Vice President, Asset Manager, Real Estate
Singapore, SG
Investment Professionals – Investments
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 experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.
About BlackRock
At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.
This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.
For additional information on BlackRock, please visit @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock
BlackRock is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to age, disability, family status, gender identity, race, religion, sex, sexual orientation and other protected attributes at law.
Job requisition #
R241744
As a people-centric business, our long-term sustainability depends on our employees and culture. We have more than 16,000 employees in 35+ different countries who speak over 80 languages. We also serve millions of clients from different cultures around the world. We believe a wide range of perspectives and talent is crucial to creating a richer culture for our employees and a better experience for our clients.
Online Application
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Recruiter Conversation
If selected to move forward, you’ll have a high-level conversation with a recruiter to discuss the role in more detail and hear more about your experience and career aspirations who will determine if you’re a potential match.
In-person/Virtual Interviews
Selected candidates meet with members of the BlackRock team. There may be a couple of rounds of interviews, where you’ll have the opportunity to meet a mix of employees you’d be working with and gain a clear understanding of the role and our culture.
Offer
At the offer stage, we will present a total compensation package. All offers are subject to background checks and other pre-employment clearances.
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