Director of Asset Management

EVERGREEN REAL ESTATE SERVICES LLC•Chicago, IL

4d•Hybrid

About The Position

Evergreen Real Estate Services is seeking a strategic, systems-oriented Director 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. 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 Director 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.

Requirements

Bachelor’s degree in Finance, Real Estate, Business Administration, or related field required
7+ years of progressive experience in affordable housing asset management or related ownership-side roles
Strong experience with LIHTC, HUD, and affordable housing operations
Experience with financial analysis, portfolio oversight, and capital strategy
Strong financial analysis and modeling skills
Ability to interpret complex property financials and performance data
Proficiency in property management and financial reporting systems
Ability to operate at both strategic and operational levels
Strong cross-functional collaboration skills
Demonstrates strong working knowledge of affordable housing programs (LIHTC, HUD, etc.) and integrates compliance considerations into asset strategy and risk management.

Nice To Haves

Master’s degree preferred
Prior leadership or department-building experience preferred
Relevant professional certifications or designations in real estate, finance, or asset management are a plus (e.g., CFA, CPA, CCIM, or similar)
Experience working with third-party management companies preferred
Ability to travel for site visits as needed
Thrives in a fast-paced, evolving environment. Comfortable navigating ambiguity and helping scale processes, teams, and infrastructure as the organization grows.

Responsibilities

Develop, maintain, and communicate asset-level business plans aligned with financial and operational goals
Monitor performance across occupancy, collections, expenses, reserves, capital needs, and compliance
Provide ownership-level insight and recommendations on portfolio strategy and asset performance
Lead portfolio reporting and present risks, opportunities, and action plans to senior leadership
Review monthly financials, variances, and reforecasts; identify trends and recommend solutions
Establish reporting processes that support decision-making without overburdening operations
Review and analyze property operating budgets, reserve levels, and capital needs to evaluate financial performance and support ownership-level asset strategy
Lead and execute financial strategy for refinancing, recapitalizations, Year 15 transitions, and dispositions
Track and oversee property tax incentives across the portfolio
Evaluate and recommend AI options to improve information assessment and reduce time requirements for asset management tasks
Support due diligence activities for acquisitions, transitions, and integrations by reviewing operational, financial, compliance, and physical asset information and identifying potential risks or performance concerns
Partner with property management, accounting, compliance, and operations teams to support implementation of operating plans, financial goals, and performance expectations for newly onboarded assets
Address stabilization challenges through coordinated, actionable solutions
Partner closely with the Compliance team to monitor regulatory performance, identify compliance-related risks, and support resolution planning for LIHTC, HUD, and other affordable housing programs
Partner with internal teams to strengthen tracking of reporting deadlines and requirements
Monitor compliance risks and ensure appropriate escalation and resolution
Evaluate capital needs and priorities with operations and facilities teams
Support financial and operational strategy related to refinancing, recapitalizations, Year 15 transitions, and dispositions in partnership with preservation, development, and executive leadership teams
Review reserve usage, capital projects, and long-term asset preservation strategies
Conduct periodic and strategic site visits as needed to assess overall asset condition, operational challenges, and performance trends
Establish and manage a watchlist for underperforming or high-risk assets
Develop and guide turnaround strategies for operational or financial challenges
Evaluate effectiveness of property management (including third-party managers)
Recommend management changes when necessary
Serve as a primary contact for investors, lenders, and financial partners post-stabilization
Develop clear ownership narratives for performance issues and strategic decisions
Present recommendations to internal and external stakeholders
Build scalable systems, reporting tools, and processes for asset management
Partner with IT and internal teams to improve data and reporting capabilities
Help define future staffing needs and support department growth
Support organizational alignment by reinforcing structured goal-setting, accountability, and performance tracking frameworks (e.g., EOS or similar systems)