VP, Asset Management, Self-Storage

Heitman LLC; Chicago (IL); Hybrid; USD 160,000 - 190,000; Full time

Job summary

Heitman LLC in Chicago seeks an experienced Asset Manager to lead self-storage portfolio strategy within our North America private equity team. You will collaborate with Portfolio Management, Acquisitions, and Financial Operations to optimize asset performance.

You will manage budgets, valuations, and leasing plans, lead financial modeling and data-driven decisions, and build relationships with joint venture partners and property management teams in a hybrid Chicago office environment.

Qualifications

• Minimum 10 years real estate investment experience.
• At least 5 years asset management experience, preferably in self-storage.
• Define, develop, and execute asset management strategies including third-party management and JVs.
• Analyze market trends, reports, and competitor surveys.
• Budgeting and financial reporting expertise with large data analysis.
• Strong interpersonal and collaborative skills.
• Communicate complex issues clearly, in writing and verbally.
• Knowledge of construction and redevelopment terminology.
• Leadership and mentoring capabilities for junior team members.
• Experience in investment due diligence with local market leasing assumptions.
• Real estate valuation and appraisal techniques proficiency.
• Advanced financial modeling; Power BI is a plus.
• Experience with management agreements and joint venture documents.

Responsibilities

• Manage a diverse real estate portfolio focused on self-storage.
• Implement asset management strategies including income/expense forecasting and capital budgeting.
• Plan and organize asset objectives and resources to meet financial goals.
• Evaluate performance against budgets, business plans, and benchmarks.
• Utilize data analytics to inform asset-level strategy and drive performance.
• Oversee operating strategies with property management teams and JV partners.
• Monitor value-add initiatives and ensure accretive returns.
• Prepare and oversee annual budgets, valuations, and leasing plans.
• Lead financial analysis and modeling to support decisions.
• Assess property performance and identify optimization opportunities.
• Gain market expertise through site visits and industry analysis.
• Conduct regular property inspections and coordinate with third-party teams.
• Support acquisitions with market and leasing assumptions; participate in due diligence.
• Serve as primary relationship manager for JV partners.
• Lead disposition efforts, broker selection, pricing, and marketing.
• Assist in financings and refinancings with capital markets and legal teams.
• Prepare strategic recommendations for senior leadership and investment committees.

Skills

Asset management

Financial modeling

Budgeting

Market analysis

Leadership

Communication

Team collaboration

Due diligence

Real estate valuation

JV oversight

Negotiation

Tools

Power BI

Job description

Heitman is seeking an experienced Asset Manager to join our team . The ideal candidate will bring their subject matter expertise within the Self-Storage asset class to our North American private equity team to effectively manage our assets within clients’ portfolios. This role will be highly collaborative, and the successful candidate will be impactful in building relationships with internal teams including Portfolio Management, Acquisitions, and Financial Operations & Analysis, as well as effectively partner with external stakeholders including joint venture partners and property management.

R esponsibilities include, but are not limited to:

• Manage a diverse real estate portfolio focused on s elf- s torage .
• Implement asset management strategies, including income and expense forecasting, capital budget, value creation activity, and risk return analysis for assets.
• Plan and organize asset objectives and resources to meet asset needs and financial objectives.
• Evaluate performance against budgets, business plans, and internal/external benchmarks, and proactively adjust strategies to optimize outcomes.
• Utilize data analytics to inform asset-level strategy, identify trends, and drive performance improvements.
• Establish operating strategies and closely monitor property management teams and joint venture partners to ensure alignment and execution.
• Implement and monitor value-add strategies, including property expansions, unit reconfigurations and product improvement plans , ensuring initiatives are executed efficiently and result in accretive returns.
• Prepare and oversee annual budgets, valuations, appraisals, and leasing plans for assigned assets.
• Lead financial analysis and modeling to support asset-level decision-making and portfolio strategy.
• Assess current and projected performance of properties, identifying opportunities for enhancement or repositioning.
• Gain deep market expertise through site visits, industry analysis, and networking; collaborate with internal and external teams to adjust strategies based on market dynamics.
• Conduct regular property inspections to understand challenges, assess business plan, evaluate operational performance of third-party teams, identify improvement opportunities, and communicate findings.
• Support acquisitions team for new investment underwriting, providing market and leasing assumptions and participating in due diligence activities, as necessary.
• S erve as the primary relationship manager for joint venture partners, facilitating strategic alignment, reporting, and collaborative decision-making.
• Lead disposition efforts, including broker selection, pricing strategy, marketing oversight, and transaction execution.
• Assist in executing financings and refinancings, working closely with capital markets, legal, and finance teams
• P repare and p resent strategic recommendations and performance updates to senior leadership and investment committees.

Qualifications :

• Minimum 10 years of relevant real estate investment experience, with 5 years of asset management experience with a preference for candidates with Self Storage experience. T itle and years of experience may vary based on scope and complexity of prior roles.
• Proven ability to define, develop, and execute asset management strategies, including oversight of third-party property management and joint venture partners.
• Ability to analyze and interpret market trends, third-party reports, and competitor surveys.
• Strong knowledge and experience with budgets and overall financial reporting, with an ability to analyze large amounts of data and obtain improvement opportunities.
• Strong interpersonal skills with an ability to collaborate with others .
• Skilled in communicating complex issues clearly and professionally, both verbally and in writing
• Knowledge of construction and redevelopment terminology, with a strong understanding of standard capital real estate capital projects.
• Demonstrated leadership and mentoring capabilities, with the ability to guide and develop junior team members.
• Experienced in the investment due diligence process with the ability to provide local market leasing assumptions and competitive insights.
• Proficient in real estate valuation and appraisal techniques and processes.
• Advanced financial modeling skills with the ability to translate quantitative data into actionable insights; experience with Power BI is a plus.
• E xperience working with legal documentation including management agreements, joint venture documents, loan agreements, Purchase and sale agreements and other asset-related legal instruments.

Job Location and Travel

• This position is based in our Chicago office.
• Our teams work in a hybrid environment and in-office days vary by team.
• Moderate to extensive travel required.

At Heitman, we believe that our success is driven by the success of our team members . That's why we use market data to ensure competitive compensation for every role, reflecting our commitment to investing in our team. When we grow, you grow !

The expected annual base salary range for this role is $160,00-$190,000 and will be further discussed during the interview process. This range represents what Heitman reasonably and in good faith believe s we would pay a qualified candidate for this role at the time of posting (based on a full-time equivalent schedule). Your actual base salary placement will depend on factors such as (but not limited to): your relevant experience, time in role, base salary of internal peers, prior performance, business sector, and geographic location. In addition , all of our team members are bonus eligible and participate in a generous annual bonus plan , with the percentage varying based on your role and level, ensuring that your contributions are recognized and rewarded.

Additional Information

Candidates applying for roles requiring travel must hold a valid, non-expired driver’s license.

Equal Employment Opportunity: Heitman is an equal employment opportunity employer and complies with all applicable laws prohibiting discrimination based on race, color, creed, religion, sex, age, national origin or ancestry, physical, medical or mental disability or condition (including, without limitation, HIV and AIDS), developmental disability, handicap, denial of family and medical care leave, denial of pregnancy leave, domestic partner status, status as a victim of sexual or domestic violence (or familial relationship to such victim), veteran status, marital status, sexual orientation, arrest records, citizenship status, criminal history that has been expunged, unfavorable discharge from the military, or any other basis protected by federal, state or local laws.