CORE SPACES, LLC
Asset Management Director - BTR
CORE SPACES, LLC, Chicago, Illinois, United States, 60290
Who We Are
Core Spaces (Core) is more than a real estate company, its a people company. Where building relationships is just as important as building properties. From researchers and architects to designers and operators, Core is made up of risk takers and dreamers who are on a mission to invent the future of living. Our six cultural values guide us every day and we strive to live them in everything we do:
PUSH
(Invent Better Places to Live),
GRIT
(We Got This),
LIFT
(Help Each Other Win),
SHINE
(Bring Your Full Self),
UPHOLD
(Never Break Trust),
GROW
(Always Get Better). Everything Core does stems from this culture of collaboration and innovation, and the drive to constantly improve the resident experience. This unique approach has led to creating spaces and services that are redefining the way people live.
What We Do
Founded in 2010, Core is a vertically integrated company focused on acquiring, developing, managing, and lending across the student housing and build-to-rent (BTR) sectors. Its residential communities feature world-class amenities, progressive design, and hospitality-driven client service. In its award-winning student portfolio, Core currently owns and/or manages over 38,600 beds and has a pipeline of over 43,000 beds in various stages of development. Core's BTR division currently has over 3,000 homes under development and in its pipeline in high-growth metros across the country.
Benefits That Matter
A culture that provides you with a sense of belonging
Hybrid and remote work options to promote work-life balance
Competitive pay that values your contributions
Annual incentive to reward your achievements
Paid unlimited PTO to disconnect or celebrate life milestones
Paid 16 holidays, including your birthday, to disconnect and celebrate
Paid Parental Leave that begins after 90 days
Paid volunteer time off to give back to your community
Monthly workshop weeks; fewer meetings & more collaboration
Robust health plan options that begin within at least 30 days of your employment
Monthly phone reimbursement
Wellness allowance and perks, including a yearly subscription to a meditation app
An environment that provides you a voice to share your perspectives
Employee Assistance Program (EAP) for access to confidential support services
Company retirement options including 401(k) + matching & Roth account option
Position Overview
We are seeking to hire a Director to join our BTR Asset Management team. This position plays a vital role in strategic company decision-making to maximize the financial performance of the BTR portfolio and two conventional multifamily assets. The Director will have the opportunity to manage the full business cycle of BTR investments including acquisitions or delivery of new developments, ongoing asset management, and disposition. The Director will work with internal and external stakeholders to maintain a detailed pulse on each property, identify opportunities for improvements, and be responsible for communication and reporting of property budgets and key financial metrics. The Director will also assist with cross-department communication and coordination within BTR between Operations/Management, Marketing, and Investments/Acquisitions.
What You Will Do
Manage key strategic decisions for the initial BTR portfolio of assets and two conventional multifamily assets.
Oversight of leasing, budgeting, financing, and operations to maximize asset value.
Oversee and execute the annual budgeting process for the initial BTR portfolio of assets and two conventional multifamily assets.
Assess monthly financials, determine key trends, and create investment performance reports for the internal executive team and equity partners.
Work with Operations, Property Accounting, and other key internal stakeholders to meet deadlines for internal and external reporting, and provide regular performance updates to equity partners.
Responsible for managing asset dispositions and recapitalizations, including the coordination of due diligence materials and communication of asset and market history for buyers.
Prepare proforma financial models to analyze potential refinancing, hold/sell decisions, and existing debt covenants.
Work with Development and Investments/Acquisition teams to review proforma, and business plans for potential developments and acquisitions, and support due diligence efforts as needed.
Mentor, inspire, and manage junior-level Asset Management team members (when hired).
Expected occasional travel to properties and/or Chicago office (if remote).
Perform all other duties and tasks as assigned by management.
Must be able to complete all physical requirements of this role with or without a reasonable accommodation.
Ideally, you'll have
Bachelors Degree in Finance, Accounting, Economics, Statistics, and/or Applied Mathematics
Knowledge of and experience with commercial real estate fundamentals and investment principles.
7+ years of relevant industry experience.
Advanced financial modeling skills and high familiarity with Microsoft Excel, Word, PowerPoint, and Google Workspace applications.
Demonstrates utmost level of integrity in all instances, and shows respect towards others.
You'll crush it if you have experience with
Strong analytical skills and attention to detail.
Works well independently and as a member of a team.
Excellent written and verbal communication skills.
Committed to excellence and high standards.
Disclaimer: Please note that job responsibilities, reporting lines, and duties outlined in this job description are subject to change to meet the evolving needs of the organization.
As an Equal Opportunity Employer, Core Spaces celebrates diversity and is committed to creating an equitable and inclusive environment, which creates a sense of belonging for all employees. We do not discriminate and believe every individual should be proud of who they are and the community they represent.
