Vice President, Asset Manager, Real Estate

Description

About this role

BlackRock Real Estate Equity

Within BlackRock equity private markets, BlackRock Real Estate Equity seeks to help clients access private real estate that could help meet their investment goals by providing a distinct range of well defined, outcome orientated strategies, along the investment risk-return spectrum. BlackRock Real Estate Equity, with AUM of US$22.7bn, manages over 500 properties across multiple sectors through Closed-end Value-add funds, Open-end Core Funds and via Separately Managed Accounts (“SMA’s”). The Real Estate business operates across Europe, Asia-Pacific and North America with a team of over 160 professionals in 16 offices across 12 countries.

Job Purpose/Background:
The APAC RE business currently manages AUM of US$5bn including through its flagship regional Value-add funds and the management of Asia Square Tower 1 in Singapore (the highest value property managed by BlackRock globally at US$3bn). The business has a team of 30 professionals in five offices managing c.100 properties in Australia, New Zealand, Japan, Singapore and China. As part of the APAC Real Estate team, this role will cover a broad range of duties and responsibilities, primarily being the asset management of physical real estate, with a focus on assets in Singapore. The scope of responsibilities includes the entire spectrum of real estate asset management including but not limited to analysis and execution of asset enhancement initiatives, leasing, property management, valuation, financial analysis/modelling, market research/analysis and internal & external reporting. This role will also be required to assist in technical due diligence of acquisitions and in divestments as and when needed.

Major Responsibilities:

- Represent BlackRock in the market as a reputable player of the highest integrity consistent with the Firm’s values
- Be a passionate student of the private equity real estate market, ensuring deep market understanding, knowledge, and participation
- Support the establishment and execution of annual asset plans for each asset under management
- Manage leasing agents, property managers, deployment of capital expenditure and drive the formation of leasing plans
- Support negotiations and relationship management with all internal and external stakeholders including operating partners, capital partners, lenders, professional services firms, tenants, customers and government authorities.
- Interface with other functions within BlackRock (Funds Management, Capital Transactions, Corporate Finance, Finance, Risk & Quantitative Analysis, Legal, Risk & Compliance, Company Secretarial)
- Investment reporting including: (i) External - separate account asset owners, capital partners, lenders and investors; and (ii) Internal - periodic asset management, fund management and investment committee meetings and reports
- Drive and share best practice for operational efficiencies between asset management and middle/back-office functions
- Maintain an up-to-date understanding of Singapore real estate market sectors, cycles and key performance drivers
- Source and provide research data supporting any update in key underwriting assumptions (market rents, growth rates, vacancies, operating expenses, capital values, yields / cap rates, tax, financing etc).
- Gain a full understanding of all the underwriting assumptions and testing these to optimize returns i.e., operating assumptions as well as capital structure and tax assumptions
- Preparation of accurate financial modelling, hold/sell analysis including sensitivity analyses to provide reliable, accurate actual/forecast investment returns
- Assist in technical due diligence in acquisitions and preparation of external marketing material and setting up and maintenance of data room in divestments
- Assist in the preparation of divestment/investment proposals and investment committee memorandums when needed

Experience, Skills & Knowledge Required:

- Ideally 7-10 years of direct real estate asset management experience at a top tier private equity real estate fund manager or similar
- Strong financial and commercial acumen backed by robust modelling skills
- Proficiency in a range of software packages such as Argus / Dyna, Yardi etc will be an added advantage
- Good written and verbal communication skills with close attention to detail
- Self-motivated, flexible on working hours when needed and ability to work independently and within tight deadlines
- Team player with good people management skills

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Our hybrid work model

BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the