VP, Asset Management, Multifamily

This Opportunity

Heitman is seeking a seasoned Asset Manager to join our North American Private Equity team. We're looking for a strategic and results-driven professional with deep expertise in the multifamily asset class to oversee and optimize performance across our clients' multifamily portfolios.

This highly collaborative role will require strong relationship-building skills and the ability to work cross-functionally with internal teams-including Portfolio Management, Acquisitions, and Financial Operations & Analysis-as well as external partners such as joint venture stakeholders and third-party property managers. The ideal candidate will bring a proactive, analytical mindset and a passion for driving value across diverse assets.

Responsibilities include, but are not limited to:

• Manage a diverse real estate portfolio focused on Apartments, with strategic oversight and accountability for performance.
• Implement asset management strategies including income and expense forecasting, leasing plans, capital budgets, value creation initiatives, and risk-return analysis.
• 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 leasing strategies and closely monitor property management teams and joint venture partners to ensure alignment and execution.
• Implement and monitor value-add strategies, including unit and common area renovation programs, 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 evaluate operational performance, assess business plan execution, and identify improvement opportunities.
• Support the acquisitions team by contributing market insights, leasing assumptions, and participating in due diligence for new investments.
• 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 professional real estate experience with at least 5 years actively asset managing multifamily assets. 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. Bottom of Form
• Strong understanding of value-add strategies, including unit and common area renovation programs, with a track record of delivering accretive returns.
• Experience leading disposition efforts and supporting financing/refinancing transactions, including coordination with capital markets, legal, and finance teams to ensure the financing closes successfully.
• Skilled in analyzing and interpreting market trends, third-party reports, and competitive surveys to inform strategic decisions.
• Deep knowledge of budgeting, financial reporting, and performance analysis, with the ability to identify operational improvement opportunities.
• Strong interpersonal and relationship management skills, with the ability to collaborate across internal teams and external partners.
• Effective communicator with the ability to clearly and professionally present complex issues both verbally and in writing.
• Familiarity with construction and redevelopment terminology, and a solid understanding of real estate capital projects.
• Experienced in investment due diligence, including providing market insights, leasing assumptions, and competitive positioning.
• Demonstrated leadership and mentoring capabilities, with the ability to guide and develop junior team members.
• Proficient in real estate valuation and appraisal techniques and processes.
• Advanced financial modeling skills (ARGUS, Microsoft Excel), 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.
• Familiarity with apartment-focused proptech solutions and platforms, with an understanding of how technology can enhance operational efficiency and asset performance.

Job Location and Travel

• This position is based in our Chicago office.
• 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.

Right Company, Wrong Role? Check out our other opportunities or refer a friend!

The Firm

Founded in 1966, Heitman is a global real estate investment management firm. Our mission is to lead the evolution of real estate through investments that fulfill the needs of people and communities in a world of constant change. To learn more about our organization and culture, click here.

Total Rewards (Compensation, Benefits & Perks):

At Heitman, we believe that our success is driven by the success of our team members. That's why we use market data to ensure competitive compensation for every role, reflecting our commitment to investing in our team. When we grow, you grow!

The expected annual base salary range for this role is $160,000-$190,000 and will be further discussed during the interview process. This range represents what Heitman reasonably and in good faith believes we would pay a qualified candidate for this role at the time of posting (based on a full-time equivalent schedule). Your actual base salary placement will depend on factors such as (but not limited to): your relevant experience, time in role, base salary of internal peers, prior performance, business sector, and geographic location. In addition, all of our team members are bonus eligible and participate in a generous annual bonus plan, with the percentage varying based on your role and level, ensuring that your contributions are recognized and rewarded.

In alignment with our People First core value, we offer rewarding careers that focus on both personal and professional growth. We are dedicated to helping you and your family thrive, both in the office and at home. To support this, we provide competitive compensation and a leading-edge, human-centric benefits package. Click here to view the details of our benefits.

Additional Information

Candidates applying for roles requiring travel must hold a valid, non-expired driver's license.

Equal Employment Opportunity: Heitman is an equal employment opportunity employer and complies with all applicable laws prohibiting discrimination based on race, color, creed, religion, sex, age, national origin or ancestry, physical, medical or mental disability or condition (including, without limitation, HIV and AIDS), developmental disability, handicap, denial of family and medical care leave, denial of pregnancy leave, domestic partner status, status as a victim of sexual or domestic violence (or familial relationship to such victim), veteran status, marital status, sexual orientation, arrest records, citizenship status, criminal history that has been expunged, unfavorable discharge from the military, or any other basis protected by federal, state or local laws.