Vice President – Transaction Management and Due Diligence (Real Assets)

blueowl; Chicago (IL); On-site; USD 150,000 - 175,000; Full time

Job summary

Blue Owl is seeking a Vice President to join the Real Assets Transactions team in Chicago. The ideal candidate will have at least 7 years’ experience with commercial real estate acquisitions and a track record of leading due diligence from start to close.

Responsibilities include managing due diligence across multiple acquisitions, reviewing CAM packages, PSAs and leases, and mentoring analysts, with occasional travel. Base salary reflects Chicago market and discretionary bonus possibility.

Qualifications

• 7 years’ experience with commercial real estate acquisitions.
• Experience reviewing CAM reporting packages and CAM reconciliations.
• Experience with PSAs and leases; ability to abstract complex leases.

Responsibilities

• Lead property-level financial due diligence for acquisitions, including CAM, balance sheets and budgets.
• Manage multi-deal due diligence timelines with minimal supervision.
• Review environmental Phase I reports and evaluate risk levels with counsel.
• Oversee analysts and field questions from internal teams during active transactions.
• Prepare closing statements and coordinate with sellers.

Skills

Due diligence leadership

Strong judgment under pressure

Travel readiness

AI tools utilization

Education

Bachelor’s degree

Tools

CAM reporting software

Lease abstraction tools

Job description

Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®.

With over $319 billion in assets under management as of June 30, 2026, we invest across three multi-strategy platforms: Credit, Real Assets and GP Strategic Capital. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with over 1,380 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com

Blue Owl's Net Lease Real Assets Investment team is seeking a Vice President to join the Real Assets Transactions team. The ideal candidate will have at least 7 years’ experience with commercial real estate acquisitions.

Since its inception, our Real Assets platform has established itself as a leader in private equity real estate, offering flexible capital solutions to investment-grade and creditworthy tenants across asset classes and geographies. We seek to provide investors with predictable current income and the potential for appreciation while focusing on limiting downside risk.

Our core Net Lease real assets strategies focus on acquiring single-tenant, free-standing properties across industrial, essential retail, and office sectors that are net-leased, long-term, to investment grade and creditworthy tenants. This combination seeks to create predictable cash flow from long-term rents, providing investors with current income, net of fees, plus appreciation and limited downside risk.

Responsibilities:

• For acquisitions, lead property-level financial due diligence including review of CAM reporting packages, balance sheets, income statements and budgets. Prepare reconciliations/prorations with seller as needed at closing. Review Property Condition Assessments and quantify and model OpEx and CapEx exposure.
• Without direction or oversight, manage due diligence process and deadlines across multiple acquisitions, dispositions and financings, from the time a term sheet is signed until closing of escrow.
• Review environmental Phase I’s and, with advice of counsel and consultants, make determinations as to acceptable risk levels using sound judgment.
• Review and analyze legal due diligence issues raised by outside counsel and make determinations as to acceptable risk levels using sound judgment.
• Identify, track and resolve open issues identified for each transaction. Leverage strong organizational and follow through skills to drive a transaction to timely close.
• Prepare closing settlement statement for acquisitions, dispositions and financings.
• Oversee the work of analysts assisting on transactions.
• Field questions from other internal teams related to active or closed deals.
• Additional projects or support to the team as needed.

Qualifications:

• 7 years’ experience with commercial real estate acquisitions (including at least 5 years managing acquisitions without oversight).
• Substantial experience reviewing and analyzing CAM reporting packages and preparing CAM reconciliations or similar.
• Substantial experience with commercial real estate documents including PSAs and leases. Ability to review and abstract commercial real estate leases with fluency, identifying unusual or off-market provisions.
• Ability to work without oversight and confidently exercise business judgment as to issues that arise during a commercial real estate deal.
• Leverage AI as a tool to drive efficiency.
• Exceptional organizational skills and attention to detail.
• Ability to manage multiple transactions simultaneously, handling multiple competing urgent deadlines.
• Works with a sense of urgency as to all matters.
• Availability outside of standard business hours to meet transaction demands; high responsiveness to deal-related emails and messages.
• Ability to travel occasionally for site visits.
• Bachelor’s degree required.

It is expected that the base annual salary for this Chicago based position will be $150,000 - $175,000. Actual salaries may vary based on factors, such as skill, experience, and qualification for the role. Employees may be eligible for a discretionary bonus, based on factors such as individual and team performance.

Blue Owl is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.