The Asset Manager manages a portfolio of real estate assets on behalf of individuals or legal entities. Reporting to the Director of Investments or Asset Management (Portfolio Manager), the Asset Manager must implement all means to achieve the asset valuation objectives defined by Management through effective rental, technical and financial management. Superior in finance ideally complemented by a specialization in real estate (ICH, RICS, DESS or Master in Real Estate Management ....).
Role and missions of the asset manager
The Asset Manager gathers and knows all the real estate, legal, financial and technical information concerning the buildings for which he is responsible,
They draws up the business plan for each building and ensures that it is respected and gives budgetary guidelines,
It provides reporting of its activity to the owner (these reports are mainly done in English for foreign funds),
It analyzes the performance of buildings (IRR, ..) and takes arbitration decisions (asset sales) then implements them,
They manages, in conjunction with all the teams concerned and external stakeholders (Notaries, Marketers, Experts, etc.), the sale of arbitrated buildings,
They listens to investment opportunities; for this, it must ensure a quality relationship with all contacts likely to "source deals": agents, institutions, property management companies and funds ...,
They carries out performance studies of investment projects with the support of his Analyst,
They prepares and presents the files to the investment committees,
They coordinates due diligence procedures (notaries, law firms, and other external advisers),
They handle negotiations and finalize acquisitions/disposals.
Training and career paths - the asset manager profile
Journey
There are wide choices for Asset Management jobs: From a Consulting Firm, Property Management, Investment Company, Marketer (expertise or investment department), or Bank.
Evolution
Take responsibility for an Investment department within a property company or an Institutional Investor, or even the Management of an Investment department at a marketer. In the medium / long term, a logical evolution would be the orientation towards the real estate management of an owner/user in order to act directly on his real estate strategy.
Training to be a real estate asset manager
To exercise the profession of real estate asset manager, you must have a higher diploma acquired in a business school.
You must also have a master's degree in wealth management, a master's degree in management and strategy in real estate investment and construction.
Skills to be a Real Estate Asset Manager
The real estate asset manager must have good analytical and synthesis skills. In addition, he must have an excellent general culture in economics and finance.
To apply to Asset Management jobs you must also have business acumen and a taste for negotiation. Finally, he must be persuasive to convince customers.