VP, Asset Management, Multifamily

Heitman•Chicago, IL

3d•Hybrid

About The Position

Heitman is seeking a seasoned Asset Manager to join our North American Private Equity team. We’re looking for a strategic and results-driven professional with deep expertise in the multifamily asset class to oversee and optimize performance across our clients’ multifamily portfolios. This highly collaborative role will require strong relationship-building skills and the ability to work cross-functionally with internal teams—including Portfolio Management, Acquisitions, and Financial Operations & Analysis—as well as external partners such as joint venture stakeholders and third-party property managers. The ideal candidate will bring a proactive, analytical mindset and a passion for driving value across diverse assets.

Requirements

Minimum 10 years of professional real estate experience with at least 5 years actively asset managing multifamily assets.
Title and years of experience may vary based on scope and complexity of prior roles.
Proven ability to define, develop, and execute asset management strategies, including oversight of third-party property management and joint venture partners.
Strong understanding of value-add strategies, including unit and common area renovation programs, with a track record of delivering accretive returns.
Experience leading disposition efforts and supporting financing/refinancing transactions, including coordination with capital markets, legal, and finance teams to ensure the financing closes successfully.
Skilled in analyzing and interpreting market trends, third-party reports, and competitive surveys to inform strategic decisions.
Deep knowledge of budgeting, financial reporting, and performance analysis, with the ability to identify operational improvement opportunities
Strong interpersonal and relationship management skills, with the ability to collaborate across internal teams and external partners.
Effective communicator with the ability to clearly and professionally present complex issues both verbally and in writing.
Familiarity with construction and redevelopment terminology, and a solid understanding of real estate capital projects.
Experienced in investment due diligence, including providing market insights, leasing assumptions, and competitive positioning.
Demonstrated leadership and mentoring capabilities, with the ability to guide and develop junior team members.
Proficient in real estate valuation and appraisal techniques and processes.
Advanced financial modeling skills (ARGUS, Microsoft Excel), with the ability to translate quantitative data into actionable insights; experience with Power BI is a plus.
Experience working with legal documentation including management agreements, joint venture documents, loan agreements, Purchase and sale agreements and other asset-related legal instruments.
Familiarity with apartment-focused proptech solutions and platforms, with an understanding of how technology can enhance operational efficiency and asset performance.

Responsibilities

Manage a diverse real estate portfolio focused on Apartments, with strategic oversight and accountability for performance.
Implement asset management strategies including income and expense forecasting, leasing plans, capital budgets, value creation initiatives, and risk-return analysis.
Evaluate performance against budgets, business plans, and internal/external benchmarks, and proactively adjust strategies to optimize outcomes.
Utilize data analytics to inform asset-level strategy, identify trends, and drive performance improvements.
Establish leasing strategies and closely monitor property management teams and joint venture partners to ensure alignment and execution.
Implement and monitor value-add strategies, including unit and common area renovation programs, ensuring initiatives are executed efficiently and result in accretive returns.
Prepare and oversee annual budgets, valuations, appraisals, and leasing plans for assigned assets.
Lead financial analysis and modeling to support asset-level decision-making and portfolio strategy.
Assess current and projected performance of properties, identifying opportunities for enhancement or repositioning.
Gain deep market expertise through site visits, industry analysis, and networking; collaborate with internal and external teams to adjust strategies based on market dynamics.
Conduct regular property inspections to evaluate operational performance, assess business plan execution, and identify improvement opportunities.
Support the acquisitions team by contributing market insights, leasing assumptions, and participating in due diligence for new investments.
Serve as the primary relationship manager for joint venture partners, facilitating strategic alignment, reporting, and collaborative decision-making.
Lead disposition efforts, including broker selection, pricing strategy, marketing oversight, and transaction execution.
Assist in executing financings and refinancings, working closely with capital markets, legal, and finance teams
Prepare and present strategic recommendations and performance updates to senior leadership and investment committees.

Benefits

At Heitman, we believe that our success is driven by the success of our team members . That's why we use market data to ensure competitive compensation for every role, reflecting our commitment to investing in our team. When we grow, you grow !
In addition , all of our team members are bonus eligible and participate in a generous annual bonus plan , with the percentage varying based on your role and level, ensuring that your contributions are recognized and rewarded.
In alignment with our People First core value , we offer rewarding careers that focus on both personal and professional growth. We are dedicated to helping you and your family thrive, both in the office and at home. To support this, we provide competitive compensation and a leading-edge, human-centric benefits package.

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