Senior Asset Manager - Purpose-Built Student Housing & Market Rate Multifamily

Gilbane Development Company•Boston, MA

14d•$105,000 - $167,000

About The Position

The Senior Asset Manager oversees the day-to-day performance of an assigned portfolio of purpose-built student housing and market rate multifamily properties, serving as the primary owner representative and directing third-party property managers. The role executes approved business plans, identifies risks and opportunities, and drives operating performance and long-term asset value. Reporting to the Director of Asset Management, the position exercises independent judgment over day-to-day asset matters and collaborates with the Director on portfolio strategy, material decisions, and matters requiring senior-level approval. The work spans development, lease-up, stabilization, transition, repositioning, and disposition. It requires close coordination with Leasing & Revenue, Development, Construction, Acquisitions, Capital Markets, Finance, Accounting, and third-party operators. This hands-on role includes regular property engagement and requires balancing immediate operating priorities with longer-term investment objectives. The Senior Asset Manager develops and monitors budgets, forecasts, capital plans, performance reports, and market analysis; oversees operators and leasing performance; supports investment and investor activities; and improves reporting, analytics, and portfolio governance. The position reports to the Director of Asset Management. Salary is $105,000 to $167,000, determined in part by geographic location, skills, education, experience, and internal equity. Gilbane offers health and welfare benefits, a profit-sharing/401(k) plan, and employee education through Gilbane University. Qualified applicants who receive an offer must pass a pre-employment substance abuse test. Periodic travel for property oversight and stakeholder engagement is required.

Requirements

Bachelor's degree in Finance, Accounting, Economics, Real Estate, Business, or a related field.
At least 5 years of relevant experience in real estate asset management, investments, acquisitions, development, or related functions.
Experience with market rate multifamily and/or purpose-built student housing assets.
Ability to independently oversee assigned assets, direct third-party managers, and execute approved business plans.
Strong understanding of property operations, leasing, budgets, forecasts, capital planning, and financial performance.
Proven ability to analyze financial statements, operating reports, market dynamics, and underwriting assumptions.
Strong financial modeling skills and advanced Excel and PowerPoint proficiency.
Experience with property management systems, market research, and reporting or analytics tools.
Strong communication, organizational, and cross-functional relationship skills, including the ability to manage competing priorities.
Willingness to travel periodically for property oversight and stakeholder engagement.

Nice To Haves

Experience with both student housing and market rate multifamily, including development lease-ups or repositioning.
Familiarity with joint ventures, debt compliance, institutional reporting, and investment performance metrics.
Experience with Yardi, Entrata, RealPage, CoStar, Power BI, or comparable platforms.
Experience supporting underwriting, asset-level cash flow projections, and capital investment analysis.

Responsibilities

Develop and execute asset business plans aligned with underwriting, ownership objectives, and investment strategy.
Evaluate asset performance and value creation opportunities with the Director; recommend business plan adjustments, risk mitigation, and corrective strategies.
Support Development, Acquisitions, and Capital Markets with due diligence, market analysis, operating assumptions, and investment evaluations.
Develop recovery strategies for underperforming assets and direct execution of approved action plans.
Serve as the primary day-to-day owner representative for assigned properties and direct execution of approved business plans and operating priorities.
Monitor financial and operating results against budgets, underwriting, and prior periods, including revenue, expenses, NOI, occupancy, rents, concessions, leasing, collections, and cash flow.
Diagnose variances, identify emerging risks, and direct corrective actions to improve performance and protect value.
Lead stabilization, repositioning, and leasing recovery initiatives; escalate material risks and strategic changes to the Director.
Prepare monthly and quarterly performance reports, forecasts, and business plan updates with recommendations and next steps.
Direct third-party property management companies by setting expectations, priorities, performance measures, and accountability through regular reviews.
Evaluate leasing, revenue management, expense control, collections, resident experience, and operational execution.
Oversee student housing milestones, including preleasing, renewals, summer turn, and fall move-in readiness.
Authorize operator actions within approved budgets and delegated authority; escalate material deviations and recommend management changes when warranted.
Track submarket supply, absorption, vacancy, rents, concessions, competition, employment, and enrollment trends to assess opportunities and risks.
Conduct research and advise internal teams on market assumptions, asset positioning, development decisions, and investment strategy.
Use financial models, property management systems, market research platforms, and business intelligence tools to identify trends and guide decisions.
Improve dashboards, reporting, and analytical workflows; help establish consistent KPIs and reliable information for decision-making.
Lead preparation and ongoing management of operating budgets, forecasts, and multi-year capital plans, subject to Director review and required approvals.
Challenge assumptions and evaluate capital requests against asset performance, hold strategy, competitive position, operating needs, timing, and expected returns.
Authorize routine operating and capital decisions within delegated limits; recommend material expenditures and budget changes for approval.
Monitor approved capital programs against schedules, budgets, and expected outcomes.
Prepare asset-level financial analysis, performance narratives, and reporting for leadership, Capital Markets, investors, and lenders.
Support investor diligence, property tours, refinancings, and strategic discussions, communicating risks, results, and recommendations in coordination with the Director.
Coordinate Leasing & Revenue, Finance, Accounting, Development, Construction, Capital Markets, and operators to resolve issues and execute asset priorities.
Partner with Finance and Accounting on cash flow forecasts, distributions, debt compliance, reserves, and ownership reporting.
Provide operating insights and market intelligence for cross-functional business and investment decisions.
Improve asset management processes, performance dashboards, reporting standards, and portfolio governance.
Share expertise with junior colleagues and partners, reinforcing accountability, analytical rigor, and follow-through.