Asset Manager (Student Housing)

This Opportunity
 

Heitman is seeking an experienced Asset Manager to join our team. The ideal candidate will bring their subject matter expertise to our North American private equity team to effectively manage assets within clients’ portfolios. This role will be highly collaborative, and the successful candidate will play an important role in building relationships with internal teams, including Portfolio Management, Acquisitions, and Financial Operations & Analysis, as well as effectively partnering with external stakeholders in leasing and property management.

Responsibilities include, but are not limited to:

• Manage a diverse real estate portfolio focused on Student Housing.
• Implement asset management strategies, including income and expense forecasting, leasing plans, capital budgets, value creation activities, and risk-return analyses for assets.
• Plan and organize asset objectives and resources to meet asset needs and financial goals.
• Evaluate performance against budgets, business plans and internal and external benchmarks.
• Anticipate issues that could impact the success of the assets.
• Establish leasing strategies and closely monitor property management teams and/or joint venture partners.
• Prepare annual budgets, business plans, valuations, appraisals, and leasing plans for assets.
• Prepare financial analyses and modeling for asset management decision-making.
• Utilize data analytics regularly to inform asset-level strategy and drive performance.
• Assess the current and projected performance of properties.
• Partner with and oversee third parties responsible for day-to-day operations of the assets.
• Gain expertise in assigned markets through site visits, industry analysis, and networking; collaborate with internal and external teams to adjust property strategy for market shifts.
• Conduct regular property inspections to identify challenges, assess business plans, evaluate third-party operational performance, identify improvement opportunities, and communicate findings.
• Support the acquisitions team in new investment underwriting by providing market and leasing assumptions and participating in due diligence activities, as necessary.

Qualifications:

• Minimum 7 years of work experience and at least 5 years in real estate asset management, with a preference for candidates at AVP and VP levels. Years of experience for these levels can vary.
• Experience in Student Housing is strongly preferred. Experience in another property type is required.
• Ability to analyze and interpret market trends, third-party reports, and competitor surveys.Bottom of Form
• Knowledge and experience with budgets and overall financial reporting, with the ability to analyze large amounts of data and identify improvement opportunities.
• Experience in defining, developing, and executing asset management strategies by overseeing and managing third-party property management teams.
• Possess knowledge of real estate investment management trends.
• Strong interpersonal skills with the ability to collaborate with others.
• Skilled in communicating complex issues clearly and professionally, both verbally and in writing.
• Experience in the investment due diligence process with the ability to provide local market leasing assumptions and competitive insights.
• Understanding of various real estate valuation processes and techniques.
• Strong financial modeling skills (ARGUS, Microsoft Excel) and proven ability to translate quantitative data into a narrative; experience with Power BI is a plus.

Job Location and Travel

• This position is based in our Chicago office.
• Our teams work in a hybrid environment and in-office days vary by team.
• Moderate to extensive travel required.

We are looking for great candidates who have a unique combination of experiences, traits, and talents. We couldn’t describe you in a list of