Asset Manager - Student Housing - Chicago Illinois

Company: Fairlawn
Location: Chicago, Illinois
Posted On: 01/17/2025

Description:We are seeking a high-performing Asset Manager to oversee the financial performance of our Student Housing Portfolio. The ideal candidate will embody Fairlawn's core values: Be Kind, Own It, Be Flexible, and Always Improve.Based in either Chicago or Champaign, IL, this position will be part of our Asset Management Team whose goal is to optimize cash flow through operations. Working together with the Property Management Team, this role will be accountable for developing and monitoring property business plans, pricing and revenue management, expense optimization, and capital expenditure planning and execution.Fairlawn is a vertically integrated firm specializing in real estate investment, management, and development. Based in Chicago and Champaign, Illinois, we have a more than 10-year track record in value-add projects, development, student housing, and build-to-rent communities. With a portfolio of approximately 5,500 units and $700 million in assets under management, Fairlawn has established a strong presence across Illinois and Indianapolis. We are actively expanding into additional Midwest markets.The successful candidate will be a critical driver of this growth and will be responsible for creating, implementing, and overseeing new processes and strategies to contribute to our portfolios' success. This corporate role will report to the Director of Asset Management and has the option to be based in either our Champaign or Chicago offices.What will you do?Exemplify the core values of Be Kind, Be Flexible, Own It, and Always ImproveMonitor current property performance and prepare and review property management budgets and capital expenditure reportsPartner with the Pricing Analyst to develop and implement optimal pricing strategiesWork with property management and marketing teams to develop and monitor leasing/marketing plans and lease-up progress reportsDevelop and monitor property business plans to meet investor expectationsMaximize the total return for portfolio assets through the identification of potential value-add and revenue enhancement strategies, as well as implementation of operational efficienciesCollaborate with Facilities Project Managers regarding capital project planning and status, including on-site visits and interfacing with third-party contractorsTravel to existing properties on a regular basis to identify potential areas for improvement and implement action plans for sustained high-performanceBecome the firm's local expert in each market where properties are assigned, with a focus on competitive assets, acquisition pipeline, and other economic drivers that could impact overall asset performanceDevelop and maintain internal trend analyses for existing properties and identify areas of improvement based on comparative benchmarkingFacilitate activities related to capital events, such as acquisition financing, refinancing, and property dispositionsAssist with new project underwriting & financial analysis and help prepare investment offering memoranda for investment committee and potential investorsReview and analyze new investment offering materials and gather and evaluate economic and market dataAssist with managing the due diligence and closing processes, including the review and analysis of leases, operating information, legal documentation, property condition assessments, and other investment-related information as well as touring assets and participating in tenant interviewsLearn and ensure compliance with all Fair Housing Laws including local, state, and federal housing regulations (We provide training)Pivot, roll up your sleeves, and jump in where needed!Why should you work here?Competitive Base Pay and Performance Incentives. We are ready to invest in you!Medical, Dental, Vision, and Life Insurance - to access care for positive health outcomes and your overall well-beingEmployee-sponsored benefits including Short Term Disability, Life Insurance, Critical Illness, Accident, Flexible Spending, and H.S.A. Accounts to avoid costly medical expenses due to gaps and ensure that all your medical needs are met401(k) Retirement Plan with Match to invest in your future wealth and retirementPaid Vacation, Sick Leave, and Holiday Pay to help you reset and come back rejuvenated and refreshedMonthly company events to promote team cohesionWellness Days to focus on being your best self. We want you to have time to disconnect and recharge in a way that works for youThe opportunity to work for a growing organization where you are valued and can have a direct impactQuarterly off-site meetings with your manager to celebrate wins, issue solve and ensure you are set up for success. Plus, the process is rewarding, and the results are great for your careerRequirements:Who you are - We'd love to hear from you if you:Have an undergraduate degree (in a relevant discipline including finance, marketing, business, economics or engineering)Must have a minimum of 3 years Asset Management experience - Priority to candidates with experience in Student HousingHave a thorough understanding of the various real estate valuation processes and techniquesHave a strong understanding and experience with budgets and overall financial reporting, with an ability to analyze large amounts of data and extract improvement opportunitiesAre proficient with relevant technology and can easily adapt to changing technology (i.e., property management software, Microsoft Office Suite including intermediate to advanced Excel capability)Have excellent written and verbal communication skillsDemonstrate superior attention to detail, high energy, and a positive attitudeHave the ability to work independently and also to work closely with other team membersEmbody our core values: Be Kind, Own It, Be Flexible, and Always ImproveHave the ability to work overtime as needed during high-demand times and capacity shortagesSome additional things you will need:Valid driver's license and dependable transportation. Limited in-town usage of personal vehicle for errands, any out-of-county personal mileage reimbursed at the Federal rateAbility to travel to properties and corporate events. Requirements will vary but are expected to average around 10% to 20%.Availability to work longer hours during prime leasing season and turnover (specific dates vary from year to year)Must be able to complete the physical functions of the position not limited to the ability to walk properties, complete physical inspections, deliver resident's communications, and show propertiesWe are seeking candidates who demonstrate a strong alignment with the requirements listed above. While meeting all qualifications is preferred, we understand that exceptional candidates may bring comparable experience and skills to the table including prior experience at Fairlawn Real Estate. We value diversity of thought and experience, and we are committed to considering all applicants [internal and external] and to identifying and selecting the most qualified applicant for the role.Our company uses the Entrepreneurial Operating System (EOS) to run and help grow our business - the tools from EOS contribute to finding the right people and putting them in the right roles, effectively solving issues as they arise, and building a culture of accountability. In short, it gets everyone on the same page and working toward the same goals. If you have an ownership mindset and take pride in all the details, joining our team may be perfect for you!We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, national origin or ancestry, sex, age, physical or mental disability, veteran or military status, genetic information, sexual orientation, marital status, or any other characteristic protected by law.INDHPCompensation details: 90000-115000 Yearly SalaryPIdd30e3946f9d-25660-35891310 More...

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