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Manager, Portfolio Management, Real Estate 12 Month FTC

Company: Pearson
Location: Hoboken
Posted on: February 14, 2021

Job Description:

Description Department: Global Property, Global Operations Location: UK: London, or USA: Hoboken NJ or Durham NC Job Type: Full-time (12 month contract) Level: Manager Reporting to: Director, Global Head of Portfolio Management, Real Estate We are the world's learning company with more than 24,000 employees operating in 70 countries. We combine world-class educational content and assessment,powered by services and technology, to enable more effective teaching and personalized learning at scale. We believe that wherever learning flourishes so do people. About the Company Pearson is a global education company that helps people around the world to make progress in their lives through learning. With a rich heritage that combines 150 years of experience in publishing with the latest learning technology and digital services, we help people to learn whatever, wherever and however they choose. Our strength comes from our outstanding people; our strong relationships in the education world; our expertise in using technology to help people learn; our global footprint and local reach; and our position as a profitable, global company with a unifying sense of purpose. Pearson structures itself around three geographical markets; North America, Core ((UK, Italy, Australia, Asia (exc. China), Asia and Africa (exc. South Africa)) and Growth (India, Greater China, Brazil, Hispano America, South Africa, and Middle East). Job Purpose The primary function of this position is to support the VP, Global Head of Property - identifying and driving value through the design and implementation of real estate asset strategies for the global corporate property portfolio (approx. 80 buildings globally). The wider global real estate portfolio currently comprises c.1,000 leasehold and freehold assets (including corporate offices, warehouses, schools, learning centres and all other real estate assets supporting the education business) located in c.70 countries across the Americas, EMEA, India, China and Asia Pacific. The primary scope of the role is oversight of the corporate property portfolio yet limited has will also be advisory and will support across on property matters in relation to Pearson's direct delivery/retail business (non-corporate) is also expected. The role will be responsible for the design and execution of location strategies, leasing and freehold re-financing decisions and the acquisitions and dispositions effort in all locations. The role will work closely with business stakeholders and will manage 3rd party real estate professionals to achieve company objectives in terms of employee and customer location requirements whilst optimising the organisation's cost-base and capital utilisation. Key Performance Areas Under the direction of Director of Portfolio Management, manage or direct the professional resources, including attorneys and brokers, for all acquisition and disposition property transactions. The focus will be supporting European, Asian and Latin American markets with a more limited involvement across North America. Managing transactions relating to Pearson's serviced office portfolio is expected of this role. Maintain current knowledge of the Pearson property portfolio and real estate market conditions in all relevant locations to determine opportunities to improve real estate asset utilization and value. Act as supporting advisor to the Pearson M&A team regarding acquisitions & dispositions. Develop, present, and communicate real estate location strategies including drafting proposals and project approval documents. Collaborate with finance team on financial analysis deliverables across cash, tax and IFRS16 formats. Represent Pearson in market facing discussions with landlords and third-party advisors. Functional Outputs and Associated Activities Understand and maintain up-to-date knowledge of the physical locations, financial structure, commitments, and performance of the Pearson property portfolio, including: site-visits, as required regular reviews of monthly/quarterly/annual financial and operational performance KPI's review of capital plans funding renovation and construction costs to identify potential areas for performance improvement assure the optimal allocation of Pearson's balance sheet resources to fulfil its global occupancy requirements in partnership with the finance and accounting teams. Understand and maintain up-to-date knowledge of the key international market drivers in all key locations including market options, trends, local market conditions and opportunities to enhance financial and operational performance. Regular portfolio performance assessment of assets under management against the market benchmarks and market competition. Initiate business proposals that are designed to correct and/or improve overall portfolio performance and that of specific property assets. Mergers and Acquisitions

