Asset Manager, Real Estate Investments

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Position Summary:

As a Real Estate Asset Manager, you are experienced, forward-thinking and playing a critical role in overseeing and optimizing Aetna’s portfolio of (1) mortgage loans, (2) affordable housing equity investments and (3) support Investment Managers in managing active joint venture equity investments (JVs). 

You will be an integral member of Aetna’s Real Estate Investment team, reporting to the Head of Real Estate Investments with a strong alignment with a Senior Investment Manager focused on the affordable housing portfolio.  This team’s investment portfolio has grown significantly thus, the need to evolve and strengthen our asset management process and team depth.  You are central not only to managing the performance and risk of these investments but also to developing and refining the asset management functions that support all real estate investments.  

This role allows you to be involved in various critical functions including, but not limited to, (1) asset performance monitoring, (2) post-close risk management, (3) portfolio reporting and forecasting, and (6) new investment production support.  You will utilize internal proprietary technologies designed to enhance portfolio oversight, streamline reporting, improve data accuracy, and provide sharper insights across all real estate investments. You will work closely with Investment Managers and Aetna’s IT department to ensure all new technology software systems provide asset information to effectively manage the portfolio and deliver meaningful operational improvements.

This is an exciting opportunity to help shape an evolving asset management function within a dynamic, growing team — one that values integrity, precision, and innovation in every aspect of its work.  Your strong expertise in financial forecasting and reporting, property operations & asset valuation, fund-level investment management, along with a strong understanding and working knowledge of the affordable housing industry will contribute to your success.  You will also possess a collaborative approach, work ethic, task oriented and a continuous improvement mindset.

Additional Job Duties & Responsibilities:

Performance Monitoring:

Commercial Mortgages & JV Equity:

Manage a book of commercial mortgage loans, including monitoring property operations, complete an annual risk assessment including analyzing the financial results and preparing a valuation for each asset. Identify any weaknesses that may negatively impact loan repayment, as applicable. Finalize annual review by updating all data metrics, including final risk rating within Aetna’s mortgage information management system (MIMs).

Oversee loan document compliance including all reporting requirements from each borrower/property owner.

Affordable Housing:

Ensure that the quarterly and annual reporting provided by Syndicators is complete and delivered on-time in accordance with associated fund partnership agreements.

Review and analyze quarterly fund reporting, financial statements, and annual partnership tax documents to assess overall fund health and actual fund performance compared to expectations.

Review and assess AHIC risk ratings assigned by each Syndicator for each property within the LITHC portfolio, ensuring that such risk ratings are applied consistently and in accordance with AHIC guidelines and industry-accepted standards.

Coordinate quarterly asset management review meetings with each Syndicator to review the quarterly reporting for each Fund; participate in review meeting, ask pertinent questions for higher-risk assets including all action plans to effectively manage the operational issues and minimize the risk for each asset.

Post-Close Risk Management:

Commercial Mortgages & JV Equity:

Assist the Head of REI (or an Investment Manager) with high-risk loans including preemptive recommendations to minimize loan default and loan loss. If necessary, support efforts to restructure loan terms or foreclose, if required.

Ensure timely resolution of loan issues, such as loan maturities to produce loan repayments or negotiating loan modifications, extensions, and lease approvals.

Assist in preparing a Hold/Sale analysis for all JVs to determine the appropriate timing to recommend a property disposit