Portfolio Managers needed! Private equity firms and real estate investment trusts alike hire them. Property management firms need them. And Wall Street investment banks can’t live without them. So what exactly does a portfolio manager do? In this article, we explore the role of the the Real estate portfolio manager that’s omni-present across every real estate vertical! Portfolio managers play a crucial role in the management of real estate assets. Their responsibilities range from identifying acquisition opportunities to managing the portfolio’s overall performance. Let’s discuss the typical education, skills and training required, a job description, and the career path for someone in this role.
Education, Skills and Training:
Real estate portfolio managers typically have a bachelor’s or master’s degree in business administration, finance, or real estate. In addition, seasoned managers have several years of experience in real estate investment and portfolio management. They will also possess excellent analytical skills, have a strong grasp of financial analysis, and be strong communicators.
Unlike analysts who simply run financial modeling on properties, or property managers who manage tenant issues and rent collection, the real estate portfolio managers monitor a property’s performance from the 10,000-foot level. They are responsible for the overall performance of the real estate assets in a given portfolio. On the front-end, they may identify good investment opportunities, or once assets are acquired and added to an existing portfolio, they can manage the portfolio’s performance. It is important for company’s to have someone who is ensuring the portfolio meets the investment objectives of the company. That’s why the portfolio manager is key. Their responsibilities include:
- Identifying investment opportunities and conducting due diligence.
- Developing and executing investment strategies.
- Monitoring and managing the portfolio’s performance.
- Conducting research and analysis to identify trends in specific markets that will be helpful for property purchase decisions or asset performance benchmarks.
- Negotiating and managing lease agreements.
- Overseeing property management and maintenance.
- Providing regular reports and updates to senior management.
- Career Path:
Real estate portfolio managers typically start their careers as analysts. In these entry level roles, they gain by creating and running financial models that help senior colleagues make decisions about whether or not to acquire assets; these models also help managers understand how an asset is performing. With experience, these analysts can progress to senior analyst roles, assistant portfolio manager, and ultimately to portfolio manager. At this point, they are now overseeing analysts and using models that others have created to make key decisions. Of course, depending on the size of the organization, there is flexibility in how much hands-on “number-crunching” vs. how much “people managing” is actually being done. Some may also choose to pursue a career in private equity or investment banking.
Top Companies Hiring Real Estate Portfolio Managers:
JPMorgan Asset Management
CBRE Global Investors
Brookfield Asset Management
Nuveen Real Estate
TalentWoo has a strong network of property and portfolio managers , specifically in the real estate industry, helping many real estate companies, REITS, and private equity firms hire for these roles. We source candidates from a wide range of channels, including referrals, job boards, social media, and our proprietary database of pre-screened candidates. Our recruiters have an in-depth understanding of the skills and qualifications required for the role and can identify top talent quickly.
If you’re looking to hire a real estate portfolio manager, contact us to today for a strategy call. TalentWoo’s team of real estate recruiters can assess your needs, then help you find the right candidate quickly!