STRS OHIO, STRS

The State Teachers Retirement System of Ohio (STRS Ohio) is seeking a Real Estate Officer or Senior Real Estate Officer (San Francisco, CA) to join the Investment Department. STRS Ohio currently manages investment assets of $93.4 billion. Established in 1920 and serving more than 495,000 active, inactive and retired Ohio educators, STRS Ohio is one of the nation’s premier retirement systems providing retirement benefits, access to health care coverage and many other services to its membership. STRS Ohio is located in downtown Columbus, Ohio’s capital city and has real estate regional offices in New York, Chicago, Atlanta and San Francisco.

COMPENSATION & BENEFITS

Salary: Competitive

STRS Ohio provides a comprehensive benefits package including free on-site parking, education assistance, subsidized medical insurance, fully paid dental and life insurance, vacation and sick leave, retirement benefits and an on-site fitness center.

GENERAL SUMMARY:

Grade 311 - Under the direction of a real estate regional director with guidance from an assigned real estate portfolio leader, responsible for managing a portfolio of real estate properties, including equity properties and joint venture partnerships and making new investment recommendations based upon analysis of real estate proposals. Maximize the value of State Teachers Retirement System of Ohio (STRS Ohio) real estate investments by ensuring that properties are managed in conformance with established standards.

Grade 312 - Under the direction of a real estate regional director and with guidance from an assigned real estate portfolio leader, responsible for managing a portfolio of real estate properties, including equity properties and joint venture partnerships and making new investment recommendations based upon analysis of real estate proposals. Assist the regional director in coordinating and processing investment activities. Maximize the value of State Teachers Retirement System of Ohio (STRS Ohio) real estate investments by ensuring that properties are managed in conformance with established standards.

PRINCIPAL DUTIES AND RESPONSIBILITIES: Grade 311

1. Analyze real estate proposals to determine their suitability for investment. Primary emphasis is on financial analysis including lease-by-lease analysis, partnership modeling and analysis of leverage. Other duties may include evaluation of the developer, the specific site, area demographics and economic conditions.
2. Assist asset management director or senior asset management officer on under-performing properties. Provide analysis and make recommendations to improve their return.
3. Assist in monitoring compliance with negotiated agreements for joint ventures.
4. Make recommendations regarding operating goals for properties, monitor performance through budgets, monthly operating and financial statements, lease reviews and conduct periodic site inspections.
5. Develop real estate market knowledge for assigned geographical areas including market leasing and the potential for real estate investment.
6. Travel to market areas within assigned geographical area and specific project locations.

PRINCIPAL DUTIES AND RESPONSIBILITIES: Grade 312

1. Analyze and make recommendations on investment and management‑related decisions such as lease negotiations, mortgage re‑negotiations, property purchases/sales and capital improvement programs.
2. Establish operating goals for properties, monitor performance through budgets, monthly operating and financial statements, lease reviews and conduct periodic site inspections.
3. Function as trouble‑shooter on under-performing properties. Make recommendations and implement programs to improve their return.
4. Monitor compliance with negotiated agreements for participating mortgages and joint ventures.
5. Oversee and evaluate property managers' effectiveness. Participate in selection of property management firms.
6. Analyze real estate proposals to determine their suitability for investment, including evaluation of the developer, the specific site, area demographics and economic conditions, leasing conditions and financial projections. Make recommendations regarding investment in individual real estate properties.
7. Maintain contact with partners, developers, leasing agents, mortgage bankers and other real estate-related contacts in assigned geographical markets to track current information on lending and leasing rates and potential investments.
8. Travel to assigned geographical market areas and specific project locations when necessary to carry out position responsibilities.
9. Confer with attorneys and senior due diligence officer to prepare appropriate legal documents and to oversee the due diligence and closing processes.

Required Skills

KNOWLEDGE, SKILLS AND ABILITIES: Grade 311

1. Bachelor's degree in business administration, economics, finance or related field required.
2. Master's degree in business administration, economics, finance or related field preferred.
3. Three to five years’ relevant real estate experience preferred.
4. Proficiency in the use of Microsoft Excel and knowledge of Argus Enterprise real estate analysis software preferred.
5. Ability to understand the financial structure and terms of real estate investments through the analysis of joint venture agreements, operating statements, balance sheets, budgets and closing documents required.
6. Comprehensive knowledge of commercial leases required.
7. Excellent analytical skills required.
8. Ability to work with and preserve confidential information
9. Excellent oral and written communication skills
10. Interpersonal skills necessary to deal effectively and courteously with internal and external contacts
11. Excellent organizational skills and a high degree of accuracy and attention to detail
12. Proven ability to operate Microsoft Office programs and standard office equipment
13. Ability to work independently and in a team environment while meeting deadlines with minimal direct supervision required.
14. Excellent work record of attendance, punctuality and the ability to maintain a flexible work schedule to meet business needs. Occasional evening, weekend and non-regular work hours may be required.

