Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®.
With $235 billion in assets under management as of September 30, 2024, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.
Together with over 1,050 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.
This role is in office Monday to Thursday/Friday.
The Role:
Since its inception, Blue Owl’s Real Estate platform has established itself as a leader in private equity real estate, offering flexible capital solutions to investment-grade and creditworthy tenants across asset classes and geographies. We seek to provide investors with predictable current income and the potential for appreciation while focusing on limiting downside risk.
Our core Net Lease real estate strategies focus on acquiring single-tenant, free-standing properties across industrial, essential retail, and office sectors that are net-leased, long-term, to investment grade and creditworthy tenants. This combination seeks to create predictable cash flow from long-term rents, providing investors with current income, net of fees, plus appreciation and limited downside risk.
The VP/Principal, Asset Management’s role is to preserve and generate asset value while also creating operational efficiency through multiple responsibilities, including asset operational performance, tenant relations, and development.
Responsibilities:
Assist the Asset Management MDs with building the group’s internal infrastructure around processes, people, and technology to effectively manage the portfolio.
Conduct site visits on a regular basis and meet with property managers/tenants to review and assess operations, capital improvement needs, and property physical condition.
Manage the annual budget review and approval process for an assigned portfolio, along with monitoring performance against the budget.
Manage build-to-suit development projects alongside third-party owner’s rep which includes the draw/funding process, oversight of the project schedule, budget and spending review, and risk mitigation.
Oversee the property tax appeal process with third-party consultants.
Build and maintain strong relationships with various stakeholders, including property managers, tenants, consultants, and external partners.
Review and negotiate leasing LOIs/agreements with the Investments team, with the goal of aligning to the business needs of Blue Owl Real Estate and achieving favorable deal terms.
Oversee staff’s response to tenant requests such as subletting, capex, permits, alterations, etc.
Oversee staff’s handling of property-related notices from 3rd parties and municipalities.
Effectively present information to and respond to questions from groups of executives, investors, lenders, and partners.
Negotiate contracts with third-party providers and optimize terms.
Oversee team of 1-2 analysts/associates by managing day-to-day responsibilities and conducting timely, effective employee evaluations to include discussion of professional goals and career/skill development.
Travel approximately 10-20%.
Qualifications:
Bachelor's degree in Real Estate, Management, Finance or Business Administration. MBA preferred
8+ years of experience in working with a combination of asset management, property management, tenant relations, and development
Strong financial acumen; must understand the components driving cashlfow
Extensive experience in managing, coaching and inspiring direct reports
Demonstrated success in leadership, staff development and team building
High level presentation, written and verbal communication skills
Ability to multi-task and prioritize tasks to ensure corporate goals and time frames are met
Exceptional customer-service skills; demonstrated ability to maintain strong working relations with both internal and external clients
Demonstrated ability to manage multiple and complex operational matters on a daily basis
It is expected that the base annual salary range for this Chicago based position will be $150,000 to $200,000. Actual salaries may vary based on factors, such as skill, experience, and qualification for the role. Employees may be eligible for a discretionary bonus, based on factors such as individual and team performance.
Blue Owl is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.
