LivCor, a Blackstone Portfolio Company · 4 hours ago
Director, Asset Management (Pacific Coast)
Los Angeles, CA
Full-time
Hybrid
Director/Executive
$180K/yr - $205K/yr
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 asset management strategies for the Pacific Coast region and collaborating with various internal teams to enhance portfolio performance.
Real Estate
Responsibilities
Develop strategic recommendations by understanding real estate operations, property nuances and data-driven trends, and local market dynamics
Collaborate with various internal teams, including: marketing, revenue management, accounting, financial planning & analysis, capital investment, investments, and portfolio strategy to formulate and execute strategies 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 performance relative to budget and/or market benchmarks
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, work through challenges, and escalate concerns to senior management
Conduct frequent physical property inspections to develop a thorough understanding of property positioning, assess implementation of strategic initiatives, assess operational and management performance, and identify opportunities for improvement
Assess the capital needs/expenditures by property and work with capital investment team to develop a long-term capital plan that aligns with asset strategy
Oversee repositioning opportunities. Monitor market trends for opportunities to add value through renovation, expansion or repositioning of the assets. Supervise scope development, financial impact, and ensure targeted returns are achieved
Develop comprehensive annual operating and capital budgets supporting investment strategies and objectives, collaborating with various internal teams
Become an expert on assigned local markets through on-site visits, economic outlook and trends, and network of industry experts
Support Blackstone and the LivCor Investment team, on acquisition underwriting, providing market and leasing assumptions and participating in other due diligence activities, as necessary
Evaluate potential new products to increase ancillary income, reduce operating expenses, or create operational efficiencies
Identify opportunities, initiatives, and projects to drive performance across asset management
Mentor and develop junior team members across various internal teams
Participate in in local industry organizations
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 MSAs, preferably with experience across the West Coast
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 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
Generous 401(k) match to help you plan for the future
Fertility, adoption, and surrogacy support to grow your family your way
Comprehensive health benefits, including medical, dental, and vision
Hybrid work model with offices in Chicago, NYC, and Atlanta
Health insurance coverage
Retirement savings plan
Paid holidays
Paid time off (PTO)
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