VP of Asset Management

VP of Asset ManagementHybrid
• Evergreen Real Estate Group
- Chicago, IL 60661OverviewSalary Range $180,000.00
- $210,000.00 Salary Position Type Full Time Education Level 4 Year Degree Category IL Leasing License NOT RequiredDescriptionPosition Title: Vice President of Asset ManagementDepartment: Asset ManagementReports To: Chief Executive Officer (current) or Chief Operating Officer (once hired)

Location:
Chicago, IL (Hybrid)FLSA Status: ExemptSalary Range: $180,000 – $210,000 (plus 25%–30% bonus potential)Job SummaryEvergreen Real Estate Services is seeking a strategic, systems-oriented Vice President of Asset Management to lead and build a best-in-class asset management function for a growing national affordable housing portfolio, including assisted living communities. Evergreen companies own 66 developments across the US with 8,000 units and closes on approximately 10-14 new properties annually. While most properties are property managed in-house, several are managed by third parties.
This role operates from a true ownership perspective, with primary responsibility for driving long-term asset value, financial performance, and investment outcomes across the portfolio. The VP of AM will translate property-level data into actionable business decisions, guide asset-level strategy and performance oversight, support acquisitions and integrations, and serve as a key partner to executive leadership, investors, and lenders.
Evergreen currently has some asset management functions handled by different business units. The goal is to centralize, professionalize, and expand asset management's role in the organization to protect and improve the growing portfolio.

Key Responsibilities
Develop, maintain, and communicate asset-level business plans aligned with financial and operational goalsMonitor performance across occupancy, collections, expenses, reserves, capital needs, and complianceProvide ownership-level insight and recommendations on portfolio strategy and asset performanceLead portfolio reporting and present risks, opportunities, and action plans to senior leadershipParticipate in the Evergreen Leadership Team (using EOS as a platform)Set and track 90 day "rocks" that support completion of longer-term company goalsCollaborative with rest of senior leadership to identify and solve problemsCommunicate and execute goals throughout the Asset Management functionsFinancial Performance & Risk ManagementReview monthly financials, variances, and reforecasts; identify trends and recommend solutionsProvide oversight for third party property managersComplete HUD rent increase requests to maximize revenueEstablish reporting processes that support decision-making without overburdening operationsReview and analyze property operating budgets, reserve levels, and capital needs to evaluate financial performance and support ownership-level asset strategyLead and execute financial strategy for refinancing, recapitalizations, Year 15 transitions, and dispositionsTrack and oversee property tax incentives across the portfolioEvaluate and recommend AI options to improve information assessment and reduce time requirements for asset management tasksAsset Integration & Business Plan ExecutionSupport due diligence activities for acquisitions, transitions, and integrations by reviewing operational, financial, compliance, and physical asset information and identifying potential risks or performance concernsPartner with property management, accounting, compliance, and operations teams to support implementation of operating plans, financial goals, and performance expectations for newly onboarded assetsAddress stabilization challenges through coordinated, actionable solutionsCompliance & Regulatory OversightPartner closely with the Compliance team to monitor regulatory performance, identify compliance-related risks, and support resolution planning for LIHTC, HUD, and other affordable housing programsPartner with internal teams to strengthen tracking of reporting deadlines and requirementsMonitor compliance risks and ensure appropriate escalation and resolutionCapital Planning & Physical Asset OversightEvaluate capital needs and priorities with operations and facilities teamsSupport financial and operational strategy related to refinancing, recapitalizations, Year 15 transitions, and dispositions in partnership with preservation, development, and executive leadership teamsReview reserve usage, capital projects, and long-term asset preservation strategiesConduct periodic and strategic site visits as needed to assess overall asset condition, operational challenges, and performance trendsWatchlist, Turnaround & Manager OversightEstablish and manage a watchlist for underperforming or high-risk assetsDevelop and guide turnaround strategies for operational or financial challengesEvaluate effectiveness of property management (including third-party managers)Recommend management changes when necessaryStakeholder CommunicationServe as a primary contact fo