Director of Asset Management

Bullpen; Denver (CO); On-site; USD 140,000 - 190,000; Full time

Job summary

Bullpen is partnering with a private real estate investment firm to hire a Director of Asset Management for value-add multifamily investments. This hands-on leadership role blends financial analysis with on-site execution, owning asset business plans and driving improvements that lift NOI and returns.

The ideal candidate has owner-side multifamily asset management experience and a background in acquisitions, underwriting, or real estate finance is a strong plus.

Qualifications

• 7–10 years of owner-side multifamily asset management experience.
• Proven track record executing value-add projects, including renovations.
• Strong financial modeling and underwriting to evaluate cash flow and returns.
• Experience budgeting, forecasting, and variance analysis against underwriting.
• Experience directing property management partners and capital improvements.

Responsibilities

• Own and execute multifamily asset business plans, tracking performance against acquisition underwriting and adjusting strategies as needed.
• Monitor occupancy, leasing, rents, concessions, collections, renewals, and operating expenses to identify opportunities to improve NOI.
• Partner with regional and onsite property management teams, set clear expectations, and hold teams accountable for operating performance.
• Oversee unit renovations and capital projects, including budgets, timelines, renovation premiums, and returns on invested capital.
• Review monthly financial statements, property budgets, forecasts, cash flow, and variance reports.
• Partner with the acquisitions team to evaluate operating assumptions, support due diligence, and transition new investments into asset management.
• Visit properties to assess operations, review renovation progress, and address execution challenges.
• Mentor team members and strengthen asset management reporting, processes, and accountability.
• Present performance updates, risks, and recommendations to senior leadership.

Skills

Financial modeling

Underwriting

Asset management

Budgeting

Tools

Excel

Job description

Director of Asset Management - Value-Add Multifamily

Bullpen is partnering with a private real estate investment firm, to hire a Director of Asset Management to oversee the performance of its value-add multifamily investments.

This is a hands-on leadership opportunity for an asset manager who can move comfortably between financial analysis and property-level execution. The Director will take ownership of asset business plans, work closely with property management partners, and drive operational and capital improvements that enhance NOI and investment returns.

The ideal candidate brings owner-side multifamily asset management experience and understands how to turn an investment thesis into measurable results. A background in acquisitions, underwriting, or real estate finance is a strong plus.

What You'll Do

• Own and execute multifamily asset business plans, tracking performance against acquisition underwriting and adjusting strategies as needed.
• Monitor occupancy, leasing, rents, concessions, collections, renewals, and operating expenses to identify opportunities to improve NOI.
• Partner with regional and onsite property management teams, set clear expectations, and hold teams accountable for operating performance.
• Oversee unit renovations and capital projects, including budgets, timelines, renovation premiums, and returns on invested capital.
• Review monthly financial statements, property budgets, forecasts, cash flow, and variance reports.
• Partner with the acquisitions team to evaluate operating assumptions, support due diligence, and transition new investments into asset management.
• Visit properties to assess operations, review renovation progress, and address execution challenges.
• Mentor team members and strengthen asset management reporting, processes, and accountability.
• Present performance updates, risks, and recommendations to senior leadership.

What We're Looking For

• Approximately 7-10 years of relevant real estate investment experience, including direct owner-side multifamily asset management responsibility.
• A track record executing value-add multifamily business plans, including renovations, operational improvements, and asset turnarounds.
• Strong financial modeling and underwriting skills, with the ability to evaluate cash flow, capital needs, and investment returns.
• Experience managing property budgets, forecasts, variance analysis, and performance against underwriting.
• Experience directing property management partners and overseeing renovation or capital improvement projects.
• The ability to clearly explain the actions you have taken at an asset and their impact on NOI or investment performance.
• A hands-on, accountable leadership style and comfort working in an entrepreneurial environment.
• A background in acquisitions, underwriting, or real estate finance followed by meaningful asset management experience is strongly preferred.