Asset Director Jobs in Virginia (NOW HIRING)

Gilbane Development Company is seeking a Director, Asset Managment to lead asset management strategy across a portfolio of purpose-built student housing and market rate multifamily properties. This role is responsible for driving asset-level performance, protecting downside risk, maintaining capital discipline, and creating long-term value throughout the investment lifecycle. Serving as a senior owner representative, this individual will oversee assets in development, lease-up, stabilization, transition, repositioning, and disposition. The role requires strong investment judgment, operational discipline, and the ability to work cross-functionally with Development, Construction, Acquisitions, Capital Markets, Finance, Accounting, Risk Management, Marketing, and Operations. The Director will ensure asset strategies are executable, risks are identified early, and performance remains aligned with underwriting assumptions, approved business plans, and investment objectives. While not primarily responsible for managing capital partner relationships, this role will regularly support Capital Markets, executive leadership, investors, lenders, and other stakeholders with diligence, reporting, performance narratives, and strategic decision-making. This position reports to the Head of Asset Management.

What We're Looking For

We are looking for a senior asset management leader with strong investment judgment, operational fluency, and the ability to translate complex financial and operating information into clear strategy and action. The ideal candidate has deep experience with multifamily and purpose built student housing assets, including development, lease-up, stabilization, capital planning, and business plan execution. This person understands how to evaluate performance through both an investment lens and an operator lens and can identify risks before they become larger issues.

This role requires someone who can lead through influence, hold internal and external partners accountable, and communicate credibly with senior leadership, investors, lenders, operators, and cross-functional teams.

Own and drive asset-level and portfolio-level business plans from development through disposition, ensuring alignment with underwriting, investment strategy, and investor objectives.
• Partner with Development, Acquisitions, and Capital Markets during deal origination, due diligence, refinancings, recapitalizations, and major investment decisions.
• Provide independent asset management perspective on market assumptions, operating performance, rent strategy, income and expense projections, capital requirements, and value creation opportunities.
• Lead strategy for underperforming assets and special situations, coordinating with lenders, investors, operators, and internal stakeholders as needed.

• Serve as a senior owner representative across lease-up, stabilized, transitioning, and repositioning assets throughout the hold period.
• Oversee asset performance against approved underwriting, business plans, budgets, and long-term value creation objectives.
• Identify risks early, diagnose performance gaps, and drive corrective actions to improve NOI, protect asset value, and support investment outcomes.
• Guide execution of repositioning plans, stabilization strategies, leasing recovery plans, and 90-day action plans across the portfolio.
• Lead and coordinate supporting team members within Asset Management and Operations, setting priorities and creating accountability.

Property Management Oversight

• Provide strategic direction and owner-level oversight of third-party property management companies across the PBSH and market rate multifamily portfolio.
• Evaluate operator performance with particular focus on revenue performance, leasing velocity, pre-leasing pace, renewal performance, expense control, resident experience, and operating discipline.
• Provide heightened oversight for PBSH assets during annual leasing campaigns, renewal season, summer turn, fall move-in readiness, and stabilization following delivery.
• Escalate risks, drive corrective actions, and recommend management transitions when performance, alignment, or strategy warrants.

Capital Planning & Budgets

• Lead the annual operating budget and multi-year capital planning process in coordination with Finance, Operations, Construction, and third-party management teams.
• Review and approve operating budgets, capital plans, major scope changes, and unbudgeted capital expenditures in accordance with company policy.
• Oversee execution of underwritten and strategic capital programs, ensuring disciplined capital allocation and alignment with asset strategy.

Investor & Stakeholder Management

• Communicate asset and portfolio performance clearly and credibly to executive leadership, Capital Markets, investors, lenders, and other external stakeholders.
• Support prospective investor diligence, asset tours, performance reporting, strategic discussions, and investment narratives as needed.
• Ensure asset-level execution, risk factors, and performance trends are supported by sound analysis and clear communication.

Cross-Functional Leadership

• Coordinate internal resources across Finance, Accounting, Risk Management, Marketing, Operations, Construction, Development, and Capital Markets to resolve asset issues and improve portfolio performance.
• Partner with Finance and Accounting on cash flow management, distributions, debt compliance, reserves, reporting, and other ownership-level matters.
• Translate asset strategies into clear action plans across internal teams and third-party partners.

People Leadership

• Lead, mentor, and develop asset management team members, fostering a culture of accountability, sound judgment, analytical rigor, and ownership mentality.
• Delegate effectively, set clear expectations, and help scale asset management processes to support portfolio growth.
• Contribute to best practices, reporting tools, governance processes, and long-term organizational capability.

• Bachelor's degree in Finance, Accounting, Economics, Real Estate, Business, or a related discipline required; MBA or advanced degree preferred.
• 10+ years of experience in real estate asset management, investment management, acquisitions, development, or a related real estate investment role.
• Experience with market rate multifamily and purpose built student housing required.
• Experience with development assets, initial lease-ups, repositioning strategies, and stabilization plans strongly preferred.
• Strong understanding of asset management strategy, operating performance, joint venture structures, debt management, capital planning, and institutional reporting.
• Demonstrated ability to evaluate market drivers, assess asset performance, and translate financial and operational analysis into actionable strategy.
• Strong financial modeling skills and advanced proficiency in Excel and PowerPoint.
• Experience overseeing third-party property management companies and holding operators accountable for performance outcomes.
• Ability to lead across disciplines and influence outcomes without direct authority.
• Executive-level communication skills with credibility in senior leadership, investor, lender, and external stakeholder settings.
• Willingness to travel periodically in support of asset oversight, property visits, investor engagement, and stakeholder meetings
• Willingness to travel up to 30%.

Salary to be determined based on factors such as geographic location, skills, education, and/or experience of the applicant, as well as the internal equity and alignment with the team.

The pay ranges from $160,000.00 - $235,000.00 plus benefits and retirement program.

Gilbane offers an excellent total compensation package which includes competitive health and welfare benefits and a generous profit-sharing/401k plan. We invest in our employees' education and have built Gilbane University into a top training organization in the construction industry. Qualified applicants who are offered a position must pass a pre-employment substance abuse test.

Gilbane is an Affirmative Action/Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to age, color, national origin, race, religion, sex, sexual orientation, gender identity, protected veteran status, or disability status. Click here to view the physical demands and working conditions required to perform this role. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential job functions.

Note to Recruiters, Placement Agencies, and Similar Organizations: Gilbane does not accept unsolicited resumes from agencies. Please do not forward unsolicited agency resumes to our jobs alias, website, or to any Gilbane employee. Gilbane will not pay fees to any third party agency or firm and will not be responsible for any agency fees associated with unsolicited resumes. Unsolicited resumes received will be considered property of Gilbane and will be processed accordingly.