Director - Asset Management, Texas

LivCor, a Blackstone portfolio company, is a real estate asset management business specializing in multi-family housing. Formed in 2013 and headquartered in Chicago, LivCor is currently responsible for a portfolio of over 400 Class A and B properties comprising more than 150,000 units in markets across the United States. Our business is focused on making real estate more valuable. But for us, it’s more than that. It’s people first, community always. It’s a life-filled career, not just a career-filled life. It’s doing good work, with good humans, and making a difference. It’s excellence in all its forms. Ultimately, we create great places to work, live, and grow. We do that by focusing on leaving people – and places – better than we found them. Whew! Still with us? Cool. Let’s talk about where you’d fit in: Only read further if you are: Kind Humble Honest Relentless Smart with Heart You should be: Authentic. You do you. Together, we’ll do something amazing. A passionate person with a love for real estate and investing; and believes that helping others win is a noble cause, essential to our success. An excellent team player who enjoys working with others and has strong interpersonal skills. Highly motivated, energetic, and organized The Director - Asset Management will be based in Dallas and will be responsible for maximizing the value of the firm's assets. This individual will develop and execute an asset management strategy for their regional portfolio. It should encompass property operations, capital expenditures, and renovation/redevelopment programs. The role will also collaborate as necessary with Blackstone representatives on regional investment activities, including due diligence efforts, investment market assessments and property underwriting assumptions. He/she will be a member of the asset management team and will have a significant responsibility for, and impact on, the portfolio's financial performance. What you will do: 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. What you should have: 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. What we offer: We know that if we take care of our team everything else will fall into place. We aren’t perfect, but we will try to set very clear expectations, always let you know where you stand, and do everything in our power to help you get where you want to go. Our culture and values matter to us. A lot. We’re definitely not serious but we take this stuff seriously, if you get what we mean. We want a place that is an ego-free zone. A place where good people do good things together. It shouldn’t be rocket science in workplaces, but for some reason it still is? We’re absolutely determined to be different, and we think we’re doing a pretty good job at it. We have a CEO who will encourage you to tell him when he is wrong. In fact, he needs people to – we all do. Supportive challenge is good, it’s how we get better. We like getting better. We also love diversity, of all kinds. We need people who look, sound, speak, love, and exist differently from one another. This isn’t at the end of this paragraph because it’s an afterthought. It’s SO important to us we want it to stand out. Right. On to the technical stuff that we know matters to you. We offer competitive pay that is commensurate with the market and relevant experience as well as a full slate of benefits. If any of this sounds interesting, then maybe we are a fit. Life is too short to work with people you don’t like. So whatever you do, don’t make that mistake. The LivCorian Values Be you. Be Real. Be Open. You do you. Together, we will do something amazing. Care, Always. We don’t want to let anyone down. Courageously Curious. We love to learn, even when it hurts. Help Others Win, Be A Good Neighbor. This is about ‘We, not Me.’ Relentless Hustle, Heart & Humility. Work hard. Be Kind. Make Better. Please review the job applicant privacy notice here. EEO Statement LivCor is an equal opportunity employer. In accordance with applicable law, we prohibit discrimination against any applicant, employee, or other covered person based on any legally recognized basis, including, but not limited to: veteran status, uniformed servicemember status, race, color, caste, immigration status, religion, religious creed (including religious dress and grooming practices), sex, gender, gender expression, gender identity, marital status, sexual orientation, pregnancy (including childbirth, lactation or related medical conditions), age, national origin or ancestry, citizenship, physical or mental disability, genetic information (including testing and characteristics), protected leave status, domestic violence victim status, or any other consideration protected by federal, state or local law. We are committed to providing reasonable accommodations, if you need an accommodation to complete the application process, please email talent@revantage.com Our business is multifamily asset management. But for us, it's more than that. It’s people first, community always. It’s a life-filled career, not just a career-filled life. It’s making good work and making a difference. It’s excellence in all its forms. WHO WE ARE Kindness is key. Yes, we own and operate incredible properties in prime locations, but what really inspires us are the healthy communities we cultivate. We offer a welcoming and inclusive work environment, leadership development program, long-term partnerships, plus an ongoing commitment to upholding the highest sustainability standards to make homes happy and healthy—all that feel-good stuff. OUR VALUES They’re what we live by, not just a poster we hang on the wall. Our success comes from building and maintaining strong relationships with over 250,000 residents nationwide, plus partnerships with the best property management and services companies anywhere. We take pride in providing beautiful, inclusive, and sustainable communities where people care for one another as good neighbors. Mr. Rogers would be proud. HOW WE DO GOOD Giving Back and Moving Forward We’ve committed ourselves to initiatives that have both a local and global impact, and that feels oh so satisfying! Turns out taking responsibility can be really rewarding. Job Applicant Privacy Notice Apply tot his job Apply To this Job