  • Participate as a co-representative alongside facility managers on property matters on the Pearson M&A team for its business acquisitions and dispositions program to provide high level oversight and input on all property matters that impact the viability of proposed M&A initiatives. Engage third party advisors as required. Location Strategies Maintain a schedule of all agreed location strategies, decisions taken, and on-going transactions including the development of an annual business plan(s) to review and implement change. Act as the guardian of global portfolio data to ensure our internal databases are accurate. This requires a high attention to detail and ability to reconcile various lists and reports to ensure data integrity, as well as investigate/resolve discrepancies with minimal oversight. Collaborate with stakeholders, businesses and all enabling functions (HR, Technology, Finance, Risk, and others) to determine the workplace strategy and impacts to the physical space footprint. Contribute to the acquisition or disposition due diligence process including: Utilise local market relationships to uncover new, alternative opportunities Evaluate the options and target properties Supervise the financial analysis of selected and alternative options Challenge analytical models and validity of key assumptions. Design and draft location strategy proposal documents (or provide advisory and support to local P&FM/business line heads where these are prepared locally or within the business division) including presentation of 'base case'/hold/dispose/renovate/relocate proposals. Transaction Management Assure that the Pearson database maintains a schedule of all portfolio management events including rent reviews, lease renewals, break notifications, termination dates and establish a process of regular and timely review. This requires close collaboration with our lease administration partners. Manage the appointment of brokers and agents engaged in the acquisition of disposition of all real estate assets within the Pearson estate. Direct involvement in or supervision of the negotiation of all freehold transactions and all major leases including financial due diligence for specific, individual transactions and the review and approval of all lease documentation. Strong competence in leasing contracts required. Direct involvement in or supervision of the negotiation of all other asset management events including rent reviews, lease renewals and break exercise or termination notifications. Key Stakeholders and Relationships Property Team Structure: VP, Global Head of Property, Global Property: Property location strategies and transactions support / approval Director, Global Head of Portfolio Management, Global Property: the direct report for this role Functional Heads of P&FM: frameworks, metrics, analysis, reports, project progress Regional Heads of P&FM: local requirements, project execution, escalations, issues, resolution Stakeholders: local/functional requirements, options analysis Support Partners: Finance (Financial analysis), HR (FTE data, employee issues, HR metrics), Risk (operational risks), Communications (real estate change initiatives, strategy communication) Pearson is an equal opportunities employer. We do not discriminate against employees or job applicants and select the best person for each job based on relevant skills and experience. We are also committed to building an accurate picture of the make-up of the workforce and encouraging equality and diversity. The information you provide will stay confidential, and be stored securely. It will not be seen by those involved in making decisions as part of the recruitment process. Qualifications Bachelor's degree qualified or equivalent Proven relevant experience designing and implementing global commercial real estate strategies and transactions for corporate institutions. Desired Work Experience Management of third-party professional resources in the implementation of location strategies, acquisition and disposition transactions, capital structures and financing principles gained from either a consultancy or a client-side role. Selection and appointment of 3rd party brokers, agents, real estate lawyers and other professional teams and experience of dealing and interacting with tenants. Specific real estate experience across Europe, Africa, and Asia. Americas experience a plus. Experience of implementing commercial real estate fundamentals including freehold acquisitions and sales, leasing agreements, sell/buybacks, sub-letting, lease renewals, rent reviews, break exercise, refurbishments, assignments, terminations, and other relevant property events. Proven experience in designing and presenting feasibility studies, options analysis, financial opportunity reports and designing and drafting location strategy proposal documents for the acquisition, disposal, refurbishment, or re-financing of real estate assets at Executive/Board level which recognise the operational and financial impact on the overall portfolio. Proven experience in negotiation and completion of successful real estate transactions that add value to the assets under management and/or make better use of allocated capital. Desired Skills Highly analytical with strong financial modelling skills including P&L, DCF and NPV scenario analysis; IRR, ROI and payback analysis, asset valuation principles and knowledge of accounting for leases, (e.g. PV of operating lease reporting, accelerated write-offs, non-cash adjustments). Significant knowledge of the current trends and conditions in the global real estate market with specific knowledge in major global cities. Thrives in a fast-paced and demanding environment to meet critical deadlines with strong time-managements skills and ability to prioritise and re-prioritise when necessary. Highly organised, can manage multiple projects simultaneously and able to think creatively, critically, and proactively, even when under time-pressure. Consistently demonstrates good business judgement and reasoned decision making based on excellent attention to detail and balanced analysis of objectives, risks, implications, and costs. Tactful and experienced at dealing with sensitive and confidential information. Strong relationship building, influencing and communications skills across all levels of the organisation including strong negotiating and presentation skills. Excellent written and oral presentation skills including proficiency in relevant PC skills (e.g. Microsoft Office) Desired Key Personal Attributes Confident and articulate with good presentation skills Assertive, adaptable, and creative Professional and positive approach Analytic ability / Action and results oriented / Diligent with attention to detail Collaborates well / Effective communicator at all levels Self-motivated & self-sufficient / Dynamic and vigorous / Ability to cope under pressure A can-do attitude and willingness to go the extra mile when required Additional Information This role can be located in the UK out of our office at 80 Strand, London, or our offices in the US at Hoboken NJ or Durham NC Pearson is delighted to be committed to the Race Charter, and a signatory to Change the Race Ratio, and to be confirmed by Stonewall to be in the Top 100 Employers LGBTQ employers in the UK We are a Disability Confident committed employer and were recognised in the Best Employers for Diversity 2019 awards and featured on The Forbes list of Best D&I Employers, and are a Working Mums Top Employer. Pearson is listed on both the London and New York Stock Exchanges (UK: PSON; NYSE: PSO). Primary Location: GB-GB-London Other Locations US-NJ-Hoboken, US-NC-Durham Work Locations: US-NJ-Hoboken-221 River 221 River Street Hoboken 07030 Job: Real Estate and Facilities Organization: Technology & Operations Employee Status: Fixed Term Job Type: Standard Shift: Day Job Job Posting: Jan 29, 2021 Job Unposting: Feb 12, 2021 Schedule: Full-time Regular Pearson is an Equal Opportunity and Affirmative Action Employer and a member of E-Verify. All qualified applicants, including minorities, women, protected veterans, and individuals with disabilities are encouraged to apply. If you are a qualified individual with a disability and are unable or limited in your ability to use or access this site as a result of your disability, you may request reasonable accommodations by emailing ppsmhr@pearson.com . Please follow the links to "EEO is The Law" , which describes the Federal laws prohibiting job discrimination based on race, color, sex, national origin, religion, age, equal pay, disability or genetic information, and the "EEO is the Law Supplement" which has additional information for Federal Contractors. The Pay Transparency Nondiscrimination Provision provides applicants and employees notice that Pearson will not discriminate against them for inquiring about, discussing or disclosing their pay or, in certain circumstances, the pay of their co-workers. Pearson is an Equal Opportunity and Affirmative Action Employer and a member of E-Verify. All qualified applicants, including minorities, women, protected veterans, and individuals with disabilities are encouraged to apply. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity and/or expression, genetic information, disability status, veteran status, national origin or any other characteristic protected by law.

Keywords: Pearson, Hoboken , Manager, Portfolio Management, Real Estate 12 Month FTC, Executive , Hoboken, New Jersey

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