VP of Asset Management

Evergreen Real Estate Group; Chicago (IL); Hybrid; USD 180,000 - 210,000; Full time

Job summary

Evergreen Real Estate Services is seeking a strategic, systems-oriented Vice President of Asset Management to lead a growing national affordable housing portfolio, including assisted living communities.

The role focuses on driving long-term asset value, implementing ownership-level strategies, and partnering with executives, investors, and lenders. Hybrid Chicago location with a strong emphasis on data-driven decision making.

Qualifications

• Bachelor’s or Master’s degree in Finance, Real Estate, Business Administration, or related field preferred.
• 7+ years of progressive experience in affordable housing asset management or related ownership-side roles.
• Experience with LIHTC, HUD, and affordable housing operations.
• Leadership or department-building experience preferred.

Responsibilities

• Develop, maintain, and communicate asset-level business plans aligned with financial and operational goals.
• Monitor occupancy, collections, expenses, reserves, capital needs, and compliance; provide ownership-level insights.
• Lead portfolio reporting; present risks, opportunities, and action plans to senior leadership.
• Collaborate with other teams to support acquisitions, transitions, and integrations.
• Oversee financial strategy for refinancing, recapitalizations, Year 15 transitions, and dispositions.

Skills

Strategic asset thinking

Financial & analytical acumen

Ownership mindset

Execution

Cross-functional leadership

Systems thinking

Stakeholder communication

Regulatory & industry expertise

Adaptability

Education

Bachelor’s or Master’s in Finance/Real Estate/Business Admin

Job description

Position Title: Vice President of Asset ManagementDepartment: Asset ManagementReports To: Chief Executive Officer (current) or Chief Operating Officer (once hired)Location: Chicago, IL (Hybrid)FLSA Status: ExemptSalary Range: $180,000 – $210,000 (plus 25%–30% bonus potential)Job SummaryEvergreen Real Estate Services is seeking a strategic, systems-oriented Vice President of Asset Management to lead and build a best-in-class asset management function for a growing national affordable housing portfolio, including assisted living communities. Evergreen companies own 66 developments across the US with 8,000 units and closes on approximately 10-14 new properties annually. While most properties are property managed in-house, several are managed by third parties.This role operates from a true ownership perspective, with primary responsibility for driving long-term asset value, financial performance, and investment outcomes across the portfolio. The VP of AM will translate property-level data into actionable business decisions, guide asset-level strategy and performance oversight, support acquisitions and integrations, and serve as a key partner to executive leadership, investors, and lenders.Evergreen currently has some asset management functions handled by different business units. The goal is to centralize, professionalize, and expand asset management’s role in the organization to protect and improve the growing portfolio.Key ResponsibilitiesPortfolio Strategy & Ownership OversightDevelop, maintain, and communicate asset-level business plans aligned with financial and operational goalsMonitor performance across occupancy, collections, expenses, reserves, capital needs, and complianceProvide ownership-level insight and recommendations on portfolio strategy and asset performanceLead portfolio reporting and present risks, opportunities, and action plans to senior leadershipParticipate in the Evergreen Leadership Team (using EOS as a platform)Set and track 90 day “rocks” that support completion of longer-term company goalsCollaborative with rest of senior leadership to identify and solve problemsCommunicate and execute goals throughout the Asset Management functionsFinancial Performance & Risk ManagementReview monthly financials, variances, and reforecasts; identify trends and recommend solutionsProvide oversight for third party property managersComplete HUD rent increase requests to maximize revenueEstablish reporting processes that support decision-making without overburdening operationsReview and analyze property operating budgets, reserve levels, and capital needs to evaluate financial performance and support ownership-level asset strategyLead and execute financial strategy for refinancing, recapitalizations, Year 15 transitions, and dispositionsTrack and oversee property tax incentives across the portfolioEvaluate and recommend AI options to improve information assessment and reduce time requirements for asset management tasksAsset Integration & Business Plan ExecutionSupport due diligence activities for acquisitions, transitions, and integrations by reviewing operational, financial, compliance, and physical asset information and identifying potential risks or performance concernsPartner with property management, accounting, compliance, and operations teams to support implementation of operating plans, financial goals, and performance expectations for newly onboarded assetsAddress stabilization challenges through coordinated, actionable solutionsCompliance & Regulatory OversightPartner closely with the Compliance team to monitor regulatory performance, identify compliance-related risks, and support resolution planning for LIHTC, HUD, and other affordable housing programsPartner with internal teams to strengthen tracking of reporting deadlines and requirementsMonitor compliance risks and ensure appropriate escalation and resolutionCapital Planning & Physical Asset OversightEvaluate capital needs and priorities with operations and facilities teamsSupport financial and operational strategy