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BlackRock Real Estate:
Manages over $28 billion in private real estate debt and equity in the U.S., Europe, Australia and Asia. Real estate investments span a wide range of strategies, including core, value-add and opportunistic equity and high-yield debt for a premier list of institutional and private investors.
This is an associate level position with responsibility for coordinating the architectural, engineering and construction aspects of work associated with real estate transactions and asset management and will report to BlackRock Realty’s Director of Architectural & Engineering. The position requires prior construction and/or engineering experience but does not require significant hands on experience.
Responsibilities:
Pursuant to specific policies and reporting formats established by BlackRock Realty, the A&E associate will assist in reviewing and implementing solutions for our transactions group and recommending practical, cost effective real estate investment programs and budgets from an architectural / engineering viewpoint. The form of investments will primarily include joint venture, development and equity acquisitions for all BlackRock accounts, including Multi-Housing. On a monthly basis, coordinate and summarize the most current property information, including construction activities, percentage of completion, change orders, problematic issues that can contribute to delays and costs overruns, and unique market dynamics in the construction industry. Development of a database to monitor and track costs associated with deficiencies noted during acquisition due diligence; identify key components of capital expenditures and to analyze and monitor repair costs over time, by region, and by systems; and to assist research in identify trends in construction for a variety of important materials such as steel, wood, petroleum related goods, and labor costs. Analyze and summarize key issues from engineering and environmental due diligence reports. Maintain a log of all upcoming closings and track sign-offs for due diligence. Maintaining adequate documentation of all A&E related activities in an organized file system. Providing supplemental due diligence support (as requested by Acquisitions Department to meet critical approval deadlines). Coordinate and disseminate information to third party vendors related to the systematic collection of acquisitions related property information, physical underwriting assumptions, development agreements, schedules, budgets, and closing deadlines. Track and recommend major third party vendors, such as construction managers, contractors, A&E design firms, environmental consultants and other related specialists. Ensuring that third party vendors and agents comply with all laws and mange such third-party relationships to minimize the risk of illegal acts being imputed to BlackRock. Supporting Asset Managers in assessing and documenting the cost-benefit of major property leasing and capital investment decisions. In special situations, providing input on design and construction management services for difficult, high profile projects.
Job Requirements:
Knowledge and Skills: This is an associate-level position within BlackRock’s Asset Management Department. The associate must be able to work in a fast pace setting, interfacing with asset management, acquisitions, and portfolio managers with minimal supervision.
Required skills include: interpersonal, communication and listening skills; ability to conduct cost / benefit and budget analyses; familiarity with A&E "best practices"; ability to analyze and understand construction contracts and vendor agreements. The associate must be well versed in the engineering and environmental due diligence, construction management, and development process, with a minimum of five years’ experience for all core property types and an architectural degree; Engineering and construction management degrees are less desirable, but acceptable. MBA is a must in addition to the minimum standards. Excellent interpersonal and communication skills.
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