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Job Description

A vacancy has arisen for a Development Asset Manager for Old Mutual Property also known as Old Mutual Real Estate Holdings Company (OMREHC) (Pty) Ltd.

Who is Old Mutual Property:

Old Mutual Property is a South African based unlisted property fund. We are passionate about property and actively manage a diversified portfolio of R24 billion, both locally and internationally. We directly own around 1 million square metres of gross lettable area, half of which is in super regional and other retail centres in South Africa. Gateway Theatre of Shopping, in Umhlanga, KwaZulu-Natal, is our flagship property. Our other retails centres include Cavendish Square (Claremont, Cape Town), Bedford Centre (Bedfordview, Johannesburg), The Zone (Rosebank, Johannesburg) and Riverside Mall (Nelspruit, Mpumalanga). Almost 35% of our local assets are industrial property assets and we have less than 10% allocated to the local office sector, which are co-located within our retail centres. Our SA portfolio is managed under a property services contract with Excellerate JHI.

Included in our industrial portfolio is a joint venture with Atterbury Property Group. Together, we are developing over 1 million square metres of land on four land parcels around the country in new age logistics warehousing and distribution centres.

Our offshore assets are held via three platforms.

First, is a 90% investment in Lions Head Investment (LHI), based in Sofia, Bulgaria. LHI has a portfolio of four properties offering 150,000 square metres of strategically located office buildings in Sofia and Bucharest, Romania. These have been completed at high specifications with emphasis on green building credentials.

The second offshore investment we have is a 7% stake in Regional REIT, a LSE listed REIT. This investment is the result of a sale of a 40% stake in an unlisted property fund that we co-owned in the Squarestone Property Group. Regional REIT is invested in office assets located in the regional centres of the UK and targets a shareholder return of 10%.

We also own a minority investment in Two Rivers Lifestyle Centre (TRLC) in Nairobi, Kenya. This retail centre of 67,000 square metres has over 200 stores and is anchored by Carrefour. It also has an adjacent office tower. We’re in the process of restructuring our investment in TRLC.Role DescriptorSubmissions for Committees and ForumsCompile reports, analysis and specific tasks as may be required by the Board, Property and Investment Committee, any Board Sub-Committee, Exco Committee or as directed.Adhere to and ensure that direct reports adhere to relevant levels of authority.
• Perform corporate management functions in accordance with policies, procedures and legal requirements.
• Perform corporate management functions within the allocated time frame
Strategic Asset Management ResponsibilitiesDeveloping investment and or economic strategies based on management philosophy and customer objectives. Performs investment research to formulate asset specific strategiesPerforms deal structuring and financial modelling.Analyses the market, looks for opportunities and works with external consultants to develop new products and features in existing products to suit specific target markets.Responsible for researching, analysing and providing relevant economic and property overviews.Makes recommendations regarding investment attractiveness of specific property sectors.Assists in making recommendations for the selection of investment decisions to the Investment CommitteesAssist in the development of an industry leading property, data driven information system.Monitor, update, maintain and report on property fundamentals, which includes review of annual budgets, net income comparison to budgets, forecasting and modelling.Create standardized property research decks for Investment Team and Investment Committee.Conduct research on special topics in support Investment Teams strategic initiatives.Assist with the development and presentation of the firm’s macroeconomic, capital market and property market information.Assist with the preparation of property trends commentaries.Develop research tools to assist the Investments Team for potential property investments. The nature of the role is more specialised knowledge work rather than knowledge integrationMonitor’s developments in security markets. Liaises with tax attorneys or accountants to determine legal consequences of investment decisions.Review and analyse annual property valuations and complete internal valuations.Regular reports and updates to various committees and boards.Investment AnalysisResearch, analyses, and provides relevant property benchmarking information.Assists with the analysis of investment decisions and motivations for Investment Committee.Compilation of Fund investment performance reports for Investment Committee and Board packs/presentations.Asset Management Support and AssistanceReview and analysis of Fund data to facilitate investment decisionsAssist with the management, review and of approval of quarterly forecasts and annual property budgets.Performs deal structuring and financial modelling

Personal EffectivenessAccountable for service delivery through own efforts.Individually accountable for managing own time, asks and output quality over periods of 1 day to a maximum of three months.Makes increased contributions by broadening individual skills.Collaborates effectively with others to achieve personal results.Accepts and lives the company values.Exceptional written and verbal communication skills, including ability to articulate recommendations in a concise and timely manner.Strong research and analytical skills including the ability to gather, interpret and effectively communicate macroeconomic, capital market and property market data.Critical thinking skills that can convert data into meaningful relationships and information to drive quality decision making.Basic Job RequirementsB. Com / MBA / CACFA (level 2 preferred)4-6 yrs. relevant industry experience requiredExperience with deal structuring and financial modelling is requiredProperty experience advantageousStrong analytical skills and numerical abilityComputer skills (Advanced Excel and PowerPoint)

Skills

Action Planning, Adaptive Thinking, Analytical Thinking, Budget Management, Business Case Development, Current State Assessment, Data Analysis, Data Compilation, Data Modeling, Evaluating Information, Gaps Analysis, Policies & Procedures, Project Performance Management (PM), Solution Analysis

Competencies

Communicates EffectivelyCultivates InnovationDecision QualityEnsures AccountabilityManages ComplexityOptimizes Work Processes

Education

NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Closing Date

24 May 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

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