2024 Investments Summer Internship Program (Real Estate)

Job Title: Summer Analyst

Business Units: Debt Strategies Group, Equity Strategies Group, Risk, Research & Analytics, Regional Offices

Locations: Atlanta, GA; Chicago, IL; Dallas, TX; Los Angeles, CA; San Francisco, CA; Washington, DC; Whippany, NJ

Company Overview: MetLife Investment Management (MIM) is the institutional asset management business of MetLife, Inc. (NYSE: MET), one of the world’s leading financial services companies. MIM serves institutional investors, including MetLife’s general account investment teams, by combining a client-centric approach with deep, asset-class expertise established over 150 years of disciplined risk-management experience. Focused on managing Public Fixed Income, Private Capital, and Real Estate assets, we aim to deliver strong, risk-adjusted returns by building tailored portfolio solutions. MetLife Investment Management had $587.5 billion of total assets under management as of June 30, 2023, for our institutional clients and MetLife’s general account. Further information is available at investments.metlife.com.

Department Overview: Real Estate and Agricultural Finance maintain a portfolio invested in commercial real estate and agricultural mortgages, as well as real estate equity assets. Real Estate Investments had $107.4 billion of total assets under management on a gross market value basis as of June 30, 2023. Real Estate sources and manages commercial real estate investments through seven regional field offices in the U.S. and International field offices in London, Tokyo, Mexico City, and Santiago.

Program Description: MetLife Investment Management’s Summer Analyst Program is a 10-week hybrid internship program providing participants broad exposure to a global investment manager and a specific asset class of their choosing. Summer analysts will develop various technical and analytical skills, have the opportunity to network with professionals across the company, and fully immerse themselves in MIM’s culture.

Internship Program Dates: May 28, 2024 to August 2, 2024 (10 weeks)

Opportunity: Candidates will be able to rank their preferences for placement in the following business units and corresponding locations.

• Whippany, NJ
  • Debt Strategies Group
  • Equity Strategies Group
  • Risk, Research & Analytics
• Regional Offices
  • Atlanta, GA
  • Chicago, IL
  • Dallas, TX
  • Los Angeles, CA
  • San Francisco, CA
  • Washington, DC
  • Whippany, NJ

Debt Strategies Group (Whippany, NJ): During the summer internship, the Real Estate Debt Strategies Group (DSG) placement will provide an excellent introduction to the various aspects of institutional real estate investment, focusing on commercial mortgages. DSG focuses on the origination and management of commercial mortgages and the portfolio management of MIM’s clients. The summer analyst will gain hands-on exposure to commercial mortgage underwriting, portfolio management, risk management, and asset and client management for our third-party investors. The internship will enhance personal credentials and offer the summer analyst the opportunity to establish relationships with industry professionals.

Real Estate Investments had $70.7 billion of total assets under management in commercial mortgage loans on a gross market value basis as of June 30, 2023.

Specific responsibilities may include some of the following:

• Review potential loan transactions in Investment Committee
• Participate in portfolio surveillance and portfolio management meetings
• Identify new trends and opportunities in the commercial mortgage market
• Update and create new reports and analyses for the commercial mortgage leadership team
• Assist in ongoing projects for our flagship Commercial Mortgage Income Debt Fund and our newly launched Hotel Debt Fund, which may include working on the deal pipeline, gathering loan documents for transactions, investor requests, and general operational activities
• Assist our Separate Account team in serving our third-party clients on new and existing loan participations
• Participate in ad-hoc assignments as determined by the team’s needs and requirements at that time
• Participate in broader MIM 2024 Summer Analyst Program projects

Equity Strategies Group (Whippany, NJ): During the summer internship, the Real Estate Equity Strategies Group (ESG) placement will provide an excellent introduction to the various aspects of institutional real estate investment, focusing on real estate equity. ESG focuses on real estate equity investment, asset management, and portfolio management. The summer analyst will gain hands-on exposure to commercial real estate underwriting, portfolio management, risk management, and asset and client management for our third-party investors. The internship will enhance personal credentials and offer the summer analyst the opportunity to establish relationships with industry professionals.

Real Estate Investments had $36.7 billion of total assets under management in real estate equity on a gross market value basis as of June 30, 2023.

Specific responsibilities may include some of the following:

• Reviewing potential equity transactions in Investment Committee
• Support the Portfolio Manager and Head of Equity Strategies in special projects related to the expansion of MetLife’s Real Estate Investment Management platform
• Identifying and working on opportunities for existing third-party clients
• Identifying new trends and opportunities in the real estate equity market
• Establish strong working relationships with MetLife’s regional office network, Institutional Client Group, Research, and Finance departments
• Assist with the completion of monthly / quarterly / annual internal and external client reporting packages
• Review account performance / exposure vs. benchmarks, such as NCREIF
• Coordinate with regional office asset managers in the preparation of quarterly property-level reports
• Work with IT partners and others in the enhancement of the Equity Management System
• Monitor property type, geographic, tenant sector and other concentration risks within the portfolio
• Track and report on various portfolio metrics such as sales and delegated authority transactions
• Seek to elevate the analytical capabilities of the Real Estate Managed Account portfolio
• Participate in ad-hoc assignments as determined by the team’s needs and requirements at that time
• Participate in broader MIM 2024 Summer Analyst Program projects

Risk, Research & Analytics (Whippany, NJ): During the summer internship, the Real Estate Risk, Research & Analytics placement will provide an excellent introduction to the various aspects of institutional real estate investment management, focusing on risk management, valuations, research & strategy, and portfolio performance analytics. The summer analyst will gain hands-on exposure to various support functions in a leading commercial real estate debt and equity platform. The internship will enhance personal credentials and offer the summer analyst the opportunity to establish relationships with industry professionals.

