DescriptionThis Opportunity
Heitman is seeking an experienced Asset Manager to join our team. The ideal candidate will bring their subject matter expertise within the Self-Storage asset class to our North American private equity team to effectively manage our assets within clients' portfolios. This role will be highly collaborative, and the successful candidate will be impactful in building relationships with internal teams including Portfolio Management, Acquisitions, and Financial Operations & Analysis, as well as effectively partner with external stakeholders including joint venture partners and property management.
Responsibilities include, but are not limited to:
- Manage a diverse real estate portfolio focused on self-storage.
- Implement asset management strategies, including income and expense forecasting, capital budget, value creation activity, and risk return analysis for assets.
- Plan and organize asset objectives and resources to meet asset needs and financial objectives.
- 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 operating strategies and closely monitor property management teams and joint venture partners to ensure alignment and execution.
- Implement and monitor value-add strategies, including property expansions, unit reconfigurations and product improvement plans, 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 understand challenges, assess business plan, evaluate operational performance of third-party teams, identify improvement opportunities, and communicate findings.
- Support acquisitions team for new investment underwriting, providing market and leasing assumptions and participating in due diligence activities, as necessary.
- 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.
Qualifications:
- Minimum 10 years of relevant real estate investment experience, with 5 years of asset management experience with a preference for candidates with Self Storage experience. 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.
- Ability to analyze and interpret market trends, third-party reports, and competitor surveys.Bottom of Form
- Strong knowledge and experience with budgets and overall financial reporting, with an ability to analyze large amounts of data and obtain improvement opportunities.
- Strong interpersonal skills with an ability to collaborate with others.
- Skilled in communicating complex issues clearly and professionally, both verbally and in writing
- Knowledge of construction and redevelopment terminology, with a strong understanding of standard capital real estate capital projects.
- Demonstrated leadership and mentoring capabilities, with the ability to guide and develop junior team members.
- Experienced in the investment due diligence process with the ability to provide local market leasing assumptions and competitive insights.
- Proficient in real estate valuation and appraisal techniques and processes.
- Advanced financial modeling skills 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.
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 bullet points, so consider this posting a conversation starter. If you check some, but not all, of our boxes, we still want to talk! Please apply for this role if much of this job description describes you.
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