Director of Asset Management- ESL

Evergreen Real Estate Group; Chicago (IL); Hybrid; USD 165,000 - 185,000; Full time

Job summary

Evergreen Real Estate Group is seeking a Director of Asset Management for the Evergreen Senior Living portfolio, hybrid in Chicago with travel to Ohio and Indiana. You will own asset-level strategy, manage relationships with Gardant and operators, and build the analytics and reporting framework to support ownership decisions for lenders and investors.

You will guide performance reviews, ensure operator accountability, and deliver scalable portfolio insights through consolidated reports and

Qualifications

• Bachelor's degree required; MBA, MSRE or related graduate degree a plus.
• 10+ years of ownership-side asset management or portfolio management experience in real estate—senior housing or assisted living preferred.
• Experience overseeing third-party operators or property managers and holding operator leadership accountable to performance.

Responsibilities

• Own asset-level business plans and portfolio strategy; monitor census, payor mix, rate, labor, expenses, reserves, and NOI vs pro forma.
• Maintain watchlists for underperforming assets and develop turnaround plans with operators.
• Lead relationships with Gardant and other operating partners; conduct reviews and set performance expectations.
• Own consolidated portfolio reporting, variance analysis, and reforecasts for ESL leadership.
• Oversee openings, lease-up through stabilization, and monitor occupancy against loan and partnership requirements.
• Collaborate with corporate asset management, accounting, and compliance to ensure integrated reporting.

Skills

Financial analysis

Communication

Leadership

Strategic thinking

Data-driven decisions

Travel readiness

Education

Bachelor's degree

MBA/MSRE preferred

Tools

Excel

Job description

Position Title: Director of Asset Management – ESLDepartment: Evergreen Senior Living (ESL)Reports To: VP of Development (ESL)Location: Chicago, IL (hybrid), with regular travel to Ohio and Indiana communitiesFLSA Status: ExemptSalary Range: $165,000 – $185,000 + Bonus StructureJob SummaryEvergreen Real Estate Group is scaling a pipeline of 4% LIHTC Affordable Assisted Living (AAL) communities across Ohio under the Green Oaks brand, alongside an operating portfolio of assisted living communities in Indiana and Illinois. All communities are operated by third-party operators, led by Gardant Management Solutions.Evergreen Senior Living (ESL) is seeking a Director of Asset Management to own the performance of this portfolio from the ownership seat. The Director sets portfolio strategy, owns the leadership-level relationship with our operating partners, builds the analytical and reporting infrastructure the portfolio needs as it grows, and translates operator data into ownership decisions and clear narratives for lenders, investors, and Evergreen leadership. The Director manages the Manager of Assisted Living Asset Management, who runs day-to-day operator calls, site visits, and property-level follow-through.Key ResponsibilitiesPortfolio Strategy & PerformanceOwn asset-level business plans and portfolio strategy; monitor census and payor mix (private pay and Medicaid waiver), rate, labor, expenses, reserves, and NOI versus proformaMaintain a watchlist for underperforming and lease-up assets; build turnaround plans with the operator and hold both sides to themPresent portfolio performance, risks, and recommended actions to ESL leadership and Evergreen's executive teamOperator Relationship ManagementOwn the leadership-level relationship with Gardant and any future operating partners — a standing relationship held by ownership, independent of any individual dealRun structured business reviews with operator leadership; set performance expectations and hold operators accountable to management agreement termsIndependently verify operator reporting; evaluate operator effectiveness and recommend changes — to terms, scope, or manager — when performance warrantsFinancial Analysis & ReportingOwn the consolidated assisted living portfolio report: monthly financial review, variance analysis, and reforecasts for ESL leadershipBuild programmatic, portfolio-wide analysis — Medicaid rate and policy changes, labor and expense benchmarking, proforma versus actual — that turns property data into portfolio decisionsEstablish reporting processes and tools that scale with the pipeline; support underwriting of new deals with assumptions grounded in actual portfolio performanceLease-Up, Stabilization & StakeholdersOwn ownership-side oversight of openings and lease-up through stabilization, including census ramp targets and marketing accountabilityTrack occupancy and stabilization tests, guaranty exposure, and reserve levels against loan and partnership requirementsServe as ESL's primary asset management contact for lenders, investors, syndicators, and agencies post-closing; resolve data and methodology disputesTeam Leadership & Function BuildingManage and develop the Manager of Assisted Living Asset Management; build the systems, processes, and eventual team the function needs as the portfolio growsCoordinate with Evergreen's corporate asset management, accounting, and compliance functions so the assisted living portfolio is fully integrated in company-wide reportingEducation & ExperienceBachelor's degree required; MBA, MSRE, or related graduate degree a plus10+ years of ownership-side asset management or portfolio management experience in real estate — senior housing, assisted living strongly preferredDemonstrated experience overseeing third-party operators or property managers, including holding operator leadership accountable to performance expectationsWorking knowledge of Medicaid waiver assisted living and/or LIHTC structures strongly preferredTechnical & Physical SkillsStrong financial analysis skills; fluent in operating statements, proformas, and partnership and loan documents, and able to audit an operator's numbers independentlyAble to build useful reporting from imperfect operator dataOther RequirementsAbility to travel regularly to communities in Ohio and Indiana and to operator, lender, and investor meetings — typically several days per month, flexing with openings and portfolio needsSkillsClear, concise communication for ownership, lender, and investor audiencesStrategic thinking with the ability to translate data into ownership decisionsPartner accountability — comfortable holding operator leadership to agreed expectationsPeople leadership and coachingBuilder mindset — creating systems and processes that scale with a growing portfolioWork Environment & Physical DemandsBased at Evergreen's corporate office in Chicago on a hybrid schedule, with regular travel to communities in Ohio and Indiana and to operator, lender, and investor meetings. Work is primarily performed in a professional office setting and requires extended periods of computer use, along with periodic site visits to assisted living communities.Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.