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Cigna Investment Management - Vice President, Real Estate - Acquisitions at Cigna

Posted in General Business 30+ days ago.

Type: Full-Time
Location: Bloomfield, Connecticut





Job Description:

Role Summary

Cigna Investment Management (CIM) manages over $35 billion in assets on behalf of Cigna, a publicly traded global health services company. CIM's assets are invested in public bonds, private placement securities, commercial mortgages, real estate equity, mezzanine debt, private equity, equity securities, warrants, commercial paper, certificates of deposit, municipal securities, mutual fund shares, United States government securities, options contracts on securities, futures contracts on intangibles, money market funds, derivatives, structured notes, exchange traded funds and hedge funds.

Cigna Realty Investors (CRI) is the real estate investment division of CIM. CRI's mission is to be a boutique real estate investor focused on delivering superior long-term returns. CRI manages a diverse real estate portfolio ($5B of AUM) consisting of joint venture equity partnerships, third-party managed investments, high yield investments, and commercial mortgages. CRI is a relationship driven company focused on doubling its commitment to its equity and high yield businesses with an emphasis on apartment and industrial opportunities.

The Vice President position, reporting to Acquisitions Managing Director, will be responsible for producing new debt and equity investments in assigned markets and partnering with CRI Asset Management in actively monitoring CRI's existing real estate portfolio.

Responsibilities

  • Generate new debt and equity investments in assigned territories that meet Portfolio return objectives.
  • Negotiate, with support from manager, Mortgage Application, Loan Documents, Purchase & Sale Agreements and Joint Venture Documents to minimize liability to CIM.
  • Lead the preparation of credit materials and presentation to recommend debt investments and joint ventures. Furthermore, co-recommend and co-present investment opportunities with manager through the credit process. Obtain necessary investment committee approvals and close recommended investments. Own and coordinate all aspects of closing with internal and external business partners (accounting, legal, engineering and insurance). Meet deadlines and know the entire process.
  • Partner with CRI Asset Management team on underwriting of new investments and assist in all aspects of management of existing portfolio including business plans, valuations and recapitalizations.
  • Price joint venture opportunities (unleveraged IRR). Know spot market pricing. Determine the best relative value in the marketplace. Actively underwrite and quote mortgage business to determine market pricing for different credit risk profiles. To the extent necessary, structure credit enhancements to address lease-up risk, concentrated rollover or extensive property reposition strategy. Ensure pipeline reports are updated.
  • Demonstrate broad knowledge across real estate industry and take ownership of assigned territories. Know demographic trends, market drivers, fundamentals, construction costs, values, and major owners/developers. Continuously strive to expand real estate knowledge and expand skillset. Travel to assigned territories.
  • Be consistently prepared for deal discussion meetings, read distributed materials and identify mathematical errors, spellings mistakes, inconsistencies and compliance with Cigna underwriting guidelines, strategy and tactics. Attend all Production Review meetings.
  • Support manager in the development and maintenance of relationships with key Partners, Borrowers, and Intermediaries.
  • Actively participate in Enterprise Improvement Initiatives and ad hoc special projects. Initiate enterprise improvements that add value, proactively create solutions that solve problems and take ownership of initiatives through implementation.
  • Provide training and development opportunities and empower analysts to take ownership. Share responsibility and accountability. Be a team player.

Qualifications


  • 5 to 7 years of real estate asset management experience.

  • BA/BS in business, economics, finance, or other relevant field

  • MBA, CFA and/or other advanced business or investment designation desirable

  • Experience in generating new debt and equity investments across multiple property types, preferably apartment and industrial, in assigned markets

  • East Coast market knowledge with Southeast region expertise beneficial

  • Experience in negotiation and structuring of real estate documents including: operating agreements, purchase and sale contracts, development agreements and loan documents.

  • Ability to solve problems and work in growth environment

This position supports Cigna Investments, Inc., an investment adviser registered with the United States Securities and Exchange Commission ("SEC"). The successful candidate will become an Access Person of CII required to comply with the personal trading requirements and restrictions contained in CII's Code of Ethics. These requirements and restrictions apply to the Access Person and all securities transactions in accounts in which an Access Person has a Beneficial Interest.

About Cigna

Cigna Corporation exists to improve lives. We are a global health service company dedicated to improving the health, well-being and peace of mind of those we serve. Together, with colleagues around the world, we aspire to transform health services, making them more affordable and accessible to millions. Through our unmatched expertise, bold action, fresh ideas and an unwavering commitment to patient-centered care, we are a force of health services innovation. When you work with us, or one of our subsidiaries, you'll enjoy meaningful career experiences that enrich people's lives. What difference will you make?

Qualified applicants will be considered without regard to race, color, age, disability, sex, childbirth (including pregnancy) or related medical conditions including but not limited to lactation, sexual orientation, gender identity or expression, veteran or military status, religion, national origin, ancestry, marital or familial status, genetic information, status with regard to public assistance, citizenship status or any other characteristic protected by applicable equal employment opportunity laws.

If you require reasonable accommodation in completing the online application process, please email: SeeYourself@cigna.com for support. Do not email SeeYourself@cigna.com for an update on your application or to provide your resume as you will not receive a response.

Cigna has a tobacco-free policy and reserves the right not to hire tobacco/nicotine users in states where that is legally permissible. Candidates in such states who use tobacco/nicotine will not be considered for employment unless they enter a qualifying smoking cessation program prior to the start of their employment. These states include: Alabama, Alaska, Arizona, Arkansas, Delaware, Florida, Georgia, Hawaii, Idaho, Iowa, Kansas, Maryland, Massachusetts, Michigan, Nebraska, Ohio, Pennsylvania, Texas, Utah, Vermont, and Washington State.





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