The Director, Asset Management, is responsible for managing the financial performance and business strategy of a property portfolio. The goal is to maximize operations and returns at both the individual asset level and the overall fund/portfolio level. The Director independently manages a portfolio of multifamily assets within an assigned region and partners closely with the Vice President of Asset Management, property management teams, and internal stakeholders to execute business plans, drive operational performance, and support strategic initiatives. Asset assignments may change based on business needs.

A place for you 

Here at Carmel, we don’t just invest in buildings, we invest in careers. If you don’t meet all of the qualifications listed for this role, we encourage you to monitor our career page for upcoming opportunities. We’re committed to assembling diverse teams with exceptional talent, and we strongly encourage individuals from a wide range of backgrounds to apply. Everyone’s career journey is unique, so let’s explore how you could be a great fit for our team!

What you’ll do

• Partner with the Vice President of Asset Management to drive operational performance and value creation across a regional portfolio of multifamily assets.
• Independently manage assigned properties, overseeing financial performance, business plan execution, lease-up strategy, and operational initiatives.
• Lead preparation and presentation of Quarterly Asset Reviews (QARs) and Annual Business Plans (ALBPs), analyzing performance relative to budget, trends, and strategic objectives.
• Analyze financial results, operating metrics, and market conditions to inform asset-level strategy.
• Review monthly reports, including financials, conversion & leads, marketing dashboards, and operating dashboards.
• Participate in bi-weekly revenue management calls, recommending pricing and revenue strategies based on occupancy trends, lease expirations, and historical pricing data.
• Support the transition of new developments into lease-up, including development of lease-up playbooks, business plans, and pricing tools.
• Serve as the primary liaison with third-party property management teams to ensure execution of business plans and operational initiatives.
• Prepare monthly cashflow projections and make distribution recommendations to VP
• Conduct monthly financial reviews with onsite teams and internal stakeholders to evaluate property performance relative to budget.
• Lead the annual budgeting process for assigned assets in partnership with property management teams, including detailed review of budgets, comparisons of historical performance, and industry benchmarks.
• Underwrite new acquisitions by evaluating the competitive set and developing a stabilized pro forma; present and defend rents and expenses to Investment Committee; participate in physical due diligence.
• Partner with property operations team and dispositions point person to ensure property strategy and operations are followed during dispositions process to maximize sales price of assets.
• Collaborate with Development, Construction, and Investments teams on new developments, renovations, and repositioning strategies.
• Perform comprehensive utilities analysis (annual cost/usage trends, opportunities for expense reduction and bill-back increases).
• Conduct market research, competitive analysis, and shop competitive property set annually to maintain current market intelligence and ensure properties are appropriately positioned in the market.
• Oversee portfolio’s marketing and review websites regularly.
• Identify opportunities to improve operational efficiency and asset performance.
• Review real estate tax assessments and discuss tax appeal strategies with portfolio manager and third-party consultants
• Contribute to Asset Management initiatives that enhance reporting, tools, and operational processes.
• Build strong relationships with internal teams and external partners to support effective execution of asset strategies.
• Conduct regular site visits for your portfolio.
• Travel periodically to other Carmel regional offices.
• Perform other duties and special projects as assigned.

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