Specific responsibilities may include some of the following:

• Analytical support for the Risk, Research & Analytics teams
• Real estate market research, analysis, and forecasting in support of investment decisions and portfolio strategy
• Production of portfolio analytics in support of the assessment of geographic, industry, tenant, and borrower exposures
• Strategic assessment of portfolio positioning, including opportunities and risks
• Support client and management portfolio reporting
• Commercial mortgage risk assessment and bond-equivalent ratings
• Support internal and external valuation and appraisal review oversight processes
• Real estate market forecasting and valuation guidance
• Construction of underwriting tools and benchmarks
• Assist in communicating house view of market trends, risks, and outlook via presentations and reports
• Participate in ad-hoc assignments as determined by the team’s needs and requirements at that time
• Participate in broader MIM 2024 Summer Analyst Program projects

Regional Offices (Atlanta, GA; Chicago, IL; Dallas, TX; Los Angeles, CA; San Francisco, CA; Washington, DC; Whippany, NJ): During the summer internship, the Regional Office placement will provide an excellent introduction to the various aspects of institutional real estate investment management with a mix of boots-on-the-ground and portfolio management perspectives. The summer analyst will gain hands-on exposure to the various aspects of real estate debt and equity investments, such as the regional office’s commercial mortgage origination, acquisitions, development, and asset management efforts by completing property and market analyses and assisting in the internal investment committee approval processes and closings. Additionally, the summer analyst will gain exposure to commercial underwriting, asset management, and risk management on a decentralized, regional level and work with portfolio managers to support our third-party investors. The internship will enhance personal credentials and offer the summer analyst the opportunity to establish relationships with industry professionals.

Specific responsibilities may include some of the following:

• Commercial mortgage risk analysis and rating
• Equity and commercial mortgage portfolio risk analysis and surveillance reporting
• Tracking Mortgage and Equity transaction pipelines
• Assisting with marketing strategy, including prospecting and implementation
• Real estate valuation and underwriting of new commercial mortgage transactions
• Equity property valuation, lease analysis, and capital budget planning / implementation
• Collection, compilation, and reporting of real estate market, economic and demographic information
• Credit analysis of existing or prospective tenants and/or borrowing entities
• Financial modeling and scenario analysis of development projects and existing equity properties
• Reviewing and identifying risks within property condition reports
• Conduct property tours for assets in the existing portfolio as well as prospective new investments
• Portfolio (mortgage and equity) surveillance and asset management activities may include
  • Lease review and abstracts
  • ARGUS modeling
  • Investment valuation
  • Property tours / inspections
  • Capital and operating budget preparation
  • Investment committee presentations
• Participate in ad-hoc assignments as determined by the team’s needs and requirements at that time
• Participate in broader MIM 2024 Summer Analyst Program projects

The responsibilities described here are not exhaustive, and additional assignments, duties, or responsibilities may be required of this position. MIM may change assignments, duties, and responsibilities at any time, with or without notice, by its sole discretion.

Candidate Skills and Qualifications:

MIM seeks to hire individuals who work well in team-based settings, are highly motivated, intelligent, have sound judgment, have solid analytical skills, and have demonstrated excellence in prior endeavors.

Required Skills and Qualifications:

• Candidate must be currently enrolled in a higher education institution and actively pursuing an undergraduate degree with a strong academic record and a demonstrated interest in real estate
• Candidate’s anticipated graduation date must be between December 2024 and June 2026
• Candidate must have a strong work ethic, personal and professional integrity, and be able to adapt to new challenges in a dynamic environment while handling multiple projects
• Candidate must be able to work independently and in a team environment, remaining detail-oriented and client-focused
• Candidate must have excellent written and verbal communication skills and feel comfortable interacting with management-level professionals
• Candidate must be familiar with Microsoft Office products such as Word, Excel, and PowerPoint

Preferred Skills and Qualifications

• Advanced proficiency in Microsoft Office products such as Word, Excel, and PowerPoint is strongly preferred
• Familiarity with ARGUS

APPLICATION DEADLINE IS OCTOBER 20TH AT 11:59PM

For additional information or to submit a resume for consideration, please contact:

www.metlife.com/investmentsprograms

MetLife is committed to building a purpose-driven and inclusive culture that energizes our people. Our employees work every day to help build a more confident future for people around the world.

We want to make it simple for all interested and qualified candidates to apply for employment opportunities with MetLife. If you need assistance and/or a reasonable accommodation due to a disability during the application or the recruiting process, please send a request to accommodations@metlife.com or call our Employee Relations Department at 1-877-843-3711.

MetLife is a proud Equal Employment Opportunity and Affirmative Action employer dedicated to attracting, retaining, and developing a diverse and inclusive workforce. All qualified applicants will receive consideration for employment at MetLife without regards to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, national origin, marital or domestic/civil partnership status, genetic information, citizenship status, uniformed service member or veteran status, or any other characteristic protected by law.

MetLife maintains a drug-free workplace.

In connection with this open position, MetLife will only consider job applicants who are legally authorized to work in the United States without an employer-sponsored petition for a visa, such as an H-1B visa.  It will not file any visa applications in connection with this position.