Director of Asset Management

Banner Real Estate Group; Chicago (IL); Híbrido; USD 150.000 - 185.000; Jornada completa

Ventajas ofrecidas por este puesto de trabajo

Health insurance

Dental insurance

Vision insurance

401(k) with company match

PTO

Short-term disability

Long-term disability

Life insurance

Paid parental leave

Rent discounts

Descripción de la vacante

Banner Real Esate Group is seeking a Director of Asset Management to drive investment performance across a growing portfolio including multifamily and self-storage assets. You will lead asset-level strategy, valuations, risk management, and guide properties through development, lease-up, stabilization, refinancing, repositioning, and disposition.

Reporting to the Senior VP of Asset Management, you will oversee budgeting, capital planning, and partnerships with sponsors, lenders, and brokers.

Formación

• At least 5 years of institutional real estate experience across multifamily and self-storage.
• Bachelor's degree in business, real estate, finance, or related field required.
• Experience integrating assets into a portfolio and leading valuations/dispositions/refinancings.
• Proven ability to manage assets through investment life-cycle from lease-up to disposition.
• Strong financial modeling and investment analysis skills including IRR/DSCR metrics.
• Experience managing institutional equity partners, lenders, and capital relationships.
• Excellent communication, analytical, and negotiation skills.
• Willingness to travel for property visits, investor meetings, and conferences.

Responsabilidades

• Develop and execute short- and long-term business plans to increase NOI and asset value.
• Lead valuations, financial modeling, market analysis, and benchmarking.
• Conduct hold/sell analyses and monitor realized/unrealized returns.
• Lead dispositions, refinancings, and recapitalizations including due diligence.
• Collaborate with property management to optimize leasing, occupancy and expenses.
• Oversee budgeting/forecasting; recommend capex and renovation strategies.
• Build and mentor asset management team; collaborate with cross-functional teams.
• Engage with JV partners, lenders, and investors; ensure compliance and reporting.

Conocimientos

Asset management

Financial modeling

Real estate analysis

Leadership

Negotiation

Team development

Strategic planning

DSCR analysis

Travel willingness

Educación

Bachelor's degree in business/real estate/finance

Advanced degree (preferred)

Herramientas

Excel

DCF modeling

IRR analysis

JV structures

Descripción del empleo

Location: Chicago, IL; Hybrid (in office Monday - Thursday)

Salary: $150,000 - $185,000 annually, commensurate with experience

Bonus: Eligible for annual performance-based bonus

Travel: Required for property tours, investor meetings, and conferences.

Benefits: Health, dental, vision, 401(k) with company match, PTO, short- and long-term disability, life insurance, paid parental leave, rent discounts, and more.

Shape the strategy behind a growing real estate portfolio.

Banner Real Esate Group (and/or its affiliated entity/ies) is looking for a Director of Asset Management to drive investment performance and maximize value across a growing portfolio of multifamily, self-storage, and other real estate assets.

Reporting to the Senior Vice President of Asset Management, you will lead asset-level strategy, identify opportunities to enhance returns, manage investment risk, and guide properties through the full investment life cycle - from development and lease-up through stabilization, refinancing, repositioning, and disposition.

This is an opportunity to make a meaningful impact on a dynamic portfolio with significant growth and development activity underway.

• 16 multifamily communities totaling 3,100 units
• 5 self-storage assets in lease-up or stabilization
• 2 self-storage developments moving into lease-up within the next three months
• 2 multifamily developments also entering lease-up within three months
• 1 senior housing asset

What you’ll do:

Lead Asset Strategy and Valuation

• Develop and execute short- and long-term business plans that increase net operating income (NOI), improve asset performance, and maximize property value.
• Lead asset valuations, financial modeling, market analysis, and performance benchmarking.
• Conduct hold/sell analyses and monitor realized and unrealized investment returns.
• Lead dispositions, refinancings, and recapitalizations, including broker opinions of value (BOVs), negotiations, due diligence, and closing activities.

Drive Operating Performance

• Partner with Banner Property Management's multifamily operations team and third-party self-storage operators to optimize leasing, occupancy, operating expenses, and capital improvement programs.
• Oversee annual budgeting and financial forecasting, and recommend capital expenditure and renovation strategies.
• Conduct regular property visits and evaluate competitive market conditions to identify performance gaps and growth opportunities.
• Evaluate and select third-party self-storage management companies and negotiate management agreements.

Manage Capital Partner Relationships

• Serve as the primary point of contact for joint venture (JV) partners, lenders, and investors regarding asset performance and investment strategy.
• Monitor compliance with loan covenants and equity partnership requirements, including debt service coverage ratio (DSCR) testing.
• Partner with the accounting team to deliver accurate monthly, quarterly, and annual financial and investment reporting.

Bring New Developments Online

• Lead the transition of new multifamily and self-storage projects from development into lease-up and stabilized operations.
• Collaborate with development, marketing, and property management teams on pre-leasing, market positioning, branding, and marketing strategies.
• Establish performance expectations and business plans to support successful lease-up and long-term asset performance

Build the Team

• Hire, mentor, and develop asset management associates and analysts.
• Collaborate with the Chief Investment Officer (CIO) and cross-functional teams, including legal, accounting, investments, development, and property management.
• Represent Banner at industry events and cultivate relationships with brokers, lenders, investors, and other industry partners.

Qualifications

Required

• At least 5 years of institutional real estate experience, with multifamily, self-storage, and/or real estate development experience strongly preferred.
• Bachelor's degree in business, real estate, finance, or a related field required.
• Demonstrated experience integrating newly acquired assets into a portfolio and leading valuations, dispositions, and refinancings.
• Proven ability to manage assets throughout the investment life-cycle, from lease-up and stabilization through repositioning, refinancing, and disposition.
• Strong financial modeling and investment analysis skills, including discounted cash flow (DCF) modeling, joint venture structures, distribution waterfalls, and key performance metrics such as internal rate of return (IRR), DSCR, debt yield, and NOI.
• Demonstrated success managing institutional equity partners, lenders, and other capital relationships.
• Strong communication, analytical, and negotiation skills, with the ability to balance strategic planning and hands-on execution.
• Experience leading, mentoring, and developing a team.
• Willingness to travel for property visits, investor meetings, and conferences.

Preferred

• Advanced degree in business, finance, real estate, or a related field.
• Experience overseeing multiple asset classes and managing third-party operators.
• Experience transitioning newly developed properties from construction and development into lease-up and stabilization.

Pre-Employment Requirements: Final candidates must successfully complete a background check.

Banner Property Management is proud to be an Equal Opportunity Employer.