Director - Asset Management

Overview

Hines has a holistic approach to real estate investment management that allies sophisticated trend analysis, deep local market knowledge and unrivalled operational expertise. The firm currently has 36 active strategic investment vehicles globally managing capital for over 300 institutional investors as well as 700+ HNWIs and 170,000 retail investors.

With a European headquarter in London, the firm operates from 18 offices across the region. Hines Italy is a permanently established business and part of Hines Europe, having been active in the Italian market for more than a decade. It has built a substantial presence across the country with office in Milan but projects spread different cities like Florence, Rome and Bologna. The platform is invested across a broad range of sectors including office, residential, logistics, mixed-use and retail through Hines-sponsored funds, separate accounts, joint ventures and the Hines balance sheet. Hines Italy continues to actively expand its portfolio through acquisitions, developments and strategic repositioning opportunities, while also focusing on operational enhancement and value creation across existing investments. The Italian platform is organized across its core business functions, including Acquisitions, Asset Management & Management Services, Development and Finance.

Responsibilities

Hines is seeking to appoint a Director of Asset Management to join the firms Milan office. Reporting to Davide Calcaterra, Managing Director, Head of Asset Management and Management Services for Italy. This role is a critical part of the Asset Management team for all new acquisitions and existing assets across product types in Italy.

This person will be part of the team responsible for overseeing a diversified real estate portfolio of c. € 8.0 billion, including assets for which Hines performs a fiduciary role plus assets where Hines is a third-party fee only manager in an asset &/or property manager capacity.

• Oversee creation of annual property business plans for each asset; perform market analysis and work with internal and external functions to develop leasing objectives, operating and financial budgets, and capital/renovation/repositioning project plans.

• Manage risk at all stages of the investment lifecycle – from acquisition and development through to stabilisation and exit – identifying potential vulnerabilities and implementing mitigation strategies.

• Manage the leasing activity of certain properties to include leasing agent selection and management rent setting strategy, commercial lease analyses, drafting proposals, negotiating economic/legal terms, and working closely with legal counsel in review of lease documents; review and approve all applicable authorisations and lease documents prior to ownership execution.

• Review and approve pricing for capital/tenant improvement projects and contracting, then ensure that financial controls are in place during construction, including capital draw procedures.

• Understand the current value and projected future performance of each asset and what property specific factors impact values; develop hold/sell recommendation in accordance with owner’s investment thesis; manage Analysts and Accounting teams to develop and maintain property discounted cashflow models and sensitivities, (e.g. Argus, Excel,).

• Facilitate broker selections, negotiate transaction documents for dispositions, manage the disposal closing process.

• Provide leadership and oversight for all aspects of property performance for the existing portfolio.

• Help in the management of the asset management team and work with property level teams to develop short- and long-term strategies designed to maximise financial value and occupier satisfaction of each asset.

• Collaborate with and challenge internal / external teams and operating partners, fostering a culture of accountability, transparency, and performance enhancement.

• Grow and elevate the team and be a mentor to younger employees.

• Support Acquisitions/Development functions by reviewing legal documents including purchase agreements, loan documents, conduct/coordinate due diligence.

• Interest in AI and its use in day-to-day management to ensure efficiency and effectiveness. The freed-up time should be used to improve quality and service.

Qualifications

Minimum Requirement include:

• Bachelor's degree from an accredited institution required.).

• MBA or Masters in Real Estate preferred.

• Eight or more years of real estate asset management experience.

• Experience leading/managing a team and mentoring team members.

• Supplemental experience in acquisitions, leas