#J-18808-Ljbffr
Core Spaces (Core) is more than a real estate company, its a people company. Where building relationships is just as important as building properties. From researchers and architects to designers and operators, Core is made up of risk takers and dreamers who are on a mission to invent the future of living. Our six cultural values guide us every day and we strive to live them in everything we do:
PUSH
(Invent Better Places to Live),
GRIT
(We Got This),
LIFT
(Help Each Other Win),
SHINE
(Bring Your Full Self),
UPHOLD
(Never Break Trust),
GROW
(Always Get Better). Everything Core does stems from this culture of collaboration and innovation, and the drive to constantly improve the resident experience. This unique approach has led to creating spaces and services that are redefining the way people live.
What We Do
Founded in 2010, Core is a vertically integrated company focused on acquiring, developing, managing, and lending across the student housing and build-to-rent (BTR) sectors. Its residential communities feature world-class amenities, progressive design, and hospitality-driven client service. In its award-winning student portfolio, Core currently owns and/or manages over 38,600 beds and has a pipeline of over 43,000 beds in various stages of development. Core's BTR division currently has over 3,000 homes under development and in its pipeline in high-growth metros across the country.
Benefits That Matter
A culture that provides you with a sense of belonging
Hybrid and remote work options to promote work-life balance
Competitive pay that values your contributions
Annual incentive to reward your achievements
Paid unlimited PTO to disconnect or celebrate life milestones
Paid 16 holidays, including your birthday, to disconnect and celebrate
Paid Parental Leave that begins after 90 days
Paid volunteer time off to give back to your community
Monthly workshop weeks; fewer meetings & more collaboration
Robust health plan options that begin within at least 30 days of your employment
Monthly phone reimbursement
Wellness allowance and perks, including a yearly subscription to a meditation app
An environment that provides you a voice to share your perspectives
Employee Assistance Program (EAP) for access to confidential support services
Company retirement options including 401(k) + matching & Roth account option
Position Overview
We are seeking to hire a Director to join our BTR Asset Management team. This position plays a vital role in strategic company decision-making to maximize the financial performance of the BTR portfolio and two conventional multifamily assets. The Director will have the opportunity to manage the full business cycle of BTR investments including acquisitions or delivery of new developments, ongoing asset management, and disposition. The Director will work with internal and external stakeholders to maintain a detailed pulse on each property, identify opportunities for improvements, and be responsible for communication and reporting of property budgets and key financial metrics. The Director will also assist with cross-department communication and coordination within BTR between Operations/Management, Marketing, and Investments/Acquisitions.
What You Will Do
Manage key strategic decisions for the initial BTR portfolio of assets and two conventional multifamily assets.
Oversight of leasing, budgeting, financing, and operations to maximize asset value.
Oversee and execute the annual budgeting process for the initial BTR portfolio of assets and two conventional multifamily assets.
Assess monthly financials, determine key trends, and create investment performance reports for the internal executive team and equity partners.
Work with Operations, Property Accounting, and other key internal stakeholders to meet deadlines for internal and external reporting, and provide regular performance updates to equity partners.
Responsible for managing asset dispositions and recapitalizations, including the coordination of due diligence materials and communication of asset and market history for buyers.
Prepare proforma financial models to analyze potential refinancing, hold/sell decisions, and existing debt covenants.
Work with Development and Investments/Acquisition teams to review proforma, and business plans for potential developments and acquisitions, and support due diligence efforts as needed.
Mentor, inspire, and manage junior-level Asset Management team members (when hired).
Expected occasional travel to properties and/or Chicago office (if remote).
Perform all other duties and tasks as assigned by management.
Must be able to complete all physical requirements of this role with or without a reasonable accommodation.
Ideally, you'll have
Bachelors Degree in Finance, Accounting, Economics, Statistics, and/or Applied Mathematics
Knowledge of and experience with commercial real estate fundamentals and investment principles.
7+ years of relevant industry experience.
Advanced financial modeling skills and high familiarity with Microsoft Excel, Word, PowerPoint, and Google Workspace applications.
Demonstrates utmost level of integrity in all instances, and shows respect towards others.
You'll crush it if you have experience with
Strong analytical skills and attention to detail.
Works well independently and as a member of a team.
Excellent written and verbal communication skills.
Committed to excellence and high standards.
Disclaimer: Please note that job responsibilities, reporting lines, and duties outlined in this job description are subject to change to meet the evolving needs of the organization.
As an Equal Opportunity Employer, Core Spaces celebrates diversity and is committed to creating an equitable and inclusive environment, which creates a sense of belonging for all employees. We do not discriminate and believe every individual should be proud of who they are and the community they represent.
#J-18808-Ljbffr