Director Of Asset Management

BANNER PROPERTY MANAGEME•Chicago, IL

1d•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, including development, lease-up, stabilization, refinancing, repositioning, and disposition. 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 Director will collaborate with operating teams, third-party operators, capital partners, and cross-functional colleagues to improve property performance and bring new developments online. The role also hires, mentors, and develops asset management associates and analysts. 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.
Experience integrating newly acquired assets into a portfolio and leading valuations, dispositions, and refinancings.
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 DCF modeling, JV structures, distribution waterfalls, and metrics such as IRR, DSCR, debt yield, and NOI.
Success managing institutional equity partners, lenders, and other capital relationships.
Strong communication, analytical, and negotiation skills, with the ability to balance strategic planning and hands-on execution.
Experience leading, mentoring, and developing a team.
Willingness to travel for property visits, investor meetings, and conferences.
Successful completion of a background check for final candidates.

Nice To Haves

Multifamily, self-storage, and/or real estate development experience is strongly preferred.
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 NOI, 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 BOVs, 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 regular property visits and evaluate 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 JV partners, lenders, and investors on asset performance and investment strategy.
Monitor compliance with loan covenants and equity partnership requirements, including DSCR testing.
Partner with accounting to deliver accurate 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 to support successful lease-up and long-term asset performance.
Hire, mentor, and develop asset management associates and analysts.
Collaborate with the CIO and cross-functional legal, accounting, investments, development, and property management teams.
Represent Banner at industry events and cultivate relationships with brokers, lenders, investors, and other industry partners.