• Director Real Estate Investments

    Job Location(s) US-MA-Boston
    Requisition #
    2018-19289
    Category
    Real Estate
    Type
    Full-Time
  • Overview

    Founded in 1951, Iron Mountain Incorporated (NYSE: IRM) is the global leader in storage and information management services. Iron Mountain is committed to storing, managing and transforming what our customers value most, from paper records to data to priceless works of art and culture. Providing a full suite of solutions – records and information management, data management, digital solutions, data centers and secure destruction – Iron Mountain enables organizations to lower storage costs, comply with regulations, recover from disaster, and protect their data and assets from a complex world. Visit the company website at www.ironmountain.com for more information.
     
    Iron Mountain enables 94% of the Fortune 1000 to smartly and securely manage their physical and digital information assets. With unmatched innovation and collaboration, our teams create information management solutions for our customers’ data, no matter what format, location or lifecycle stage it’s in and no matter where it’s kept. We are more than 17,000 people strong and growing. We’ve been a trusted records management leader since 1951.
     
    Iron Mountain is an equal opportunity employer, and does not unlawfully discriminate on the basis of race, color, religion, sex, national origin, marital status, age, sexual orientation, gender identity characteristics or expression, disability, medical condition, U.S. Military or veteran status or other legally protected classifications in making employment decisions.

     

    Responsibilities

    Director, Real Estate Investments has primary responsibility for creating value through the active management of Iron Mountain’s portfolio of owned and leased real estate by working with the Real Estate Investment and Operations team to refine and execute a real estate investment and portfolio strategy.

     

    Major Responsibilities include:

     

    • Refining the global real estate investment process and tools to advise on ownership, leasing and asset management strategies resulting in business planning to support budget, pipeline, forecast and long-term corporate strategy.
    • Assessing pipeline of M&A, Lease Consolidations, Lease-Conversions (including Purchase Options) and Dispositions; making recommendations to the CFO and SVP, Global Real Estate Investments on valuation and allocation opportunities that support an evolving enterprise business strategy. A key focus will be on matching sources and uses of capital through an active real estate capital recycling strategy.
    • Working with Finance and Capital Markets / Treasury on detailed business cases that support investment, disposition or optimization decisions that relate to owned or leased real estate helping Iron Mountain optimize its cost of capital. Monitor investment impact on leverage levels and REIT Asset Test.
    • Creating and maintaining a valuation summary of owned real estate across the enterprise that are in-line with current market dynamics to facilitate investment and capital recycling decisions.
    • Partnering closely with the Global Real Estate operating team to plan, track and monitor key performance indicator (KPI) progress on owned real estate portfolio. Make Asset Management recommendations with an eye towards maximizing value of owned asset (i.e. sub leasing strategies of excess warehouse or office space, parking lots etc.).
    • Create/update annual Asset Management Plans for high-value real estate assets ($10M+) including a hold-sell and highest and best use analysis.
    • Review and participate in process of valuation and due diligence of new properties, including approving investment memos (M&A) for transactions that include real estate which will be acquired as part of the transaction. Provide feedback to SVP, Global Real Estate Investments where appropriate concerning prospective acquisition targets.
    • Support organic growth strategies across all enterprise business lines where real estate is being acquired or developed.
    • Overall responsibility for accuracy, completeness and timeliness of real estate models and internal valuations.
    • Create and maintain a network of global real investment professionals/advisors including commercial brokers, investment bankers and REIT analysts

    Qualifications

    The ideal candidate will be a strategically oriented real estate investment professional, ideally with a strong understanding of REIT investment dynamics, real estate asset management and a demonstrated global perspective.

     

    Compliance Obligations:

     

    It is the responsibility of every Iron Mountain employee:

    • to comply with all applicable laws, rules, regulations, and company policies
    • to exhibit ethical behavior in accordance with our Code of Ethics and Business Conduct 
    • to complete required training within the allotted time frame