships (council representatives, adjacent owners, etc.)*
• Provide support to Value-Add transactions (for new purchases) where detailed business plans are required*
• Visits and meetings with retail clients to develop and enhance relationships, obtain company and real estate information concerning Clients’ future plans and needs*
• Validate and reconcile metrics for quarterly reporting requirements*
• Delegate tasks to analysts relating to research, review, analysis, evaluation, and preparation for negotiations and presentations*
• Review analysts’ work product and prepared materials (research, analysis, map packages, transaction memos, Client information, etc.).*
• Manage analysts and provide clear direction*
• Identify adjacent ownerships that can be acquired that will enhance the returns of our existing assets and liaise with the Investment Team

Organisational Relationships

Internal contacts:

• The Director must maintain productive relationships with numerous internal constituencies, including senior executives, Acquisitions, Asset Management, Capital Markets, Lease Administration, Portfolio Analytics, Predictive Analytics, Legal, Property Management, Research, Strategy, Development, and the Investment Committee.

External contacts:

• The Director must maintain productive relationships with numerous external constituencies, including real estate brokers, corporate client contacts, and third-party requestors.

Candidate Requirements Knowledge, Skills, and Abilities Must have for the role

• Extensive relevant real estate asset management experience across the retail warehouse and logistics sectors.
• 1st class honours Undergraduate degree
• Significant prior financial responsibility or accountability
• Experience across the disciplines of leasing, rent review & lease renewals, investment, development, valuation
• Thorough knowledge of commercial real estate principles; couple with strong technical analysis and IT skillsets including intermediate to advanced excel.
• Capability to manage people and resources effectively.
• Strong negotiating skills with the ability to impart salesmanship, be persuasive, and overcome objections.
• Excellent verbal and written communication skills; including the ability to present proposals, negotiate transactions and convey complex ideas, concepts, and recommendations to senior management.
• Ability to manage disagreements and point-of-view differences with Clients, Client-hired lease negotiators, Buyers, and other third-party requestors.
• Aptitude and ability to make effective decisions and present recommendations.
• Ability to multi-task in a fast-paced business environment and prioritise competing job demands.
• Ability to manage disagreements and point-of-view differences with Clients, Client-hired lease advisors, Buyers, and other third-party requestors.
• Strong critical-thinking abilities and innovative approach to the role.
• Aptitude and ability to make effective decisions and present recommendations.
• Establish, maintain and grow cooperative working relationships both internally and externally.
• Ability for occasional business travel required.

Our Mission & Values

For more than 50 years, Realty Income has been guided by our mission to invest in people and places to deliver dependable monthly dividends that increase over time. We do this by nurturing long-term, meaningful relationships that enable people to achieve a better financial outlook. We understand that when individuals succeed financially, they are able to provide for their families, support local businesses and pursue their greatest ambitions, creating a lasting positive impact on communities. Realty Income is committed to diversity and inclusion and welcomes all applicants regardless of age, disability, gender reassignment, marriage.