Director of Asset Manager

Director Of Asset Management

If you are a Director-level asset management professional who has spent years proving results in complex, mixed-income portfolios and is ready to own a function, not just work within one, Horning is where that ambition lands. This role offers direct access to executive leadership, real influence over a 4,500-unit DC metro portfolio spanning market-rate, LIHTC, and Section 8 assets, and the rare opportunity to build an asset management practice from the ground up inside a values-driven, family-owned organization that takes a long view on everything it owns. High visibility. Genuine ownership. Real impact.

Position Summary:

Horning is seeking a Director of Asset Management to take full ownership of the performance of a local, diverse real estate portfolio within the DC metropolitan area (approximately 4,500 residential units – including market-rate, NOAH, rent-controlled, LIHTC, and Section 8 and 400,000 SF of commercial).

This is a high-impact role with direct ownership and visibility, offering the opportunity to work closely with property management teams and executive leadership to drive portfolio performance within a family-owned organization that emphasizes long-term stewardship, accountability, and a value-driven approach to ownership and operations.

The role includes responsibility for leading and executing Horning's asset management function, with the opportunity to shape its structure, priorities, and operating approach over time.

Duties

Asset Performance & Financial Oversight:

• Own asset-level performance, including NOI, cash flow, expense management, and overall financial outcomes.
• Lead annual budgeting, reforecasting, and business planning processes across the portfolio.
• Analyze financial and operational results, identify performance gaps, and drive corrective action.
• Develop and implement revenue optimization and cost-control strategies.
• Develop and execute forward-looking business plans for each asset, including repositioning, capital improvements, and refinancing strategies.
• Identify value creation opportunities across operations, capital investment, and asset positioning.
• Evaluate hold/sell/refinance decisions and contribute to portfolio-level strategy.
• Support capital events, including refinancing, recapitalization, and disposition processes.
• Monitor market conditions and assess competitive positioning of each asset.
• Translate data into clear, actionable insights that lead to measurable results.

Property Management Leadership & Accountability:

• Serve as the primary point of accountability for property performance across the portfolio.
• Partner closely with in-house property management to align priorities and execution.
• Hold teams accountable for results across leasing, collections, and operations.
• Diagnose operational issues and course-correct as needed to drive performance improvements.
• Work closely with accounting to ensure accurate financial reporting and forecasting.

Capital Planning & Execution:

• Develop and manage multi-year capital improvement plans aligned with long-term asset strategy, including 5-year planning horizons for major projects.
• Evaluate return on investment and prioritize capital allocation decisions based on asset lifecycle needs.
• Oversee execution of key capital projects in coordination with property management and facilities teams, tracking timelines, budgets, and outcomes.
• Ensure capital deployment is disciplined, strategic, and aligned with underwriting assumptions.

Risk and Regulatory Compliance:

• Identify and proactively manage risks that could impact asset value or performance.
• Monitor compliance with all regulatory, lender, and investor requirements, including affordable housing programs (LIHTC, Section 8, and rent-controlled assets).
• Manage compliance with Building Energy Performance Standards (BEPS) and similar initiatives, coordinating with outside consultants and government agencies on funding opportunities.

Reporting & Strategic Communication:

• Provide clear, concise, and decision-oriented reporting to ownership and senior leadership, including mid-year and year-end performance reports for internal and external stakeholders.
• Prepare investment memos, performance updates, and strategic recommendations.
• Distill complex issues into actionable insights for decision-making.
• Support broader portfolio analysis and strategic repositioning, working with brokers and market experts to recommend changes to the portfolio of assets.

Special Projects & Cross-Functional Initiatives

• Lead targeted analyses across operations, capital planning, and portfolio strategy to inform investment decisions and organizational priorities.
• Support cross-functional initiatives that improve performance, efficiency, and scalability across the portfolio.

Other Duties:

• Perform other duties as assigned.

Minimum Qualifications and Requirements:

• Experience: 10+ years in asset management, real estate finance, or a closely related role, with demonstrated ownership of asset-level performance - including budgeting, business planning, and a track record of driving NOI improvement and operating results. Preference for direct experience managing affordable housing assets (LIHTC, Section 8, or similar programs).
• Education: Bachelor's degree in real estate, Finance, or Business Administration required; MBA strongly preferred.
• Skills: Strong financial and analytical skills (advanced Excel required). Proven ability to own outcomes and drive results end-to-end. Effective communicator with the ability to influence property management teams and senior leadership.
• Software: Proficiency in Yardi, advanced Excel, financial modeling, and data visualization tools. Familiarity with DC BEPS compliance reporting systems preferred.

Horning is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, age, status as a protected veteran, status as a qualified individual with disability, or any other characteristic protected by applicable federal, state or local laws and ordinances.