Nuveen Investments Real Estate - Asset Manager Retail, Senior Associate or Director - Based in Madrid, Milan or Paris in Madrid, Spain
Job title: Retail Asset/Portfolio Manager (Neptune)
Reporting to: Head of Retail Southern Europe & Neptune FM
Department: Retail team
Nuveen is the investment management arm of TIAA. It is one of the largest global asset managers with specialist knowledge across a wide array of asset classes, including fixed income, equities and alternatives. Â Nuveen is driven not only by the independent investment processes across the firm, but also the insights, risk management, analytics and other tools and resources a truly world-class platform provides. As a global asset manager, our mission is to work in partnership with our clients to create outcome-focused solutions to help them secure their financial future. Â For more information about the firm please visit our website at www.Nuveen.com
Neptune is a joint venture established in 2014 between TIAA (Teachers Insurance and Annuity Association, parent company and GA of Nuveen Real Estate) and Neinver (family-owned Spanish outlet developer and operator). Nuveen Real Estate is Investment Advisor to the fund whilst Neinver is property manager.
The fund currently holds 15 retail (predominantly outlet) assets across Europe located in Spain, Italy, France, Poland, and the Netherlands. Total value is â¬1.3 billion and GLA totals 320,000 sq. m.Â
The Neptune team within Nuveen is also pan-European with asset managers located in Madrid, Milan, Paris and Vienna. The finance and company secretary teams are located in Luxembourg where the JV is also established. The fund manager and supporting departments (debt, GA team, research, legal etc) are located in London.
Overview of the role
The role of the asset manager is to be primarily responsible for setting and delivering asset management strategy for the Fund, and to take primary responsibility for selected assets within the Neptune joint venture. This is likely to span a few European countries as per the JVâs locations. This includes close monitoring of Neinver as property managing partner, approving annual business plans and being touch point for the assets to the fund manager and investors.Â
The role will combine asset management with reporting, valuations (together with fund analyst) and strategy. The joint venture has plans to develop extensions or new phases at the outlets and it is the asset managers responsibility to push these initiatives ahead. As the joint venture changes its focus, so to will the chosen asset manager be able to get more involved with digital and marketing strategy and building up ESG targets for the fund.
Main duties and responsibilities
â¢Â Â Â Working with Neinver to agree asset management strategy for the portfolio and for individual assets
â¢Â Â Â Monthly / bimonthly meetings and calls with Neinver and fund manager/fund analyst to discuss leasing and performance
â¢Â Â Â Quarterly investor reporting of asset results and strategy
â¢Â Â Â Oversight of annual asset business plans, determining targets and priorities
â¢Â Â Â Liaison with regional asset managersÂ
â¢Â Â Â Input for quarterly valuations, this is led by the fund analyst
â¢Â Â Â Preparation and presentation, with fund manager, of asset strategy for investors and internally at Nuveen
â¢Â Â Â Interaction and leadership with the other departments involved in Neptune: technology & innovation, research, legal, sustainability etc
â¢Â Â Â Any asset level obligations of Nuveen Real Estate as Investment Advisor of Neptune, fulfilling responsibilities in a timely and accurate manner
Technical skills and qualifications
â¢Â Â Â Proven experience in the real estate sector with strong retail-asset focussed background within a similar function/role
â¢Â Â Â High standards of written English and presentation
â¢Â Â Â Spanish and English language, knowledge of French would be considered as plus
â¢Â Â Â 3+ years of experienceÂ
â¢Â Â Â Strong presentation and communication skills, verbal and written
â¢Â Â Â Able to work in collaboration with cross-border teams and to also manage own tasks autonomously
â¢Â Â Â Experience in a pan-European asset management is preferred as is a background in retail property
â¢Â Â Â Leadership skills, both in terms of the team but also the strategic direction of the portfolio
â¢Â Â Â Enthusiastic, proactive and keen to work on own initiative as well as part of a team
â¢Â Â Â Methodical in reporting with the ability to present information clearly in writing and verbally
â¢Â Â Â Comfortable with regular international travel
â¢Â Â Â Good understanding in terms of tenant demand & performance
â¢Â Â Â Financial, analytical and modelling skills
â¢Â Â Â Strong communication and negotiation skills
â¢Â Â Â Good team player contributing to the success of Nuveen Real Estate (regular liaison with regional offices)
â¢Â Â Â Act in line with Nuveen Real Estateâs Company Values
Nuveen is the investment management arm of TIAA. It is one of the largest global asset managers with specialist knowledge across a wide array of asset classes, including fixed income, listed equities and alternatives.Â Nuveen is driven not only by the independent investment processes across the firm, but also the insights, risk management, analytics and other tools and resources a truly world-class platform provides. As a global asset manager, our mission is to work in partnership with our clients to create outcome-focused solutions to help them secure their financial future.Â For more information about the firm please visit our website at www.nuveen.com
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