Residential Asset Manager

Deutsche Bank



Chicago, IL


Position summary

Residential Asset Manager

| | | | --- | --- | | **Job ID:**R0131998 | Listed: 2022-11-07 | | Regular/Temporary: Regular | | Location: Chicago |

Position Overview

About DWS:

DWS Group (DWS) is one of the world's leading asset managers with EUR 928bn of assets under management (as of 31 December 2021). Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our investment approach strategically.

DWS wants to innovate and shape the future of investing: with approximately 3,500 employees in offices all over the world, we are local while being one global team. We are investors – entrusted to build the best foundation for our clients’ future.

About the Team

The Residential Asset Manager is an integral role within the DWS Real Estate Asset Management Group. The asset manager’s primary role is to add value to our clients’ apartment properties by providing best in class asset management services. The asset manager will be responsible for a portfolio of 10 to 15 residential properties, some with street level retail space. These properties typically contain as many as 4,000 apartments and https://3.5 million square feet of living space. The Residential Asset Manager position will be located in Dallas, Chicago, New York, or San Francisco based on qualified candidate.

Your Key Responsibilities:

  • Responsible for the asset management and operating performance of a diverse residential portfolio of real estate assets located throughout the US. The assets managed will be based on the successful candidate’s background of experience.

  • Drive value creation at the asset level by implementing strategies that grow income and reduce operating expenses.

  • Monitor capital improvement/new construction programs throughout the course of the year, monitoring for adherence to approved business plan.

  • Approve changes in scope of work and estimated construction contracts along with Portfolio Manager.

  • Develop management, leasing, and capital investment strategies, as well as income/expense budgets for each asset. Present annual plans for these activities to Portfolio Managers as required.

  • Reviewing weekly, monthly, and quarterly reports produced by the contract managers for variance from plan and opportunities to improve performance. Ensure the reports meet DWS requirements.

  • Stay current on local market trends. Thoroughly understand each investment and how it is positioned in its respective market to maximize the value of the investment and identify acquisitions and dispositions opportunities.

  • Gather and analyze data to understand each property’s position in the market. Ensure properties are appropriately priced relative to their competitive set and leasing velocity.

  • Actively manage the quarterly and annual valuation process to ensure that proper and uniform valuation techniques are being applied. Review values monthly based upon capital events at the property, unforeseen capital events, and changes in capital markets.

  • Review and approve monthly draws for each project and check for project budget compliances.

  • Visit assets on a periodic basis to meet with property managers, leasing agents, engineers, etc.

  • Develop marketing and leasing guidelines and promotion programs. Review lease terms, tenant improvement plans, and budgets.

  • Participate in dispositions process.

Your Skills & Experience:

  • Minimum of 5 years of institutional, Residential Asset Management experience.

  • Substantial experience asset managing multiple residential investments in multiple geographic regions.

  • Ability to effectively communicate with property management employees, portfolio managers, the investment committee, and clients.

  • Expertise with an emphasis on the multifamily sector across affordable, workforce, Class A, Class B, single family rental, and student housing.

  • High level of business acumen as it relates to multifamily marketing, leasing, property operations, accounting, and reporting with the ability to understand financial statements, investment proformas, as well as IRR and NPV calculations and analysis.

  • Market analysis skills to support decisions concerning rent rates, capital improvement programs, leasing strategies, and property repositioning.

  • Understanding of acquisitions, financing, leasing, and dispositions of real estate assets.

  • Exposure to and experience with monitoring and interpreting real estate portfolio reporting, including planning, budgeting, leasing, bank/lender compliance, and financial and pro forma modeling.

  • Ability to approve changes in scope of work and estimated construction contracts alongside the portfolio manager.

  • Excellent and effective written and oral communication skills.

  • Strategic, creative thinker with experience overseeing the process of interpreting data and analysis to support the development of new and innovative investment products.

  • Work independently, present recommendations, and interact with the senior management and partners in the decision-making process.

  • Ability to respond rapidly to changes in the market.

  • Travel required.

What We’ll Offer You:

A healthy, engaged and well-supported workforce are better equipped to do their best work and, more importantly, enjoy their lives inside and outside the workplace. That’s why we are committed to providing an environment with your development and wellbeing at its center.  You can expect:

  • Competitive Salary and Matched 401K Savings Plan

  • Generous Paid Time Away plus Bank Holidays

  • Health and Life Insurance Plans for you and your family

  • Work/Life Balance Programs including Adoption/Surrogacy/Infertility Assistance, Backup Care through Bright Horizons, Phase Back to Work and Support for New Mothers

  • A range of flexible benefits including Retail Discounts, Commuter Discounts and Gym benefits

  • The opportunity to support wide-ranging volunteer programs, + 1 day volunteering leave per year, matched personal donations to non-profit organizations dollar-for-dollar, up to $5,000

How we’ll support you:

  • Training and development to help you excel in your career

  • Flexible working to assist you balance your personal priorities

  • Coaching and support from experts in your team

Our values define the working environment we strive to create – diverse, supportive and welcoming of different views. We embrace a culture reflecting a variety of perspectives, insights and backgrounds to drive innovation. We build talented and diverse teams to drive business results and encourage our people to develop to their full potential. Talk to us about flexible work arrangements and other initiatives we offer.
We promote good working relationships and encourage high standards of conduct and work performance. We welcome applications from talented people from all cultures, countries, races, genders, sexual orientations, disabilities, beliefs and generations and are committed to providing a working environment free from harassment, discrimination and retaliation.

Visit Inside Deutsche Bank to discover more about the culture of Deutsche Bank including Diversity, Equity & Inclusion, Leadership, Learning, Future of Work and more besides.

We are an Equal Opportunity Employer - Veterans/Disabled and other protected categories. Click these links to view the following notices: "EEO is the Law poster" and supplement ; Employee Rights and Responsibilities under the Family and Medical Leave Act; Employee Polygraph Protection Act and Pay Transparency Nondiscrimination Provision.

Why you should apply for a job to Deutsche Bank:

  • 4.6/5 in supportive management

  • 60% say women are treated fairly and equally to men

  • 71% say the CEO supports gender diversity

  • Ratings are based on anonymous reviews by Fairygodboss members.
  • We offer a hybrid working model, allowing for in-office / work from home flexibility, generous vacation, personal and volunteer days.

  • Our compensation package includes health and wellbeing benefits, retirement savings plans, parental leave, and family building benefits.

  • We're committed a diverse and inclusive environment that embraces change, innovation, and collaboration.