Director, Asset Management; Pacific Coast

Overview

Liv Cor, a Blackstone portfolio company, is a real estate asset management business specializing in multi-family housing. Formed in 2013 and headquartered in Chicago, Liv Cor 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.

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 Los Angeles and will be responsible for maximizing the value of the firm’s assets. This Director will develop and execute an asset management strategy for a portfolio within the Pacific Coast region. The Director will strategize and oversee execution of property operations, capital expenditures, and renovation/redevelopment programs. The role will also collaborate with Blackstone representatives on regional investment activities, including due diligence efforts, investment market assessments and property underwriting assumptions.

The Director will be a critical member of the asset management team and will have a significant responsibility for, and impact on, the portfolio's financial performance.

• Develop strategic recommendations by understanding real estate operations, property nuances and data-driven trends, and local market dynamics.
• Collaborate with internal teams (marketing, revenue management, accounting, financial planning & analysis, capital investment, investments, portfolio strategy) to formulate and execute strategies to maximize portfolio value and report performance results to leadership.
• Leverage monthly and quarterly financial statements, business intelligence software, and analytical tools to identify property and portfolio performance relative to budget and market benchmarks.
• 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, address challenges, and escalate concerns to senior management.
• Conduct frequent physical property inspections to understand property positioning, assess implementation of strategic initiatives, assess operational and management performance, and identify opportunities for improvement.
• Assess capital needs/expenditures by property and work with the capital investment team to develop a long-term capital plan that aligns with asset strategy.
• Oversee repositioning opportunities. Monitor market trends for opportunities to add value through renovation, expansion or repositioning of the assets. Supervise scope development, financial impact, and ensure targeted returns are achieved.
• Develop comprehensive annual operating and capital budgets supporting investment strategies and objectives, collaborating with various internal teams.
• Become an expert on assigned local markets through on-site visits, economic outlook and trends, and network of industry experts.
• Support Blackstone and the Liv Cor Investment team on acquisition underwriting, providing market and leasing assumptions and participating in other due diligence activities as necessary.
• Evaluate potential new products to increase ancillary income, reduce operating expenses, or create operational efficiencies.
• Identify opportunities, initiatives, and…