Head of Real Estate Asset Management

Goldman Sachs Alternatives

A career with Goldman Sachs Asset Management offers a unique opportunity to assist clients worldwide in realizing their potential while simultaneously discovering your own.

As a part of one of the premier asset management firms globally, you will engage in thrilling investment opportunities, collaborating with skilled colleagues across various asset classes and regions, while fostering meaningful relationships with clients.

In a culture that prioritizes integrity and transparency, you will join a diverse team that is dedicated to our craft, our clients, and the pursuit of sustainable success.

Goldman Sachs stands as a leading investor in alternatives worldwide, investing across a comprehensive range of alternatives, including private equity, growth equity, private credit, real estate, infrastructure, hedge funds, and sustainability initiatives.

Clients can access these solutions through direct strategies, tailored partnerships, and open-architecture programs. The alternatives investment platform is a component of Goldman Sachs Asset Management, which provides investment and advisory services across public and private markets for leading institutions, financial advisors, and individuals.

With over $2.8 trillion in assets under supervision globally, Goldman Sachs is well-positioned in the investment landscape.

The Role
We operate as a unified global real estate team with a rich history of three decades in investing through various market cycles. Our approach leverages established best practices, team expertise, and market insights to deliver investment and asset management services.

Managing over $50 billion in assets under supervision, our global team invests across all sectors, possessing deep expertise across the capital structure, encompassing assets from individual properties to extensive portfolios and portfolio companies, utilizing senior mortgages, mezzanine debt, and equity.

The current real estate investment strategy emphasizes achieving primarily opportunistic and value-add risk-return profiles, with plans to expand into core and core-plus investments.

Actively managed real estate investments, where the firm holds majority equity and control rights over significant decisions, typically involve business plans that include development and redevelopment projects, ESG enhancements, and capital expenditures aimed at improving net operating income and asset values.

Reporting to the Head of Real Estate Asset Management, the Vice President will be integrated within the Real Estate Investment platform. The team consists of approximately five individuals located in various regions. This role is strategically significant, offering opportunities for career advancement within the organization over time.

The successful Asset Manager will be tasked with driving value creation for all actively managed equity investments, enhancing operational and financial performance across the portfolio.

This role entails hands-on oversight of business plans and outcomes, both as an individual contributor and by leading team members, while collaborating with external operating partners and portfolio companies.

They will serve as the Owner's Representative on all projects.

The investment strategy will focus on achieving primarily opportunistic and value-add risk-return profiles, with plans to expand into core and core-plus investments.

Actively managed real estate investments typically involve business plans that include development and redevelopment projects, alongside capital expenditures aimed at enhancing net operating income and asset values.

Key Responsibilities

The ideal candidate will exemplify the firm's values and consistently demonstrate sound judgment.

They will adhere to investment committee standards and assist in the development of the team.

The successful candidate will be responsible for the following key tasks:

• Drive value creation within the global portfolio from deal execution to disposition for assets with complex investment strategies.
• Lead the execution of value creation plans in collaboration with management teams and local operating partners.
• Act as the Goldman Sachs representative with portfolio companies' management teams, fostering strong relationships and effective communication.
• Involved in setting KPIs and performance targets across all areas of the portfolio company.
• Monitor business performance against agreed KPIs, reporting issues and making recommendations for prompt resolution.
• Potentially serve as a board observer for relevant portfolio companies.
• Articulate the vision for investment assets, particularly regarding their appeal to prospective occupiers and investors.
• Evaluate investment performance against business plan targets and conduct regular site visits, serving as an expert on local leasing and capital market conditions.
• Identify, recommend, and implement asset management initiatives to capitalize on opportunities and mitigate risks during the holding period.
• Assess operating partner performance and provide recommendations as necessary.
• Analyze capital expenditures, leases, refinancing, and other major decisions, preparing recommendations for the committee.
• Evaluate annual business plans, including operating budgets and exit strategies.
• Assist the investment team with underwriting and due diligence.
• Support fundraising efforts by presenting to prospective clients and participating in due diligence sessions.

Experience
Degree in business management, real estate, finance, law, architecture, engineering, or a related field.
Approximately 8+ years of experience enhancing asset value through development, redevelopment, or repositioning initiatives.

A senior-level professional with asset management experience managing portfolios of similar scale and diversity (geographic and asset class).

Possesses a solid understanding of capital market dynamics (debt and equity) and local real estate market trends affecting various asset classes or investments.

Demonstrates excellent business acumen combined with technical understanding, creative problem-solving, and an analytical mindset.

Ability to comprehend real estate from a physical perspective.

Adept at making decisions that yield commercial outcomes, with an intuitive sense of the right commercial decisions and identifying levers to create value.

Capable of negotiating transactional documents with minimal guidance from senior management.

Experience collaborating closely with operating partners and the ability to challenge them effectively.

Experience managing portfolio companies at various stages of their lifecycle.

Strong relationship-building skills across diverse contexts, including portfolio company management, external partners, and advisors.

Demonstrable experience managing multiple projects simultaneously and coordinating with design and development teams.

Established network of relevant contacts.

Deep understanding of presenting budgets, design alternatives, schedules, and credible backup options and recommendations.

Comprehends financial analysis related to leases, sales, capital expenditures, and return drivers, with an intuitive grasp of the impact of assumption changes.

Able to identify opportunities, initiate initiatives, overcome challenges, and take calculated risks with an ownership mindset.

Experience applying rational systems principles to solve practical problems in diverse situations.

Willingness to travel extensively.

Excellent computer skills, including proficiency in spreadsheets.

Fluency in English and German, with additional European languages (Spanish, French, etc.) being advantageous.

Key Attributes

Leadership Capabilities
Excellent interpersonal skills with a keen attention to detail.
Recognized as a role model both professionally and personally, proactively identifying, developing, and nurturing future leaders while fostering a high-performance culture.

Strong negotiation skills, capable of effective communication with internal and external stakeholders, as well as diverse teams and clients.

Ability to adapt rapidly to new situations and assist others in accepting and adjusting to change.

Balanced approach between entrepreneurial creativity and tenacity.

A high level of maturity and gravitas.

Leads teams by providing timely guidance and input, developing junior team members, and owning outcomes.

Culture Fit & Impact
Strong sense of integrity, honesty, and fairness, with an emphasis on empathy and respect.

Builds trust and transparency, encouraging constructive dialogue and open debate.

Exhibits an entrepreneurial spirit and a strong desire to achieve results.

Courageous, agile, and diligent, distinguishing between activity and accomplishment.

Takes responsibility and assumes accountability, delivering quality and honoring commitments, recognizing the firm's reputation as its most valuable asset.

Curious, enthusiastic, and passionate about their work, fully committed to clients and stakeholders, and takes pride in colleagues, accomplishments, and business partnerships.

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