DIRECTOR OF ASSET MANAGEMENT

BANNER PROPERTY MANAGEME LLC•Chicago, IL

2d•$150,000 - $185,000•Hybrid

About The Position

Banner Property Management, LLC is seeking a Director of Asset Management to drive investment performance and maximize value across a growing portfolio of multifamily, self-storage, and other real estate assets. Reporting to the Senior Vice President of Asset Management, this role leads asset-level strategy, identifies opportunities to enhance returns, manages investment risk, and guides properties through the investment life cycle—from development and lease-up through stabilization, refinancing, repositioning, and disposition. The Director will develop business plans, lead valuations and financial analysis, oversee operating performance, manage capital partner relationships, and bring new developments into lease-up and stabilized operations. The role also involves hiring and developing asset management staff and collaborating with cross-functional teams. The current portfolio includes 16 multifamily communities totaling 3,100 units, five self-storage assets in lease-up or stabilization, two self-storage developments and two multifamily developments expected to enter lease-up within three months, and one senior housing asset. The position is hybrid in Chicago, with in-office work Monday through Thursday, and requires travel for property tours, investor meetings, and conferences.

Requirements

At least 5 years of institutional real estate experience.
Bachelor’s degree in business, real estate, finance, or a related field.
Demonstrated experience integrating newly acquired assets into a portfolio and leading valuations, dispositions, and refinancings.
Proven ability to manage assets throughout the investment life cycle, from lease-up and stabilization through repositioning, refinancing, and disposition.
Strong financial modeling and investment analysis skills, including discounted cash flow modeling, joint venture structures, distribution waterfalls, and metrics such as IRR, DSCR, debt yield, and NOI.
Demonstrated success managing institutional equity partners, lenders, and other capital relationships.
Strong communication, analytical, and negotiation skills, and ability to balance strategic planning with hands-on execution.
Experience leading, mentoring, and developing a team.
Willingness to travel for property visits, investor meetings, and conferences.

Nice To Haves

Multifamily, self-storage, and/or real estate development experience.
Advanced degree in business, finance, real estate, or a related field.
Experience overseeing multiple asset classes and managing third-party operators.
Experience transitioning newly developed properties from construction and development into lease-up and stabilization.

Responsibilities

Develop and execute short- and long-term business plans to increase net operating income, improve asset performance, and maximize property value.
Lead asset valuations, financial modeling, market analysis, and performance benchmarking.
Conduct hold/sell analyses and monitor realized and unrealized investment returns.
Lead dispositions, refinancings, and recapitalizations, including broker opinions of value, negotiations, due diligence, and closing activities.
Partner with multifamily operations and third-party self-storage operators to optimize leasing, occupancy, operating expenses, and capital improvement programs.
Oversee annual budgeting and financial forecasting, and recommend capital expenditure and renovation strategies.
Conduct property visits and assess competitive market conditions to identify performance gaps and growth opportunities.
Evaluate and select third-party self-storage management companies and negotiate management agreements.
Serve as the primary contact for joint venture partners, lenders, and investors on asset performance and investment strategy.
Monitor compliance with loan covenants and equity partnership requirements, including debt service coverage ratio testing.
Partner with accounting to deliver monthly, quarterly, and annual financial and investment reporting.
Lead the transition of new multifamily and self-storage projects from development into lease-up and stabilized operations.
Collaborate with development, marketing, and property management teams on pre-leasing, market positioning, branding, and marketing strategies.
Establish performance expectations and business plans for successful lease-up and long-term asset performance.
Hire, mentor, and develop asset management associates and analysts.
Collaborate with the Chief Investment Officer and teams across legal, accounting, investments, development, and property management.
Represent Banner at industry events and cultivate relationships with brokers, lenders, investors, and other industry partners.