KNOWLEDGE, SKILLS AND ABILITIES: Grade 312

1. Bachelor’s degree in business administration, economics, finance or related field required.
2. Master's degree in business administration, economics, finance or related field preferred
3. Five or more years’ relevant experience in managing larger and/or more complex institutional properties/portfolios.
4. Proficiency in the use of Microsoft Excel and knowledge of Argus Enterprise real estate analysis software preferred.
5. Ability to understand the financial structure and terms of real estate investments through the analysis of joint venture agreements, operating statements, balance sheets, budgets and closing documents required.
6. Comprehensive knowledge of commercial leases required.
7. Excellent analytical skills required.
8. Ability to work with and preserve confidential information required.
9. Excellent oral and written communication skills required.
10. Interpersonal skills necessary to deal effectively and courteously with internal and external contacts required.
11. Excellent organizational skills and a high degree of accuracy and attention to detail required.
12. Proven ability to operate Microsoft Office programs and standard office equipment required.
13. Ability to work independently and in a team environment while meeting deadlines with minimal direct supervision required.
14. Excellent work record of attendance, punctuality and the ability to maintain a flexible work schedule to meet business needs. Occasional evening, weekend and non-regular work hours may be required.

The above list of duties is intended to describe the general nature and level of work performed by persons assigned to this classification.  It is not to be construed as an exhaustive list of duties performed by the persons so classified, nor is it intended to limit or modify the right of any supervisor to assign, direct and control the work of employees under his/her supervision.               

Required Experience

KNOWLEDGE, SKILLS AND ABILITIES: Grade 311

1. Bachelor's degree in business administration, economics, finance or related field required.
2. Master's degree in business administration, economics, finance or related field preferred.
3. Three to five years’ relevant real estate experience preferred.
4. Proficiency in the use of Microsoft Excel and knowledge of Argus Enterprise real estate analysis software preferred.
5. Ability to understand the financial structure and terms of real estate investments through the analysis of joint venture agreements, operating statements, balance sheets, budgets and closing documents required.
6. Comprehensive knowledge of commercial leases required.
7. Excellent analytical skills required.
8. Ability to work with and preserve confidential information
9. Excellent oral and written communication skills
10. Interpersonal skills necessary to deal effectively and courteously with internal and external contacts
11. Excellent organizational skills and a high degree of accuracy and attention to detail
12. Proven ability to operate Microsoft Office programs and standard office equipment
13. Ability to work independently and in a team environment while meeting deadlines with minimal direct supervision required.
14. Excellent work record of attendance, punctuality and the ability to maintain a flexible work schedule to meet business needs. Occasional evening, weekend and non-regular work hours may be required.

KNOWLEDGE, SKILLS AND ABILITIES: Grade 312

1. Bachelor’s degree in business administration, economics, finance or related field required.
2. Master's degree in business administration, economics, finance or related field preferred
3. Five or more years’ relevant experience in managing larger and/or more complex institutional properties/portfolios.
4. Proficiency in the use of Microsoft Excel and knowledge of Argus Enterprise real estate analysis software preferred.
5. Ability to understand the financial structure and terms of real estate investments through the analysis of joint venture agreements, operating statements, balance sheets, budgets and closing documents required.
6. Comprehensive knowledge of commercial leases required.
7. Excellent analytical skills required.
8. Ability to work with and preserve confidential information required.
9. Excellent oral and written communication skills required.
10. Interpersonal skills necessary to deal effectively and courteously with internal and external contacts required.
11. Excellent organizational skills and a high degree of accuracy and attention to detail required.
12. Proven ability to operate Microsoft Office programs and standard office equipment required.
13. Ability to work independently and in a team environment while meeting deadlines with minimal direct supervision required.
14. Excellent work record of attendance, punctuality and the ability to maintain a flexible work schedule to meet business needs. Occasional evening, weekend and non-regular work hours may be required.

The above list of duties is intended to describe the general nature and level of work performed by persons assigned to this classification.  It is not to be construed as an exhaustive list of duties performed by the persons so classified, nor is it intended to limit or modify the right of any supervisor to assign, direct and control the work of employees under his/her supervision.