related to refinancing, recapitalizations, Year 15 transitions, and dispositions in partnership with preservation, development, and executive leadership teamsReview reserve usage, capital projects, and long-term asset preservation strategiesConduct periodic and strategic site visits as needed to assess overall asset condition, operational challenges, and performance trendsWatchlist, Turnaround & Manager OversightEstablish and manage a watchlist for underperforming or high-risk assetsDevelop and guide turnaround strategies for operational or financial challengesEvaluate effectiveness of property management (including third-party managers)Recommend management changes when necessaryStakeholder CommunicationServe as a primary contact for investors, lenders, and financial partners post-stabilizationDevelop clear ownership narratives for performance issues and strategic decisionsPresent recommendations to internal and external stakeholdersDepartment Leadership & Process DevelopmentBuild scalable systems, reporting tools, and processes for asset managementPartner with IT and internal teams to improve data and reporting capabilitiesHelp define future staffing needs and support department growthSupport organizational alignment by reinforcing structured goal-setting, accountability, and performance tracking frameworks (e.g., EOS or similar systems)Evergreen Real Estate Group has 7 Core Values that the VP of AM needs to align with:Commitment to Excellence: In order to succeed, we need to be the best at what we do. We show up every day and pursue excellence.No Drama: We bring a positive, productive attitude to challenges and focus on solutions, without blame, deflection, or negativity.One Team, One Mission, One Evergreen: Every role is essential to our success, and together we achieve more than any of us could alone.Find A Way: We face every challenge with determination, creativity, and resilience.Grow Grow Grow: Growth creates opportunity for the company, the mission, and each of us individually.Entrepreneurial Spirit: We bring our best ideas to drive growth, spark innovation, and improve results.Care Deeply: We care deeply about our residents, communities, and each other.Education & ExperienceBachelor’s or Master’s degree in Finance, Real Estate, Business Administration, or related field preferred7+ years of progressive experience in affordable housing asset management or related ownership-side rolesStrong experience with LIHTC, HUD, and affordable housing operationsExperience with financial analysis, portfolio oversight, and capital strategyPrior leadership or department-building experience preferredLicenses & CertificationsRelevant professional certifications or designations in real estate, finance, or asset management are a plus (e.g., CFA, CPA, CCIM, or similar)Technical & Physical SkillsStrong financial analysis and modeling skillsAbility to interpret complex property financials and performance dataProficiency in property management and financial reporting systemsAbility to travel for site visits as neededOther RequirementsThis role operates cross-functionally in partnership with Property Management, Compliance, Facilities, Accounting, and Development teams and is primarily focused on ownership-level asset strategy, financial performance, and risk oversight.Ability to operate at both strategic and operational levelsStrong cross-functional collaboration skillsExperience working with third-party management companies preferredSkillsStrategic Asset Thinking -Ability to evaluate property performance from an ownership perspective, connect financial, operational, and physical indicators, and translate insights into clear, actionable strategies that drive long-term asset value.Financial & Analytical Acumen - Strong ability to interpret complex financials, identify trends and risks quickly, and move from analysis to execution. Demonstrates sound judgment in budgeting, forecasting, capital planning, and investment decisions.Ownership Mindset & Accountability - Approaches decisions with an investor mindset, taking full ownership of outcomes. Holds self and others accountable for performance, follow-through, and results across the portfolio.Execution & Problem-Solving - Proactively identifies issues and drives solutions, particularly in underperforming or complex assets. Balances urgency with thoughtful decision-making and follows through to resolution.Cross-Functional Leadership - Effectively partners across property management, development, accounting, compliance, and facilities to align priorities, resolve challenges, and drive performance. Leads through influence, not just authority.Systems Thinking & Process Development - Ability to build structure in a growing organization by developing scalable systems, processes, and reporting frameworks that improve consistency, visibility, and decision-making.Stakeholder Communication & Influence - Communicates clearly and confidently with internal leadership, investors, and external partners. Able to present complex information in a concise, actionable way and influence key decisions.Regulatory & Industry Expertise - Demonstrates strong working knowledge of affordable housing programs (LIHTC, HUD, etc.) and integrates compliance considerations into asset strategy and risk management.Adaptability & Growth Orientation - Thrives in a fast-paced, evolving environment. Comfortable navigating ambiguity and helping scale processes, teams, and infrastructure as the organization grows.Work Environment & Physical DemandsThis role operates in a professional office environment with periodic travel to property sites. Responsibilities may include walking properties, evaluating physical conditions, and attending onsite meetings. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions