Birgo Realty is Hiring a Head of Asset Management Near Pittsburgh, PA
Job SummaryThe Head of Asset Management leads the AM department. Their responsibilities include executing well-crafted asset business plans, achieving on-target fund performance, maintaining fund liquidity, and achieving investor distribution targets. This oversight extends across a range of private equity real estate investment products, such as funds, syndications, and joint ventures, with a primary focus on multi-family residential properties. This position and their department serve as the “hub” of the organization; they interface with acquisitions on underwriting, operations (property management, maintenance, and construction) on ground-level execution, and investor relations on performance reporting. They drive strategic initiatives to improve performance across the portfolio, enabling Birgo to achieve the target of $1B in Assets Under Management (AUM) by 2030. Birgo’s Values
Teamwork: We are collaborative, approachable, and engaged
Humility: We are selfless, gracious, and continuously improving
Rhinocerality: We are proactive, dynamic, and courageous
Integrity: We are trustworthy, principled, and sincere
Vision: We are forward-thinking, empathetic, and adaptable
Excellence: We are goal-oriented, dependable, and accountable
Responsibilities
Acquisitions Support
Collaborates with Acquisitions team on potential acquisitions, helping produce strong underwriting and business plans, ensuring they fit the fund profile, and appropriately manage allocation risk
Supports Acquisitions team with due diligence
Member of investment committee
Ensures smooth handoff from Acquisitions team to Operations team during and after close
Asset Performance
Ensures the underwritten asset-level business plans are executed
Adjusts asset-level business plans post-underwriting as needed, with the approval of ownership
Turns around distressed assets
Collaborates with Operations team (property management, maintenance, and construction) to improve performance, primarily through providing excellent financial planning and analysis
Leads budgeting process, ensuring budgets are tied to multiyear underwritten proformas and asset-level business plans, collaborating with Operations team to ensure their achievability
Ensures assets produce adequate cash flow, a key component of the overall fund liquidity and distribution plan
Manages property insurance, working with insurance brokers, ensuring we’re getting the right coverage at the best cost
Manages property tax reassessments, reducing risk and minimizing their impact
Manages our few commercial (office and retail) assets and executing on their disposition at a satisfactory outcome
Perform site visits as needed
Fund Performance and Liquidity
Has a master fund-level plan that synthesizes all asset-level plans, ensuring we hit fund objectives
Creates long-term and short-term liquidity management plans, ensuring funds stay liquid and targeted distributions are made
Plans and executes refinances and supplemental loans, working with Operations team to ensure maximum proceeds are generated
Leads the charge on creatively solving fund leverage and liquidity issues, such as sourcing mezzanine debt
Dispositions and Fund Exits
Strategically orchestrates and executes asset dispositions and fund exits, ensuring positive investor outcomes
Performs hold/sell analysis
Works with external brokers and internal Operations team to position and market assets for sale
Relevant Measurables
Rental income, NOI, and cash flow on target
Investor distributions paid every quarter at targeted amounts
Fund liquidity ratios maintained
Underwritten IRR achieved
Lender or buyer due diligence always on track
Loan covenant measurables (such as DSCR) always on track
Financial reporting delivered on time
Successful Candidate Profile Knowledge:
Bachelors or Masters degree in Finance, Real Estate, or related field
Comprehensive knowledge of real estate, private equity, fund management, and asset management concepts and principles
Experience:
10 years real estate asset/portfolio management experience
5 years directing the work of others
Skills:
Financial planning, analysis, and modeling, including data visualization
Critical thinking, problem solving, and complex decision-making
Verbal and written communication
Power user of Google Workspace (Gmail, Docs, Sheets, Slides, and Drive) and Microsoft Excel
Work Style:
Strategic, planful, and quantitative orientation
Makes critical decisions, utilizing strong professional judgment, and in a highly collaborative manner
Works effectively under pressure; comfortable with a high degree of responsibility
Self-confident and self-motivated
Strong attention to detail
Committed to building teams and developing others
Other Requirements:
Ability to travel to properties, conferences, etc.
Able to use a computer for a full workday
Eligible to work from home with the expectation of attending in-person meetings at Birgo’s Pittsburgh office 1-3 days per week
Benefits
Profit Sharing Program
Medical, Vision, and Dental health insurance with company contribution
401(k) retirement plan with employer match
Flexible Paid Time Off Program
Healthy Lifestyle Reimbursement program
Perks
Team outings and volunteer events
Professional development reimbursement program
Eligible for Work From Home with the expectation of attending in-person meetings at Birgo’s Pittsburgh office 2-3 days a week
Discounted rates at Birgo properties
More about Birgo Birgo Realty offers an exciting start-up environment, characterized by fast growth and an entrepreneurial spirit. We take care of our hardworking team by providing opportunities for professional growth, paying attention to holistic staff needs, and celebrating life together every Friday afternoon. Birgo Realty values diversity in our staff and seeks to enhance the diversity of our team at every opportunity.