Job Summary

The 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.