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Head of Real Estate Management & Advisory more...
Location:New York, NY
Company:Bessemer Trust
First posted:December 17, 2016 (last updated 30+ days ago)
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Head of Real Estate Management & Advisory

Job Description:

Bessemer Trust is a privately-owned and independent multifamily office that has served individuals and families of substantial wealth for more than 100 years.  Through comprehensive investment management, wealth planning and family office services, Bessemer helps clients achieve peace of mind for generations. The firm has 19 offices globally and oversees more than $120 billion in assets for over 2,400 clients.

We are currently searching for a Head of Real Estate Management & Advisory who will oversee a team of real estate professionals in three regional offices. The position involves spending a considerable amount of time on a regular basis in our offices in New York City and Woodbridge, New Jersey. Bessemer's clients rely on us as the industry leader in wealth management to provide highly customized solutions in a confidential setting to achieve their investment goals. The primary responsibilities will include managing all real estate assets held in trusts and estates where Bessemer serves as a fiduciary, as well as providing selected transaction advisory services to clients, as appropriate. Additional responsibilities will include assisting with business development efforts to prospective clients who own real estate assets and supporting our current client relationship platform in cooperation with our regional offices across the US.

Client Service:

  • Oversight of a portfolio of assets which can include residential single family homes, cooperative and condominium apartments, retail, industrial and office properties, net leased assets, ranches, timber and vacant land parcels.
  • Work with clients/co-fiduciaries to handle the sale of properties including conducting market due diligence, employment of real estate brokers and attorneys, establish pricing and negotiate terms of sale agreements.
  • Work with clients/co-fiduciaries to handle the acquisition of properties including conducting market due diligence, employment of third party firms for inspections and negotiate terms of purchase agreements.
  • Analysis of investment performance of real estate assets to determine whether to buy/hold/sell.
  • Travel throughout the US, as required, for up to 30% of the time.

Real Estate Management & Administration: Work may include -

  • Analyze financial feasibility of capital projects.
  • Oversee capital improvement and repair projects including employment of architects, attorneys, engineers and general contractors, monitoring construction progress and authorizing final approval upon completion.
  • Negotiate lease agreements with residential and commercial tenants and monitor compliance with lease terms including rent payments, Consumer Price Index increases, client account management payments, real estate tax payments, maintenance of appropriate insurance and upkeep and maintenance covenants.
  • Work closely with operations team to ensure efficiency in all departmental transactions. 
  • Employment and direction of third party property management firms and review of monthly and annual financial statements including income & expense statements, rent rolls, budgets and cash flow statements.
  • Conduct annual reviews, appraisals and annual physical inspections of properties as required by OCC and Federal Reserve.

Compliance Responsibilities:

  • Supervise preparation of presentations to the officers' committees
  • Manage the interaction with auditors and participate in the audit process

Knowledge and Experience Required:

  • Extensive background analyzing real estate investment opportunities and managing different forms of real estate ownership, types of interests and documentation including deeds, title reports, leases and contracts.
  • Proven experience managing and executing real estate transactions, including expertise with commercial real estate transactions.
  • Trust and estate administration experience essential; knowledge of fiduciary laws and policies highly desirable; real estate financial advisory expertise desirable.
  • Expertise with appraisal and valuation concepts and financial analysis including net present value, internal rate of return, discounted cash flow and mortgage amortization.

Qualifications and Skills:

  • Bachelor's degree, and JD or MBA (strongly preferred) 
  • Minimum of 15 years of professional experience in the real estate industry required, including responsibility managing properties and executing sales and/or acquisitions.
  • Exceptional organizational skills with demonstrated leadership and teamwork qualities.
  • Self-motivated, able to work independently and handle multiple tasks.
  • Strong proficiency with Excel, Word, and PowerPoint; experience with real estate specific software essential.

See job description.

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