LivCor, a Blackstone Portfolio Company · 17 hours ago
Director - Asset Management, Texas
Dallas, TX
Full-time
Onsite
Director/Executive
7+ years expLivCor, a Blackstone portfolio company, is a real estate asset management business specializing in multi-family housing. The Director - Asset Management will be responsible for maximizing the value of the firm's assets by developing and executing an asset management strategy for their regional portfolio, collaborating with various departments, and overseeing financial performance and capital investment strategies.
Real Estate
Responsibilities
With a thorough knowledge of market performance and real estate operations, collaborate with portfolio strategy, investments, marketing, revenue management, accounting, financial planning & analysis, and capital investment departments to formulate and execute strategies intended to maximize portfolio value and report performance results to leadership
Leverage monthly and quarterly financial statements, business intelligence software, and a host of analytical tools to identify property and portfolio underperformance to budget and/or market benchmarks and collaborate with the relevant team members to correct issues
Incorporate a value-oriented approach to each asset by analyzing revenue opportunities and providing direction supported by financial models to justify major capital investments and financial decisions
Forge strong relationships with operating partners and can work through challenges and communicate concerns up internal and external chains of command when expectations are not being met
Conduct frequent physical inspections of each property in assigned portfolio to develop a thorough understanding of each property and its challenges, assess implementation of strategic initiatives, assess operational and management performance, and identify opportunities for improvement and communicate those opportunities among relevant internal and external teams
In collaboration with the CapEx team, assess the capital needs/expenditures by property and work with capital investment team to develop a long-term capital plan for the portfolio that corresponds to stated strategy
Identify and oversee repositioning opportunities. Monitor market trends for opportunities to add value through renovation, expansion or repositioning of the assets and make recommendations accordingly. Supervise scope development, including opining on rent premiums, and ongoing implementation to ensure ROI expectations are consistently met
Take active role in creation of annual operating and capital budgets. Collaborate with teams and impart property and market knowledge to create comprehensive budgets that meet targeted investment strategies and objectives
Become an expert on assigned markets through on-site visits, in-depth analysis of industry trends and economic drivers, and maintenance of industry network then collaborate with executives to implement adjustments to property strategy to account for market shifts
Support Blackstone on acquisition underwriting, providing market and leasing assumptions and participating in other due diligence activities, as necessary
Lead the Capital Investment and the Renovation Investment Strategy of each community
Participate in evaluating and make recommendations for the implementation of various new products and services intended to grow ancillary income, reduce operating expenses, or create operational efficiencies
Identify opportunities, initiatives and projects to continue to drive performance of the larger asset management department
Mentor and develop analysts, leads and managers in the department and across supporting teams
Active participation in local industry organizations is encouraged
Maintain an extensive network of industry relationships to say current on regional and local market trends
20-25% travel required
Qualification
Required
Bachelor's degree, preferably in Business, Finance, Real Estate, or other relevant area
7+ years of acquisition or asset management experience for a regional portfolio of 5,000 – 7,000+ units, with mixed-use retail, and in multiple MSA's, preferably with experience in Texas
Familiarity with the general principles of real estate, including operations and analysis, budgeting, financial reporting, cash management and general accounting
Ability to communicate complex issues effectively and professionally, both verbally and in writing
Effective interpersonal, communication and listening skills necessary to form strong working relationships with all levels of management and throughout the various cross functional teams
Strong understanding of general construction and redevelopment terminology and understanding of standard multifamily capital enhancement/improvement projects
Ability to understand and interpret market trends, third party market reports, and operator market competitor surveys
Ability to define, develop, and execute asset management strategy, by leveraging and managing 3rd party property management teams
Familiarity with investment due diligence process along with the ability to provide local market leasing assumptions and competitive intelligence
Strong self-starter that thrives in a fast paced, dynamic environment with multiple and evolving priorities and deadlines
Benefits
Competitive pay that is commensurate with the market and relevant experience
A full slate of benefits
Company
LivCor, a Blackstone Portfolio Company
LivCor, a Blackstone portfolio company, is a real estate company specializing in multi-family housing.
201-500 employees
H1B Sponsorship
LivCor, a Blackstone Portfolio Company has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2023 (5)
Funding
Current Stage
Growth StageLeadership Team
Sarah Naqvi
Chief Technology Officer
Kristen Ross
People Business Partner
Company data provided by crunchbase